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Sri Lanka headline inflation marginally increased in July
Aug 22, 2019 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI) increased marginally to 2.2 percent in July from 2.1 percent in June. According to Central Bank data, this was due to the monthly price increases of items in both Food and Non-food categories. […]
JICA, Women & Child Affairs Ministry launched training programme for Frontline Officers
Ministry of Women & Child Affairs and Dry Zone Development (MOWCADZD) has launched the capacity building training programme for Frontline Officers (FLOs) under technical cooperation by Japan International Cooperation Agency (JICA). Inauguration and launching of this in-country training programme has conducted on August 19th, 2019 in Palgahathanna Management Development Training Centre in Uva Province with […]
Sri Lanka cabinet grants approval to amend Muslim Marriage & Divorce Act
Aug 21, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has approved a proposal to amend the Muslim Marriage and Divorce Act. The proposal contains amendments to the Act including the legal age for a Muslim marriage (minimum age 18) and the process that should be followed when registering a marriage. There are also proposals […]
Sri Lanka unveils modern hi-tech TVET facility with South Korean backing
Aug 21, 2019 (LBO) – Backed by the global industrial giant South Korea, Sri Lanka launched its most modern national hi-tech training facility to-date on Wednesday. As it unveiled its Technical and Vocational Education and Training (TVET) facility in a Colombo suburb, Sri Lanka also said that its skills development work has shown results so […]
SEC files action against several individuals for market manipulation
Aug 20, 2019 (LBO) – Securities and Exchange Commission of Sri Lanka (SEC) has filed an action before the Fort Magistrate’s Court against several individuals for market manipulation. The full statement is reproduced below. SEC FILES ACTION FOR MARKET MANIPULATION The Securities and Exchange Commission of Sri Lanka (SEC) on 25th July 2019 filed action […]
Appointment of Army Commander is a sovereign decision by Head of State: Foreign Ministry
Aug 20, 2019 (LBO) – Sri Lanka’s Foreign Ministry says that the appointment of Army Commander is a sovereign decision by the Head of State and foreign entities trying to influence the decisions and internal administrative processes of public service promotions is unwarranted and unacceptable. Releasing a statement, the Foreign Ministry said that articulating a […]
Mobitel signs MoU with Japura Uni to conduct collaborative research on 5G, IoT & AI
The National Mobile Service Provider, Mobitel recently signed a landmark Memorandum of Understanding (MoU) with the University of Sri Jayewardenepura, to co-create and co-innovate in the area of telecommunication, 5G, Internet of Things (IoT), Artificial Intelligence (AI) and more – with both parties sharing their respective areas of expertise and knowledge towards the common goal […]
SLASSCOM and Norway sign collaboration agreement on ICT and entrepreneurship
Aug 20, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a two-year agreement to foster collaboration in the ICT industry. The newly appointed Norwegian Ambassador to Sri Lanka, H.E. Trine Jøranli Eskedal and Ranil Rajapakse, chairman SLASSCOM signed the agreement. The […]
Pigeon Island partners Blue Resources Trust to create conservation programs
Aug 20, 2019 (LBO) – Sri Lankan tropical wear brand Pigeon Island, based on marine conservation and plastic recycling, recently partnered with Blue Resources Trust, a marine research, conservation, and education non-profit organisation based in Sri Lanka. Through this partnership, Pigeon Island and Blue Resources Trust will gather research on the status of sharks and […]
USD160mn ADB loan to modernize Sri Lanka’s railway sector
Aug 20, 2019 (LBO) – Sri Lanka’s government has mobilized loan assistance amounting to 160 million dollars from the Asian Development Bank (ADB) to cater to the increasing demand of the Railway Sector through modernization of the railway operations and thereby improving the efficiency of services provided by Sri Lanka Railways. The total estimated investment […]
Samurai Bond to support reserves to maintain around USD8Bn throughout 2019: FC
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the raising of 500 million dollars via Samurai Bonds is likely to support to maintain reserves around the 8 billion dollar mark throughout the rest of this year. As per the Governor of Central Bank, the government will soon issue Request for Proposals […]
First Capital assigns higher probability for neutral monetary policy stance
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the Central Bank may delay the monetary easing while allowing the impact of the previous rate cut to materialise. With manufacturing and credit signaling signs of recovery in economy and vulnerabilities affecting the external outlook, they assign a higher probability of 70 percent […]