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Clinton pressured IMF to not give loans to Sri Lanka: Min Amunugama
Dec 07, 2016 (LBO) – Sri Lanka’s Special Assignments Minister Sarath Amunugama today revealed that Hillary Clinton forced IMF not to approve a loan facility to Sri Lanka when she was working as the US secretary of state. Minister Amunugama told Parliament today that the defeat of Hillary Clinton at the recent Presidential Election should […]
World Bank to strengthen Sri Lanka’s social safety net
Dec 07, 2016 (LBO) – The World Bank Board has approved a US 75 million dollar credit from the International Development Association (IDA) to support Sri Lanka’s main welfare programs to develop an integrated system by better managing the selection, administration, and payments to beneficiaries. The project will contribute to improving the equity, efficiency and transparency […]
Solar can already generate more energy than oil: study
by Nafeez Ahmed While the world has been going crazy, solar has quietly tipped over the edge and kicked oil and gas off the cliff of history. A new scientific review finds that scientists are dramatically underestimating the efficiency and power of solar panels, because their data is at least seven years old. And that’s […]
Sri Lanka joins Saudi Horeca Exhibition to promote ‘Pure Ceylon Tea’
The Sri Lanka Tea Board and the Embassy of Sri Lanka in Riyadh joined hands with the private sector tea trade in Sri Lanka to promote ‘Pure Ceylon Tea’ in the largest Gulf market of Saudi Arabia. While a half-day session was organized for the interested buyers from Saudi to net – work effectively with […]
‘s education survey
Dec 07, 2016 (LBO) – Singapore has outperformed the rest of the world in the OECD’s latest Programme for International Student Assessment (PISA) survey, which evaluates the quality, equity and efficiency of school systems. The top OECD countries were Japan, Estonia, Finland and Canada. The OECD’s PISA 2015 tested around 540,000 15-year-old students in 72 […]
Sri Lanka tea up for third consecutive month in Nov
Dec 07, 2016 (LBO) – Sri Lanka’s tea auction average for the month of November showed gains with prices up 168.82 rupees to 581.33 rupees against 412.51 rupees in the period last year. “It is also noteworthy that this is the highest ever average for a calendar month improving on the previous best achieved during the […]
Fitch rates Bank of Ceylon subordinated debt final AA(lka)
Fitch Ratings Lanka has assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) proposed Basel II-compliant subordinated debentures of up to LKR8bn a final National Long-Term Rating of ‘AA(lka)’. The final rating is the same as the expected rating assigned on 25 October 2016, and follows the receipt of documents conforming to information already received. The proposed issuance, […]
Thailand to launch stock exchange for startups
Dec 06, 2016 (LBO) – Thailand is launching a new stock exchange that caters to startups, according to a report by the Nikkei Asian Review. Companies could list on the very day they are established, even without any record of earnings, Kesara Manchusree, president of the Stock Exchange of Thailand (SET) said. For most startups, […]
UNDP launches year-long campaign to mark its 50 Year journey in Sri Lanka
2016 marks an important year for the United Nations Development Programme as it marks fifty years of UNDP working on the global frontlines of development, advocating for change and connecting countries to the knowledge, experience, and resources needed to help people build better lives. The world has changed immeasurably over the years, and UNDP has […]
Ceylinco Life’s income tops Rs 17 billion in nine months
Dec 06, 2016 (LBO) – Ceylinco Life has reported total income of 17.165 billion rupees for the nine months ending 30th September 2016, reflecting growth of 15.3 per cent over the corresponding period of last year. Premium income for the nine months improved by 11 per cent to 11 billion rupees, while investment and other […]
Lanka Sugar posts Rs.1 bn profit
(PRESS RELEASE) – The state owned entity Lanka Sugar, which previously reported heavy losses, has reported a profit of one billion rupees by third quarter of 2016 in comparison to the loss one billion rupees in 2015. Upto third quarter (3Q) of 2016, Lanka Sugar’s Pelwatte and Sevanagala facilities cultivated 13164 hectares of sugar canes (an […]
PTL Watch: Bond yields flat, some foreign selling
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