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Sri Lanka’s govt targets a USD 6000 per capita income within next five years – President
June 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena was quoted saying that the government expects to increase per capita income to 6000 US dollars, within next five years and comprehensive development will be formed in every field including investments and industries to achieve this. President Sirisena has made this comments while he was […]
Sri Lanka North calls for private investments
June 30, 2015 (LBO) – Sri Lanka’s Northern Province calls for private investments in water disposal, recycling, construction, health care, hospitality, trade and vocational targeting at increasing household income of the people.“Some of the fundamental problems faced by the people of the North and the East are their socio-economic problems, the post conflict trauma, livelihood […]
Greece to default debt
June 30,2015 (LBO) – A senior government official of Greece has declared that Greece will not honor loan installment repayment of USD 1.8 falls due on Tuesday, media reports say. Analysts say this brings Greece a step closer to departure from Eurozone.Leaving the Eurozone is highly complicated, as the agreement that brought nations together to […]
Sri Lanka’s former President Rajapaksa to make special statement tomorrow
June 30, 2015 (LBO) – Sri Lanka’s former President Mahinda Rajapaksa is to make a special public statement tomorrow morning, former President’s media coordinator Rohan Weliwita said. “Former President is making a public statement tomorrow at 11.20 at his residence in Weeraketiya, Madamulana.” Weliwita told LBO. Pro Rajapaksa fraction is reportedly making arrangements to form a […]
Asia Misery Extended to European Markets
June 29,2015 (LBO) -The European markets fell sharply on Monday following the dramatic drop in Asia markets in earlier Monday, spooked by a possibility of Greece walking away from the debts.In France CAC40 fell by nearly 5%, in Germany DAX by 3% and in Britain FTSE 100 by 2.2%. The Greek debt crisis also hit […]
Sri Lanka sells Rs32.3bn of 4, 6 and 8 year bonds
June 29, 2015 (LBO) – The issue of treasury bonds amounting to 30 billion rupees have been oversubscribed with 79.15 billion rupees of bids received from investors.The central bank has accepted 3.7 billion rupees of four year bonds maturing on 01 June 2020 at a weighted average yield rate of 8.16. The bond auction held […]
Sri Lanka to get USD165mn credit to up access to piped water servicers
June 29, 2015 (LBO) – The World Bank Board has approved a 165 million US dollars credit for Sri Lanka to increase access to piped water services and improved sanitation in the Mullaithivu, Kilinochchi, Nuwara Eliya, Badulla, Monoregala, Kegalle and Ratnapura Districts. The bank says around 450,000 people are expected to benefit under the project, […]
Greek Debt Crisis – Bloody Monday in Asian Markets
June 29,2015 (LBO) – Greek’s decision to close banks has caused erosion in investor confidence across Asia as evident by Billions wiped out in Monday morning trade in key Asia Pacific Markets. Despite the China’s weekend rate cut, Shanghai lost 0.4 percent. Nikkei and Hang Seng lost 2 percent and 1.7 percent respectively. All markets […]
Sri Lanka signs articles of agreement for Asian Infrastructure Investment Bank
June 29, 2015 (LBO) – Sri Lanka on Monday signed the articles of agreement for the China led Asian Infrastructure Investment Bank which is expected to be operational by the year end. Representatives from 57 prospective founding members of the Asian Infrastructure Investment Bank including Sri Lanka gathered on 29 June 2015 in Beijing at […]
Designated envoys to Philippines and Vietnam visits Ceylon Chamber of Commerce
The Ceylon Chamber of Commerce recently, facilitated a meeting between Sri Lanka’s designated envoys to Vietnam and Philippines, respectively Hasanthi Dissanayake and Aruni Ranaraja and some local companies, who are doing business with the respective countries to discuss matters relating to trade and commercial ties between Sri Lankan and those two countries. During the discussion, […]
Sri Lanka keeps key policy rates steady, credit to private sector grows in April
June 29, 2015 (LBO) – Sri Lanka’s Central Bank has decided to maintain its standing deposit facility rate and the standing lending facility rate unchanged at 6.00 percent and 7.50 percent, respectively. The Central Bank’s monetary board at its meeting held on 26 June 2015 has also decided to keep statutory reserve ratio stable at 6.00 […]
Sri Lanka’s Bartleet Finance and Orient Finance to be merged
June 29, 2015 (LBO) – Sri Lanka’s Bartleet Finance Plc, and Orent Finance had been given approval by shareholders, to merge both companies, Orient Finance said in a stock exchange listing.“Existing shareholders would get a payment of 14.97 rupees per share for every one ordinary share of Orient finance or 01 ordinary voting share in […]