Author: lbostgadmin
‘s Central Bank appoints new Assistant Governors
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‘s high credit growth to private sector plateauing: Governor
May 05, 2016 (LBO) – Credit growth to Sri Lanka’s private sector by commercial banks is a key variable followed in determining monetary policy. This number has been running high in recent months, rising to 26.5 percent in February, compared with 25.7 percent in January on a year-on-year basis, although the figure is down from […]
Guardian Capital Partners to invest in private equity projects in Sri Lanka
May 04, 2016 (LBO) – Guardian Capital Partners, a part of the listed Ceylon Guardian Investment Trust Group has entered into a joint venture agreement with Small Enterprise Assistance Funds (SEAF) in US to carry on a fund management business to manage and invest in private equity projects in Sri Lanka. The company said in […]
S. Korea asks Sri Lankan returnee workers to claim insurance benefits
The Employment Permit System Centre of the Human Resources Development Service of Korea (EPS Centre of HRD Korea) in Sri Lanka filed claims for returnee workers who previously worked in South Korea and were not compensated for their Return Cost (Air Ticket) Insurance and Departure Guarantee Insurance. The Return Cost Insurance should be obtained by […]
Megapolis should avoid mistakes by other South Asian cities: CCC Chairman
May 04, 2016 (LBO) – The Chairman of the Ceylon Chamber of Commerce says Sri Lanka should avoid mistakes made by other South Asian cities, when developing the proposed Western Megapolis Project. “A center piece of the government’s economic development agenda – the Western Region Megapolis project is set to have a massive urban infrastructure […]
PTL Watch: Bond yields ease, foreigners on buy side
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Sri Lanka to raise USD500 mln through syndicated loan: Governor
May 04, 2016 (LBO) – Sri Lanka is planning to raise 500 million dollars through a syndicated loan and terms are being discussed, the Central Bank Governor said. Citi Emirates, NDB, HSBC and Mashreq bank are expected to be mandated to arrange a 3-year term loan that will be repaid in installments, Bloomberg reported citing […]
Tourist arrivals in Sri Lanka up 20.0-pct upto April
May 04, 2016 (LBO) – Sri Lanka’s tourist arrivals for the first four months were up 20 percent to 721,185, official data said. In April arrivals rose 11.6 percent from a year earlier to 136,367 with continued gains in India and China. Visitors from India rose 12.3 percent to 25,890 in April while Chinese tourists […]
Slogal Energy buys stake in Laugfs Gas Bangladesh for USD9.2mn
May 04, 2016 (LBO) – A fully owned subsidiary of Laugfs Gas Plc, Slogal Energy DMCC, incorporated in Dubai has acquired 31 percent of the total issued shares in Laugfs Gas Bangladesh for 9.2 million US dollars. Laugfs Gas Plc said in a stock exchange filing that they own the balance 69 percent shareholding of […]
Mawilmada to head Sri Lanka Megapolis investments
May 04, 2016 (LBO) – Nayana Mawilmada has joined Sri Lanka’s Western Region Megapolis Planning Project (WRMPP) as head of investments, leaving his role as director general of the Urban Development Authority. Aside from continuing to lead some of the planning efforts, Mawilmada will function as the primary interface between the Megapolis project and potential […]
50th Anniversary of Washington Buddhist Vihara
Washington Mayor Muriel Bowser attending the 50th Anniversary of the establishment of the Washington Buddhist Vihara on May 1, 2016 declared the day as “the Washington Buddhist Vihara Day”, recognizing in the Declaration that the District of Columbia is the home to the first Theravada Buddhist Temple in America and that the Vihara has been […]
New agencies to fast track Sri Lanka investment approvals
May 04, 2016 (LBO) – Sri Lanka’s government will fast track the approval of investment projects through the setting up of two new agencies, a state minister said in a statement. “Ideally the time frame for approval of projects should be about two months,” Sujeewa Senasinghe, state minister, Development Strategies and International Trade, said. “The Government is […]