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‘s President appoints more advisors
Jun 11, 2015 (LBO) – Sri Lanka’s former Prime Ministers, Ratnasiri Wickremanayake and D. M. Jayaratne were appointed as senior political advisors to the President, a statement said.Wickremanayake, is currently a Member of Parliament and served as the Prime Minister from August 2000 to December 2001, during the regime of the People’s Alliance Government and […]
EAP Broadcasting to get new rating for debt issue
June 11, 2015 (LBO) – Sri Lanka’s EAP Broadcasting Company Limited said that it has taken all the steps necessary to obtain another rating for its proposed debenture issue which was to be held today.Sri Lanka’s securities watch dog issued a directive to EAP Broadcasting Monday to hold its debt issue citing a conflict of […]
Developing countries to face tough challenges in 2015: World Bank
June 11, 2015 (LBO) – The World Bank says, that developing countries would face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs as they adapt to a new era of low prices for oil and other key commodities, resulting in a fourth consecutive year of disappointing economic growth […]
Sri Lanka PM ordered UDA to stop land acquisition in the Colombo District
June 11, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe instructed Urban Development Authority to immediately stop land acquisition activities in the guise of development in the Colombo District and to stop forceful evictions and acquisitions. A statement released by the Prime Minister’s Office said that the Chairman was further instructed to device a […]
‘s Hemas Holdings March net down 17.6-pct
June 11, 2015 (LBO) – Sri Lanka’s Hemas Holdings which has interests in consumer goods, power and leisure has posted a profit of 771 million rupees in the March 2015 quarter, down 17.6 percent from a year earlier, interim accounts showed. The group reported earnings of 1.50 rupees per share for the March quarter against […]
Sri Lanka to reduce its carbon foot print in energy production by switching to gas
June 11, 2015 (LBO) – Power and Energy Minister says Sri Lanka will stop using fuel based power plants and convert to natural gas in future to reduce the Island’s carbon foot print.“We have recently retired; high pollution and high cost fuel based power stations totaling 220MW,” “And are in the process of switching another 655 […]
‘s President appoints another round of deputy ministers
June 10, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed four Parliamentarians as Deputy Ministers on Wednesday evening. Wijaya Dahanayake has been appointed as the Deputy Minister of Public Order and Christian Affairs while Sanath Jaysuriya has been appointed as the Deputy Minister of Provincial Council and Provincial Development. Thilanga Sumathipala was sworn […]
Iranian merchant ship not carrying crude oil to Sri Lanka: Ministry of Foreign Affairs
June 10, 2015 (LBO) – Sri Lanka’s Ministry of Foreign Affairs said that the country will not unload any cargo of the Iranian merchant ship, F Whale and it is not carrying crude oil shipment to state-run Ceylon Petroleum Corporation. “We have information that the vessel of the name of F Whale under the Panama […]
Sri Lanka stocks close down 0.2-pct for third straight day
Jun 10, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.19 percent for the third consecutive day with investors continuing to keep away from trading due to the unstable political climate in the country, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 13.43 points lower at 7,053.68 down 0.19 percent. The […]
‘s Foreign Minister to visit Japan next week
June 10, 2015 (LBO) – Sri Lanka’s Foreign Minister Mangala Samaraweera will visit Japan from 17 to 20 June as a Guest of Japanese Foreign Affairs Minister Fumio Kishida.During the visit, Samaraweera will hold bilateral discussions with Minister Kishida on issues of mutual interest including promoting cooperation in the political, economic and cultural spheres, in […]
Sri Lanka’s three month treasury bill yields up
June 10, 2015 (LBO) – Sri Lanka’s six and twelve month treasury bill yields close flat at Wednesday’s auction with the three month yield up by one basis point, data from the state debt office showed.3-month yield was up at 6.08 percent with 13,974 million rupees were accepted from 19,770 million rupees of bids.6-month yield […]
Sri Lanka’s Seylan Bank launches new breed of credit cards
June 10, 2015 (LBO) – Sri Lanka’s Seylan Bank launched a new line of credit cards eliminating all fees and slashing down the interest rate, the bank said.“We found that while consumers appreciate the security and convenience offered by credit cards, they are increasingly weary of the plethora of fees charged,” Kapila Ariyaratne, Director and […]