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Sri Lanka bloated public sector needs HR reforms to create national prosperity: HR expert
June 17, 2015 (LBO) – Sri Lanka’s laid back public sector needs human resource reforms to help the country move forward and create national prosperity, a human resource expert said.“Unfortunately it reminds me the value of human resource development is yet to develop in the public service who is expected to make a crucial contribution […]
Sri Lanka’s Parliament to debate no confidence motion against Finance Minister on July 06
June 16, 2015 (LBO) – Sri Lanka’s Parliament is to debate no confidence motion against Finance Minister on July 06, Leader of Mahajana Eksath Peramuna, Dinesh Gunawardena told LBO. The decision has been taken at a party leaders meeting held today. “We opposed the date because the debate will get delayed for another month.They had […]
Sri Lanka Freedom Party appoints committee to cooperate with Mahinda Rajapaksa
June 16, 2015 (LBO) – Sri Lanka Freedom Party on Tuesday appointed a six member committee to cooperate with former President Mahinda Rajapaksa, General Secretary of SLFP Anura Priyadarshana Yapa told LBO. The six member committee led by John Seneviratne also includes Dilan Perera, T.B. Ekanayake and Kumara Welgama. Anura Priyadarshana Yapa and Susil Premajayantha […]
Sri Lanka stocks close down 0.5-pct: JKH recording losses
Jun 15, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.49 percent following two straight days of gains with losses in stocks like JKH, Nestle Lanka and Bukit Darah, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 34.37 points lower at 7,044.60 down 0.49 percent. The S&P SL20 closed 15.90 […]
ICRA Lanka assigns [SL] A- rating for Commercial Leasing and Finance proposed debt issue
June 16, 2015 (LBO) – ICRA, a group company of Moody’s Investors Service has assigned a [SL] A- rating with a stable outlook for the Commercial Leasing and Finance Company’s proposed debt issue of 5.0 billion rupees. Full text of the statement issued by ICRA Lanka is reproduced below. ICRA Lanka Limited, a wholly owned […]
Sri Lanka’s Power Minister pays double for coal purchase: Udaya Gammanpila
June 16, 2015 (LBO) – Sri Lanka’s Power Minister is currently paying almost double for the purchase of coal at current world prices, Western Provincial Councilor Udaya Gammanpila charged.Gammanpila, who broke away from the JHU at the last Presidential election, accuses his former ally Champika Ranawaka for intervening an alleged tender deal saying it is a mega deal. According […]
Sri Lanka’s GDP grows 6.4-pct in 2015 first quarter
Jun 16, 2015 (LBO) – Sri Lanka’s economy grew at 6.4 percent in the first quarter of this year with growth in the services sector, the statistics office said. The growth rates for the 2015 first quarter for services was 7.5 percent, industries 6.5 percent and agriculture 0.7 percent, the Census and Statistics Department said […]
Sri Lanka securities regulator to allow short selling in equity markets
June 16, 2015 (LBO) – Sri Lanka’s securities watchdog, the Securities and Exchange Commission says it is currently looking at the regulatory frame work to allow short selling in the equity markets. “We are thinking of short selling for the equity market with certain guild lines.” Director General of the Securities and Exchange Commission, Vajira […]
Investments will flow into Sri Lanka after polls: CBK
June 16, 2015 (LBO) – Investors are waiting for the upcoming election to finish in order to bring in new projects to Sri Lanka, former President Chandrika Bandaranayake Kumaratunge said.“We need to bring in investments and now the investors are ready to come,” she said at a recent media conference. “Because they know that the […]
Sri Lanka’s FLC Hydro Power commissions its fourth power plant
June 15, 2015 (LBO) – Sri Lanka’s FLC Hydro Power which has interests in building, owning, operating and maintaining hydro power generation facilities in the island has commissioned its 800Kw plant on 11 June 2015.Newly built mini hydro power plant is owned by Thebuwana mini hydro private limited which is a wholly-owned subsidiary of FLC […]
Sri Lanka stocks close up 0.3-pct for second straight day
Jun 15, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.33 percent for a second consecutive session with index heavy stocks making gains Monday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 17.69 points higher at 7,78.97 up 0.33 percent. The S&P SL20 closed 12.95 points higher at 3,926.96, up 0.25 […]
Singer Finance to enter the Credit Card business
June 15, 2015 (LBO) – Sri Lanka’s Singer Finance said it plans to launch a credit card in the latter half of this year targeting rural consumers, the company told shareholders in its annual report of 2014/2015. The company said that it has applied to the Central Bank of Sri Lanka for a license to […]