Author: lbostgadmin
Sri Lanka needs to look beyond developing infrastructure to uplift economy: New CCC Chief
June 26, 2015 (LBO) – Sri Lanka needs to look beyond developing infrastructure as a strategy to uplift the economy and minimize the gaps between urban and rural sector through regional inclusivity, strengthening small and medium enterprises and development of education and skill, a chamber official said. “Looking back we have achieved much but fresh […]
ADB gives USD453mn loan for dry zone water projects
June 26, 2015 (LBO) – The Asian Development bank is to grant a loan of 453 million US dollars to help deliver surplus water from the Mahaweli river basin to the dry zone, a statement said.“Sri Lanka has abundant water resources but they are not distributed evenly across the country,” Lance Gore, ADB Water Resources Specialist said in the […]
Sri Lanka gross official reserves at USD7.6bn this week: Central Bank
June 26, 2015 (LBO) – Sri Lanka’s gross official reserves are estimated to have increased to 7.6 billion US dollars as of 22 June 2015, and expected to stabilize at comfortable levels in the coming months, the Central Bank said.Proceeds of the latest international sovereign bond, Sri Lanka development bonds and the currency swap arrangement […]
We won’t dissolve parliament without enacting 20th amendment: Rajitha Senaratne
June 25, 2015 (LBO) – Sri Lanka’s cabinet spokesman Rajitha Senaratne said the government will not be dissolved without first enacting the 20th amendment to the constitution which includes election reforms.“Everyone supported in removing presidential powers,” Senaratne said. “But they have a problem when something is affecting their powers,” “Even I will be affected. But […]
Pakistan High Commission Welcomes Pakistan Cricket Team in Colombo
The High Commissioner of Pakistan in Sri Lanka Maj Gen Syed Shakeel Hussain hosted a banquet in Colombo to welcome Pakistan cricket team, which is visiting the Island nation to play 3 Tests, 5 ODIs and 2 T20s with their Sri Lankan counterparts. Welcoming the Cricketers in Sri Lanka, HE Shakeel Hussain said that Pakistani […]
Exports drop 7.4-Pct in April 2015 YOY; trade gap widens: Central Bank
June 25, 2015 (LBO) – Sri Lanka’s export earnings dropped 7.4 percent to 708 million US dollars in April 2015 from a year earlier mainly due to the reduction in tea and petroleum product exports, the Central bank said. The reductions recorded in exports earnings from tea, petroleum products, sea foods, rubber products, textiles and […]
Sri Lanka sells USD327mn of 1, 3 and 5 year development bonds
June 25, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 100 million US dollars have been oversubscribed with 357.00 million US dollars of bids received from investors.The central bank has accepted 255.00 million US dollars of one year bonds at a floating rate of weighted average margin over six month LIBOR […]
Stocks close down 0.3-pct ahead of possible polls call
June 25, 2015 (LBO) – Sri Lanka’s stocks closed lower with index heavy stocks losing ground ahead of possible dissolution of Parliament, brokers said. The Colombo benchmark All Share Price Index closed 22.50 points lower at 7,031.33 down 0.32 percent and the S&P SL20 closed 14.34 points lower at 3,913.06 down 0.37 percent. Turnover was […]
Sri Lanka’s Finance Minister demands Rs2bn from Bandula; sends letter of demand
June 25, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has sent a letter of demand to Parliamentarian Bandula Gunawardena demanding two billion rupees as defamation charges.Gunawardena who has participated in a debate on a local TV channel has said that three million US dollars has come from Raj Rajaratnam of USA to Karunanayake’s […]
International Cricket Council confirms Zaheer Abbas as new President
June 25, 2015 (LBO) – Former Pakistan captain Zaheer Abbas has assumed the role of the ICC President on day three of the 105 member ICC Annual Conference week in Barbados on Wednesday.Zaheer began his one-year term and thanked the ICC Board and the Full Council for confirming his nomination, ICC said in a statement. […]
World Bank to give USD50mn for early childhood development in Sri Lanka
Jun 25, 2015 (LBO) – The World Bank said it has approved a 50 million US dollar credit to improve the quality and increase access to Early Childhood Development (ECD) services in Sri Lanka. “Early investment in human capital development is particularly effective at increasing the ability of disadvantaged children to access learning opportunities,” a […]
JKH waterfront properties finalise USD395mn loan
June 25, 2015 (LBO) – Sri Lanka’s Waterfront properties limited, a subsidiary of John Keells holding said it has finalized a syndicated project development facility amounting to 395 million US dollars with Standard Charted bank, concluding the required debt finance for the project. The financing will be utilize for developing the waterfront project in the […]