Author: lbostgadmin
Sri Lanka PM cancels Seylan Bank foreign deal, orders probe: Finmin
Dec 19, 2016 (Reuters) – Sri Lankan Prime Minister Ranil Wickremesinghe has ordered a reversal and a probe into the 1.3 billion rupees ($8.7 million) Seylan Bank foreign deal as it failed to follow proper procedure, the country’s finance minister said on Monday. On Friday, 13 million shares or 7 percent stake in Seylan Bank […]
IMF Video: Addressing Sri Lanka’s Economic Challenges
The government of Sri Lanka has decided to take on economic reforms, with the help of the IMF. The aim is to return the country to strong growth that will help improve lives for everyone. Video copyrights : The International Monetary Fund (IMF) Health, education, debt reduction – all could benefit from #SriLanka pgm – IMF’s […]
Sri Lanka govt revenue up 23-pct: Finance Ministry
Dec 19, 2016 (LBO) – Sri Lanka’s Finance ministry says that state revenue has increased by 23 percent during the first nine months of this year compared with the same period in 2015. “Accordingly, the state revenue in the first nine months of 2016 rose to 1,180 billion rupees from the 959 billion rupees earned […]
PTL Watch: Wide quotes, less participation in bonds
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Sri Lanka eyes bigger role for private sector: Oxford Business Group
Sri Lanka’s evolving trade and investment laws and their impact on FDI levels will be analysed in a report on the country by the global publishing firm Oxford Business Group (OBG). The Report: Sri Lanka 2017 will shine a spotlight on the Colombo Port City and Megapolis initiatives, which, together with other big-ticket projects, are […]
Sri Lanka & Italy renews driving license agreement for permanent residents
Sri Lankan Embassy in Rome together with the Ministry of Foreign Affairs in Rome, the Motor Traffic Department in Italy and Sri Lankan Motor Traffic authorities renewed the Bilateral Agreement for Mutual Recognition of Driving Licenses between Italy and Sri Lanka. The formal exchange of Notes took place on 14th December 2016 at the Ministry […]
Tokyo Cement starts pilot operations of new manufacturing plant
Tokyo Cement Company (Lanka) PLC commenced initial testing of a cutting-edge cement manufacturing plant in Trincomalee at a soft opening ceremony held on the 8th of December. The fully-automated, hi-tech plant is the company’s fourth mill and is slated to nearly double their production capacity when it begins commercial operations in February 2017. The cement […]
‘s
Dec 19, 2016 (LBO) – Moody’s Investors Service says that Sri Lanka’s (B1 negative) program with the International Monetary Fund (IMF) has helped stabilize the balance of payments and established an ambitious roadmap to fiscal consolidation and structural reform. The investors service however says sustained implementation of reforms will be challenging. The 2017 budget confirms the […]
‘s visit
Dec 19, 2016 (LBO) – Malaysia and Sri Lanka will consider the possibility of free trade agreement, a joint statement said, after the official visit of President Maithripala Sirisena to Malaysia. President Maithripala Sirisena was on a visit to Malaysia last week at the invitation of Malaysia’s Prime Minister Abdul Razak, during which five memoranda […]
Asia stocks find relief as China set to return seized US drone
TOKYO, Dec 19 (Reuters) – Asian shares steadied in early trade on Monday after China agreed to return a U.S. drone it had seized, easing worries about rising diplomatic tensions between the world’s two biggest economic powers. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent after falling to its lowest […]
‘s agriculture exports
Dec 19, 2016 (LBO) – Reducing non-tariff barriers (NTBs) in Sri Lanka is a significant step towards realizing untapped export potential within agricultural sectors such as fruit, vegetables, seafood and floriculture, trade experts say. Reducing domestic NTBs is a relatively easy but significant step towards encouraging diversification, where high transaction costs have acute implications on […]
IMF Video: Addressing Sri Lanka’s Economic Challenges
The government of Sri Lanka has decided to take on economic reforms, with the help of the IMF. The aim is to return the country to strong growth that will help improve lives for everyone. https://x.com/IMFNews/status/807244995770150912?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E807244995770150912%7Ctwgr%5E1d6e1432a39cde0c36b6c1922b81a67b69d1f2b5%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.lankabusinessonline.com%2Fimf-video-addressing-sri-lankas-economic-challenges%2F