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Deshal explains what is wrong with Sri Lankan economy
Aug 01, 2016 (LBO) – Sri Lanka’s most urgent economic risk is external debt sustainability and it has been one driving factor behind macroeconomic volatility in the country, a young economist said. Deshal de Mel delivering a public lecture hosted by the think tank Advocata Institute said the legacy of access to long term concessional […]
Opinion: MRT vs LRT shows lack of Vision by Sri Lanka’s Urban Planners
By Lancelot Reports on Lanka Business Online indicate that Sri Lanka has decided to choose Light Rail Transit over a Monorail system, and that Japan has confirmed the funding. To a person with some vision, this seems like a choice between dumb and dumber. The world is moving in a different direction. Car sharing, ride […]
‘s economic reforms
Aug 01, 2016 (LBO) – The World Bank Board has approved a 100 million dollar credit from the International Development Association (IDA) to support the Government of Sri Lanka’s economic reform program. “Sri Lanka has been making steady progress on economic reforms, with the government aiming to create one million new jobs through a reform […]
Mobitel explores acquisition of Etisalat: report
Aug 01, 2016 (LBO) – Sri Lanka’s Mobitel intends to explore acquisition of Etisalat, after the Cabinet Committee on Economic Matters said it could carry out a due diligence prior to negotiations between the mobile companies, a media report said. A Committee is already looking into the proposed acquisition of Hutch, the fourth mobile phone […]
Asian shares edge up as soft U.S. GDP cuts Fed rate hike bets
TOKYO, Aug 1 (Reuters) – Asian shares ticked up slightly on Monday after disappointing U.S. economic growth data reduced expectations of a rate hike by the U.S. Federal Reserve in the next few months. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent in early trade, staying near its one-year high hit last […]
‘s Merchant property sale for amalgamation
July 29, 2016 (LBO) – Sri Lanka’s People’s Leasing and Finance says it will amalgamate with People’s Merchant Finance within this financial year subject to two conditions, the company said. In a stock exchange filing, People’s Leasing and Finance said the first condition is the sale of People’s Merchant Finance property located at Nawam Mawatha, […]
Sri Lanka’s CCPI inflation down 0.5-pct points in July 2016
July 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 5.5 percent in July 2016 from a year earlier, down from 6.0 percent in June with the inflation index gaining 0.2 percent in the month, the state statistics office said. Year on year inflation of Food Group has decreased from 8.2 […]
Anura Kumara’s brush-strokes at brotherhood day
The JVP, civil organizations and artists yesterday remembered Black July at the Viharamahadevi Park. At the event JVP leaders started painting a large drawing with different colors with the theme “One country, multi colors.
Sri Lanka could better harness bio-gas: Waste Management Authority
Jul 29, 2016 (LBO) – Bio-gas can be used in Sri Lanka as a cheaper and cleaner renewable energy alternative to petroleum-based fuels, a senior official said. “Using domestic waste management and converting it into bio gas could be a boon to the developing island’s rising demand for energy,” said Nalin Mannapperuma, director, Waste Management […]
Guardian Acuity launches Sri Lanka’s first dual return investment plan
“Alpha plus”, Sri Lanka’s first dual return investment plan is now available to investors as a result of a partnership between Alliance Finance PLC and Guardian Acuity Asset Management (GAAM), a leading Unit Trust Management Company which is part of Carson Cumberbatch PLC, HNB and DFCC banks. “Alpha Plus is a dual return investment plan, […]
EBL Introduces Hybrid Electric Vehicle (HEV) Battery Revitalizing Technology in Sri Lanka
(PRESS RELEASE) – Edirisinghe Brothers (Pvt) Ltd., (EBL) announced the opening of Hybrid Hub; a purpose-built facility for the testing, conditioning and rebuilding of batteries for Hybrid Electric Vehicles (HEV) – the only such facility in Sri Lanka. Mr. Sanka Edirisinghe Co-Chief Operating Officer, Hybrid Hub, alluded to the changes in Sri Lankan vehicle owners’ […]
Sri Lanka foreign reserves USD6.4 bln in July: CB official
July 29, 2016 (LBO) – Sri Lanka’s official reserves were 6.4 billion US dollars at the end of July, up from 5.27 billion US dollars at the end of June, a central bank official said on Friday. Reserves were boosted by a dual-tranche sovereign bond offering this month of 500 million dollars through 5.5-year sovereign […]