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‘s government: Harsha De Silva
Nov 15, 2016 (LBO) – Reconciliation is a priority for Sri Lanka’s unity government and transitional justice is an important aspect of this, Deputy Foreign Minister Harsha de Silva said. “Reconciliation is not a box that can be ticked or a journey that can end as per a timeline. There are no magic portions to […]
Asia stocks under pressure as dollar hovers near 14-year high
HONG KONG, Nov 15 (Reuters) – The U.S. dollar hovered near on a 14-year high on Tuesday and Treasury yields extended their rise as investors braced for higher inflation in the United States amid expectations of fiscally expansionary polices under Donald Trump’s presidency. The combination of the two have derailed Asian currencies and equities, […]
Sri Lanka foreign reserves drop by USD395mn in Oct: Central Bank
Nov 11, 2016 (LBO) – Sri Lanka’s official reserves dropped 394.6 million US dollars to 6.1 billion dollars in October, down from 6.5 billion dollars at the end of September, official Central Bank data showed. Foreign currency reserves were 5.1 billion US dollars and reserves in Gold were 0.91 billion US dollars. Central Bank has […]
Sri Lanka to introduce new law protecting foreign reserves
Nov 11, 2016 (LBO) – Sri Lanka has proposed to introduce a new Foreign Exchange Act to protect foreign reserves from irregular transactions. Finance Minister Ravi Karunanayake told Parliament yesterday that the current Exchange Control Act will be repealed for this purpose. An Investment Inflow Management Act will be introduced to facilitate the inward remittance […]
PUCSL gets US support to review electricity generation planning
Public Utilities Commission of Sri Lanka kicks off the three day peers review workshop on Sri Lanka’s electricity generation planning, which is the first in a new bilateral partnership between the National Association of regulatory Utility Commissioners (NARUC) and the Public Utilities Commission of Sri Lanka (PUCSL), sponsored by the Bureau of Energy Resources of […]
Sri Lankan rupee weaker as regional currencies drop
Nov 11, 2016 (Reuters) – The Sri Lankan rupee edged down on Friday, in line with a selloff in emerging market currencies, as investors feared higher U.S. interest rates under incoming President Donald Trump will spark capital outflows from those markets. The weakness in the rupee followed Sri Lanka’s budget proposals on Thursday to revise […]
Education a priority, free tablets for students: Budget
Nov 11, 2016 (LBO) – Sri Lanka will prioritize education and give free tablet computers to students and teachers in 2017, the government said in budget proposals for next year. Almost 175,000 A Level students and 28,000 teachers will receive tablet computers in 2017, for which five billion rupees has been allocated. Sri Lanka has […]
Sri Lanka property restrictions on foreigners relaxed: Budget
Nov 11, 2016 (LBO) – The Finance Minister in Budget 2017 announced measures to relax restrictions placed on property and land with regard to foreigners, and to allow companies to lease land. “The Government would remove freehold right restrictions from the ground floor and also allow foreigners who will be purchasing condominiums to raise 40 […]