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Global growth prospects dim, slowest in six years: OECD
Nov 13, 2015 (LBO) – Global growth prospects have dimmed again with the global economy expanding by less than three percent in 2015, the weakest for six years, the OECD said launching its Economic Outlook, November 2015. Below the long-run average, this growth reflects further weakness in emerging market economies, recessions in Brazil and Russia […]
Acting Chief Justice takes oaths
Senior Supreme Court Judge, Justice Priyasad Dep took oaths as the Acting Chief Justice before President Maithripala Sirisena at the Presidential Secretariat today (12). Secretary to the President P. B. Abeykoon was also present at this occasion.
Need to re-double efforts to achieve USD1bn bilateral trade target
The Federal Minister for Commerce Engr. Khurram Dastgir Khan called on Sri Lankan President Hon. Maithripala Sirisena at President’s Secretariat last evening.The Minister for Commerce was accompanied by High Commissioner of Pakistan in Sri Lanka Maj. Gen. (R) Syed Shakeel Hussain, Deputy High Commissioner Dr.Sarfraz Sipra and Director Ahsan Riaz Chaodhry. The Sri Lankan Minister […]
Future diplomats visit ‘Colombo Tea Auction’
A group of new Foreign Service recruits visited the Colombo Tea Auction recently as a part of their induction program. The group of new recruits numbering to over 20 was led Mrs.Pamela J. Deen, Director General of the Bandaranaike International Diplomatic Training Institute, which conducts the ‘Intensive Induction Program’ on new recruits to the Foreign […]
China Construction to carry out free feasibility for Sri Lanka’s eastern rail line
Nov 12, 2015 (LBO) – Sri Lanka’s Cabinet spokesperson, Minister Rajitha Senaratne said the government has approved a free feasibility to be carried out by China State Construction Engineering Corporation for the islands north central and eastern railway lines. The feasibility will focus on the rail tracks from Maho to Batticaloa and Galoya to […]
Sri Lanka stocks close down 0.2-pct: Budget concerns
Nov 11, 2015 (LBO) – Sri Lankan stocks closed down at 0.18 percent on Thursday a third consecutive session with investors keeping on the sidelines over budget concerns, brokers said. The Colombo benchmark All Share Price Index closed down 12.88 points at 7,006.35 lower 0.18 percent. S&P SL20 closed 9.39 points lower at 3,781.22 down 0.25 […]
PTL Watch: Some foreign selling, yield curve shows spikes
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Sri Lanka to restrict revocation of deeds of gift
Nov 12, 2015 (LBO) – Sri Lanka plans to draft legislations to make provision for revocation of irrevocable deeds of gift to provide greater security for lending institutions who lends money using property as collateral, cabinet spokesman Rajitha Senaratne told reporters on Thursday.Health Minister Rajitha Senaratne said issues have been raised on the rights of […]
Sri Lanka to amend Fisheries act, increase penalties for offences in international waters
Nov 12, 2015 (LBO) – Sri Lanka will change the law on governing the operation of fishing vessels in international waters, cabinet spokesman Minister Rajitha Senaratne said. “Cabinet of Ministers has approved the amendment of the Fisheries’ and Aquatic Resources Act 02 of 1996 for the increase of penalties for the offences done in the […]
Sri Lanka receives USD450 mn from expat accounts: Finance Minister
Nov 12, 2015 (LBO) – Finance Minister Ravi Karunanayake said Sri Lanka has received 450 million dollars as deposits after the government encouraged Sri Lankan expats to bring back undeclared funds in places such as Switzerland. Two accounts were from Saudi Arabia and two from Qatar, he said speaking at the Foreign Correspondents Association in […]