Category:
ADB approves USD 100Mn additional funding to enhance job skills in Sri Lanka
May 11, 2018 (LBO) – The Asian Development Bank’s (ADB) has approved a US 100 million dollars results-based loan as additional financing for the Government of Sri Lanka’s efforts to develop skills to meet labor demands, support economic diversification, and enhance productivity in the country. “Sri Lanka has achieved universal primary and high secondary enrollment […]
Sri Lanka gross official reserves improved to USD9.9bn by end April
May 11, 2018 (LBO) – Sri Lanka’s gross official reserve position had improved to 9.9 billion US dollars by end April, the record highest level in history with the successful issuance of the international sovereign bond in April and foreign exchange purchases by the Central Bank from the domestic market. So far during the year, the exchange […]
Central Bank maintains policy interest rates unchanged
May 11, 2018 (LBO) – Monetary Board of the Central Bank at its meeting held on 10 May 2018 has decided to maintain policy interest rates at their current levels.Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) remain at 7.25 per cent and 8.50 per cent, respectively. The Board’s decision aims […]
‘s Nations Trust Bank PAT Rs.939Mn, up 30-pct
May 11, 2018 (LBO) – Nations Trust Bank recorded a post-tax profit of 939 million rupees, up by 30 percent in the first quarter of 2018 over the corresponding period in the previous year. Profitability growth was underpinned by a 7 percent growth in loans and advances during the period under review along with improving […]
Sri Lanka to revise fuel price every two months
May 11, 2018 (LBO) – Fuel prices in Sri Lanka will be revised every two months under a new cabinet approved pricing formula, Finance Minister Mangala Samaraweera said. “We will be reviewing according to the Platts Singapore benchmark prices,” he told reporters in Colombo. “This means the price could either increase or decrease.” Sri Lanka […]
GSP Plus is a transient popup for apparel sector: Apparel Institute’s Chairman
May 10, 2018 (LBO) – Apparel industry leaders say that increasing apparel exports and receiving trade benefits such as GSP Plus facility, should not blind the sector but the industry should move on and face emerging challenges to advance to the next level. Chairman of Sri Lanka Apparel Institute Prof. Lakdas Fernando addressing the launch […]
Sri Lanka hikes petrol, diesel prices: Cabinet approves fuel pricing formula
May 10, 2018 (LBO) – Sri Lanka has increased the prices of petrol and diesel following a cabinet decision to approve a fuel pricing formula. Petrol (92 octane) will increase to 137 rupees and petrol (95 octane) will be increased to148 rupees. Auto diesel will go up to109 rupees while super diesel will be sold at […]
15 finalists selected for Mother Daughter Fashion Designer Contest
The Chokolaate LiCC Mother Daughter Fashion Designer Contest organized by Sri Lanka’s premier teen magazine Chokolaate returns for the 9th consecutive year in partnership with LiCC Jeans on the 26th of May, 2018. The event this year will showcase designs created by fifteen talented designers. The finalists were chosen after the completion of the preliminary […]
‘s agricultural sector
May 10, 2018 (LBO) –The European Union has launched a 810 million rupee project to support the modernization of Sri Lanka’s agriculture sector. The project “Support to the modernisation of the agriculture sector in Sri Lanka” will be implemented by Ecorys. A technical assistance team will assist the Government in making the agriculture sector more […]
Siyapatha Finance to raise Tier 1 capital with a rights issue
May 10, 2018 (LBO) – Sri Lanka’s Siyapatha Finance is planning to raise 250 million rupees by way of a rights issue, the company said in a stock exchange filing. The director board has resolved to increase the Tier 1 capital of the company through this rights issue. Subjected to the regulatory and shareholder approvals, […]
Mahathir Mohamad, 92 will become worlds oldest PM
May 10, 2018 (LBO) – Former Malaysian leader Dr Mahathir Mohamad will become the world’s oldest prime minister after wining the recently held polls in the country, foreign media reports said. He defeated Najib Razak ending a long hold on power of the Barisan Nasional coalition, which has been in power in Malaysia since its birth […]
10 major bridges rehabilitated with concessionary loan from JICA
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2018/05/180508_press-release_major-bridges-pk-1.pdf” title=”180508_press release_major bridges pk 1″]