Author: lbostgadmin
Section of Colombo Outer Circular Expressway to open Sept 17: JICA
Sept 15, 2015 (LBO) – Sri Lanka’s Kaduwela to Kadawatha section of the Colombo outer circular expressway (E02) will be declared open on September 17, Japan’s development agency JICA said. Lakshman Kiriella, the minister for highways, Kenichi Suganuma, ambassador of Japan to Sri Lanka, and Hiroyuki Abe, senior representative of JICA, will attend the event. […]
India likes to see trade become more balanced for Sri Lanka: Indian PM
Sep 15, 2015 (LBO) – India would like to see bilateral trade grow and become more balanced for Sri Lanka since both countries desire deeper economic engagement, Indian Prime Minister said. Speaking at the joint press briefing with Sri Lankan PM, Indian Premier Narendra Modi said the two countries discussed the ways to achieve these […]
Central Bank directs banks to reduce loan ratio on motor vehicles
Sept 15, 2015 (LBO) – Sri Lanka’s Central Bank has issued a directive to commercial banks, speciaized banks and financial institutions to reduce the loan to value (LTV) ratio to 70 percent in respect of loans granted for purchases or utilisation of motor vehicles. “The Central Bank of Sri Lanka has observed with concern the […]
Sri Lankan Prime Minister meets Indian Prime Minister and External Affairs Minister
Meeting with Narendra Modi, Prime Minister of India at Hydrabad House: Call by Sushma Swaraj, Minister of External Affairs of India at Hotel Taj Palace Delhi:
Sri Lanka female labor force should shift into technology-related sectors: ADB
Sep 15, 2015 (LBO) – Sri Lanka’s female labour force needs to shift from traditional jobs in education and health sector to more technology-related ones, a recent ADB study indicates. “Few women have reached the highest level in the employment hierarchy in the judiciary, universities, scientific professions, and in private enterprises,” the Asian Development Bank […]
World Bank says Shortage of Long-Term Finance Blunts Progress in Developing Countries
Sep 15,2015 (LBO) – A shortage of long-term financing since the 2008 crisis is choking the investment-backed growth of companies in developing countries and hampering the ability of credit-worthy families to borrow for education and housing needs and escape poverty, a new World Bank report warned.“It would be a challenge to achieve high and sustainable […]
Sri Lanka Planters Association says tea industry might survive with new pay model
Sep 15, 2015 (LBO) – Sri Lanka’s Planters Association says that tea industry, which is in a revenue crisis, might have a chance to survive if its new productivity-linked wage model presented to employees is accepted by them.“The employers’ ability to pay is a very important and critically fundamental aspect when labour wages are negotiated,” […]
‘s visit to India
Prime Minister Ranil Wickremesinghe received by Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce and industry at Indira Ghandi International Airport today (14.09.15)
High number of Sri Lanka vehicle registrations continue: JB Securities
Sept 14, 2015 (LBO) – Vehicle registration momentum continued into August although in most categories the numbers were lower than the all-time records set in July, JB Securities said in a research note. Total registrations were 50,555 in August lower than 62,221 recorded in July – the main contributor to the slowdown was a fall […]
Fitch Withdraws Rating on Ceylon Income Fund; Ceylon Asset Management responds
Sep 14,2015 (LBO) – Fitch Ratings said it has withdrawn Ceylon Income Fund’s National Fund Credit Quality Rating of A(lka)’ saying there is no National Volatility Rating assigned to the fund, which is managed by Ceylon Asset Management.Following the Securities and Exchange Commission of Sri Lanka not renewing the license of Lanka Rating Agency (LRA), in July 2015, […]
Sri Lanka to establish two mechanisms for truth seeking with new constitution: FM
Sep 14, 2015 (LBO) – Sri Lanka’s government is to set up new independent, credible and empowered mechanism for truth seeking process, Foreign Minister Mangala Samaraweera said. Speaking at the opening session of the 30th UN Human Rights Council session a short while ago minister said the new mechanism will uphold justice, reparations and guarantees […]
Sri Lanka stocks close up 0.13-pct: JKH warrant 22 hits new low
Sep 14, 2015 (LBO) – Sri Lankan stocks closed up 0.13 percent on Monday following Foreign Minister Mangala Samaraweera’s statement at UN Human Rights Council session with some banks and high cap stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 8.95 points at 7,162.44 higher 0.13 percent. S&P SL20 closed […]