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IMF approves extension & USD164mn disbursement; grants waivers to Sri Lanka for performance criteria
May 14, 2019 (LBO) – The Executive Board of the International Monetary Fund has completed the fifth review of Sri Lanka’s economic performance under the program supported by an extended arrangement under the Extended Fund Facility (EFF). Completion of this review, upon the granting of waivers of nonobservance for the end‑December 2018 performance criteria on […]
Ruwan Wijewardene appointed acting Defence Minister as President travels to China
May 13, 2019 (LBO) – Sri Lanka’s State Minister of Defence Ruwan Wijewardene has been appointed as the acting Defence Minister in coordination with President Maithripala Sirisena’s trip to China. With the exception of a short 50 day period during Sri Lanka’s recent constitutional crisis, Wijewardene has been the State Minister of Defence continuously since […]
US-China trade tensions: Fitch says further tariff escalation would hamper global growth
May 13, 2019 (LBO) – The US decision to increase tariffs to 25 percent on an additional 200 billion dollars of imports from China marks a significant escalation in US-China trade tensions, and highlights the risk of a protracted trade war beyond our current assumptions, the Fitch Ratings said. The rating agency, however, said the […]
Justice Minister rejects claims that US diplomat interfered with Sri Lankan Judiciary
May 13, 2019 (LBO) – Sri Lanka’s Justice Minister Thalatha Athukorale yesterday condemned the allegations made by Udaya Gammanpila in Parliament that a Legal Consultant attached to the Department of Justice in the American Embassy has interfered with the affairs of local judiciary during a workshop held in the United States. Athukorale says these workshops […]
Sanken promotes property market at Singapore International Expo
May 13, 2019 (LBO) – Capitol TwinPeaks, a venture of Sanken Group, showcased their project at the SMART Investment and International Property Expo in Singapore., recently. The Sanken Group was present at the event representing not only Capitol TwinPeaks, but Sri Lanka’s real estate industry overall, in order to attract further investors, aiding in increased […]
First Session of political consultations between Sri Lanka and Turkey concludes in Colombo
May 13, 2019 (LBO) – The first session of political consultations between Sri Lanka and Turkey with a new road map for enhanced cooperation in prioritized sectors between the two nations was concluded recently. In order to further consolidate this engagement, a bilateral legal framework will be formalized to generate mutually beneficial outcomes in the […]
‘s pay tops $ 18mn
May 12, 2019 (LBO) – Shemara Wikramanayake, CEO of global investment bank Macquarie, earned over $18mn in the last fiscal year. Her total annual renumeration makes her one of the highest paid executives in Australia. The disclosure of her compensation came out as the company she leads reported earnings of $3bn for the year. https://www.afr.com/business/banking-and-finance/the-eight-macquarie-bosses-paid-more-than-27-000-a-day-20190503-p51jue […]
Five key policy lessons from the terror attacks in Sri Lanka
By: Ganeshan Wignaraja Over 250 people died in last month’s IS-linked Easter bombings in Sri Lanka, making it one of the worst terror attacks since 9/11. Major incidents such as this cause extreme disruption in fragile countries like Sri Lanka, which is already grappling with the legacies of a thirty-year civil conflict, a simmering debt crisis, […]
Nirj Deva seeking a 5th term in the European Parliament
May 11, 2019 (LBO) – Niranjan Deva Aditya, more commonly known as the Hon. Nirj Deva, is seeking a fifth term in the European Parliament elections scheduled for May 23rd. The British elected European Parliamentarian of Sri Lankan descent is one of the longest serving European Parliamentarians.He has served in the legislative body for 20 […]
Foreigners flee Sri Lankan bonds with Rs11bn outflows this week
May 10, 2019 (LBO) – Foreign institutional selling of Sri Lanka’s government bonds picked up pace in the past week with approximately Rs11bn (US$60mn) of net outflows. Total foreign investor holdings of Sri Lankan government bonds has now reached multiyear lows, with total foreign holdings at just over US0mn.The fallout from the Easter Sunday terror […]
Softlogic Restaurants ranked among Asia’s Best Workplaces in 2019
Softlogic Restaurants Pvt Ltd., part of the Softlogic group of companies, and the Master Franchisee in Sri Lanka for global brands Burger King, Baskin-Robbins and Délifrance, has been ranked among the Best Workplaces in Asia 2019 in the Small & Medium Category by Great Place to Work®, in a major endorsement of the Company’s human […]
‘s National tea sales average down in April 2019
May 09, 2019 (LBO) – Sri Lanka’s tea sales for the month of April 2019 showed a decrease when compared with the same period last year, a new report shows. “National average for the month of April 2019 totalled 578.23 rupees vis-à-vis 585.92 rupees of March 2019 showing a marginal decrease of 07.69 rupees month on […]