Author: lbostgadmin
Sri Lanka foreign reserves at USD5.3 billion by end June: Central Bank
July 08, 2016 (LBO) – Sri Lanka’s official reserves were 5.27 billion US dollars at the end of June, down from 5.64 billion US dollars end of May, latest Central Bank data showed. Foreign currency reserves were 4.25 billion dollars, and reserves in Gold were 0.94 billion dollars. Finance Minister Ravi Karunanayake however told Parliament […]
ADB to increase funding up to USD2bn in next three years
Jul 08, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2017 through 2019, a senior official said. “ADB is re-orienting our operations internally and as a result have more capacity for lending programmes,” Wencai Zhang, Vice President (Operations […]
Maximum retail prices of VAT excluded essential goods to be re-gazetted
July 08, 2016 (LBO) – Sri Lanka’s cabinet is scheduled to meet next Tuesday to decide on the maximum retail prices of VAT excluded essential goods, Minister of Industry and Commerce said. Minister Bathiudeen, addressing the Parliament today, said VAT is applied to certain commodities, though no VAT component is applied for essential food items. […]
‘ dollar sales
July 8 (Reuters) – The Sri Lankan rupee ended firmer in one-week forwards on Friday, as foreign banks sold dollars on behalf of offshore investors to buy local bonds, dealers said. The spot rupee is tightly managed by the central bank and market participants use the forward market levels for guidance on the currency. Dealers […]
Foreign Minister Mangala Samaraweera welcomes Chinese Foreign Minister
Foreign Minister Mangala Samaraweera welcomed Chinese Foreign Minister Wang Yi at the Foreign Ministry on his official visit to Sri Lanka.
Brexit won’t have major impact on Sri Lankan apparel: Colombo Chamber
July 08, 2016 (LBO) – Sri Lanka needs to develop a strong local economy that is not vulnerable to changes caused by international incidents, president of Colombo Chamber of Commerce, Dr. Amila Kankanamge said expressing his views on Britain leaving the European Union. Even though Brexit may not have a large impact on the Sri […]
Sri Lanka’s BOI and EDB explores areas for co-operation
A meeting was held recently between the Board of Investment of Sri Lanka and the Export Development Board, to explore areas of co-operation between the two key economic agencies and work closer towards achieving the nation’s economic goals. Both institutions now come under the Ministry of Development strategies and International Trade headed by Minister Hon. […]
Sri Lanka’s DIMO, Uni of Moratuwa unveils formula student race car
Jul 08, 2016 (LBO) – Diesel & Motor Engineering (DIMO), an automobile company together with the engineering students from the Mechanical Engineering Department of University of Moratuwa, unveiled “D-Mora P1,” a car to compete in world’s biggest student motorsport competition. “The University of Moratuwa is the one of the main hubs of engineering and technical […]
‘s internally displaced: cabinet
July 08, 2016 (LBO) – Sri Lanka will set up a task force for the resettlement of “Protracted Internally Displaced Persons” in the Northern Province, a cabinet statement for this week said. “IDPs were seen since the 1980s due to the conflict situation. These include Tamil as well as Sinhala and Muslim families in the […]
Asia stocks steady, look to US jobs to soothe Brexit anxiety
July 8 (Reuters) – Asian shares were steady in early Friday trade as investors brace for U.S. jobs data to see if the world’s no. 1 economy is resilient enough to weather the fallout from the Brexit vote. MSCI’s broadest index of Asia-Pacific shares outside Japan were down 0.1 percent while Japan’s Nikkei was up […]
Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K
July 07, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Thursday that the country has seen an upward movement in foreign reserves after Brexit. Finance Minister pointed out that the country now has reserves sufficient for 4 months of imports. “We can see that there is an advantage in Brexit to Sri […]
‘s counterpart tomorrow
Chinese Foreign Minister Wang Yi is scheduled to meet Sri Lanka’s counterpart Foreign Minister Mangala Samaraweera tomorrow at the Foreign Ministry.