Author: lbostgadmin
Sri Lanka stocks close higher at 0.02-pct
May 11, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.02 percent with active trading seen in the livestock and some baking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed 1.16 points higher at 7,213.63 up 0.02 percent. The S&P SL20 closed 6.72 points higher at 4,065.34 up 0.17 percent. […]
Sri Lanka’s state owned Lankaputhra bank in trouble due to unpaid loans
May 11, 2015 (LBO) – Sri Lanka’s state owned Lankaputhra bank is going through a hard time due to non-performing loans given on the instruction of the Rajapakse regime, the Bank’s Chief told reporters at a press briefing held Colombo. Lankaputhra started operations in 2006 with an aim to finance and uplift small and medium […]
Sri Lanka to introduce regulated energy pricing formula soon: Minister
May 11, 2015 (LBO) – Sri Lanka’s subsidized energy sector will be introducing a regulated pricing formula for fuel prices soon, the Minister of Power and Energy Ministry said.“We are planning on introducing a fuel pricing formula linked to electricity tariffs or one that would change prices every three months based on global prices in […]
Sri Lanka’s Finance Minister to sue former President
May 11, 2015 (LBO) – Sri Lanka’s finance minister Ravi Karunanayake said today that he will sue the former President for defamation charge of two billion rupees.The legal action of defamation follows the Rajapakse’s statement to media saying that the Finance Minister Karunanayake had instructed Lankaputhra Bank which is fully owned by the government to […]
‘s government denies political intervention into FCID
May 11, 2015 (LBO) – Sri Lanka’s government on Monday denied any sort of undue political intervention into the Financial Crimes Investigation Division and assures the independence of the investigations carried out by all the law enforcement agencies in the country.Issuing a statement the Prime Minister’s office said the Financial Crimes Investigation Division (FCID) is […]
Stop deforestation and land allocation around Wilpattu national park: President
May 11, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has issued a special decree prohibiting allocation of lands and clearing the surrounding areas of the Wilpattu national park, a statement said. The decree comes into force with immediate effect and are applicable to the districts of Mannar and Vavuniya. The statement says that the […]
FM Mangala receives bone relics from Myanmar for Vesak viewing at the airport
Foreign minister Mangala Samaraweera recieved bone relics of the Buddha late last night at the airport.The relics which will remain in Sri Lanka over the Vesak period are housed in the Mandalay Museum in Myanmar. This is the second time in history that the relics have been exposited abroad and are thus a rare opportunity […]
‘ meeting Monday
May 10, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena is scheduled to present the proposed 20th Amendment to the constitution at the all political party representatives’ meeting to be held Monday (11), a government media report said.“It will then be presented to the Cabinet of Ministers on May 13 and to Parliament on May […]
Sri Lanka’s oil mafia spreads false propaganda; no fuel shortage: Power Ministry
May 09, 2015 (LBO) – Sri Lanka’s Power and Energy Ministry says there is no fuel shortage in the country and requests people not to be misled by false propaganda.Oil mafia earlier spread a false statement saying oil prices will be increased shortly and now they are pretending an oil shortage in the country, the […]
Sri Lanka stocks close flat
May 08, 2015 (LBO) – Sri Lanka’s stocks closed flat with investors continuing to take profits, brokers said. The Colombo benchmark All Share Price Index closed 0.43 points lower at 7,212.47 down 0.01 percent. The S&P SL20 closed 0.77 points lower at 4,058.77 down 0.02 percent. Turnover was 633.7 million rupees down from 1.16 billion […]
Sri Lanka exports up 5.8-pct in Feb; imports rise at a faster 7.7-pct
May 08, 2015 (LBO) – Sri Lanka’s exports rose 5.8 percent to 891.4 million US dollars in February 2015 from a year earlier driven by apparel exports, official data showed.Apparel exports rose 6.0 percent to 419.9 million US dollars and other industrial exports rose 15.8 percent to 117.6 million US dollars. Petroleum product exports rose […]