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Opening of a counter to issue coins to general public
Mar 26, 2019 (LBO) – The Central Bank of Sri Lanka will open a counter at the ground floor of the Central Bank head office building, No.30, Janadhipathi Mawatha, Colombo 01 on 27 March 2019, to issue coins to the general public. This counter will be opened for the public from 9.00 a.m. to 11.00 […]
‘s Hambantota
Mar 25, 2019 (LBO) – Inaugurating the construction work of the US 3.85 billion dollar oil refinery project and the cement manufacturing plant in Hambantota, Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts. “These two projects are two mega investment projects that could be considered […]
Ceylon Chamber of Commerce celebrating 180 years serving the business community
Mar 25, 2019 (LBO) – The Ceylon Chamber of Commerce (CCC) was founded on 25 March 1893, for the purpose of best promoting the interests of commerce. This was among the very first group of chambers established in Asia.The Chamber has grown from having 26 memberships at its initial stages, to just over 600 today […]
Australia and Sri Lanka deepen cooperation on Indian Ocean maritime security
Mar 25, 2019 (LBO) – Australia and Sri Lanka’s cooperation on shared maritime security interests in the Indian Ocean is set to rise to a new level with Indo Pacific Endeavour 2019 (IPE19), which will see the visit to Sri Lanka of an Australian Joint Task Group comprised of Navy, Army and Air Force assets. Acting […]
Mr. Bean Saves Democracy!
March 24, 2019 (LBO) – Sri Lanka’s Prime Minister, Hon.Ranil Wickremesinghe, turns 70 years old today.The PM, one of the most prominent figures in Sri Lankan political history, turns age 70 at the apex of his political career.He reaches this important milestone just months away from an election that will determine if he will lead […]
‘s capital markets stabilising
March 23, 2019 (LBO) – Foreign flows into and out of Sri Lanka’s capital markets appear to be stabilising after a period of significant outflows. The stabilisation of flows has also resulted in stabilisation of Sri Lanka’s currency (LKR). The LKR has been trading close to Rs178/US$ for the last few weeks, up from an […]
BOI clarifies news report regarding oil refinery project in Hambantota
Mar 22, 2019 (LBO) – Issuing a statement the Board of Investment of Sri Lanka said they are aware that there is no agreement signed between Oman’s Ministry of Oil and Gas and Silver Park International PTE Ltd with regard to equity arrangements for the oil refinery project in Hambantota.“However, we are aware that Oman Oil […]
Sri Lanka to discuss draft national policy on LNG
Mar 22, 2019 (LBO) – The Ministry of Highways and Road Development together with Petroleum Resources Development has developed the draft national policy on natural gas with a view to establish and develop the natural gas industry in Sri Lanka. With the view of further improvement and development of the policy, the Public Utilities Commission […]
Commercial Bank wins 19th global finance ‘Best Bank in Sri Lanka’ award
(PRESS RELEASE) The Commercial Bank of Ceylon has been adjudged Sri Lanka’s Best Bank in 2019 by the USA-based Global Finance magazine, giving the Bank its 19th such accolade from this entity alone. Global Finance’s just released list of ‘Best Banks in Asia Pacific 2019’ names Commercial Bank in a pantheon of banking giants of […]
‘s EXIM Bank for Central Expressway
Mar 22, 2019 (LBO) – The Export- Import Bank of China (EXIM Bank) has agreed to provide a concessional loan amounting to US 989 million dollars covering 85 percent of the contract price, for the Central Expressway Project – Section 1 from Kadawatha to Meerigama. The loan is the single largest loan approved by the […]
‘s criticisms of $ 2.4bn bond offering undermine CBSL
March 22, 2019 (LBO) – Former Governor of the Central Bank of Sri Lanka (CBSL) during the Mahinda Rajapaksa administration, Ajith Nivard Cabraal, has come out with criticisms of the pricing and interest rates on debt that came out of the recent sovereign bond offering. His contention that somehow the interest rates were abnormally high […]
Sri Lankan Banks manage capital impact of SLFRS 9
Mar 22, 2019 (LBO) – Sri Lankan banks have been able to manage the capital impact of first-time adoption of SLFRS 9 accounting standards, in line with our expectations, due to capital infusions ahead of full implementation of Basel III, satisfactory profitability buffers and the four-year phasing-in period, Fitch Ratings says. Sri Lanka adopted SLFRS 9 […]