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PTL Watch: Sri Lanka bond yields mixed on low volumes
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Sri Lanka’s Laugfs buys third LPG carrier vessel for USD2.9mn
Jan 06, 2017 (LBO) – Sri Lanka’s Laugfs Maritime Services has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for 2.875 million US dollars. The company said in a stock exchange filing that the vessel earlier named as “Lady Martine” will be renamed as “Gas Courage” under the Sri Lankan flag. Laugfs Maritime Services […]
CCC seeks business community support for CBSL independence
Jan 06, 2017 (LBO) – Sri Lanka’s leading business chamber has called on the business community to support and embrace the Central Bank’s Roadmap 2017 which announced a shift in monetary policy making towards a flexible inflation-targeting framework away from the current money supply targeting framework. The Ceylon Chamber of Commerce said the Monetary Policy […]
Sri Lanka tea auction prices up, good demand
Jan 05, 2017 (LBO) – Sri Lanka tea’s first Auction of the year concluded seeing good demand with high grown tea prices recording gains and low grown teas fluctuating, a report said. “Prices for low grown teas tend to fluctuate whilst High and Mid Grown small leaf teas made an impressive start recording significant price gains,” Forbes […]
Hambantota port proceeds to be used to pay-off higher interest loans: Ravi
Jan 05, 2017 (LBO) – Sri Lanka’s government is planning to use Hambantota port proceeds to pay off higher interest loans which have already been taken, Finance Minister Ravi Karunanayake said. Karunanayake told reporters Thursday that the expected value of 1.1 billion US dollars will be initially used to pay off the loans taken at […]
MAS opens 2nd industrial park, plans to invest USD 28mn in export oriented projects
(PRESS RELEASE) – With the beginning of the New Year, MAS Holdings makes preparations to commence operations at the MAS Fabric Park in Giriulla. This will become the second privately owned industrial park in the country, following the MAS Fabric Park in Thulhiriya. generic The former Kabool Lace Giriulla facility, which was shut down for […]
‘s main airport check-in time increases
Jan 05, 2017 (LBO) – Sri Lanka’s Bandaranaike International Airport day-time shut down for a runway repair has resulted in airport authorities increasing the reporting and check-in-time for flights to avoid delays. “This means that you need to arrive 5 hours early for any flight and not the usual 3 hours. So there will be […]
Oman Air introduces new baggage concept for 2017
Oman Air is delighted to announce the introduction of a new baggage piece concept for launch in January 2017. This change will help Oman Air to standardize and in many cases reduce the charges currently in place for additional luggage. All passengers travelling Oman Air from the launch of this new concept will receive one […]
Consultation task force on reconciliation handed over final report
The Consultation Task Force on Reconciliation Mechanisms officially handed over the Final Report and executive summary on the island-wide public consultations it carried out on the design of the Transitional Justice Mechanisms to Former President Chandrika Bandarnaike Kumarathunga on Tuesday the 3rd of January 2017 at the Presidential Secretariat. The report combines and provides a […]
Sri Lankan rupee weaker; moral suasion caps fall
Jan 05, 2017 (Reuters) – The Sri Lankan rupee traded weaker on Thursday due to dollar buying by foreign banks, but the central bank’s moral suasion prevented further decline, two days after the monetary authority’s chief signalled a change in its intervention policy to defend the currency. Central Bank Governor Indrajith Coomaraswamy said on Tuesday […]
Ten Value Addition Centres for fruits and vegetables to be built
Jan 04, 2017 (LBO) – Sri Lanka’s government is to establish ten Value Addition Centres adjacent to farms in public-private partnership with processing, packing and storing facilities. Co-cabinet spokesman Gayantha Karunathilaka told reporters Wednesday the government has taken steps to facilitate local farmers and entrepreneurs to export vegetables and fruits targeting foreign markets conforming to […]