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Sri Lanka cuts policy rates: Inflation declines due energy price revision and consumer items:Central Bank
Apr 15, 2015 (LBO) – Sri Lanka has cut policy rate corridor by 50 basis points lowering its repo rate to 6.00 percent and reverse repo rate to 7.50 percent with effect from today, to boost credit and investment, the Central Bank said. “Current behaviour of market interest rates is viewed to be inconsistent with […]
Sri Lanka’s new regime must continue fullest support for UN investigation: Britain PM
Apr 14, 2015 (LBO) – Sri Lanka’s new rulers should offer continued support for the ongoing UN investigation, British Prime Minister David Cameron said in his Sinhala –Tamil New Year message.“When I met with President Sirisena at Downing Street last month I offered my support for the steps his government has begun to take to […]
Sri Lanka marching towards new political culture: PM’s New Year message
Apr 14, 2015 (LBO) – Sri Lanka’s Prime Minister in his New Year message says, the country is marching towards a new political culture where ethnic, religious and political differences have no value. “We are marching towards a new political culture for the progress of the entire nation where ethnic, religious and Political differences have […]
Sri Lanka to introduce red labels for drinks with excessive sugar: Health Ministry
Apr 13, 2015 (LBO) – The Health and Indigenous Medicine Ministry will soon introduce a special red label, on bottled drinks which have excessive sugar content, the Ministry said in a statement. “Manufacturers and importers should display a red label if the sugar content of the drink is over 11 grams per 100 milliliters,” Dr. […]
‘s success story can’t be copied and pasted on another”: IMF Mission Head
Apr 12, 2015 (LBO) – Georgia, once plagued with rampant corruption is lauded by World Bank today as the world’s number one economic reformer. Georgia, a country of 4. 5 Million population with a per capital GDP of USD 6,100 was once considered one of the most corrupted countries in the region. One had to […]
Sri Lanka’s Rajapakse regime used Rs375mn state lottery money for election campaign
Apr 10, 2015 (LBO) – Sri Lanka’s former rulers, the Rajapakse regime has used 375 million rupees from the state lottery board to fund the presidential election campaign, National Lottery Board said. “We have started an audit at the National lottery board,” Shyamala Perera, newly appointed Chairperson of National Lottery Board told reporters at a […]
Sri Lanka stocks close flat
Apr 10, 2015 (LBO) – Sri Lanka’s stocks closed flat with low investor activity due to the upcoming new year holidays, brokers said. The Colombo benchmark All Share Price Index closed 1.77 points higher at 6,901.06 up 0.03 per cent. The S&P SL20 closed 6.16 points lower at 3,888.33 down 0.16 per cent. Turnover was […]
Sri Lanka’s bond investigation report handed over to PM: Committe Chair
Apr 10, 2015 (LBO) – Sri Lanka’s committee appointed to probe controversial bond issue has handed over their report to the Prime Minister, yesterday, Chairman of the Committee said.“We have already handed over the report,” Attorney-At-Law Gamini Pitipana, Chairman of the Committee told LBO.“Yesterday, we gave this fact finding committee report to the Prime Minister […]
Sri Lanka looks at cheaper international borrowings : Ravi Karunanayake
Apr 10, 2015 (LBO) – Sri Lanka is looking at cheaper borrowing from the international market, Finance Minister Ravi Karunanayake said.“Yes we are considering that,” Karunanayake said. Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio increased to 88.9 percent from reported 74.4 percent of the government debt by the end 2014, the Finance […]
Sri Lanka’s President keeps promise to curtail powers: Dissolution soon
Apr 10, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena said in a statement that the relevant clauses of 19th Amendment to the Constitution will be amended and presented to Parliament on April 20 this year.The statement also said the Parliament would be dissolved after the passage of the 19th Amendment is passed. “This would […]