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2017 will be decisive for Sri Lanka: Mahinda Rajapaksa
2017 will be the year in which the future of Sri Lanka will be decided. The government’s devolution package to divide the country into what they call ‘distinct spheres of authority’, the ETCA with India to open up Sri Lanka to Indian service providers and workers, the privatisation of the Hambantota harbour and other government […]
Sri Lankan rupee falls ahead of c.bank decision on policy rates
Dec 30, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Friday due to unusual year-end dollar demand from importers and ahead of an announcement on monetary policy by the central bank later in the day, dealers said. Sri Lanka’s central bank is most likely to keep its key interest rates steady on Friday, […]
Group of Sri Lankans in UK protest against proposed constitution
A demonstration was held on the 16th of December, biting cold and freezing weather outside the Sri Lankan High Commission in UK by a group of Sri Lankans vehemently protesting against the proposed ‘federal’ constitution. The group complained that as per the wishes of the TNA and the countries like US, UK, EU and Canada, […]
Sri Lanka’s business leaders meet Finance Minister Ravi Karunanayake
Dec 30, 2016 (LBO) – Sri Lankan business personalities met Finance Minister Ravi Karunanayake at an intimate dinner event in Colombo recently organized by the Horton Debate Society. Minister Karunanayake explained the economic policies of the government, at the post-budget event, while members of the networking group were able to discuss some of the proposals […]
‘s share of Chinese FDI going into Asia low: policy paper
Dec 30, 2016 (LBO) – Sri Lanka, which runs a trade deficit with China, should aim to increase the island’s share of Chinese FDI going into Asia, a policy paper by the Lakshaman Kadirgamar Institute says. The paper argues that Sri Lanka’s relatively low rank among China’s economic partners challenges some claims about China’s contributions […]
‘s Mahinda Rajapaksa opposes land for Chinese investment
Dec 29, 2016 (Reuters) – Sri Lanka’s former leader Mahinda Rajapaksa on Thursday criticised a government plan to grant 15,000 acres for Chinese investment in his constituency, saying it will deprive people of agricultural land. Rajapaksa, chided by the West and India for his close relations with China during his rule, is now agitating against […]
Sri Lankan shares hit more than 1-wk closing high; PABC boosts turnover
Dec 29, 2016 (Reuters) – Sri Lankan shares touched a more than one-week closing high on Thursday led by financials, with shares of Pan Asia Banking Corporation Plc accounting for 85 percent of the day’s turnover. The Colombo stock index finished 0.28 percent higher at 6,245.71, moving away from its lowest close since April 6 […]
Sri Lankan rupee ends steady amid moral suasion
Dec 29, 2016 (Reuters) – The Sri Lankan rupee closed steady on Thursday as light importer dollar demand was met by exporter selling and moral suasion by the central bank boosted sentiment, dealers said. They said the local currency might weaken in January after the central bank’s comment on Friday that the rupee’s depreciation was […]
PTL Watch: Range-bound trading in Sri Lanka bonds
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Sri Lanka Melstacorp share trading commences from tomorrow
Dec 29, 2016 (LBO) – Sri Lanka’s newly formed Melstacorp, the holding company of Distilleries, said its shares will commence trading on the Colombo Stock Exchange from tomorrow. In a stock exchange filing, the company said these shares will be classified under the ‘Diversified Holdings’ sector. A total of 1,165,397,072 ordinary voting shares are to […]
No disruption to service despite damage to one aircraft: Cinnamon Air
Cinnamon Air advises that one of its aircraft suffered damage to one of its amphibious floats whilst on the water at the Polgolla Reservoir in Kandy, on 22nd December 2016. The aircraft had landed and was taxiing to the dock at the reservoir when it encountered a submerged tree trunk which damaged one float. There […]
Central Bank invites proposals for USD1bn 3-year foreign financing facility
Dec 28, 2016 (LBO) – Sri Lanka’s Central Bank today said the government intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in USD up to a limit of 1 billion dollars in 2017. The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD […]