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Sri Lanka to revive Sathosa with help from Singapore
Oct 09, 2015 (LBO) – Sri Lanka’s state owned retail chain Lanka Sathosa aims to get support to revive from Singapore as the retail chain is making continues losses, ministry of industry and commerce said in a release. Lanka Sathosa owned more than 310 outlets around the island. “We are restructuring LAKSATHOSA and are still […]
Not satisfied with past performance of Central Bank: PM
Oct 08, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe told Parliament Thursday that he is not satisfied with the past procedures and performance of the Central Bank.Bringing a motion, Parliamentarian Dinesh Gunawardena charged that over 200 officials from Central Bank have been transferred from their positions after the 2015 general elections. Wickremesinghe, however, said […]
Sri Lanka to get Euro 43.7mn grant, technical assistance from EU
Oct 07, 2015 (LBO) – Sri Lanka will be getting 43.7 million euro as grant and technical assistant from the European Union, government told reporters Thursday.The European Union has agreed to provide grant assistant of 30 million of euros to finance in support of the integrated rural development programme in Central and Uva provinces, which […]
Sri Lanka stocks close flat, Net foreign out flow
Oct 08, 2015 (LBO) – Sri Lankan stocks closed flat on Thursday with low investor interest due to lack of policy directions, brokers said. The Colombo benchmark All Share Price Index closed flat at 7,085.65. S&P SL20 closed 3.09 points lower at 3,818.60 lower 0.08 percent. Turnover was 850 million rupees, up from 636 million […]
PTL Watch: Foreign buying seen in Sri Lanka bonds
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Sri Lanka’s Budget 2016: Revenue Rs1.7tn; Expenditure Rs3.1tn
Oct 08, 2015 (LBO) – Sri Lanka’s total borrowing requirement from both foreign and local sources for the year 2016 will be 1,349 billion rupees, revealing 2016 budget figures the government said.The revenue at the prevailing rates structure and foreign grants have been estimated to be around 1,789 billion rupees.The total expenditure provision for 2016 […]
China launches international payment system
Oct 08, 2015 (LBO) – China’s central bank on Thursday launched the first phase of the China International Payment System in a bid to open their currency to the rest of the world.With the new system businesses will facilitate cross boarder yuan transactions while increasing the efficiency and its global usage, China Central Bank said.New […]
LBR LBO infrastructure summit announced to media
Oct 08, 2015 (LBO) – There is an urgent need to move forward with intelligent urban design and development if Sri Lanka aspires to make Colombo a regional hub.This was the call of the organizers of LBR LBO’s infrastructure summit “Making Colombo a Globally Competitive City,” which will be held on November 3rd and 4th […]
‘s Dialog launches new service to pay mobile pensions
Oct 08, 2015 (LBO) – Sri Lanka’s Pensions Department on Thursday entered into a partnership with Dialog easy cash mobile money service to deliver pensions directly in to the pensioners hand through mobile devices.This innovative service for pensioners will ease the waiting queues at post offices or banks to get the funds. After registering with […]
Sri Lanka to call bids for urban rail project soon-Updated
Oct 08, 2015 (LBO) – Sri Lanka will be calling for international competitive bids for its first urban railway project, Upul Jayasuriya, chairman of Sri Lanka’s Board of Investment told foreign media.Japanese foreign media reports quoted the BOI chief saying that the Sri Lankan government is considering introducing either monorails or subways, as traffic congestion […]