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Sri Lanka’s exports and imports declines in August 2015: Central Bank
Oct 22, 2015 (LBO) – Sri Lanka’s exports earnings recorded a decline of 19.5 per cent, year-on-year, to 799 million US dollars in August 2015, showing decreases in all major export categories, Central bank data showed. The lower earnings from tea, textiles and garments, transport equipment and rubber products mainly contributed to the overall decline […]
Youtube launches ad free uninterrupted version with paid content
Oct 22, 2015 (LBO) – World’s number one free video hosting site, Youtube has launched an ad free uninterrupted version of Youtube for a subscription fee of 9.99 US dollars a month. The new service that has been named as ‘YouTube Red’ will be available in the US for free with a one month trial […]
CEO Forum: Inter-ministerial task force to boost economy, says Harsha
Oct 22, 2015 (LBO) – Sri Lanka’s new government has formed an inter-ministerial task force to develop the economy by coordinating work of important ministries, the Deputy Foreign Minister Harsha de Silva said. Apart from the Foreign Affairs Ministry, the task force mainly works with the Development Strategies and International Trade Ministry and Industry and […]
CBSL accepts highest amount of bids in a T-bill auction in 5 months
Oct 21, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up with highest amount of bids in a Treasury bill auction in over five months at Wednesday’s auction, data from the state debt office showed. The 3-month yield was down 6.71 percent with bids amounting to 28.8 billion rupees being received and it was […]
Sri Lanka’s Finlays unit to delist
Oct 21, 2015 (LBO) – Sri Lanka’s Finlays, a tea exporter said it plans to delist its ordinary shares from the Colombo Stock Exchange, a statement said. “James Finlay of Swire House, London will302 rupees a share,” the company said in a stock exchange filing. The decision is subject to regulatory approval. The Company’s shares […]
Dialog, BOI in Rs24 bn investment to improve ICT infrastructure
Oct 21, 2015 (LBO) – Dialog Axiata Plc entered into an agreement with Board of Investment of Sri Lanka to invest 25.6 billion rupees or 175 million US dollars to improve the island’s ICT infrastructure, the company said in a filing to the Colombo Stock Exchange.The investment agreements span a broad scope of ICT infrastructure […]
Sri Lanka to tighten mandatory imprisonment for rapes and child abuses
Oct 21, 2015 (LBO) – Sri Lanka is to amend the penal code to tighten the mandatory imprisonment for the offenders of rapes and child abuses, Prison Reforms Minister Thilak Marapana said. According to government statistics 311 rape and 5,762 child abuse cases have been reported in the year 2014.Even though under the existing penal […]
Worker wages with revenue share is only solution: Plantation Companies
Oct 21, 2015 (LBO) – Sri Lanka Regional Plantation Companies (RPCs) have come up with a model for the pressing wage problem of plantation workers and recommend a revenue sharing model for remuneration, a statement said. “The revenue sharing model is now clearly the only viable, mutually beneficial and sustainable solution for the country’s plantation […]
PTL Watch: Volatility on short to mid term bond maturities
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Strengthening institutions, policy interaction needed: Saman Kelegama
Oct 21, 2015 (LBO) – Sri Lanka can achieve greater economic progress with a reforms agenda which strengthens interactions between institutions, policy processes, the head of the Institute of Policy Studies (IPS) said.“The agenda setting for reforms must begin with attempts to strengthen interactions between institutions, policy processes and policy outcomes,” Saman Kelegama, executive director […]
Sri Lanka’s Vallibel One to go ahead with USD60mn integrated resort project
Oct 21, 2015 (LBO) – The leisure investment arm of Vallibel One, Greener Water limited is to continue with its project to construct a 400-roomed luxury five star resort in Negombo in its 18 acres of freehold land.The company has entered into an agreement with the Board of Investment of Sri Lanka in relation to […]
Sri Lanka parliament approves borrowing increase, taxes
Oct 21, 2015 (LBO) – Sri Lanka’s parliament has approved raising the ceiling on treasury bill borrowing by 400 billion rupees to finance a higher budget deficit.The parliament also passed a series income, value added, nation building, gaming and broadcast taxes proposed in the last budget to raise government revenue by around 60 billion rupees.The […]