Author: lbostgadmin
Sri Lanka to get USD165mn credit to up access to piped water servicers
June 29, 2015 (LBO) – The World Bank Board has approved a 165 million US dollars credit for Sri Lanka to increase access to piped water services and improved sanitation in the Mullaithivu, Kilinochchi, Nuwara Eliya, Badulla, Monoregala, Kegalle and Ratnapura Districts. The bank says around 450,000 people are expected to benefit under the project, […]
Greek Debt Crisis – Bloody Monday in Asian Markets
June 29,2015 (LBO) – Greek’s decision to close banks has caused erosion in investor confidence across Asia as evident by Billions wiped out in Monday morning trade in key Asia Pacific Markets. Despite the China’s weekend rate cut, Shanghai lost 0.4 percent. Nikkei and Hang Seng lost 2 percent and 1.7 percent respectively. All markets […]
Sri Lanka signs articles of agreement for Asian Infrastructure Investment Bank
June 29, 2015 (LBO) – Sri Lanka on Monday signed the articles of agreement for the China led Asian Infrastructure Investment Bank which is expected to be operational by the year end. Representatives from 57 prospective founding members of the Asian Infrastructure Investment Bank including Sri Lanka gathered on 29 June 2015 in Beijing at […]
Designated envoys to Philippines and Vietnam visits Ceylon Chamber of Commerce
The Ceylon Chamber of Commerce recently, facilitated a meeting between Sri Lanka’s designated envoys to Vietnam and Philippines, respectively Hasanthi Dissanayake and Aruni Ranaraja and some local companies, who are doing business with the respective countries to discuss matters relating to trade and commercial ties between Sri Lankan and those two countries. During the discussion, […]
Sri Lanka keeps key policy rates steady, credit to private sector grows in April
June 29, 2015 (LBO) – Sri Lanka’s Central Bank has decided to maintain its standing deposit facility rate and the standing lending facility rate unchanged at 6.00 percent and 7.50 percent, respectively. The Central Bank’s monetary board at its meeting held on 26 June 2015 has also decided to keep statutory reserve ratio stable at 6.00 […]
Sri Lanka’s Bartleet Finance and Orient Finance to be merged
June 29, 2015 (LBO) – Sri Lanka’s Bartleet Finance Plc, and Orent Finance had been given approval by shareholders, to merge both companies, Orient Finance said in a stock exchange listing.“Existing shareholders would get a payment of 14.97 rupees per share for every one ordinary share of Orient finance or 01 ordinary voting share in […]
We had differences over the economic framework: Prime Minister
June 29, 2015 (LBO) – Sri Lanka’s Premier Ranil Wickramasinghe says they had different views within the coalition parties over the economic policy in the island.The United National Party, several other major political parties and civil society organizations aligned together at the last presidential election to support common candidate Maithripala Sirisena. “We had a consensus on […]
ICC urges Sri Lanka Cricket to hold its elections before October
June 27, 2015 (LBO) – The International Cricket Council has urged Sri Lanka’s Sports Minister to hold elections before the next ICC Board meeting in October, saying the ICC may take further action against Sri Lanka Cricket in the event of further non-compliance. The decision has been taken at the ICC Annual Conference concluded yesterday in […]
Sri Lanka’s Parliament to be dissolved midnight today
June 26, 2015 (LBO) – Sri Lanka’s Parliament is to be dissolved with effect from midnight today, extraordinary gazette notification issued by the government printer said.According to the gazette, elections are to be held in 17 August 2015 and the next Parliament will be convened on 01 September 2015. Nominations will call from 06 July to 15 […]
Sri Lanka signs loan agreements with OPEC fund for international development
June 26, 2015 (LBO) – Sri Lanka’s government has signed two loan agreements with OPEC fund for international development on Friday to obtain a part financing for rehabilitation of a A5 road corridor from Badulla to Chenkaladi. The road which is one of the major highways linking parts of the Central Province to Eastern Province […]
Nation Lanka finance to issue Rs502mn right issue
June 26, 2015 (LBO) – Sri Lanka’s Nation Lanka finance, a finance company to issue 502 million right issue to existing shareholders to strengthen the core capital of the company. The company will issue 502,326,522 shares in a proportion of two shares for every one share held, the company said in a stock filing. A […]
Sri Lanka to implement capital loan scheme for tea; guaranteed price for rubber
June 26, 2015 (LBO) – Sri Lanka’s cabinet has decided to implement a capital loan scheme for the tea industry and a guaranteed price scheme for the natural raw rubber. The capital loan scheme will be implement for all owners of tea industries through all State and Commercial Banks. The Cabinet has approved to provide […]