Category: Economy and Markets

stocks-up-lbo

Sri Lanka stocks close higher 0.06-pct, Telco gains

Oct 12, 2015 (LBO) – Sri Lankan stocks closed higher on Monday with gains in the telecom sector stocks as lack of policy direction made the market volatile, brokers said. The Colombo benchmark All Share Price Index closed higher 3.94 points at 7,100.00, up 0.06 percent. S&P SL20 closed 1.04 points lower at 3,818.76 lower 0.03 […]

Ravi-Karunanayake-1

Sri Lanka has full support of WB, IMF says Finance Minister

Oct 12, 2015 (LBO) – Sri Lanka has the full support of the World Bank and the International Monetary Fund, Finance Minister Ravi Karunanayake said after attending Annual Meetings of the two institutions in Lima, Peru. “I must reiterate that we are not subject to any conditions imposed by the World Bank and the IMF. […]

students

Japan provides food aid worth Rs. 275Mn to Sri Lanka’s North  

Oct 10, 2015 (LBO) – Sri Lanka will receive food grant assistance worth 275 million rupees from Japan through the World Food Program (WFP), a statement said.The aid will support ongoing emergency program in Sri Lanka including the School Meals Program.Under this programme , Japan will provide canned fish manufactured in the areas devastated by the Japan […]

Central Bank of Sri Lanka Logo

Mid-year staff transfers, a routine matter: Central Bank

Oct 09, 2015 (LBO) – Sri Lanka’s Central Bank on Friday said their mid-year staff transfers are a routine matter and provides an employee to experience varied areas of central banking activities. Releasing a statement the bank stated that the practice has taken place annually for several years.“A work transfer is a way to help […]

pension

Sri Lanka needs a common framework for pensions: economists

Oct 09, 2015 (LBO) – All elderly in Sri Lanka should have access to at least one reliable, affordable and adequate pension, economists said. “An adequate pension is essential to ensure income security for elderly, without being dependent,” Nisha Arunatilake of Institute of Policy Studies of Sri Lanka said. She was speaking at the National […]

Sathosa

Sri Lanka to revive Sathosa with help from Singapore

Oct 09, 2015 (LBO) – Sri Lanka’s state owned retail chain Lanka Sathosa aims to get support to revive from Singapore as the retail chain is making continues losses, ministry of industry and commerce said in a release. Lanka Sathosa owned more than 310 outlets around the island. “We are restructuring LAKSATHOSA and are still […]

Ranil-Wickramasinghe-new

Not satisfied with past performance of Central Bank: PM

Oct 08, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe told Parliament Thursday that he is not satisfied with the past procedures and performance of the Central Bank.Bringing a motion, Parliamentarian Dinesh Gunawardena charged that over 200 officials from Central Bank have been transferred from their positions after the 2015 general elections. Wickremesinghe, however, said […]

euro

Sri Lanka to get Euro 43.7mn grant, technical assistance from EU

Oct 07, 2015 (LBO) – Sri Lanka will be getting 43.7 million euro as grant and technical assistant from the European Union, government told reporters Thursday.The European Union has agreed to provide grant assistant of 30 million of euros to finance in support of the integrated rural development programme in Central and Uva provinces, which […]

lbo stocks

Sri Lanka stocks close flat, Net foreign out flow

Oct 08, 2015 (LBO) – Sri Lankan stocks closed flat on Thursday with low investor interest due to lack of policy directions, brokers said. The Colombo benchmark All Share Price Index closed flat at 7,085.65. S&P SL20 closed 3.09 points lower at 3,818.60 lower 0.08 percent. Turnover was 850 million rupees, up from 636 million […]

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