Author: Gayan Chandrasekara
‘s main power outages
Feb 26, 2020 (LBO) – Continuous fuel supply from Ceylon Petroleum Corporation (CPC) has become the principal deciding factor for an uninterrupted power supply in Sri Lanka, a recent report highlighted. According to the latest power outage report of the Ceylon Electricity Board (CEB), exceeded credit limits have left the CPC with no other option […]
SLTB deploys 16 luxury buses to operate Hambantota – Colombo expressway
Feb 25, 2020 (LBO) – Sri Lanka Transport Board (SLTB) has deployed 16 luxury buses to operate along the Hambantota – Colombo expressway. The deployment of buses took place this morning at the Hambantota bus stand with the participation of the Transport Minister Mahinda Amaraweera. These buses are to be operated on the expressway from […]
Central Bank expects economic growth to exceed 4-pct this year
Jan 30, 2020 (LBO) – Sri Lanka’s economic growth will exceed 4 percent in 2020 as there has been a notable improvement in business confidence caused by political stability and targeted measures taken by authorities to boost demand, the Central Bank Governor said. “Revival in economic activity & confidence, fiscal measures, and credit relief package, […]
CB Chief urges Sri Lanka banks to rethink its credit disbursement policies
Jan 06, 2020 (LBO) – Central Bank Governor Professor W D Lakshman urged Sri Lanka’s banking sector to rethink its credit disbursement policies, as the traditional ‘risk averse’ mindset has deprived emerging entrepreneurs and new ventures of much needed initial capital. Announcing the road map of the Central Bank for this year, Lakshman said credit […]
Richard Quest to feature Sri Lanka on CNN Business Traveller program
Jan 03, 2020 (LBO) – Global media icon Richard Quest will feature Sri Lanka and its recovery efforts post-Easter Sunday terror attacks on the latest edition of the CNN Business Traveller program. This program will be premiered on January 8, 2020, at 1230 pm Eastern Time Zone which will also uncover about SriLankan Airlines. As […]
ICICI Bank & Axis Bank to close down business operations in Sri Lanka
Dec 31, 2019 (LBO) – Sri Lanka’s Central Bank has permitted Axis Bank Ltd and ICICI Bank Ltd to close down their business operations in Sri Lanka, subject to certain conditions, at the request of their parent banks. Accordingly, these two banks are currently not permitted to carry on banking business, including accepting deposits from […]
Singapore’s Perennial to launch USD250mn mixed development project in Sri Lanka
Dec 29, 2019 (LBO) – Integrated real estate and healthcare company headquartered and listed in Singapore, Perennial Real Estate Holdings Limited is to launch a 250 million dollar mixed development project in Sri Lanka shortly. This foreign investment project will see the construction of a 30-storey commercial tower inclusive of 700 new residencies and have […]
Fiscal stimulus should be structured not to overheat economy: CB Governor
Nov 29, 2019 (LBO) – The government is to make a policy statement as to how the recently introduced fiscal stimulus would be accommodated within a stable framework, Central Bank Governor Indrajit Coomaraswamy said. “The government will be making a statement as to how this would be accommodated within a stable framework,” Governor Coomaraswamy told […]
First Capital anticipates Sri Lanka ASPI to reach 6,000 by Dec 2019 & 6,500 by Jun 2020
Oct 04, 2019 (LBO) – First Capital Research expects the equity market to adopt an upward trajectory over the next 12 months as they expect the ASPI to reach the next stage of the market cycle “Hope” stage and the Optimism stage. With the expected uptrend, the research firm targets ASPI to reach 6,000 by […]
Sri Lanka official reserves improve to USD 8.5 bn in August
Sep 06, 2019 (LBO) – Sri Lanka’s gross official reserves were 8,532.6 million US dollars by the end of August, up from 8,343.9 million US dollars in July, latest Central Bank data showed. By the end of August, foreign currency reserves were 7,494.7 million dollars while the reserve position in the IMF was 65.5 million […]
Easter Sunday bombings trigger downgrade for Colombo city in latest Global Liveability Index
Sep 04, 2019 (LBO) – The Easter Sunday bombings in Sri Lanka have triggered a downgrade for Colombo city in Global Liveability Index 2019, The Economist Intelligence Unit’s latest liveability survey showed. The findings of the survey added that the devastating terrorist attacks in New Zealand and Sri Lanka in the past year are a […]
Samurai Bond to support reserves to maintain around USD8Bn throughout 2019: FC
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the raising of 500 million dollars via Samurai Bonds is likely to support to maintain reserves around the 8 billion dollar mark throughout the rest of this year. As per the Governor of Central Bank, the government will soon issue Request for Proposals […]