Author: lbostgadmin
Sri Lanka year in review 2015: OBG
Dec 21, 2015 (LBO) – Sri Lanka has emerged with a renewed emphasis on economic reforms and fiscal consolidation, which has allayed concerns for many local and foreign investors, a year end review by the Oxford Business Group said. Full statement follows……. In the wake of general elections earlier this year, Sri Lanka has emerged […]
Sri Lanka stocks close lower 0.04-pct: Five month low
Dec 21, 2015 (LBO) – Sri Lankan stocks closed lower at 0.04 percent after five consecutive days of gains with low investor activity ahead of Christmas and New Year holiday’s, brokers said. The Colombo benchmark All Share Price Index closed lower at 2.94 points at 6,881.75 down 0.04 percent. S&P SL20 closed 4.39 points up […]
Govt to save Rs15bn by moving its accounts to private banks: FM
Dec 20, 2015 (LBO) – Sri Lanka’s Finance Ministry is to transfer part of the government accounts maintained by the state banks to private banks in order to reduce state expenditure.Finance Minister Ravi Karunanayake told Parliament Saturday that there will be a cost saving of about 15 billion rupees through the new proposal.“State banks currently […]
Sri Lanka gets UK assistance for serious fraud investigations
Dec 19, 2015 (LBO) – Sri Lanka is the first country in the world that received a tailored package of training from a senior investigator of UK Serious Fraud Office, UK’s Deputy High Commissioner to Sri Lanka, Laura Davies, said in a recent blog post.According to Davies the UK was one of the first to […]
First Round of Senior Officials’ Talks between Sri Lanka, Australia concludes
The First Round of Senior Officials’ Talks between Sri Lanka and Australia was held on 16 December 2015 at the Ministry of Foreign Affairs in Colombo. The Senior Officials’ Talks between the two countries served as the first formal process to comprehensively review the bilateral relationship spanning over six decades. The talks broadly focused on […]
US Ambassador meets Megapolis and Western Development Minister
U.S. Ambassador Atul Keshap met today with Minister of Megapolis and Western Development Champika Ranawaka.During the meeting, Ambassador Keshap and Minister Ranawaka discussed future infrastructure projects essential to Sri Lanka’s prosperity, energy production and environmental protection, and progress on the development of a new constitution. Ambassador Keshap stressed “the United States supports the Sri Lankan […]
Motor car registrations high at 10,054 in November: JB Securities
Dec 18, 2015 (LBO) – Vehicle registration momentum continued into the month of November due to the pre-Nov 20 budget surge and relaxation of LTV rule, JB Securities said in a research note. Total motor cars registrations recorded 10,054 units in Nov slightly down from 10,349 units in Oct but significantly higher than 2,419 units […]
PTL Watch: Yield curve up after bond auction
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Working to make Sri Lanka mine-impact free by 2020 a reality
The High Commissioner of Canada to Sri Lanka and Maldives, Her Excellency Shelley Whiting was honoured to host the Minister of Foreign Affairs, Honourable Mangala Samaraweera on 17 December to visit a Mines Advisory Group (MAG) demining site in Mannar to view demining activities being undertaken with Government of Canada funding. Minister Samaraweera and High […]
President controls smaller share of govt expenditure: Manthri.lk
Dec 18, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena controls a smaller percentage of total government expenditure compared with his predecessor Mahinda Rajapaksa, according to budget analysis conducted by Manthri.lk. The former president had 1.6 trillion rupees under his portfolios, while the current president has 377 billion rupees under his purview. Manthri.lk profiles the […]
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 […]