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Sri Lanka signs loan agreements with OPEC fund for international development
June 26, 2015 (LBO) – Sri Lanka’s government has signed two loan agreements with OPEC fund for international development on Friday to obtain a part financing for rehabilitation of a A5 road corridor from Badulla to Chenkaladi. The road which is one of the major highways linking parts of the Central Province to Eastern Province […]
Nation Lanka finance to issue Rs502mn right issue
June 26, 2015 (LBO) – Sri Lanka’s Nation Lanka finance, a finance company to issue 502 million right issue to existing shareholders to strengthen the core capital of the company. The company will issue 502,326,522 shares in a proportion of two shares for every one share held, the company said in a stock filing. A […]
Sri Lanka to implement capital loan scheme for tea; guaranteed price for rubber
June 26, 2015 (LBO) – Sri Lanka’s cabinet has decided to implement a capital loan scheme for the tea industry and a guaranteed price scheme for the natural raw rubber. The capital loan scheme will be implement for all owners of tea industries through all State and Commercial Banks. The Cabinet has approved to provide […]
“Government job is not to defend its human rights record but to defend human rights”
June 26, 2015 (LBO) – Sri Lanka’s foreign policy should have preventive diplomacy approach addressing concerns with human rights and prevent those becoming foreign policy issues, Governor of Northern Province said. “Some of the foreign policy challenges including concerns with human rights issues also remain,” G S Palihakkara, Governor of Northern province said. “These could […]
Sri Lanka President denies meeting with Mahinda Rajapaksa
Jun 26, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena denied reports regarding a meeting with the Former President Mihinda Rajapaksa yesterday (25), a statement said.“Several media reports this moring claiming a meeting with the former President, Mahinda Rajapaksa yesterday (25) are false,” a statement from the Presidents media office said. The meeting between the […]
Emirates airlines Dubai bound flight makes emergency landing in Sri Lanka
Jun 26, 2015 (LBO) – An A380 flight of Emirates Airlines with 501 passengers from Sydney to Dubai made an emergency landing in Colombo, an airport duty manager said.“Emirates flight EK413 from Sydney to Dubai on 25th June was diverted to Colombo due to a technical fault,” a statement from the Airline said.“The aircraft landed […]
Sri Lanka needs to look beyond developing infrastructure to uplift economy: New CCC Chief
June 26, 2015 (LBO) – Sri Lanka needs to look beyond developing infrastructure as a strategy to uplift the economy and minimize the gaps between urban and rural sector through regional inclusivity, strengthening small and medium enterprises and development of education and skill, a chamber official said. “Looking back we have achieved much but fresh […]
ADB gives USD453mn loan for dry zone water projects
June 26, 2015 (LBO) – The Asian Development bank is to grant a loan of 453 million US dollars to help deliver surplus water from the Mahaweli river basin to the dry zone, a statement said.“Sri Lanka has abundant water resources but they are not distributed evenly across the country,” Lance Gore, ADB Water Resources Specialist said in the […]
Sri Lanka gross official reserves at USD7.6bn this week: Central Bank
June 26, 2015 (LBO) – Sri Lanka’s gross official reserves are estimated to have increased to 7.6 billion US dollars as of 22 June 2015, and expected to stabilize at comfortable levels in the coming months, the Central Bank said.Proceeds of the latest international sovereign bond, Sri Lanka development bonds and the currency swap arrangement […]
We won’t dissolve parliament without enacting 20th amendment: Rajitha Senaratne
June 25, 2015 (LBO) – Sri Lanka’s cabinet spokesman Rajitha Senaratne said the government will not be dissolved without first enacting the 20th amendment to the constitution which includes election reforms.“Everyone supported in removing presidential powers,” Senaratne said. “But they have a problem when something is affecting their powers,” “Even I will be affected. But […]