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‘s bonds while dumping stocks
February 16, 2019 (LBO) – Foreign institutional investors continued buying Sri Lanka’s government bonds this week, continuing a one month trend where they have been net buyers of over US$100mn worth of bonds in total. Last week, foreign investors bought a net of close to Rs3.5bn (US$20mn) worth of Sri Lanka’s bonds, turning net inflow […]
Foreign Ministry’s second Regional Consular Office declared open in Matara
The Matara Regional Consular Office of the Foreign Ministry was declared open today (15) jointly by Minister of Foreign Affairs Tilak Marapana and Minister of Finance and Mass Media Mangala Samaraweera. Several members of the Southern Provincial Council, members of local government bodies of the Matara District and senior government officials including the District Secretary […]
Sampath Bank records PBT of Rs18.3Bn for 2018
Feb 15, 2019 (LBO) – Sampath Bank recorded a profit before tax (PBT) of 18.3 billion rupees for the year ended 31st December 2018, up by 10.5 percent from a year earlier. Profit after tax (PAT) too registered a marginal growth of 0.3% from Rs 12.10 Bn in 2017 to Rs 12.14 Bn in 2018. […]
Opinion: The PM should aggressively defend independence of the Constitutional Council
February 15, 2019 (LBO) – The past few days have seen pointed verbal attacks on the Sri Lanka’s Constitutional Council. First by Wijedasa Rajapakse, and second by Parliament’s Opposition Leader Mahinda Rajapaksa. The criticism by two high profile political leaders of the Constitutional Council comes at a juncture when the Council has shown itself to […]
Central Bank to impose withdrawal restrictions for deposits of The Finance Company
Feb 15, 2019 (LBO) – Sri Lanka’s Central Bank has proposed regulatory measures including suspension of accepting new deposits, restrictions on withdrawal of deposits and restricting disbursement of loans and advances to facilitate the restructuring process of The Finance Company (TFC). The Monetary Board at its recent meeting, having considered the weak financial performances of […]
US Coast Guard trains Sri Lankan Port officials to improve port security
Feb 15, 2019 (LBO) – The US Coast Guard (USCG) recently conducted a training program on security capacity building at the Port of Colombo with more than 25 Sri Lankan port officials. The event strengthened the port’s security capabilities through drills that improved agency coordination and the implementation of the port’s security plan. Sri Lanka’s improved […]
EU opposes death penalty; €2.2bn exports under GSP+ from June 2017 – May 2018
Feb 15, 2019 (LBO) – The European Union (EU) has reiterated its opposition to the use of the death penalty in all circumstances and encouraged Sri Lanka to maintain its moratorium on executions with a view to abolishing the death penalty. The EU and Sri Lanka held their 22nd meeting of the Joint Commission yesterday […]
MTD Walkers (KAPI) on the verge of collapse suffers another Rs1.5bn quarterly loss
February 15, 2019 (LBO) – Continuing its seemingly endless spiral into the inevitable abyss, CSE listed construction firm MTD Walkers (KAPI) reported a loss of approximately Rs1. 5bn for the quarter ended December 2018. Loss for the 9 months was well over Rs3bn after losses of over Rs2bn during the corresponding period in the prior […]
Sri Lanka growth at 3.5-pct in 2019 : Room to be better managed : World Bank
Feb 15, 2019 (LBO) – World Bank Vice President, South Asia Region, Hartwig Schafer says that he finds the island facing a challenging macroeconomic landscape and that the nations Gross Domestic Product could be managed in a more effective manner. “Although the people’s income levels are very high and you are about to reach upper […]
Sri Lanka Development Update: Navigating Sri Lanka’s demographic change
Feb 14, 2019 (LBO) – The latest edition of the World Bank’s Sri Lanka Development Update (SLDU) finds the island in a challenging macroeconomic landscape. The post-conflict high growth momentum has decelerated.A volatile global environment and structurally weak competitiveness continue to weaken growth and external sector performance. High interest costs mask limited fiscal improvement. The […]
‘s ink deal of USD145Mn for science and tech higher education
Feb 14, 2019 (LBO) – The Asian Development Bank (ADB) and four Sri Lankan universities signed project agreements totaling US 145 million dollars under the ADB funded Science and Technology Human Resources Development project to foster science and technology in Sri Lanka’s higher education. “To achieve higher incomes and better standards of living, the Sri Lankan […]
Sri Lanka Trade Min. launches digital platform for small, informal biz
Feb 14, 2019 (LBO) – Sri Lanka has began work on the first national digital data bank for its SMEs and entrepreneurs recently with the backing of a Singaporean firm. Under the new initiative the National Enterprise Development Agency (NEDA) will execute a nationwide centralised database of all SMEs and entrepreneurs thereby boosting the performance […]