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IMF cuts global growth forecast further to 3.3-pct in 2019
Apr 10, 2019 (LBO) – Reflecting the slowdown in production activity in the latter half of 2018 and the first half of 2019, global growth is set to moderate from 3.6 percent in 2018 to 3.3 percent in 2019, and then to return to 3.6 percent in 2020, the IMF said releasing its World Economic […]
Sri Lanka’s first 100MW floating solar power plant before November
Apr 09, 2019 (LBO) – Sri Lanka’s Power Ministry and the Canadian Commercial Corporation, the Crown Corporation of the government of Canada on Tuesday signed a memorandum of cooperation for the joint development of a floating solar photovoltaic power project to be located on the Maduru Oya reservoir. Construction work of Sri Lanka’s first floating […]
RMIT starts joint Ph.D programme with Peradeniya and Moratuwa Universities
The Royal Melbourne Institute of Technology University (RMIT University) in Melbourne and University of Peradeniya, Sri Lanka entered into a Memorandum of Understanding for a joint Doctoral Degree (Ph.D.) programme between the two Universities for Engineering students. After several rounds of successful negotiations between the two institutions that lasted over 2 years, the MoU and […]
Opinion: Ways for Sri Lanka to fix its healthcare
By Deepika Attygalle Today on World Health Day, we can say with confidence that Sri Lanka’s healthcare system has delivered on many of its promises. This year’s focus on universal health care is a timely reminder that Sri Lanka is still reaping the benefits of far-thinking health policies implemented as early as the 1800s. Many of […]
CB introduces real time notifications for transactions in Govt securities via SMS, Email
Apr 08, 2019 (LBO) – Sri Lanka’s Central Bank which operates and maintains the LankaSecure system has introduced an SMS, Email alert service from 25th March 2019 to enhance the awareness of investors in the government securities.The SMS, Email alert is a service that sends real-time notifications to investors in government securities for each and every movement […]
Policy rates could be reduced in future if current trends continue: Central Bank
Apr 08, 2019 (LBO) – Monetary Board of the Central Bank today said that they are of the view that, if the current trends in global financial markets, trade balance, and credit growth continue, policy interest rates could be reduced in the period ahead, given well-anchored inflation and inflation expectations. Projections, as well as inflation expectations, […]
Sri Lanka Central Bank maintains policy interest rates at current levels
Apr 08, 2019 (LBO) – Monetary Board of Sri Lanka’s Central Bank at its meeting held today decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 8.00 percent and 9.00 percent, respectively. “The Board […]
EU DELEG issues joint statement reiterating SL to maintain moratorium on death penalty
Apr 08, 2019 (LBO) – The Delegation of the European Union (EU) today issued a joint statement reiterating Sri Lankan government to maintain its moratorium on the death penalty in line with its vote at the 73rd United Nations General Assembly in December 2018. The joint statement has been issued in agreement with the Embassies of France, Germany, […]
DFCC priced rights issue at a 56-pct discount to NAV to attract shareholders: CEO
Apr 08, 2019 (LBO) – Chief Executive Officer of Sri Lanka’s DFCC bank says that they wanted to make the rights issue attractive to shareholders by providing a discount of 56 percent to the net asset value per share. The bank is to issue up to 106,039,075 ordinary shares to the existing shareholders in the […]
Capital TRUST acquires Taxiyak and launches Taxiya
Apr 08, 2019 (LBO) – Capital TRUST Mobility Solutions (Pvt) Ltd, a subsidiary of Capital TRUST Holdings Limited is launching Taxiya, a mobile taxi hailing service. Focusing on safety, reliability, customer convenience and enhanced benefits to the drivers, Taxiya is set to zoom into the future of Sri Lanka’s organized Taxi service industry. Taxiyak was […]
Reuters replies to Planters Association and stands by allegations
Apr 09, 2019 (LBO) – The Thomson Reuters Foundation has responded to The Planters’ Association of Ceylon (PA) statement published on www.lankabusinessonline.lk on 2nd April which claimed that the Reuters article titled ‘Tea Label Giants Vow Probe after Sri Lanka Labour expose’ on tea estates were false. Kieran Guilbart, the Thomson Reuters Foundation commissioning editor, has countered each point […]
Sri Lanka official reserves improve to USD 7.6 billion by end March
Apr 05, 2019 (LBO) – Sri Lanka’s gross official reserves were 7,621.9 million US dollars by the end of March, up from 6,035.16 million US dollars in February this year, latest Central Bank data showed.By the end of March, foreign currency reserves were 6,728.6 million dollars while the reserve position in the IMF was 66.4 […]