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Sri Lanka’s business Chamber urges speedy election; Political uncertainty driving investors away
Apr 19, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of commerce says, the prevailing political uncertainty impacts negatively on the economic and business environment in the Island and to restore confidence and attract investment, parliamentary elections must be held expeditiously. The chamber says even though it appreciates the diverse positions taken on the forthcoming general […]
Sri Lanka’s CB governor not guilty : Bond Investigation Report
Apr 19, 2015 (LBO) – The committee appointed by the Prime Minister to probe the controversial 30 year bond has found that Central Bank governor Arjuna Mahendran had no direct participation in the incident, a statement issued by the Economic Affairs Ministry said. “The Committee concluded that there was no evidence to the effect that […]
Sri Lanka’s 100 day programme to be observed by IMF, ready to support in future: Finance Ministry
Apr 18, 2015 (LBO) – Sri Lanka’s new government’s 100 day programme would be closely observed by the International Monetary Fund (IMF), a statement released by the Finance Ministry said.“The IMF is pleased to see the reliefs that the new rulers have provided for people though the 100 day programme and would like to provide […]
Sri Lanka stocks close up 0.1-pct
Apr 17, 2015 (LBO) – Sri Lanka’s stocks closed up, 0.13 per cent, mainly because of profit taking and the banking and apparel stocks trading actively, brokers said. The Colombo benchmark All Share Price Index closed 9.14 points higher at 7,086.41 up 0.13 per cent. The S&P SL20 closed 21.46 points higher at 4,012.56 up […]
Australia to transfer refugees from Nauru to Cambodia
Apr 17, 2015 (LBO) – A charter flight will carry the first group of asylum seekers from Nauru to Cambodia next Monday, under an agreement entered into between Australia and Cambodia, Media reports said.Whether Sri Lankans are among the first group of refugees who will be transferred from Nauru to Cambodia is not known yet, […]
Sri Lanka’s open air zoo opens doors to public; entrance free from today to 01 May
Apr 17, 2015 (LBO) – Sri Lanka’s public will be given the opportunity of visiting its first open air zoo, adjoining the Elephant Orphanage in Pinnawala free of charge from today until the 01st of next month, a government media report said. “The public will be given the opportunity of visiting this zoo free of […]
South Asia, fastest growing region; will grow at 7-pct in 2015: World Bank
Apr 17, 2015 (LBO) – South Asia is expected to grow at 7 percent in 2015, picking up pace to 7.6 percent by 2017 as more productive capital is brought on stream, a World Bank report said. “South Asia is set to become the fastest growing region with the region expected to grow at 7 […]
‘s group concerned over Chinese funded port city project
Apr 17, 2015 (LBO) – Sri Lanka’s citizen’s group, Friday Forum has expressed concern about a recent controversial Chinese funded project and said full disclosure is needed on the 1.4 billion project. “The Friday Forum calls upon the government to immediately place in the public domain the details of all agreements, assessments and regulatory determinations […]
Sri Lanka advised to attract FDI, in order to maintain high growth rate: World Bank
Apr 17, 2015 (LBO) – Sri Lanka is advised to attract more foreign investments to keep up with its high growth rate due to the Island’s limitation on public and private national savings compared to national investment, a newly released World Bank report said.“With limited public and private national savings compared to national investment, Sri […]
Visa On Arrival? Not really
Apr 16, 2015 (LBO) – There is much enthusiasm about the “visa on arrival” facility India has offered to the Sri Lankan traveler.“Visa-on-arrival” usually means you show a blank page of your passport to the Immigration officer to stamp the visa, but this will not be the case for Sri Lankans arriving on Indian shores […]
Sri Lanka’s NDB and DFCC merger not to be forced; it’s a shareholder decision: Dinesh Weerakkody
Apr 16, 2015 (LBO) – Sri Lanka’s National Development Bank (NDB) and DFCC Bank merger should not be forced, Dinesh Weerakkody, Chairman of a Committee investigating banking sector consolidation told LBO.“We were very clear about the NDB – DFCC merger in our report that was handed to the Prime Minister.This should be decided by the […]
SriLankan Airlines increases flight frequency to Chennai
Apr 16, 2015 (LBO) – SriLankan Airlines has increased its flight frequency to Chennai from today by adding a fourth flight from Colombo to the Southern Indian city, the carrier said in a statement. “The new service will be operational from today (16).” Commenting on the occasion, Saminda Perera, General Manager Sales Worldwide said in […]