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Sri Lankan bank lending rate cap may not support loan growth : Fitch
Oct 07, 2019 (LBO) – The lending rate cap recently imposed by the Central Bank of Sri Lanka (CBSL) on rupee-denominated loans extended by Sri Lankan banks may not improve loan growth in the short term, Fitch Ratings says. To the extent banks cannot price for risk in order to make hurdle rates of return, […]
Sri Lanka presidential rivals hand in nominations
Oct 07, 2019 (LBO) – Sri Lanka presidential rivals handed in their nomination papers for the upcoming Presidential Election. Minister Sajith Premadasa and his main rival in elections next month, former Defence Secretary Gotabaya Rajapaksa, handed in their poll nomination papers. Premadasa representing New Democratic Front and Rajapakse representing Sri Lanka Podujana Peramuna were among […]
Sri Lanka tourist arrivals down 27-pct in Sep 2019
Oct 07, 2019 (LBO) – The total number of tourist arrivals to Sri Lanka during September 2019 was 108,575, down from 149,087 visitors or 27.2 percent from the same period last year. In September almost 98 percent of tourists travelled by air to the island. As at 30th September 2019, 1,376,312 of tourists had visited […]
Cinnamon’s 15th property, Velifushi Maldives opens
Oct 07, 2019 (LBO) – Cinnamon Hotels and Resorts, the leisure arm of John Keells Holdings continues expansion with the opening of its newest hotel, Cinnamon Velifushi Maldives. The opening of the new resort on the island of Aarahveli is the fourth property added to its portfolio in the Maldives, and the 15th to its […]
Esala Weerakoon approved as next secretary-general SAARC
Oct 07, 2019 (LBO) – The informal meeting of the council of ministers of the South Asian Association for Regional Cooperation (SAARC) held in New York last week has approved the nomination of former Foreign Secretary and senior career diplomat Esala Weerakoon, to be the 14th Secretary General of the association. The office will come […]
All borrowings since 2016 used to settle Rajapaksa loans: Mangala
On 9th January 2015, as the Rajapaksa family took-off to Medamulana, they flew past many of their white elephants. In Colombo, it was the Lotus Tower. As they landed, the empty and unused Mattala Airport, Hambantota Port, Cricket Stadium, IT Park, Cinema Park and Conference Hall must have come into view. The Treasury Building – […]
Price of Litro brand domestic gas cylinders down
The price of Litro brand gas cylinders has been reduced from midnight today. The prices of 5 Kg and 2.3 Kg LPG gas cylinders too have been reduced accordingly. The price of a 12.5 Kg LPG domestic Litro gas cylinder has been reduced by Rs 240.00 in Colombo District and by Rs 251.00 in all […]
We will ensure that Sri Lanka meets its voluntary intl commitments: Sajith
Oct 04, 2019 (LBO) – Presidential Candidate of the United National Front, Sajith Premadasa at an interaction with the Diplomatic Corps, assured that he is committed to working as a team in government, and ensure that Sri Lanka meets its voluntary international commitments. Addressing the Diplomatic Corps on Wednesday, Premadasa said that they are firmly […]
LankaPropertyWeb partners with HNB for Home Loan Products
LankaPropertyweb.com (LPW), Sri Lanka’s premier property site, recently tied up with Hatton National Bank (HNB) to offer its customers a range of home loan products. Through this expansion of services, LPW seeks to minimize the hassle buyers undergo in order to secure a credit facility to make a property purchase. Available through the LPW website, […]
MODSIT to fast track German investments in Sri Lanka
Oct 04, 2019 (LBO) – The Ministry of Development Strategies and International Trade (MODSIT) and the Board of Investment of Sri Lanka held an interactive meeting titled the German Sri Lankan Fast Track Dialogue with the German investor community, to address any issues faced by investors from Germany currently operating in Sri Lanka. The German […]
Mahindra bets big on Sri Lanka
Mahindra & Mahindra Ltd., a part of the US $20.7 billion Mahindra Group, emphasized the importance of Srilanka as a key strategic growth market in the company’s overall global growth strategy. With the recent inauguration of its 1st automotive assembly plant, the company is now fully equipped to deliver products customised to local needs, on […]
Mangala calls Mahinda to a public debate on debt status
Oct 04, 2019 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera called on former President Mahinda Rajapaksa to enter into a public debate on the true status of the national debt. Samaraweera addressing media on Thursday assured the island’s economy is now stable because of sound fiscal policies introduced over the past few years by […]