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HNB rights issue will boost capital, credit positive: Moody’s
July 11, 2017 (LBO) – Hatton National Bank’s rights issue will boost their capital buffer well above the Basel III requirements that took effect in Sri Lanka on 1 July, which is credit positive, Moody’s said in a analysis. Last week, the bank received shareholder approval for a 15 billion rupees right issue and the […]
Govt to provide rice at concessionary rate: President
July 11, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena says the government will provide rice at a concessionary rate to the public by importing it from other countries, if the price goes up in the local market further. Paddy production in the island decreased due to the recent drought he said, while addressing a ceremony […]
Srilankan Airlines recruits 20 management trainees
July 11, 2017 (LBO) – State-run SriLankan Airlines has recruited 20 management trainees, following a one-year training programme, to absorb new blood into the organization, the company said in a statement. The company has taken six batches of management trainees in the past and the current intake was inducted in June 2016. The finance ministry […]
‘s education ministry
July 10, 2017 (LBO) – Food and Agricultural Organization of the United Nations (FAO) with the Ministry of Education kicked off a project where schools develop their own garden for child nutrition and life skills. “School gardens can be used as a classroom by reconnecting children with the outdoors and the source of their food,” said Nina Brandstrup, […]
Sri Lanka’s foreign debt USD25.6bn by April: Mid Year Fiscal Report
July 10, 2017 (LBO) – Sri Lanka’s total outstanding external debt was 25.61 billion US dollars (Rs3,886bn) by the end of April 2017, up from 23.1 billion dollars at the end of April last year, the Mid-year Fiscal Report revealed. Government’s total debt service payments for the first four months of this year amounted to […]
SriLankan Airlines, CEB, CPC record Rs30bn loss in first 4 months
July 10, 2017 (LBO) – State-owned carrier Sri Lankan Airline, main power supplier Ceylon Electricity Board and Ceylon Petroleum Corporation together have recorded a loss of 30 billion rupees in the first four months of this year, a treasury report showed. Sri Lankan Airlines The total loss of Sri Lankan Airlines increased by 55 percent […]
‘s first TIER III Certified Data Centre and Media Hub
(Press Release) – Dialog Axiata Group announced last Friday, the commissioning of Sri Lanka’s first Tier III certified data Centre and media bub. Dialog, Sri Lanka’s premier connectivity provider and a leader in the provision of world class enterprise solutions was recently awarded a TIER III Constructed Facility Certification (TCCF) from the UPTIME Institute for […]
India will move on ETCA at a pace set by Lanka: envoy
By P.K. Balachandran Assuaging fears that India is set to “impose” an Economic and Technical Cooperation Agreement (ETCA) on Sri Lanka, the Indian High Commissioner in Sri Lanka, Taranjit Singh Sandhu, has said that India is ready to move on the ETCA at a pace Sri Lanka is comfortable with. “The proposed Economic and Technical […]
Sri Lanka foreign reserves up 3-pct in June
July 07, 2017 (LBO) – Sri Lanka’s official foreign reserves climbed three percent (USD193.9mn) to 6.9 billion dollars in June, official Central Bank data showed. Foreign currency reserves were 5.99 billion dollars and reserves in gold were 0.89 billion dollars. Central Bank’s Treasury bill holdings were down from 214. 35 billion rupees in May to […]
Mannar identified for major tourism development: Ministry
The Ministry of Tourism Development has identified Mannar District for major tourism infrastructure development projects. Already over Rs. 40 million has been spent on making the beach areas tourist friendly and many other projects are being planned in order to make the district the main hub for tourism in the region. During a discussion between […]
Death sentence for killer of journalist Mel Gunasekera
July 05, 2017 (LBO) – Sri Lanka passed the death sentence against the accused in the murder case of journalist Mel Gunasekera at the Colombo High Court on Wednesday. Rs. 17.5 Billion) was signed on 7th of July 2017 between the Government of Sri Lanka and Japan International Cooperation Agency (JICA) for rehabilitation of essential […]
Sri Lanka launches hotline for garbage collection in Colombo
July 05, 2017 – Sri Lanka’s Provincial Councils and Local Government Ministry has launched a hotline for people to make complaints about garbage collection in the Colombo Municipal area. The ministry has set up a special unit called the “National Task Force for Management of Waste” which will be manned by the tri-forces and an […]