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Foreign Minister attends swearing-in ceremony of Maldives President
Foreign Minister Dr. Sarath Amunugama led the Sri Lanka delegation to the swearing-in ceremony of President Ibrahim Mohamed Solih of the Maldives on 17 November 2018.Seen here, Foreign Minister Dr. Amunugama congratulating the newly sworn-in President. (Media Release – Ministry of Foreign Affairs)
‘s downgrades ratings of BOC, HNB, Sampath Bank; changes outlooks to stable
Nov 21, 2018 (LBO) – Moody’s Investors Service has downgraded the long-term local currency deposit and foreign currency issuer ratings of Bank of Ceylon (BOC), Hatton National Bank Ltd. (HNB) and Sampath Bank PLC (Sampath) to B2 from B1. At the same time, Moody’s has downgraded the long-term foreign currency deposit ratings of the same three […]
‘s political crisis puts IMF loan negotiations on hold
Nov 21, 2018 (LBO) – The International Monetary Fund (IMF) loan facility to Sri Lanka, approved in mid-2016, has been put on hold due to the islands prevailing political crisis, a foreign media report said. I The IMF approved the loan facility on the condition of comprehensive economic reforms. Speaking to media two weeks before the […]
Sri Lanka lubricant market share shifting: Report
Nov 21, 2018 (LBO) – Sri Lanka’s lubricant market dynamics are shifting with market share of Chevron and Indian Oil dipping, a new report shows. According to data from the Public Utilities Commission of Sri Lanka (PUCSL) in the second quarter of 2018 Laugfs and Exxon Mobil have shown gains in the market. The full report […]
Sri Lanka is on the brink of economic anarchy and chaos: Mangala
Nov 20, 2018 (LBO) – Sri Lanka’s former Finance Minister Mangala Samaraweera says that Sri Lanka is on the brink of economic anarchy and chaos as never experienced before. Releasing a statement, Samaraweera says the cavalier and irresponsible actions starting on October 26th places at risk Sri Lanka’s ability to meet its immediate debt obligations. “In […]
‘s downgrades Sri Lanka ratings to B2 amid political crisis
Nov 20, 2018 (LBO) – Moody’s Investors Service has downgraded the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings to B2 from B1 and changed the outlook to stable from negative. The decision to downgrade the rating to B2 is driven by Moody’s view that ongoing tightening in external and domestic financing conditions and […]
Neil Umagiliya assumes duties as Bank of Ceylon’s new Chairman
Nov 20, 2018 (LBO) – N.A. Umagiliya was appointed as the Chairman, Bank of Ceylon and assumed office on Monday 19th November 2018 as the 25th Chairman of the Bank. He is a Fellow Member of the Institute of Chartered Management Accountants, United Kingdom and a Member of the British Institute of Management. Umagiliya is […]
Party leaders agree to appoint Committee of Selection: Deputy Speaker
Nov 19, 2018 (LBO) – Sri Lanka’s Deputy Speaker Ananda Kumarasiri on Monday informed the Parliament that the party leaders have agreed to appoint the Committee of Selection and asked political parties to nominate their members.The decision has been taken at the party leaders meeting held today morning under the chairmanship of Speaker Karu Jayasuriya.Even […]
Prosperity Index show gains in North Western, Sabaragamuwa, Southern and Western provinces
Nov 19, 2018 (LBO) – Sri Lanka Prosperity Index (SLPI), increased to 0.771 in 2017 from 0.661 recorded in 2016, mainly due to improvements in ‘Economy and Business Climate’ and ‘Socio-Economic Infrastructure’ sub-indices, the Central Bank said in a statement.. Economy and Business Climate sub-index has improved during 2017, due to increase in per capita […]
H One launches machine management solution for apparel industry
Nov 19, 2018 (LBO) – H One, a IT solutions provider, launched Res.Q| MI; an all-encompassing machine management solution designed with both large and small-scale factories in mind. Res.Q Machine Inventory is a revolutionary new asset management solution which leverages the capabilities of NFC (Near Field Communication) technology for the management, protection, and maintenance of one […]
”s constitutional crisis
November 17, 2018 (LBO) – Pelted with bottles of water mixed with chilli paste.Chairs, books and other projectiles thrown at them. Pushed and shoved by men who are decades older than them dressed in suits and national dress.The above image is one of Sri Lanka’s police officers, many of them young men, unarmed and forming […]
ComBank allows credit cardholders to settle balances with any debit/credit card
The Commercial Bank of Ceylon has introduced another first in online banking in Sri Lanka, making it possible for the Bank’s Credit Card holders to settle outstanding card balances via its Internet Payment Gateway (IPG) using another local bank Debit or Credit Card. The facility allows Commercial Bank Credit Card holders to make online payments […]