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Sri Lanka imposes maximum price for 16 essential items
July 14, 2016 (LBO) – The controlled prices of 16 essential items were announced by the Minister of Industry and Commerce Rishad Bathiudeen today morning. The Gazette is expected tomorrow and the maximum retail prices will be effective immediately. The Items are: 1. Chicken Rs 410 per Kilo, Rs 495 per Kilo (skinless) 2. Red […]
Sri Lanka tea sees better demand at auction
Jul 14, 2016 (LBO) – Sri Lankan tea prices rose at this week’s Colombo auction with some prices up by 20-30 rupees, Forbes & Walker Tea Brokers said in their latest report. “Overall quality of teas, both from the Western and Eastern planting districts showed an improvement and consequently recorded a price appreciation of Rs. 20/- […]
UN Secretary General message on World Youth Day
Today’s world has the largest generation of youth in history. Their needs and potential are increasingly recognized in the international community. I am proud to have made youth issues a priority, including by appointing the first-ever Youth Envoy to serve as a liaison between the United Nations and the world’s young people. This elevation on […]
South Korea, Canada holds rates; Malaysia cuts rates 25bps
July 14, 2016 (LBO) – South Korea and Canada have left base rates steady while Malaysia cut its benchmark overnight policy rate by 25 basis points to 3 percent to support steady growth amid stable inflation. It is the first change in rates by Malaysia’s Central Bank since it raised its rate in July 2014 […]
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July 14, 2016 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B+(EXP)’. The ratings agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Negative Outlook. “The rating would be sensitive to any changes in Sri Lanka’s […]
‘s BOI and Surbana Jurong in consultancy MOU
Jul14, 2016 (LBO) – Sri Lanka’s Board Of Investment (BOI) is to enter into a MoU with Singapore’s Surbana Jurong with the aim of eventually establishing a joint venture company. “It has been identified that establishment of a government owned consultancy company is suitable to gain its entire benefits,” said the cabinet paper submitted by […]
LBR LBO Brand Summit 2016 inspires marketers with brand innovation
July 14, 2016 (LBO) – Leading digital strategists and value creators tackled the opportunities in digital media in front of a packed audience at the LBR LBO Brand Summit on Tuesday. Themed, “Building Winning Brands in the Digital Age and Strategy Innovation,” the 2016 edition of the summit was held at Cinnamon Grand with over […]
Walkers CML Properties launches Heritage Valley in Kandy
Walkers CML Properties (Private) Limited, a subsidiary of MTD Walkers PLC, together with the Ministry of Public Administration and Management and The Board of Investment of Sri Lanka launched its newest affordable housing project, “Heritage Valley” in Kandy recently. Minister of Public Administration and Management Honourable Ranjith Madduma Bandara laid the foundation stone last week […]
Korea pledges USD300mn development loans to Sri Lanka till 2018
July 14, 2016 (LBO) – A framework arrangement enabling Sri Lanka to obtain soft loans from the government of Korea up to 300 million dollars till 2018 was signed on July 13, 2016, a statement said. “This Framework Arrangement is based on the agreement between the two governments signed in December 1995 concerning Loans from […]
Power Minister appoints committee to probe coal purchases
July 13, 2016 (LBO) – Sri Lanka’s Power Minister on Wednesday appointed a three-member committee comprised of industry experts to look into the alleged losses incurred in Norochcholai coal procurement process during 2015 to 2016. Chancellor of Moratuwa University Prof. K Y WA Perera will chair the committee while the Chairman of CMA Prof. Lakshman […]