Category:
Sri Lanka to have coordinating authority for science, technology and innovation
Jan 05, 2017 (LBO) – Sri Lanka’s Cabinet of Ministers has given the go ahead for setting up of a science, technology and innovation coordinating authority to enable better co-ordination of research and development institutions. “It will be done with the view of gaining the maximum outcome of investments made on science, technology and innovation for […]
Govt approves water and wastewater investments for Colombo
Jan 05, 2017 (LBO) – Sri Lanka’s cabinet has given the nod for a greater Colombo water and wastewater management improvement investment programme, a statement said. A contract of construction of underground reservoir in Gothatuwa with a capacity of 15000 m3, Gothatuwa pumping station and booster pump station and supply and laying of 1200 mm DI […]
Asanga Ranasinghe Appointed to LAUGFS Boards
(PRESS RELEASE) – LAUGFS Holdings, a diversified business conglomerate, announced the appointment of Asanga Ranasinghe to the Boards of LAUGFS Holdings and LAUGFS Gas PLC as Executive Director. He is also appointed as the Sector Managing Director of the Consumer and Retail cluster of LAUGFS Holdings, and further holds the position of the Group Marketing […]
Asian markets and oil up following Wall Street gains
HONG KONG, Jan 5 (Reuters) – Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve’s December meeting suggested a less hawkish stance from policymakers. Oil prices rose on expectations of drops in U.S. inventories. MSCI’s broadest index of Asia-Pacific stocks outside Japan gained 0.2 percent, on […]
Sri Lanka shares end near 9-mth low; foreign selling in Keells weighs
Jan 04, 2017 (Reuters) – Sri Lankan shares fell for a fourth straight session on Wednesday, to end at a near nine-month low, as investors sold large-cap shares on fears that continued foreign selling in John Keells Holdings could dampen market sentiment further. Foreign investors sold a net 745 million rupees ($4.98 million) worth of […]
Sri Lanka to introduce minimum criteria for tourist services
Jan 04, 2017 (LBO) – Sri Lanka’s Tourism Development Ministry is drafting minimum criteria for specified tourist services so as to have appropriate regulation in the industry. The proposed critera will apply for guest houses, independent tourist restaurants, tourist shops, Ayurvedic tourist hotels, Ayurvedic tourist health care centers, spas and wellness centers and apartment hotels. […]
Sri Lankan rupee little changed; comments by c.bank chief weigh
Jan 04, 2017 (Reuters) – The Sri Lankan rupee was steady in thin trade on Wednesday amid worries over slowing foreign fund inflows, even as the central bank chief said defending the currency using foreign exchange reserves was not sensible. Central Bank Governor Indrajith Coomaraswamy said after the markets closed on Tuesday that defending the […]
PTL Watch: Bond yields higher, CBSL holding dips
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CB Governor vows to stop wasting external reserves to defend rupee
Jan 03, 2017 (LBO) – Sri Lanka’s unsustainable practice of defending the external value of the rupee through market intervention should be stopped, the Central Bank Governor said. Presenting the Road Map for Monetary and Financial Policy for 2017, Governor Indrajit Coomaraswamy said recent experience has clearly demonstrated that it is unsustainable to maintain an […]
‘s 2017 economic growth to be 5.5-6.0 pct: Central Bank chief
Jan 03, 2017 (Reuters) – Sri Lanka economy is expected to expand between 5.5 percent and 6.0 percent in 2017, higher than last year’s estimated pace of at least 4.5 percent, central bank governor Indrajith Coomaraswamy said on Tuesday. However, there could be some downside risks facing growth this year, Coomaraswamy told a gathering in […]
Sri Lanka Foreign Reserves increase to USD6 Bln in 2016: CB
Jan 03, 2016 (LBO) – Sri Lanka’s foreign reserves were around six billion dollars at the end of 2016, up from 5. 64 billion dollars at the end of November, the Central Bank said on Tuesday. The increase was due to swap arrangements and 200 million dollars from Japan and the World Bank as budgetary […]