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Sri Lanka needs to improve energy sector governance: Dr Priyantha Wijetunga
Jul 19, 2019 (LBO) – Sri Lanka has a long way to go when it comes to energy sector governance Director, Asian Development Bank, South Asia Energy Division, Dr Priyantha Wijetunga at the ‘techno’ 2019 launch at Marino Beach Colombo held recently. “With all advancement and with all progress in the energy sector in various […]
Sri Lanka Central Bank expects lending rates to reduce further in immediate future
July 19, 2019 (LBO) – Sri Lanka’s Central Bank expects lending rates of banks and NBFIs to reduce further in the immediate future, and borrowers, particularly SMEs, can expect to obtain credit facilities at reduced interest rates from banks and NBFIs. The Central Bank of Sri Lanka requested licensed banks and Non-Bank Financial Institutions (NBFIs) […]
EU reiterats call to maintain moratorium on death penalty in Sri Lanka with view to abolition
Jul 18, 2019 (LBO) – The Delegation of the European Union (EU) issuing a statement said they reiterated their call to Sri Lanka to maintain its moratorium on the death penalty with a view towards complete abolition. The statement was issued in agreement with the Embassies of France, Germany, Italy, Netherlands, Romania and the UK […]
Federal Reserve will only cut rates once in 2019: Fitch Ratings
July 18, 2019 (LBO) – The Federal Reserve is likely to cut interest rates by less than financial markets expect over the rest of 2019 given robust jobs growth in the US, Fitch Ratings says. A 25bp cut now appears probable at either the July or September FOMC meeting but is unlikely to signal the […]
ComBank launches Sri Lanka’s first QR based payment app under LANKAQR
The Commercial Bank of Ceylon has launched ComBank Q+ – the first Quick Response (QR) based payment app to be launched under LANKAQR – creating history yet again by introducing technology that matters in the lives of the Bank’s customers. LANKAQR is the national QR standard for local currency payments introduced by the Central Bank […]
JICA extends JPY 263mn grant for Sri Lanka public sector development
July 18, 2019 (LBO) – Japan International Cooperation Agency on Wednesday extended a grant agreement under JDS amounting to 263 million Japanese Yen (Rs 420mn) for young government officers to undergo studies in top Japanese universities in their selected professions. The signing of the present grant agreement will enable 17 fellows to undergo Masters and […]
Ekuinas sells APIIT Lanka for RM41mil
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has disposed of its entire equity interest, together with its minority partners in APIIT Lanka Pvt Ltd (APIIT Lanka), based on an enterprise value of approximately RM41mil to BG Investments Pte Ltd. “We are pleased to report that the divestment generated a gross internal rate return (IRR) of 17.5% […]
BOI inks agreement with edotco to equip Sri Lanka with Smart City Solutions
July 17, 2019 (LBO) – The Board of Investment (BOI) and edotco Sri Lanka, an integrated telecommunications infrastructure services company today entered into an agreement to invest in the latest Smart City solutions and energy-efficient systems. Under this agreement, the BOI grants edotco Sri Lanka the approval to deploy urban smart solutions throughout the country […]
UN expert to assess rights to freedom of peaceful assembly in Sri Lanka
July 17, 2019 (LBO) – UN Special Rapporteur Clément Nyaletsossi Voule will visit Sri Lanka from 18 to 26 July 2019 to assess rights to freedom of peaceful assembly and of association in the country. “We have seen a commendable effort to expand civic space in Sri Lanka, the establishment of strong and independent institutions, […]
Lagarde to resign from IMF w.e.f Sept; selection process for next MD to start promptly
July 17, 2019 (LBO) – IMF Executive Board has accepted Managing Director Christine Lagarde’s resignation from the fund with effect from 12 September 2019. “We would like to express our greatest appreciation for all that Managing Director Lagarde has done for the institution,” the IMF said in a statement. According to the IMF, her legacy […]