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Sri Lanka in talks to import rice from three countries
Sri Lanka has opened immediate talks with three countries on 22 June to procure a rice tranche to stabilize its domestic markets. “We are looking for par-boiled (Nadu) and Samba categories now” said the Minister of Industry and Commerce Rishad Bathiudeen on 22 June in Colombo. Minister Bathiudeen, joined by Secretary of Ministry of Industry […]
Qatar Airways eyes investment in American Airlines
June 23, 2017 (LBO) – Qatar Airways, an airline faced with a middle-eastern diplomatic row, is looking at a stake in American Airlines, the airline said in a statement. “Qatar Airways sees a strong investment opportunity in American Airlines,” it said. “Qatar Airways believes in American Airlines’ fundamentals and intends to build a passive position in […]
IB Growth Fund to increase share in Amana Bank through Rights Issue
June 23, 2017 (LBO) – Jeddah-based IDB Group’s IB Growth Fund (Labuan) LLP has acquired 1,000 shares in Amana Bank, Thursday at 3.70 rupees each making way for the company to become a shareholder and participate in a Rights Issue later. The Amana bank has already received a commitment from the Islamic Corporation for the Development […]
New share transaction fees to be effective from next week
June 23, 2017 (LBO) – Sri Lanka’s securities regulator has directed all licensed stock brokers and dealers to comply with the new fee structure which will be effective from 27 June 2017. The CSE proposed adopting a step-up fee structure rather than the present flat fee structure when consolidating transactions for the purpose of computing […]
Sri Lanka should relax issuing licenses for beer & wine: FinMin
June 23, 2017 (LBO) – Sri Lanka’s Finance Minister told Parliament Thursday that the country needs to relax issuing liquor licenses for beer & wine as it may reduce illegal liquor consumption. Minister Mangala Samaraweera said the ministry is now collecting information and is having discussions with the relevant parties with regard to the issue […]
Central Bank holds key rates unchanged, reserves climb
June 23, 2017 (LBO) – Sri Lanka’s central bank held key interest rates unchanged on Friday after a monthly monetary policy meeting with inflation moderating in April and May, and the economy expected to recover in the second half. “Growth in the first quarter was weighed down by the impact of unfavourable weather conditions, particularly […]
Opinion: A Conspiracy Theory – Tread with extreme caution, Sri Lanka
By Chrishmal Warnasuriya Introduction – Politics as the science of attaining “power”: The first lessons taught to any student of the science of politics almost invariably includes a reference to the 16th century Florentine philosopher Machiavelli and his celebrated thesis, “the Prince“; where his principle line of argument revolves on the attainment of “power” as […]
US Ambassador Atul Keshap visits eastern province
U.S. Ambassador Atul Keshap visited the Eastern Province this week to commemorate a milestone in U.S.-supported demining efforts and to attend the groundbreaking ceremony at a school to construct facilities to help communities displaced by natural disasters. During the visit, Ambassador Keshap also met leaders and activists working on post-conflict reconciliation and accountability issues. Ambassador […]
PM to head committee on UNHRC recommendations
June 22, 2017 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe will head a special committee to oversee implementation of United Nations Human Rights Council recommendations agreed on in 2015. “Cabinet approved to appoint a committee of ministers chaired by the Prime Minister Wickremesinghe together with officials to assist the main committee in this regard,” […]
‘s IFC to sell Sri Lanka rupee bonds
June 22, 2017 (LBO) – Sri Lanka’s government has approved a proposal to establish an offshore Sri Lankan Rupee (LKR) Bond Programme by the International Finance Corporation, a statement said. The program is beneficial to Sri Lanka, and the Cabinet Committee on Economic Management has recommended its implementation, the most recently approved cabinet decisions statement […]
Political commitment needed for sustainable tourism: Amaratunga
June 22, 2017 (LBO) – The importance of political commitment for sustainable tourism goals, as well as the tools to measure sustainability, was highlighted during an international tourism conference that commenced in Manila, Philippines Wednesday. Minister of Tourism Development and Christian Religious Affairs John Amaratunga, representing Sri Lanka at the 6th International Conference on Tourism […]
Opinion: Why an anti-Muslim Sri Lankan Buddhist monk is being let off the hook every time
By P.K.Balachandran The anti-Muslim Sri Lankan Buddhist monk, Ven. Galagoda Aththe Gnanasara Thera, General Secretary of the Bodu Bala Sena (BBS), has several serious cases against him relating to hate speech, blasphemy against the Quran, instigation of violence, and contempt of court. And yet, he has been evading arrest for long periods, and when arrested, […]