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SriLankan hosts ‘Rumble in Jungle’ mountain biking race 2017
SriLankan Airlines successfully conducted ‘Rumble in the Jungle’ the premier mountain biking event that attracts local and international cycling pros and enthusiasts recently . Conducted for the fourth consecutive year, ‘Rumble in the Jungle’ is a grueling yet thrilling race that enables local and international participants to experience the diverse beauty of the island. On […]
Religious violence in Sri Lanka has chronic nature: Verité
June 21, 2017 (LBO) – Religious violence in Sri Lanka is not a post-war phenomenon and has persisted over a much longer period of time, Verité Research said in a report. The think tank studied a dataset between 1994 and 2014 compiled by the National Christian Evangelical Association of Sri Lanka (NCEASL). The data showed […]
Fitch expects more interest rate pressure for Sri Lankan corporates
June 20, 2017 (LBO) – Fitch Ratings says it expects rising domestic interest rates to hurt Sri Lankan corporates over the next 12 months. Releasing a statement, the rating agency said borrowing costs of corporates have increased more than 200bp in the 12 months to March 2017. The Central Bank increased policy rates by 125bp […]
Auditor General’s opinion creates chaos in Parliament
June 20, 2017 (LBO) – Sri Lanka’s Parliament on Tuesday referred the controversial annual report of the Finance Ministry to the Committee on Public Finance amid chaos in Parliament. The Auditor General, expressing his view on the finance ministry accounts of 2016, said that he is not been able to obtain sufficient and appropriate audit […]
Unilever offers hands-on learning to Moratuwa engineering undergraduates
Unilever Sri Lanka, the nation’s number one employer of choice, recently marked the completion of its inaugural LEaD (Learn, Explore, Develop) training program at their head office. The event saw 18 second year engineering undergraduate students from the University of Moratuwa graduate from the 7 month program which was launched in October 2016. Unilever embarked […]
Sri Lanka Parliamentarians attend exchange programme in Washington
The House Democracy Partnership (HDP) of the United States Congress welcomed members of parliament of four HDP partner countries, including Sri Lanka to an exchange programme in the second week of June. A bipartisan group of members of Sri Lankan Parliament comprising State Minister of Agriculture Wasantha Aluwihare, Deputy Minister of Mahaweli Development and Environment […]
‘s Waste Management Authority
June 20, 2017 (LBO) – Fairway Waste Management (Pvt) Ltd and the Waste Management Authority of the Western Provincial Council have signed a concession agreement to form a public-private partnership for Municipal Solid Waste processing at Karadiyana in the Western Province. The 22-year concession agreement is a key legal document that would create a sustainable […]
Infrastructure must be developed alongside admin, legal frameworks: Finance Minister
June 20, 2017 (LBO) – Sri Lanka wants to boost investments to make the country an export driven economic and financial hub of the Indian Ocean, the new finance minister said. “Developing physical infrastructure must be done along with administrative and legal frameworks to ensure required policy or regulatory support to streamline and boost public […]
‘s Central Bank eyes full inflation targeting: Governor
June 20, 2017 (LBO) – Sri Lanka is planning to adopt a full inflation targeting framework probably by next year, Central Bank Governor Indrajit Coomaraswamy said. Delivering the keynote address at the launch of the Oxford Business Group’s 2017 report on Sri Lanka Monday, Coomaraswamy said this step will enhance greater transparency and predictability for […]
Central Bank clarifies its position on wilfull defacement of currency notes
Press Release: The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to misinterpretation of the facts contained in the newspaper advertisements published by the CBSL in implementation of its Clean Note Policy. The Clean Note Policy has been introduced by the CBSL aiming at maintaining the quality standards of the currency […]
Opinion: India ruling party’s choice as Presidential candidate is a masterstroke
By P.K. Balachandran The choice of Ram Nath Kovind as the ruling Bharatiya Janata Party’s candidate for the Indian Presidential election, to be held on July 17, is a political masterstroke by its political managers. Kovind is a “Dalit”. The Dalits are the lowest caste in the Hindu social hierarchy who were once dubbed and […]
Oxford Business Group launches new publication on Sri Lanka economy
Sri Lanka’s plans to capitalise on high levels of investor confidence and a $1.5bn deal with the IMF to implement a much‐needed modernisation drive and structural reforms are mapped out in a new report just produced by the global research and consultancy firm Oxford Business Group (OBG). The Report: Sri Lanka 2017 charts the island […]