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Fewer people living below poverty line: World Bank president
NEW YORK (Thomson Reuters Foundation) – The number of people living in extreme poverty has declined by more than 100 million across the world despite a sluggish global economy, the World Bank said on Sunday. The World Bank said 767 million people were living on less than .90 a day in 2013, its latest comprehensive […]
Nepal regrets SAARC postponement due to Indo-Pak tensions
Oct 03, 2016 (LBO) – Nepal, the current chair of SAARC, has expressed regret that the regional environment is not conducive to host the 19th SAARC Summit in Islamabad in November. “Nepal will initiate necessary consultation on successfully holding the summit with the participation of all member states, the country’s foreign ministry said. The announcement […]
Sri Lanka marks ‘National Coastal and Marine Resources Conservation Week’
The United Nation Development Programme (UNDP) in collaboration with the Ministry of Mahaweli Development & Environment marked the ‘National Coastal and Marine Resources Conservation Week’ through a Coastal Cleanup Programme held from 17 September to 23 September 2016, covering approximately 1700 km of the coastal line across 14 Districts of Sri Lanka. Under the directive […]
Asia stocks start Q4 with gains, sterling stumbles
SYDNEY, Oct 3 (Reuters) – Asian shares got the new quarter off to a firm start on Monday, while sterling tumbled as Britain set a March deadline to start divorce proceedings from the European Union. Risk sentiment had benefited on Friday from reports Deutsche Bank was negotiating a much smaller fine with the U.S. Department […]
SriLankan Airlines renegotiates A350 contracts: report
Oct 03, 2016 (LBO) – National carrier SriLankan Airlines has re-negotiated the termination of three A350 Airbus lease contracts with airline leasing company AerCap, a media report said. The company has agreed to reduce the termination fee to 98 million dollars from 154 million dollars, a Sri Lankan Airlines official told the Sunday Times on […]
PTL Watch: Yields decline after auction, longer-end down sharply
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US Embassy launches new website for Sri Lanka
The Embassy of the United States in Sri Lanka launched its new website (lk.usembassy.gov) yesterday, featuring a more mobile-friendly layout, with easy-to-access and more locally-relevant news and information. The new homepage will allow users to quickly find answers to visa questions, U.S. citizen services, job opportunities, and business opportunities, as well as latest Embassy-related news […]
Sri Lankan rupee edges up as tight liquidity prompts dollar sales
Sept 30, 2016 (Reuters) – The Sri Lankan rupee traded slightly firmer on Friday, after four straight sessions of losses, as tight rupee liquidity triggered dollar sales by some banks, dealers said. The spot rupee was at 146.75/90 per dollar at 0556 GMT, compared with Thursday’s close of 146.90/147.00. The rupee has fallen 0.58 percent […]
Sri Lanka Tourism celebrates World Tourism Day
Sri Lanka Tourism celebrated World Tourism Day on September 27th, 2016 focusing on the UNWTO’s theme for this year, “Tourism for all – Promoting Universal Accessibility.” The official celebration was held at the auditorium of the Sri Lanka Institute of Tourism and Hotel Management with the participation of all tourism industry stake holders. The day’s […]
Real estate sector, preferred investment avenue for Sri Lankans: Survey
A recent survey conducted by LankaPropertyWeb and the Real-estate Intelligence Unit (RIU) indicates that the majority of Sri Lankans prefer to invest in Real Estate, as opposed to the stock market or bank savings. In one of the most detailed ground surveys carried out about the Sri Lankan Real Estate Sector, 44.1% of respondents said […]
Sri Lanka adds more taxes for smokers
Sep 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved a 15 percent Value Added Tax (VAT) and 5.00 rupees production tax on cigarettes as well as an increase of cess on the import of “beedi” leaves, a statement said. “Cabinet has decided to impose 15 percent VAT on cigarettes again, increase the current production […]
‘s ministries should be aligned to be more effective
Sep 30, 2016 (LBO) – Sri Lanka’s budget allocations for national road development are high, but it needs to be attuned to needs, and ministries should be properly allocated, a senior official said. “The problem is that we have fragmented systems, especially transport and highways are two different ministries so it is very difficult for […]