Author: lbostgadmin
Sri Lanka cannot expect IMF to come and sort out problems: Razeen Sally
Dec 18, 2015 (LBO) – Sri Lanka might need IMF funds as money flow tightens in the future with global economic complexity but the government cannot expect a bail out by the IMF after acting irresponsibly, Professor Razeen Sally said in a forum held Thursday.“There is a lot of talk, as in the past, about […]
Turkey to provide USD350mn for development projects in Sri Lanka
Dec 17, 2015 (LBO) – Finance Ministry is to enter into an agreement with Turkey that will enable Sri Lanka to have 350 million US dollars from Turk Exim Bank to implement development projects in Sri Lanka.The cabinet has approved a proposal to sign this MOU with the intention of strengthening the financial relationship with […]
A time for optimism: inaugural Australia – Sri Lanka senior officials’ talks
Department of Foreign Affairs and Trade Deputy Secretary Ric Wells led the Australian delegation to inaugural Senior Officials’ Talks with Sri Lanka on 16 December in Colombo.Wells and his counterpart from the Sri Lankan Ministry of Foreign Affairs, Additional Secretary Ranjith Uyangoda, discussed opportunities in trade and investment, development assistance, reconciliation and human rights, as well as people-to-people links. Australia […]
Brandix wins 8 Presidential Export Awards
The Brandix Group’s contribution to the country’s export economy was recognized at the highest level this week when Sri Lanka’s single largest apparel exporter was presented with eight Presidential Export Awards at a ceremony presided over by the country’s Head of State. Brandix was recognised as the Sri Lankan Exporter of the Year in […]
Commercial Bank celebrates Christmas with carol service
Staffers of the Commercial Bank of Ceylon displayed another facet of their versatility recently, when they celebrated the advent of Christmas at the Bank’s annual carol service. A 60-strong choir entertained guests at the Bishop’s College auditorium at the event, themed ‘Miracle in a manger.’ Music for the event was provided by a band made […]
We are not dictated by IMF policy: Finance Minister
Dec 17, 2015 (LBO) – Sri Lanka’s Finance Minister told Parliament Wednesday that the country has a strong balance of payments environment and rejected reports of a gloomy outlook for 2016. “There is no issue with the balance of payments. Our problem is with the trade balance. Our exports have decreased and imports increased,” Finance […]
PTL Watch: Little activity ahead of bond auction
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“If required by MR, able to sell Mihin Air for one rupee” – Eran
Dec 17, 2015 (LBO) – Sri Lanka’s Deputy Minister of Public Enterprise Development Eran Wickramaratne proposed that if required by former President Mahinda Rajapaksa, the incumbent government is able to sell ‘Mihin Air’ over to him for a rupee. “Losses incurred by Mihin Air at present stands at Rs. 1600 million,” Wickramaratne said in a […]
US Fed raises rates by 25 bp, first hike since 2006
Dec 17, 2015 (LBO) – The US Federal Reserve has raised interest rates by 25 basis points, its first increase since 2006. Fed Chair Janet Yellen said the move would be followed by “gradual” tightening as officials watch for signs of higher inflation. The target for the Fed funds rate was unanimously set at 0.25 […]
Information Bank for economic diplomacy soon, says Harsha De Silva
Dec 16, 2015 (LBO) – Sri Lanka plans to launch a ‘Knowledge Platform,’ an online internet information bank to promote economic diplomacy, Deputy Minister of Foreign Affairs, Harsha de Silva said.The platform would be launched by the end of the first quarter of 2016. De Silva revealed this during the second meeting of the Inter […]
Ambassador Shannon meets PM
Under Secretary of State (Designate) Ambassador Shannon met Prime Minister Ranil Wickremesinghe today (16.12.2015) at Temple Trees. U.S Ambassador to Sri lanka Atul Keshap, Deputy Assistant Secretary of State for South and Central Asian Affairs Das Anand, Special Assistant Anupama Prattipati and Southern Development, Law and Order Minister Sagala Rathnayake also participated at this event.
S&P Dow Jones announces changes in S&P Sri Lanka 20 index
Dec 16, 2015 (LBO) – S&P Dow Jones Indices has announced the changes in S&P Sri Lanka 20 index constituents effective from December 21, 2015, the Colombo Stock Exchange said. Accordingly, Bukit Darah, Carson Cumberbatch, Lion Brewery Ceylon and Sri Lanka Telecom will be removed from the S&P Sri Lanka 20 index as they no […]