Tag: lbo
Huawei Y3II and Y5II to revolutionize entry range smartphone market in Sri Lanka
Reaches 23.3% Sri Lankan smartphone market share in Q1 2016 – GFK Reports Huawei, the fastest growing smartphone in Sri Lanka, announced the launch of two new entry level smartphones in Sri Lanka Y3II and Y5II from the Y Generation family of smartphones. The Y5II both 3G and 4G version is available from LKR 14,199 […]
100 day countdown to the international day of peace
Every year on the International Day of Peace, the United Nations calls on the peoples of the world to remember their common humanity and join together to build a future free of strife. It calls on all of us to observe a day of global ceasefire and non-violence, and to honour a cessation of hostilities […]
Sri Lanka cabinet approves reintroduction of capital gains tax
Jun 15, 2016 (LBO) – The cabinet committee on economic management has agreed to reintroduce the capital gains tax (CGT) to rectify the increase in the inequality of income distribution, a cabinet proposal said. “The cabinet also approved to draft a new capital gains tax regime,” it said. During the last few decades there has been a […]
Sri Lanka commences innovation portfolio measuring
June 15, 2016 (LBO) – Work on Sri Lanka’s long awaited national Innovation Index which is set to measure the islands innovation portfolio, began in Colombo, Tuesday. The UN agency tasked with world Intellectual Property (IP) development says in a statement that many new IP projects have been earmarked for Colombo in future. “In view of […]
‘s yuan hits weakest in more than 5 yrs after PBOC fix, MSCI disappointment
SHANGHAI, June 15 (Reuters) – China’s yuan slumped to its weakest level in more than five years against the dollar at Wednesday’s open, after the central bank set its official midpoint at its lowest level since January 2011. The yuan hit an intraday low of 6.6047 per dollar in early trade against Tuesday’s close of […]
DFCC Bank launches Sri Lanka’s first virtual payment system
Jun 14, 2016 (LBO) – Sri Lanka’s DFCC Bank launched the Vardhana virtual wallet, a mobile application that enables financial inclusion for its customers, Tuesday. The mobile app enables users to simplify the way they transact and stay in control of their finances. The banks customer base is around 300,000 to 400,000 and around a […]
Oil futures fall as global growth, Brexit concerns weigh
TOKYO, June 14 (Reuters) – Crude oil futures fell in Asian trade on Tuesday, as investors ignored signs of market tightness to focus on concerns over global growth and overnight declines in stocks on the impending vote on Britain’s possible European Union exit. Brent crude oil futures slipped below $50 a barrel, falling 50 […]
ADB, Sri Lanka sign USD2mn grant for flood and landslide relief
Jun 13, 2016 (LBO) – The Asian Development Bank (ADB) said they would grant US 2 million dollars to finance relief efforts in the country following the recent floods and landslides which claimed around 100 lives and damaged the homes and livelihoods of thousands more. “Considering the scope of the damage in Sri Lanka and […]
IFC looks to fund Sri Lanka infrastructure, tourism and energy
Jun 13, 2016 (LBO) – The International Finance Corporation, a part of the World Bank group, said they are focusing on financing financially viable projects in Sri Lanka, and highlighted potential areas such as infrastructure, tourism, agribusiness, energy and also finance. “The project IFC gets involved should be viable and also should have a development […]
Ford partners and JEN to support 50 families in Kilinochchi
Ford Motor Company, represented in Sri Lanka by Future Automobiles, a subsidiary of Softlogic Holdings, has awarded a grant to JEN (Japan Emergency NGO) to carry out an agricultural livelihood project in Kilinochchi. Utilising the funding from Ford, JEN will be able to assist people who have returned from displacement regain their livelihood through agriculture. […]
Asian shares and sterling skid, yen firms
June 13 (Reuters) – Asian shares and sterling skidded in early Asian trade on Monday and the perceived safe-haven yen rose, as investors fretted ahead of this week’s central bank meetings as well as Britain’s June 23 referendum on whether to remain in the European Union. Also adding to the grim U.S. mood, an man […]
Sri Lankan rupee up as exporters, foreign investors convert dollars
June 10 (Reuters) – Sri Lankan rupee forwards edged up on Friday as dollar conversions by foreign investors and exporters surpassed importer demand for the U.S. currency, dealers said. The spot rupee, which was traded actively for a third straight day, also rose, dealers said. Dollar/rupee forwards, known as spot next, were at 145.02/12 per […]