Category: Economy and Markets
‘s CB governor says “I was not in the dealing room.”,rejects COPE allegations
July 7, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that he never entered the tender board room where bids were assessed but gave instructions to accept bids of 10 billion rupees or more being in the corridor outside the Public Debt Department. He said while replying a reporter on the controversial […]
Sri Lanka’s Plantation association says adequate replanting rates maintained for tea and rubber
July 7, 2015 (LBO) – Sri Lanka’s Regional Plantation Companies (RPCs) say that they have maintained adequate replanting rates in the tea and rubber estates and increased crop production despite having only 59 percent of the workers and 82 percent of the crop bearing extent compared with the time of privatization in 1992. “The ‘Indenture […]
Central Bank appoints a new member for monetary board
July 7, 2015 (LBO) – Sri Lanka’s President Sirisena has appointed Chrishantha Priyange Richard Perera as a Member of the Monetary Board of the Central Bank of Sri Lanka with effect from June 24, 2015 in terms of Section 8(2) (c) of the Monetary Law Act. Perera has previously served as Chairman of the Sri […]
Central bank confident growth will pick up in 2Q; more private investments after election
July 7, 2015 (LBO) – Sri Lanka’s Central Bank says that more private sector investments would flow in to the country after the general election helping the island achieve seven percent economic growth in 2015. The Island’s economic growth for the first quarter of 2015 slowed to 6.4 percent compared to 7.6 percent in the […]
Sri Lanka government foreign borrowings at Rs137bn; Rs316bn to borrow
July 06, 2015 (LBO) – Sri Lanka’s government has already borrowed 137 billion rupees and plans to borrow another 316 billion rupees before the end of this year, Dr.Harsha de Silva said. As per the revised budget approved by the Parliament this year, 258 billion rupees is to be raised through foreign borrowings and another […]
SriLankan Airlines, airberlin and NIKI codeshare mulls boost in tourism
July 6, 2015 (LBO) – SriLankan Airlines, airberlin the second largest airline in Germany and its subsidiary NIKI signed a new codeshare agreement recently, paving the way for increased tourism potential between Sri Lanka, Germany and Austria.“SriLankan Airlines is confident that our new codeshare with airberlin and NIKI will provide a much needed boost for […]
Ceylon Biscuits group chairman retires after 48 years of service
July 06, 2015 (LBO) – Sri Lanka’s biscuits manufacturing giant Ceylon Biscuits group said its Chairman Mineka P.Wickramasingha has been retired after 48 years at the helm of the organization he founded in 1968.At a recent Board meeting held on the 24 June 2015, the current Deputy Chairman, Ramya Wickramasingha was elected by the Board […]
“SRI LANKA – TECHNOLOGY DRIVES DISRUPTION: EMBRACE OR FACE EXTINCTION”| LBR LBO SUMMIT 2015
LBR LBO Annual Enterprise Summit 2015 will be held on 14th July at Oak Room, Cinnamon Grand with a total of 30 speakers both local and Intentional. This year’s Platinum and Title Sponsor is Leapset, while Singer Mega and Sampath Bank are Gold sponsors. Etisalat is the mobile enterprises solutions partner. At a media briefing […]
Huawei launches its flagship smartphone – P8
July 6, 2015 (LBO) – Chinese telecoms maker Huawei together with Singer Sri Lanka launched its newest addition to the smart phone segment “Huawei P8” in Colombo recently.“The Huawei P8 is inspired by the best of human design from different cultures across the centuries and embodies the human spirit of exploration and beauty,” Henry Liu, […]
Sri Lanka rupee may strengthen with foreign cash inflows for election: CB Governor
June 6, 2015 (LBO) – Sri Lanka’s rupee may strengthen supported by foreign inflows to finance an upcoming general election in September this year, Central Bank Governor Arjuna Mahendran told reporters recently.Mahendran said this in reply to a question raised by a journalist about the prediction made by Finance Minister Ravi Karunanayake on 23rd of […]
US reauthorized GSP, Duty Free Entry for 5000 products from 122 countries and territories
July 3, 2015 (LBO) – Sri Lanka’s Department of Commerce says that the US President has restored US Generalized System of Preferences (GSP) with effect from 29.06.2015 with retroactive respect including Sri Lanka.A statement said that the US President signed into law HR 1295 on June 29, 2015 re-authorizing the US GSP Programme until 31 […]
Sri Lanka’s President should ask the COPE report on CB Bond: Former COPE Chairman
July 3, 2015 (LBO) – Sri Lanka’s President Sirisena should read the COPE report on the much talked bond scam and take actions if necessary, former Chairman of the inquiry committee DEW Gunasekera said.“If President wants he can get a copy of this report from the secretary of the parliament and see whether there is […]