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Sri Lanka’s economic growth losing steam: former Central banker
May 18, 2015 (LBO) – Sri Lanka’s economy is at cross road and is losing steam due to the lack of a resource base and external sector vulnerability, an ex-Central Banker said. “No government would be able maintain high levels of economic growth continuously like Sri Lanka, unless it has a massive source of resources,” […]
The “Jawana Shakthi Yaathra” marathon
The “Jawana Shakthi Yaathra” marathon was held on Saturday under the patronage of President Maithripala Sirisena.It was held under the theme “A country for tomorrow” to coincide with the National Energy Conservation Programme initiated by Minister Patali Champika Ranawaka.
Sri Lanka legalizes 19A
May 16, 2015 (LBO) – Sri Lanka’s Speaker Chamal Rajapaksa signed and legalized the 19th Amendment to the Constitution, passed in Parliament on April 28.The Speaker signed the blueprint of the constitutional amendment on Friday, a state media report said.The legislation dilutes many powers of executive Presidency in force since 1978, will come into force […]
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May 15, 2015 (LBO) – Sri Lanka Fitch Ratings has assigned Central Finance Company Plc’s issue of senior secured redeemable debentures of up to 3 billion rupees, a final National Long-Term Rating of ‘A+(lka)’. The Media Release reproduced below :- The final rating is the same as the expected rating assigned on 8 April 2015, […]
Sri Lanka wants investor support to transform economy, Promissed to ease of doing business :Ravi Karunanayake
May 15, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government is seeking investor support to develop the Island’s economy and assured it’s full support for improving the ease of doing business. “I’m sure the environment is rather buoyant for investors to come in. This is the time the Prime Minister […]
Sri Lanka stocks close up at 0.3-pct
May 15, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.30 percent with finance sector and some index heavy stocks trading actively, brokers said. The Colombo benchmark All Share Price Index closed21.80 points higher at 7,258.67 up 0.30 percent. The S&P SL20 closed 6.54 points higher at 4,050.14 up 0.16 percent. Turnover was 1.08 […]
Sri Lanka’s NDB posts Rs1.6bn profits; 30-pct YoY growth
May 15, 2015 (LBO) Sri Lanka’s National Development Bank PLC reported 1, 558 million rupees of profit after tax in the first quarter of 2015 up 30 percent compared to the same period 2014, interim report showed.The Bank’s total operating income before impairment charges for loans and other losses and operating expenses grew by 18 […]
Sri Lanka to boost economic ties with London
May 15, 2015 (LBO) – Lord Mayor of the City of London, Alderman Alan Yarrow, is due to lead a business delegation to Sri Lanka to strengthen economic ties and boost profession links between the two cities, the British High Commission said.“The Lord Mayor of the City of London, Alderman Alan Yarrow, is to lead […]
Sri Lanka’s 20A will help resolve disparities in development and growth: Minister
May 15, 2015 (LBO) – Sri Lanka’s proposed electoral reforms will allow better representation at grass root level which can help solve disparities in terms of development and growth within Provinces, a Minister said.“The 20 amendment to the constitution hopes to put in place electoral reforms that will bring better representation at grass root level,” […]
‘s Northern PC invited to commemorate victory against separatism
May 15, 2015 (LBO) – Sri Lanka’s coalition government has invited Northern Provincial Councilors to attend the victory day celebrations which will be held next week in Southern Sri Lanka.“We are inviting all. We’ll see whether they are coming,” cabinet spokesman Rajitha Senaratne said.“We are not going to commemorate this as a war victory. We […]