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‘s maiden international championship
EZY Racing, the first ever Sri Lankan based motor racing team to compete internationally in a FIA accredited Championship were given their very first International Championship in just their second year in International Motor Sports, when their driving prodigy Mike Young secured the FIA Production Cup for 2015 for the Cusco EZY Racing Subaru Team […]
Infrastructure: People should be consulted in future projects, says Min Ranawaka
Nov 02, 2015 (LBO) – Sri Lanka’s future infrastructure development projects should be done in consultation with the people, a Minister said.“We have identified some of the previous mistakes that were done with regard to infrastructure development during the previous regime,” Champika Ranawaka, Minister, Megapolis and Western Province development said. “The first one was that […]
Finance Minister wants lower interest rates, IMF show of support
Nov 02, 2015 (LBO) – Sri Lanka’s Finance Minister has called for lower interest rates in the island and for the IMF to support the island’s development programme.Ravi Karunanayake said an IMF growth forecast of 5-5.5 percent for this year was too low, a media report from London said. He wants the Central Bank to […]
Interview: Three cases reopened, investigation division to expand in Nov, says SEC Chairman
Nov 02, 2015 (LBO) – The Securities and Exchange Commission of Sri Lanka has reopened three cases as part of probes that will be carried out by an expanded investigations and enforcement division, the SEC Chairman said.An SEC reorganization will be completed in November, and an upgraded surveillance system will be in place next year, […]
Infrastructure: Asian and Pacific cities need inclusive, sustainable future, says report
Oct 31, 2015 (LBO) – Asian and Pacific cities are facing growing gaps between urbanisation patterns and what is needed for an inclusive and sustainable future, a report by UN Habitat and UN ESCAP said. The State of Asian and Pacific Cities 2015 report covers 58 countries in the region including China, India, Australia and […]
Norwegian sovereign fund invests in Sri Lanka equities
Oct 31, 2015 (LBO) – Norway’s central bank, which manages the world’s biggest sovereign wealth fund, has started buying shares in Colombo listed companies.Norges Bank has bought 7.5 million shares in knit fabric maker Textured Jersey Lanka, a media report said.The fund started investing in Textured Jersey around September.Norges Bank Investment Management has close to […]
PTL Watch: Thin activity, foreign holding increases in bonds
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Sri Lanka’s deflation turns to 1.7-pct inflation in October
Oct 30, 2015 (LBO) – Sri Lanka has recorded 1.7 percent inflation in October measured by Colombo Consumer Price Index after three consecutive months of deflation. The inflation year on year rose from negative 0.3 percent in September, mainly due to the lower base effect. The statistics department said this is due to the elimination […]
Sri Lanka sells Rs10.36bn in 04 and 14 year bonds
Oct 30, 2015 (LBO) – The issue of treasury bonds amounting to 9 billion rupees have been oversubscribed with 72 billion rupees of bids received from investors.The Central Bank has accepted 3.7 billion rupees of 04 year, 06 month bonds maturing on 01 May 2020 at a weighted average yield rate of 8.99 percent. The […]
Majoritarianism, very centre of post-independence failure: FM Mangala
Speech by Foreign Minister Mangala Samaraweera at the Commemoration of the 25th Anniversary of the Expulsion of Muslims from the Northern Province. I would like to thank the Sri Lanka Muslim Congress for organizing this commemoration of the 25th Anniversary of the Expulsion of Muslims from the North. At this historic juncture, when Sri Lanka is grappling […]
MR with Lawyers at BMICH
Former President Mahinda Rajapaksa on Thursday appeared before the Presidential Commission of Inquiry to Investigate and Inquire into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC) with regard to the alleged non-payment of bills to state owned ITN.
Sri Lanka’s John Keells Hotels profits flat in September quarter
Oct 30, 2015 (LBO) – Sri Lankan hotel operator, John Keells Hotels Plc’s profits increased by only 2 percent to 350 million rupees in the September quarter 2015 despite a tourism boom in the Island, interim accounts showed. Earnings per share was flat at 24 cents per share for the quarter. The company’s revenue also increased […]