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ADB to fund USD800mn for the 3rd phase of connecting rural in Sri Lanka
Oct 22, 2015 (LBO) – Sri Lanka to get financial assistance of 800 million US dollars from the Asian Development Bank (ADB) for the implementation of phase 3 of the Integrated Road Investment Programme, cabinet spokesman told reporters on Thursday.The programme is implemented with the view of improving the road connectivity within selected rural centres […]
Innovation is the key for developing Sri Lanka: W.A. Wijewardena
Oct 22, 2015 (LBO) – Sri Lanka should move in to production based on high innovative technology as the traditional methods of production do not help Sri Lanka to be competitive in the global market and achieve higher productivity, an ex-Central Banker said “We must go for new innovation,” W.A. Wijewardena, former Deputy Governor of […]
Sri Lanka to introduce National Consumer Price Index
Oct 22, 2015 (LBO) – Sri Lanka is to introduce a new National Consumer Price Index to represent the national level changes in the inflation. The cabinet nod has been given to consider its base year as 2013 and from 21 November 2015 to declare the proposed index on 21st of each month. The current […]
Sri Lanka’s exports and imports declines in August 2015: Central Bank
Oct 22, 2015 (LBO) – Sri Lanka’s exports earnings recorded a decline of 19.5 per cent, year-on-year, to 799 million US dollars in August 2015, showing decreases in all major export categories, Central bank data showed. The lower earnings from tea, textiles and garments, transport equipment and rubber products mainly contributed to the overall decline […]
Youtube launches ad free uninterrupted version with paid content
Oct 22, 2015 (LBO) – World’s number one free video hosting site, Youtube has launched an ad free uninterrupted version of Youtube for a subscription fee of 9.99 US dollars a month. The new service that has been named as ‘YouTube Red’ will be available in the US for free with a one month trial […]
CEO Forum: Inter-ministerial task force to boost economy, says Harsha
Oct 22, 2015 (LBO) – Sri Lanka’s new government has formed an inter-ministerial task force to develop the economy by coordinating work of important ministries, the Deputy Foreign Minister Harsha de Silva said. Apart from the Foreign Affairs Ministry, the task force mainly works with the Development Strategies and International Trade Ministry and Industry and […]
CBSL accepts highest amount of bids in a T-bill auction in 5 months
Oct 21, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up with highest amount of bids in a Treasury bill auction in over five months at Wednesday’s auction, data from the state debt office showed. The 3-month yield was down 6.71 percent with bids amounting to 28.8 billion rupees being received and it was […]
Sri Lanka’s Finlays unit to delist
Oct 21, 2015 (LBO) – Sri Lanka’s Finlays, a tea exporter said it plans to delist its ordinary shares from the Colombo Stock Exchange, a statement said. “James Finlay of Swire House, London will302 rupees a share,” the company said in a stock exchange filing. The decision is subject to regulatory approval. The Company’s shares […]
Dialog, BOI in Rs24 bn investment to improve ICT infrastructure
Oct 21, 2015 (LBO) – Dialog Axiata Plc entered into an agreement with Board of Investment of Sri Lanka to invest 25.6 billion rupees or 175 million US dollars to improve the island’s ICT infrastructure, the company said in a filing to the Colombo Stock Exchange.The investment agreements span a broad scope of ICT infrastructure […]
Sri Lanka to tighten mandatory imprisonment for rapes and child abuses
Oct 21, 2015 (LBO) – Sri Lanka is to amend the penal code to tighten the mandatory imprisonment for the offenders of rapes and child abuses, Prison Reforms Minister Thilak Marapana said. According to government statistics 311 rape and 5,762 child abuse cases have been reported in the year 2014.Even though under the existing penal […]