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Sri Lanka’s Hikkaduwa Beach Resort to borrow Rs480mn from Sampath Bank
July 17, 2015 (LBO) – Sri Lanka’s Hikkaduwa Beach Resort is to borrow 480 million rupees from Sampath Bank after mortgaging its land and building, the company said.The company will be calling for a shareholder meeting to seek necessary approval for the said borrowing and the mortgage of the property. “The entirety of the land […]
Sri Lanka to reduce fuel price if world oil prices drop: Ravi K
July 17, 2015 (LBO) – Sri Lanka’s government will consider a further reduction in the fuel price if oil prices in the world drop, the Finance Minister said. “If the world oil prices drop then we will also reduce the fuel prices in the country but the prices have not dropped yet,” Ravi Karunanayake, Finance […]
Effective public service and service delivery, crucial for competitiveness of economy: Think Tank
July 17, 2015 (LBO) – An efficient service delivery in the public service is crucial not only to achieve a competitive economy but also to meet the needs of poor and vulnerable sections of the society, a think tank said. “The efficiency of the public service, in terms of policy development and service delivery, is […]
Sri Lanka stocks close up 0.8-pct: Two week high
July 16, 2015 (LBO) – Sri Lanka’s stocks closed up 0.82 percent on Thursday, on two week high with telecom and banking sector stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 57.95 points higher at 7,124.14 up 0.82 percent. The S&P SL20 closed 33.50 points higher at 3,991.21 up 0.85 […]
Sri Lanka’s ministers to pay for govt vehicles and fuel if used for election campaign
July 16, 2015 (LBO) – Sri Lanka’s government asked Prime Minister, the Ministers, State Ministers, Deputy Ministers and the officials to pay a fee for using their official vehicles to promote their political party or candidature in upcoming general election.The decision was made at a meeting held between the Commissioner of Elections and the General […]
Sri Lanka gets Euro 53mn credit from Spain to construct flyovers
July 16, 2015 (LBO) – Sri Lanka’s government to construct four lane steel flyover in Rajagiriya- Colombo, and two lane flyovers in Ganemulla and Polgahawela to ease the traffic congestion in the Colombo city and suburbs with 53 million Euro credit from Spain, cabinet spokesman Rajitha Senaratne said. The credit from government of Spain which […]
Guaranteed price for green leaf extended till next month; Rs200mn for Tea Shakthi Fund
July 16, 2015 (LBO) – Sri Lankan government has decided to extend the guaranteed price of 80 rupees per kilogram of green leaf produced by tea smallholders until this August.Cabinet of Ministers has approved a proposal by Plantation Industries Minister Lakshman Kiriella to extend this scheme implemented under the 100 day programme of the government.Meanwhile […]
Golden Key depositors to be paid July 24th: Ravi K
July 16, 2015 (LBO) – Sri Lanka’s Finance Minister, Ravi Karunanayake said that all the Golden Key depositors will be paid on 24th of July 2015.“We are paying the Golden Key depositors on 24th,” the Minister told reporters in Colombo, Thursday.“The exact amount to be paid has not yet been decided yet,” The Golden Key […]
Sri Lanka CEB to
July 16, 2015 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board (CEB) has given approval to purchase a 60MegaWatt barge mounted power plant for 571 million yen (641 million rupees). The agreement on purchasing of electricity from the power plant has expired on 30th of June 2015. The proposal to purchase the plant has been […]
Sri Lanka gives nod to transport “Walla-Patta” on commercial basis
July 16, 2015 (LBO) – Sri Lanka’s cabinet of ministers have given approval to transport the plant “Gyrinopswalla” or “Walla –Patta” on commercial basis, based on a permit issued by the respective authority, cabinet spokesman Rajitha Senaratne said.The proposal was made by President Maithripala Sirisena in his capacity as the Minister of Mahaweli Development and […]
Greek MPs vote in favour of new austerity measures: Secure third Brussels bail-out
July, 16, 2015 (LBO) – Greek MPs have secured a third Brussels bail-out to ward off the threat of bankruptcy following a vote in favour of new austerity measures, foreign media reports said. “The 300 member parliament voted by a majority of 229 to 64 against on a raft of tax hikes and pension reforms, […]
Sri Lanka to pay revised pensions to pre-2006 retirees with August pension
July 16, 2015 (LBO) – Sri Lankan government has decided to revise the pensions of public servants who retired before the implementation of Public Administration Circular 6/2006 which were issued revising the salaries of public service, based on the salary revised by above circulars.The necessary instructions have been given under the Public Administration Circulars No.16/2015. […]