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Malaysian investors to bid for Northern Expressway: Suggest to renew bilateral trade
Feb 27, 2015 (LBO) – Sri Lanka northern expressway which links the Island’s capital Colombo to the northern Jaffna peninsula to be bided by Malaysian investors, a statement said. We are bidding for Northern Highway on BOT (build-operate-transfer) basis, Dato’ Seri S. Samy Vellu, Malaysia’s Special Envoy of Infrastructure for India and South Asia with […]
‘s inflation drops to 2.9-pct in Feb 2015: Central Bank
Feb 27, 2015 (LBO) –Sri Lanka inflation declined to 2.9 percent in February 2015 from 3.2 percent in January 2015, on a year-on year basis, as a result of the downward revision of fuel prices in the interim budget of the new administration, the Central Bank said in a media release. The data measured by […]
Sri Lanka Hayleys’s Rs2bn debt issue oversubscribed
Feb 26, 2015 (LBO) – Sri Lanka, Hayleys PLC’s issue of 20,000,000 senior unsecured listed redeemable rated debentures was oversubscribed today receiving applications for over two billion rupees, the company said in a filing to the stock exchange. The company issued 20, 00,000 debt at 100 rupees each. The issue would be closed at 4.30 […]
’s forex reserves down to US$7.26bn in Jan 2015: Central bank
Feb 26, 2015 (LBO) – Sri Lanka’s forex reserves fell to 7.261 million US dollars in January 2015, from 8.208 million US dollars in December 2015,official data showed. The Island’s foreign reserves were up in August 2014 at 9.2 billion US dollars amid weak credit growth and since then it was falling steadily as domestic […]
Sri Lanka port city project would create infrastructural and sewage disposal issues: Deputy Minister
Feb 26, 2015 (LBO) – Sri Lanka’s Chinese funded port city project would have infrastructural and sewage disposal issues once implemented, Deputy Minister of Highways, Higher Education and Investment Promotion said at an event held in Colombo. Much has been said in the recent weeks about the port city development in Colombo and I am […]
Sri Lanka Central Bank asked all banks to pay 15-pct interest to 60+ depositors
Feb 26, 2015 (LBO) – Sri Lanka’s Central Bank has asked all the banks to pay 15 percent interest for term deposits of up to a million rupees, held by depositors over 60 years of age, the bank said in a statement. Senior citizens who opened fixed deposits up to 2.5 million rupees before the […]
Sri Lanka to get World Bank support in implementing policies to reduce poverty
Feb 24, 2015 (LBO) – World Bank’s vice president for the South Asia Region Annette Dixon said the Bank would partner with the government to help shape and implement policies aimed at reducing poverty, improving shared prosperity and promoting sustainable growth. The Government has laid out an ambitious reform agenda aimed at improving governance, transparency […]
Sri Lanka gets a new army commander
Feb 21, 2015 (LBO) – President Maithripala Sirisena in his capacity as the Minister of Defence and Commander in Chief of the Armed Forces has appointed Major General A.W.J.C De Silva as the next Commander of the Sri Lanka Army, a media report said. The appointment will be effective from 22nd February, 2015. De Silva […]
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Feb 20, 2015 (LBO) –The new government had to revisit the ‘deemed Value Added Tax’ where it was asked by the new administration to pay tax on ‘VAT-exempt’ items such as vegetables, seafood and rice by limiting the ability of companies to reclaim taxes, Sri Lanka’s Cargills Food City Chief Ranjith Page said in Colombo […]
War crimes: US, four others agree on local probe
Feb 20, 2015 (LBO) – Five countries, including the United States have agreed that Sri Lanka could conduct a local investigation over the alleged war crimes during the war, Cabinet Spokesman Minister Rajitha Senarathne said at the Cabinet media briefing yesterday. However, the UN High Commissioner for Human Rights Zeid Ra’ad Al Hussein stressed that […]
’s discussion with IMF and the World Bank begun
Feb 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has begun discussions with World Bank Managing Director Sri Mulyani Indrawati and with IMF Managing Director Christine Lagarde, the central bank said in a media release. Also, these discussions will continue with the senior officials in the context of the next regularly scheduled Post-Program […]
’s Prime Minister Modi to visit Sri Lanka: First visit after 28 years
Feb 20, 2015 (LBO) – India’s Prime Minister Narendra Modi will visit Sri Lanka on March 13 which is the first visit by an Indian leader to the island in 28 years, cabinet spokesman Rajitha Senaratne said yesterday. Senaratne said, the two government plans to discuss about Indian investment in Sri Lanka in detailed during […]