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Sri Lanka GDP growth up 4.1-pct, Global slows to 2.9-pct : World Bank
Jan 10, 2019 (LBO) – Sri Lanka Gross Domestic Product growth is anticipated to speed up slightly to 4 percent in 2019, supported by robust domestic demand and investment boosted by infrastructure projects, the World Bnak’s January 2019 Global Economic Prospects says. It also says that regional growth is expected to accelerate to 7.1 percent in 2019, underpinned […]
FM to meet IMF Managing Director in Washington on IMF Fund Facility
Jan 09, 2019 (LBO) – Minister Mangala Samaraweera will leave for Washington on Friday, to get the IMF External Fund Facility (EFF) back on track, the Finance Ministry said. The ministry said in a statement that the minister will be meeting Christine Lagarde, Managing Director, Mitsuhiro Furusawa, Deputy Managing Director, Chanyong Rhee, Director, Asia Pacific Department, Manuel Goretti, […]
No one knows what will happen to economy in the coming months: MR
Jan 09, 2019 (LBO) – Leader of the Opposition, Parliamentarian Mahinda Rajapaksa says that the country faces three major dangers as the country complete four years since the change of government on 9 January 2015. According to him, the first among them is the danger of the economy collapsing at any moment. The opposition leader says that […]
Reserve Bank of India agrees to provide USD400mn SWAP to Central Bank
Jan 09, 2019 (LBO) – Reserve Bank of India (RBI) has agreed to provide 400 million US dollars to the Central Bank of Sri Lanka under its SAARC SWAP facility which will boost the reserves in the country. Sri Lanka’s Central Bank said in a statement that they have also requested a further bilateral SWAP […]
Opinion: “Banking is necessary; banks are not” – Bill Gates
By Taamara de Silva To those who say that Apple did not kill the music industry, being forced to buy the entire music album did, Amazon did not kill retailers, long queues at the local store did, AirBnb didn’t kill the hotel industry, limited availability of hotel rooms did, Uber didn’t kill the taxi business, […]
Deepthie Wickramasuriya joins the Board of Vidullanka PLC
Vidullanka PLC announced the appointment of Ms.Deepthie Wickramasuriya to the Board of Vidullanka PLC as a Non-Executive Independent Director with effect from 01st January 2019. This announcement follows the resignation of Mr. Zulficar Ghouse from the board a day before. In addition to joining the Board of Vidullanka PLC, Ms. Deepthie serves the Board of […]
Democracy Index 2018: Sri Lanka ranking falls more than others in region after crisis
Jan 09, 2019 (LBO) – Sri Lanka’s democracy ranking has fallen more than any other country in the region with a marked decrease in its score from 6.48 in 2017 to 6.19, driven by a worsening in the functioning of government and in civil liberties.The Economist Intelligence Unit’s Democracy Index 2018 provides a snapshot of […]
Chinese payment solution ‘WeChat Pay’ acceptance launched by Commercial Bank
Chinese tourists visiting Sri Lanka now have the added benefit of purchasing goods and services and paying for them through ‘WeChat Pay’ – one of the leading mobile payment solutions in China, consequent to a partnership between the Commercial Bank of Ceylon PLC and Tenpay Payment Technology Ltd. This mobile app solution is brought to […]
Mastercard evolves its brand mark by dropping its name
Mastercard announced that it is dropping its name from its iconic brand mark in select contexts. The interlocking red and yellow circles, referred to as the Mastercard Symbol, will now stand on its own across cards using the red and yellow brand mark, acceptance marks at retail locations both in the physical and digital worlds, […]
Cabinet approves Appropriation Bill; budget deficit 4.8-pct of GDP
Jan 08, 2019 (LBO) – Sri Lanka’s Finance Ministry said the approval of the cabinet was granted to the Appropriation Bill 2019, submitted by the Finance Minister, Mangala Samaraweera. Accordingly, this year’s state expenditure will be 4,470 billion rupees and the budget deficit will be 4.8 percent of the GDP. The State revenue which was […]
BOI signs agreement for USD1.8mn warehousing & logistic project in Malwana
Jan 08, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with Skylift Container Depot and Logistics to set up a facility that would be engaged in warehousing and logistics services with a container depot. This project with a total value of 1.83 million US dollars will be located at Walgama, Malwana […]
‘s Moolai Cooperative Hospital
By Jekhan Aruliah In the North-West corner of the Jaffna Peninsula close to the causeway to Karainagar Island is the small village of Moolai. It is a patch of land connecting the causeway to Karainagar with its famous Casuarina Beach, and Vaddukoddai with its famous school Jaffna College. Moolai would have been quite unknown but […]