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Sri Lanka official reserves improve to USD8bn by end 2017
Jan 12, 2018 (LBO) – Sri Lanka’s gross official reserves have improved to 7,952.58 million US dollars by the end of last year from 7,319.40 million dollars in November 2017, official Central Bank data showed. By the end of 2016, country’s gross official reserves were stood at 6,062.71 million US dollars. Foreign currency reserves were […]
CPA comments on Supreme Court decision of Presidents office term
(PRESS RELEASE) – The Centre for Policy Alternatives (CPA) made representations today on behalf of itself and its Executive Director, Dr. Paikiasothy Saravanamuttu, intervening in the reference made by President Maithripala Sirisena to the Supreme Court regarding his term of office as President. On 8 January 2018, media reports indicated that President Sirisena had sought […]
Fitch rates Sampath Bank Basel III sub debt A(lka)(EXP)
Jan 12, 2018 (LBO) – Fitch Ratings has assigned Sampath Bank’s proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘A(lka)(EXP)’. The notes will total 7.5 billion rupees, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. […]
“Enterprise Sri Lanka” to be launched in March: Fin Min
Jan 12, 2018 (LBO) – Sri Lanka’s Government will disburse 60 billion rupees through state and private banks while the Treasury will set aside 5 billion rupees to reimburse interest to banks as part of the Budget 2018’s “Enterprise Sri Lanka” program to create new entrepreneurs. Minister of Finance and Mass Media MangalaSamaraweera said that one of the […]
Governor received bond commission report yesterday: Central Bank
Jan 11, 2018 (LBO) – Central Bank revealed Thursday that the secretary to the President has handed over a copy of the bond commission report to the Governor of Central Bank yesterday. Central Bank said that it has already implemented some of the recommendations, while measures have already been initiated to implement most of the […]
CEAT Kelani to invest Rs3Bn in local tyre industry , Eyes US market
Jan 11, 2018 (LBO) – Sri Lankan tyre manufacturer, CEAT Kelani said they will invest 3 billion rupees in the local industry over next two years. Unveiling its masterplan to local media the Indo-Lanka Company said it will set up a new truck bus radial tyreplant while also doubling production of radials and motorcycle tyres and […]
Earl & Countess of Wessex to represent Queen at Sri Lanka independence day
His Royal Highness The Prince Edward, Earl of Wessex, and Her Royal Highness The Countess of Wessex, will visit Sri Lanka from 31 January to 4 February 2018.Their Royal Highnesses will represent Her Majesty The Queen at the 70th anniversary celebration of Sri Lanka’s independence on 4 February.The Earl and Countess will travel to Colombo […]
Sri Lanka Govt issues new guideline for visa
Jan 11, 2018 (LBO) – The cabinet of ministers has given the go ahead to regularize and update the present method of visa issuing in Sri Lanka. According to the latest statement on cabinet decisions it was decided to collect visa charges in US Dollars instead of Sri Lankan Rupees and to add following to […]
RCL commences Colombo-Tuticorin new feeder service at JCT
Regional Container Line (RCL) commenced a new twice weekly feeder service connecting Colombo with Tuticorin, the second largest port in Tamil Nadu state, India. MV CHARLIE with the capacity of 1,730 TEUs will be deployed under ‘RCL Tuticorin Colombo’ service (RTC) by RCL. The vessel will shuttle between Colombo / Tuticorin / Colombo and will […]
Sri Lanka lifts ban on sale of liquor to women
Jan 11, 2018 (LBO) – Sri Lanka’s Finace Ministry announced that the government will lift the ban on sale of liquor to women in retails outlets and employment of women in bars. Issuing a statement the ministry said that Minister of Finance Mangala Samaraweera has revoked the prohibition on selling liquor to women and employing women […]
Russian Federation wants bigger trade with Sri Lanka; talks on Tea, asbestos
Jan 10, 2018 (LBO) – Russian Federation has vowed for bigger trade with Sri Lanka, calling to dispatch a strong delegation to the trade meet scheduled in Moscow this year. Sri Lanka’s total trade (both imports and exports) with the Russian Federation which was at 435.83 million dollars in 2015, declined to 381.71 million in 2016. […]
Virtusa’s Smart ATM Recognized at The International Business Awards
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, announced that it has been awarded a Bronze Stevie Award at The 2017 International Business Awards for Best New FinTech Product or Service of the Year for the company’s Smart ATM solution, a unique […]