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Polonnaruwa to become a metro city at cost of Rs16 bn
July 30, 2015 (LBO) – Sri Lanka’s north central heritage city Polonnaruwa to develop as a metro city at a cost 16,650 million rupees, cabinet spokesman Rajitha Senaratne said at a media briefing held Thursday. Polonnaruwa town and its nodal points known as Polonnaruwa, Kaduruwela and New Town are growing fast as Heritage City, Commercial […]
‘s outstanding public debt stands at Rs7.9 trillion
July 30, 2015 (LBO) – Sri Lanka’s total outstanding public debt including debt taken by state enterprises was 7,959,939 million rupees as at the beginning of the month of July 2015, cabinet spokesman Rajitha Senaratne said.Treasury Bonds stands at 3,629,903 million rupees where as treasury bills was 796,031 million rupees.Domestic debt was 5,313,713 million rupees […]
Sri Lanka to help Nepal renovate places of worship
July 30, 2015 (LBO) – Sri Lanka plans to send a group which is comprised of respective officers and technical craftsmen to Nepal to renovate places of worship which were damaged by the earthquake, the cabinet spokesman said. The Buddhist Temple in Swayambhunath and the Rato machindranath Hindu Kovil in Lalitpur, which were damaged by […]
” with stable outlook
July 30, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Continental Insurance Lanka’s national insurer financial strength rating and national long-term rating of ‘A-(lka)’ with a stable outlook. KEY RATING DRIVERS The ratings reflect CILL’s satisfactory capitalization in terms of regulatory solvency, relatively short operating history and modest market share. The ratings also reflect the […]
Sri Lanka’s Dankotuwa Porcelain to raise Rs722mn through rights issue
July 30, 2015 (LBO) – Sri Lanka’s tableware exporter Dankotuwa Porcelain is to raise 722 million rupees by way of a rights issue, the company said in a stock exchange filing.Subject to the necessary approvals, the company is to issue 90.31 million ordinary shares at 8.00 rupees each in the ratio of 5 for every […]
Sri Lanka’s Cargills profits surged in June quarter
July 30, 2015 (LBO) – Profits at Sri Lanka’s Cargills (Ceylon), with interests in retailing and fast moving consumer goods, jumped to 390.6 million rupees in the June quarter against a loss of 145 million rupees reported a year earlier, the interim accounts showed. The group reported earnings of 1.74 rupees per share for the […]
Fed keeps key interest rates unchanged after policy meeting
July 30, 2015 (LBO) – The United States Federal Reserve on Wednesday stayed quiet on key rate hike saying economic conditions warrant keeping the target federal funds rate below levels the Fed views as normal in the longer run. “The Committee anticipates that it will be appropriate to raise the target range for the federal […]
Sri Lanka exporters urged to be focused and add value: Harsha de Silva
July 30, 2015 (LBO) – Sri Lanka’s exporters should focus and export more value added goods and services with a target of surpassing Gross domestic product (GDP), Deputy Economic Policy Minister Harsha de Silva said.“I would like to see exports to GDP surpassing, that means more than 100 percent of GDP,” Silva said.“So that is […]
Sri Lanka rating supported by growth, constrained by govt finances: Moody’s
July 30, 2015 (LBO) – Sri Lanka’s credit outlook could improve if the government debt and interest payment ratios were to stabilize at considerably lower than current levels, Moody’s Investors Service said in a recent credit outlook report. Sri Lanka’s state credit is rated ‘B1’ below investment grade, by the rating agency. “Sri Lanka’s B1 […]
‘s cricket world cup winners
July 30, 2015 (LBO) – India’s Shreepati Edifice (Pvt) Ltd, a real estate developer will build a 96-floor tower, the tallest building in Sri Lanka, with an investment of 330 million rupees which will be a tribute to the Sri Lankan Cricket Team who won the World Cup in 1996. The Tubular structured state-of-the-art iconic […]
Happy with new faces selected for Sri Lanka’s T20 team: Malinga (VIDEO)
July 29, 2015 (LBO) – Sri Lanka’s T20 captain Lasith Malinga on Wednesday said he is quite happy with the current selections as it comprises of young players. “I’m happy with the team selection even though a lot of new players included in the team. This is the best time to try new players for […]
Microsoft launches Windows 10; free upgrade available now in Sri Lanka
July 29, 2015 (LBO) – Windows 10 will become available in 190 countries including Sri Lanka from Wednesday as a free upgrade or with new PCs and tablets, Microsoft Corporation announced. Windows 10 includes innovations such as Cortana, an Xbox app and Microsoft Edge for a familiar, yet more personal and productive, experience. The most […]