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IMF approves 36-month EFF facility of USD1.5 Bln to Sri Lanka
June 04, 2016 (LBO) – The Executive Board of the International Monetary Fund (IMF) has approved a 36-month Extended Fund Facility (EFF) to Sri Lanka for 1.5 billion dollars, to support the country’s economic reform agenda, the IMF said. The arrangement aims to meet balance of payments needs arising from a deteriorating external environment and […]
JVP protest against recent VAT hike
JVP on Friday held a protest march against recent VAT hike…
Sri Lanka’s Central Bank to sell USD200mn development bonds
June 03, 2016 (LBO) – The Central Bank will issue 200 million US dollars development bonds with a tenor of 1 year, 2 years, 3 years and 5 years to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD plus a margin […]
‘t be pressured regarding land reclamation: President
June 03, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed officials to adhere strictly when implementing the government’s decision to prohibit unauthorized land reclamation in the Western Province. “I will always stand up on behalf of the officials who are taking the correct decision,” he said and requested those officials to inform him without […]
Radiant Eye Hospital launches web site
Radiant Eye Hospital officially launched its unique website radianteye.lk on Thursday, 2 June 2016. The launch was experienced by healthcare professionals, stakeholders and members of the media. Heading the team is the hospital’s founder Dr. Shamintha Amaratunga, an eye surgeon who has built a reputation for excellence in the field of eye care. Dr. Amaratunga […]
Ethics crucial to business, says SEC Chairman Karunaratne
June 03, 2016 (LBO) – Ethics is crucial to business in the context of redefining our social order, Thilak Karunaratne, the chairman of Sri Lanka’s Securities and Exchange Commission said, speaking to the Junior Chamber International Biz Meet. It is imperative that we “redefine the current social order and revitalize our actions and thoughts in […]
Singer launches first-ever online wedding registry
Singer Sri Lanka PLC, the country’s leading consumer durable retailer, launched its first-ever Online Wedding Registry at a special ceremony held recently. Singer Online Wedding Registry will allow couples to create and manage their own wedding registry from anywhere in the world by simply logging onto a secure web portal. It will include a comprehensive […]
Sri Lanka’s LOLC March net up 46-pct amid growing incomes
June 03, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the March quarter rose 46 percent to 2.3 billion rupees. The group reported earnings per share of 4.83 rupees for the quarter up from 3.31 from a year earlier and the […]
Sri Lankan Researchers honoured for Process Innovation treating Asthma
In what can be hailed as a national achievement, two Sri Lankan scientists, Manoj Hettiarachchi and Nalin Kannangara of Sri Lankan pharmaceutical company Emergen Life Sciences were recently honoured with a Silver Award at the 44th International Exhibition of Inventions held in Geneva for their innovation of a Process of Manufacturing of Budenoside+Foremtrol Dry Powder […]
Korean firm wants to revive KKS cement with USD450mn investment
June 03, 2016 (LBO) – Korea’s AFKO group is interested in reviving the Kankesanthurai cement plant with a 450 million dollar investment, the Ministry of Industry and Commerce said in a statement. AFKO Group, which merged with Korea’s multinational chaebol Hyundai Group in 2008, has its own construction and cement projects in several countries. The […]