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Nations Trust Bank records subdued performance
May 15, 2019 (LBO) – The Bank’s performance during the quarter ending 31st March 2019 reflected a continuation of the issues witnessed in the previous few quarters with increasing non-performing loans and moderation of credit growth. The increased credit cost arising from both higher NPLs and policy changes relating to SLFRS 9 impairment provisioning added […]
‘t let children’s future be ruined by getting caught up in a racial conflict
By Harsha de Silva, PhD, M.P(Minister of Economic Reform and Public Distribution) Recovering from a terror attack is easy, recovering from a racial conflict isn’t As an economist, I’ve spent most of my career exploring ways in which Sri Lanka can be developed and modernized to meet its full potential. I’ve expressed my views on […]
USD 70mn loan facility from IDA to strengthen services of Local Govt Authorities
The International Development Association (IDA) of the World Bank has provided a loan facility of USD 70 million to strengthen the service provided by 134 Local Authorities in the Northern, Eastern, North Central and Uva Provinces under the Local Development Support Project (LDSP). The signing of this Loan Agreement took place on Tuesday the May […]
Sri Lanka Tourism to start new series of promotional campaign from Thailand
May 15, 2019 (LBO) – Sri Lanka Tourism is planning to conduct promotional campaigns in source markets closest to the country. Accordingly, Thailand which shares a close relationship with Sri Lanka especially through Buddhism has been selected as the first country to carry out the new series of promotional campaigns. Sri Lanka Tourism will be […]
‘s only Dangerous Goods Storage Facility
May 14, 2019 (LBO) – Sri Lanka’s first, and South Asia’s most advanced, Dangerous Goods Storage Facility (DGSF) was commissioned on Friday, 10th May at the Colombo International Container Terminal (CICT) equipping the Port of Colombo with a sophisticated storage yard for cargo classified under the International Maritime Dangerous Goods (IMDG) Code. An investment of […]
Island-wide police curfew lifted : Call for calm from PM and armed forces
May 14, 2019 (LBO) – The island-wide police curfew which was imposed last night has been lifted at 4 am, Tuesday. Issuing a statement the Police Media Division said the curfew imposed on the North Western Province is still in effect. The curfew affecting the Gampaha police division has also been lifted. Police curfew was […]
If not adequately dealt with, recent violence has potential to escalate further: UN Advisers
May 14, 2019 (LBO) – United Nations Special Advisers have encouraged the Government to make sure that the recent attacks against religious minorities and other past similar attacks are fully investigated and those responsible for committing these violent acts are brought to justice and made accountable. In a joint statement, the United Nations Special Adviser […]
Dialog record revenue of Rs.29.0Bn for Q1 2019
May 14, 2019 (LBO) – The Group continued its growth momentum across all key business segments, namely, mobile, international, tele-infrastructure, digital pay television and fixed line to record a consolidated revenue of 29.0 billion rupees for Q1 2019, demonstrating a growth of 2 percent quarter-on-quarter (“QoQ”) and 11 percent year-on-year (“YoY”). Underpinned by strong revenue […]
HNB Group records PBT of Rs 3.4Bn in 1Q 2019
May 14, 2019 (LBO) – Hatton National Bank posted a profit before tax of 3.3 billion rupees and a profit after tax of 2 billion rupees for the first quarter of 2019. HNB Chairman Dinesh Weerakkody Commenting on the performance noted that “amidst macroeconomic gains, Sri Lanka’s economic growth trajectory remains underwhelming and meandering below […]
Sri Lanka blocks Twitter for first time to prevent sharing harmful information
May 14, 2019 (LBO) – Sri Lankan authorities have taken steps to temporarily block the Twitter platform for the first time to stop sharing harmful information on social media. Other social media platforms including Facebook, WhatsApp, Instagram, YouTube, Viber, Snapchat and Facebook Messenger have already been blocked in the country from yesterday. Net freedom mapping […]
IMF approves extension & USD164mn disbursement; grants waivers to Sri Lanka for performance criteria
May 14, 2019 (LBO) – The Executive Board of the International Monetary Fund has completed the fifth review of Sri Lanka’s economic performance under the program supported by an extended arrangement under the Extended Fund Facility (EFF). Completion of this review, upon the granting of waivers of nonobservance for the end‑December 2018 performance criteria on […]
Ruwan Wijewardene appointed acting Defence Minister as President travels to China
May 13, 2019 (LBO) – Sri Lanka’s State Minister of Defence Ruwan Wijewardene has been appointed as the acting Defence Minister in coordination with President Maithripala Sirisena’s trip to China. With the exception of a short 50 day period during Sri Lanka’s recent constitutional crisis, Wijewardene has been the State Minister of Defence continuously since […]