Author: lbostgadmin
Sri Lanka currency now competitive after float: CB Governor
Sept 28, 2015 (LBO) – Sri Lanka’s currency is now competitive after being floated last month and will support export growth, the central bank governor told media on Monday. “Like other currencies in emerging markets, the Sri Lankan currency has also adjusted to become slightly weaker against the U.S. currency,” Arjuna Mahendran, the central bank […]
Sri Lanka luxury property market under threat: OBG
Sep 28, 2015 (LBO) – Sri Lanka’s high end residential property market is at a possible risk as supply is set to overtake demand, a recent real-estate update by the Oxford Business Group said. The supply of luxury apartments in the commercial capital could reach 6000 units by 2018-19, according to a recent report by […]
Sri Lanka RDA engineers write to PM over DG demotion
Sept 28, 2015 (LBO) – Sri Lanka’s Road Development Authority Engineers’ Association (RDAEA) has written to the Prime Minister regarding the demotion of the Director General of the RDA as they have not yet received a response from the President’s office, a union official said. “We have written to the President, and we had a […]
‘s move away from pacifism closely watched by region
Sept 28, 2015 (LBO) – Japan’s move away from pacifism under Prime Minister Shinzo Abe will have regional repercussions, as the country looks towards an expanded military role, analysts say.Thousands of people protested in Tokyo as controversial bills that relaxed a ban on arms exports, aimed to develop weapons and increase the defense budget passed […]
Sri Lanka welcomes largest container vessel to Colombo port
Sep 25, 2015 (LBO) – Sri Lanka has welcomed the largest container vessel to Colombo port today morning, the ports and shipping ministry said.The UK registered vessel ‘Marco Polo’ has 16,020 containers of cargo carrying capacity.The vessel is 396 meters by the length and 29.9 meters of height and it was the world’s largest vessel […]
Central bank holds rates unchanged; private sector credit up 21 pct
Sept 25, 2015 (LBO) – Sri Lanka’s central bank held key interest rates unchanged on Monday despite credit to the private sector rising 21 percent due to low interest rates amid a further drop in foreign reserves. The Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank were […]
Foreign holding in govt securities falls by USD68 mn in last week
Sept 25, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors fell to 333.2 billion rupees in the week to September 23, from 342.8 billion rupees in the previous week, information from the central bank showed. This reflects an outflow of 9.6 billion rupees (68 million dollars) for the week, and […]
Sri Lanka RDA Director General demoted by new Minister-Updated
Sept 25, 2015 (LBO) – The director general of Sri Lanka’s Road Development Authority has been demoted by the new minister, a day after taking over the highways portfolio, an official said. Although this could be an attempt to clean up an institution notorious for corruption, it appears to be the opposite. The official in […]
Sri Lanka stocks edge lower, turnover picks up
Sep 25, 2015 (LBO) – Sri Lankan stocks closed lower 0.06 percent on Friday with investors concerned over domestic economic conditions, brokers said. The Colombo benchmark All Share Price Index closed down 4.03 points at 7,110.80 lower 0.06 percent. S&P SL20 closed 2.30 points lower at 3,889.52 down 0.06 percent. Turnover was 1.2 billion rupees, […]
South Asia Not Taking Full Economic Advantage of Urbanization: World Bank
Sep 25, 2015 (LBO) – South Asian countries have struggled to make the most urbanization and transform their economies to join the ranks of richer nations, a World Bank report released Thursday said. Difficulty in dealing with the pressures that increased urban populations put on infrastructure, basic services, land, housing and the environment have fostered what […]
‘ Chefs top medals list at Culinary Expo 2015
The culinary artists of SriLankan Catering showcased their creative prowess by claiming the highest number of medals at the recently held Culinary Expo 2015 exhibition.SriLankan Catering team bagged a staggering tally of 53 medals which was inclusive of 13 gold medals, 22 silver medals and 18 bronze medals.The team claimed the highest number of medals […]
New resolution is a step towards credible transitional justice process: John Kerry
Sep 25, 2015 (LBO) – United States Secretary of State, John Kerry in a statement said that the new resolution marks an important step toward a credible transitional justice process, owned by Sri Lankans and with the support and involvement of the international community.Full statement is reproduced below.Resolution on Sri Lanka at the 30th Session […]