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Sri Lanka’s CCPI inflation up in January amid base year revision
Jan 31, 2017 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated to a six-month high of 5.5 percent in January 2017 from a year earlier, up from 4.5 percent in December, the state statistics office data showed. The moving average inflation rate for the month of January was a high of 4.3 percent […]
‘s Rs.10.4Bn electricity connection deposits
Feb 02, 2017 (LBO) – Sri Lanka’s power regulator has issued guidelines to the Ceylon Electricity Board (CEB) and the Lanka Electricity Company (LECO) to pay interest on security deposits amounting to 10.4 billion rupees as of end 2014 of electricity consumers when providing a connection. “CEB has about 10.4 billion rupees deposit (end 2014) […]
Several Sri Lankan sectors can attract smart capital: Stax
Jan 31, 2017 (LBO) – The next three to five years will be a window of opportunity in which Sri Lankan companies in healthcare, hospitality, education, and export industries can attract smart capital, a consulting firm that advises leading private equity (PE) funds worldwide said. “With the right positioning and evidence of high growth, such […]
Obama’s new house vs. Trump’s former home
Obama’s new home is valued at between $ 5. 4 million and $ 6 million. Trump’s Penthouse is valued at 0 million. The inaugural ceremony of the 45th US President took place on January 20, and one of the things people have wondered about, seeing Barack Obama leave the White House, is where he will […]
Sri Lankan rupee steady; under pressure to depreciate
Jan 31, 2017 (Reuters) – The Sri Lankan rupee was steady on Tuesday in dull trade but dealers said the currency was under depreciation pressure with foreign investors exiting government securities. Rupee forwards were active, with two-week forwards trading at 151. 00/10 per dollar at 0524 GMT, unchanged from Monday’s close. The spot rupee was […]
Opinion: Economic Priorities in Sri Lanka’s Foreign Policy
By Deshal de Mel Context Sri Lanka is a small island economy with a population of 20.9 million and an economy of GDP US$ 82 billion (which is less than Apple’s 2015 gross profit of US$ 89 billion). Sustained growth of enterprise requires economies of scale, which in a country of Sri Lanka’s size, necessarily entails […]
Trump dumps top lawyer who defied immigration order
Jan 31, 2017 (Reuters) – U.S. President Donald Trump fired top federal government lawyer Sally Yates on Monday after she took the extraordinarily rare step of defying the White House and refused to defend new travel restrictions targeting seven Muslim-majority nations. It was another dramatic twist in the unusually raucous roll-out of Trump’s directive that […]
IIT holds big data analytics forum for IT & corporate professionals
Making decisions based on the analysis of Big Data is the secret to success of many organizations in today’s competitive business world. With the aim of providing insight into the new trends of Big Data, the Informatics Institute of Technology (IIT) recently held the Big Data Analytics Tech Forum at BMICH. Several industry leaders, senior […]
‘s Ceylon Tabacco to close two leaf depots
Jan 31, 2017 (LBO) – Sri Lanka’s Ceylon Tobacco Company PLC (CTC) announced that it will be closing its leaf depots situated in Anuradhapura and Sigiriya due to the impact of tax hikes despite an increase in profits reported last year. “It is no secret that the excise and VAT hikes in October and November […]
Global trade, China, RCEP took centre stage in Davos
Jan 31, 2016 (LBO) – Global trade took centre stage at the World Economic Forum meetings in Davos recently with signs of a new leader in town, despite U.S. assurances they wanted trade and not a trade war. With the U.S. pulling out of TPP, ASEAN’s RCEP stepped into the spotlight. Last year trade flows […]
‘s Central Bank extends Amana Bank’s deadline to raise capital
Jan 30, 2017 (LBO) – Sri Lanka’s Central Bank has extended the time allocated to raise the core capital requirement of Amana Bank to 7. 5 billion rupees by six months. The bank said in a stock exchange filing that the letter issued by the Central Bank on 15 January 2017 has extended the time […]