Category:
OPINION: 90,000 Northern families in shanties or homeless. What happened to Govt. promised housing?
By Jekhan Aruliah In October last year I had the privilege of participating in the blessing of a new water well in the Killinochchi District of the Northern Province. Its construction had been funded by the UK based charity Child Aid Lanka. The family on whose land the well is built, together with neighbours who […]
Uncertainty surrounds MTD Walkers (KAPI) upcoming Rs2.1bn debenture maturity
September 26, 2018 (LBO) – Colombo Stock Exchange (CSE) listed MTD Walkers (KAPI) has left debt market investors on the edge with regard to the company’s upcoming debenture maturity. KAPI will have to refund Rs2.1bn to investors at the end of the week on September 30th 2018. The debenture is maturing after its three year […]
NDB rights issue in question as shares trade below rights issue price of 105
September 26, 2018 (LBO) – The woes of the Colombo Stock Exchange (CSE) threaten to disrupt the capital raising efforts of one of Sri Lanka’s most prominent financial institutions. CSE listed National Development Bank (NDB) is attempting to raise funds via a rights issue to bolster the capital of the bank. The bank is trying […]
Collapse of rupee and yahapalana govt.’s economic mismanagement: MR
Sept 26, 2018 (LBO) – The Rupee has depreciated steadily against the US Dollar ever since the yahapalana government came into power – a trend which has now accelerated alarmingly. The value of the US Dollar which was Rs. 131 at the end of 2014 when I left office is now over Rs.170 and continuing […]
Millennium Challenge Cooperation to grant USD 480Mn to Sri Lanka
Sept 26, 2018 (LBO) – United States will provide a US$ 480 million grant to Sri Lanka for several development projects, a statement said. President Maithripala Sirisena by the Chief Operation Officer of US Government owned Millennium Challenge Cooperation (MCC), Brock Bierman assured the Sri Lanka’s President at a meeting at the Lowes Regency Hotel […]
‘s looks at adaptive social protection to protect poor,vulnerable from disasters
Sept 26, 2018 (LBO) – The key concerns for Sri Lanka are less about extreme poverty; and more about vulnerability to an array of risks like disaster and the management of them, the Country Director of the World Baknk in Sri Lanka said. “Sri Lanka has put in place extensive programs to respond to disasters […]
Appropriation Bill to parliament second week of October
Sept 25, 2018 (LBO) – Sri Lanka’s cabinet has approved the Appropriation Bill proposed by Finance Minister Mangala Samaraweera, to be presented in Parliament during the second week of October, a statement said. The Appropriation Bill estimates, the total expenditure for 2019 without budget proposals is 4,376 billion rupees, the latest statement on cabinet decisions said. […]
President to address UN General Assembly today
Sept 25, 2018 (LBO) – President Maithripala Sirisena arrived in New York to attend the 73rd Session of the United Nations General Assembly (UNGA), Sunday. Ministers Rajitha Senaratne, Champika Ranawaka and Mano Ganeshan accompanied the President. Foreign Minister Tilak Marapana arrived in New York yesterday. President Sirisena is scheduled to address the UNGA on September […]
Mitra Innovation expands operations into Europe – opens office in Germany
Sept 25, 2018 (LBO) – Mitra Innovation recently announced the launch of engineering and client servicing operations in Germany.The expansion into Germany further strengthens Mitra Innovation’s presence in the European region. Co-founder and CEO – Ashok Suppiah said “As part of our strategic global expansion plans, Mitra Innovation is delighted to announce its first European […]
Feature: Building Sri Lanka’s resilience to climate change
By World Bank 38-year-old Sivasidambaram Vasugi is the General Manager of one of the first cooperative-owned seed paddy processing centers in Killinochchi, Si Lanka. The Integrated Farmers Thrift and Credit Cooperative Society (IFTCCS) provides local farmers with high-quality seeds, but these days, there are no buyers walking in the door. Her community is facing a […]
Maldives elects new President: Abdulla Yameen concedes defeat
Sept 24, 2018 (LBO) – The Maldives, has voted Ibrahim Mohamed Solih, the opposition candidate, as the islands new President, foreign media reports said. Incumbent Abdulla Yameen, conceding defeat said, the citizens of the Maldives had their say and I accept that result. “I have congratulated him,” media reports quoted the out going President as saying. Solih […]