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Sri Lanka seals USD100mn credit from World Bank for economic reforms
Sep 05, 2016 (LBO) – Sri Lanka signed a 100 million US dollar credit from the International Development Association (IDA), an arm of the World Bank, today to support economic reforms in the island. “This program will support the Sri Lankan Government’s commitment to unleash the potential of Sri Lankan enterprises to grow, become more […]
Sri Lanka exports fell 5-pct in June, trade gap widens 6-pct
Sept 05, 2016 (LBO) – Sri Lanka’s exports fell 5.0 percent to 897 million US dollars in June 2016, while imports dropped a slower 0.2 percent to 1,676 million US dollars from a year earlier, official data showed. The trade gap further widened 6.0 percent to 779 million US dollars from a year earlier due to […]
‘s exports to Sri Lanka up 44-pct in 1H 2016
Malaysia’s exports to Sri Lanka jumped 44 per cent to RM414.05 million in the first half of the year, up from RM286.23 million in the same period last year. Plantation Industries and Commodities Minister (Malaysia) Datuk Seri Mah Siew Keong said the increase was largely contributed by palm oil products valued at RM267.71 million, as […]
Sri Lankan rupee edges up as dollar sales surpass importer demand
Sept 05, 2016 (Reuters) – The Sri Lankan rupee was marginally higher on Monday, supported by exporter dollar sales and on lack of importer demand for the greenback, dealers said. The spot rupee was at 145.45/50 per dollar at 0553 GMT, slightly firmer from Friday’s close of 145.48/53, while one-week rupee forwards were at 145.60/65, […]
Sri Lanka to remove barriers for entrepot trade: Finance Minister
Sept 05, 2016 (LBO) – Sri Lanka’s Finance Minister says the government expects more foreign investment that would promote export oriented business inclusive of entrepot trade. Speaking at the ninth session of the Ease of Doing Business forum, Minister Ravi Karunanayake said Sri Lanka wants foreign debt to be replaced by investment which is the […]
‘s industrial production shows growth in May, June
Sept 05, 2016 (LBO) – Sri Lanka’s index of industrial production showed a pick up in May and June, the Department for Census and Statistics said, in its tentative release of the index on a quarterly basis. “The Index of Industrial Production (IIP) … can be used to identify the turning points in economic development […]
Ban Ki-moon sees development, commends steps towards reconciliation
Sept 05, 2016 (LBO) – UN Secretary General Ban Ki-moon said he had seen economic development in the island since his last visit in 2009, and commended steps taken by the government to promote reconciliation. “I visited the North of the country Jaffna, today, and saw an enormous contrast with my experience there in 2009. […]
Sri Lankan High Commissioner in Malaysia beaten up at airport
Sept 05, 2016 (LBO) – The Sri Lankan High Commissioner in Malaysia, Ibrahim Sahib Ansar, was beaten up by a group of LTTE supporters at the Kuala Lumpur airport after he refused to divulge the whereabouts of former Sri Lankan President Mahinda Rajapaksa who is on a visit to Malaysia, media reports said. According to […]
CDS celebrates 25 years in Sri Lankan capital market
Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), celebrates 25 years in the Sri Lankan Capital Market today. The CDS was established by the CSE in 1991, marking a historic breakthrough in clearing and settlement in Sri Lanka. The milestone was celebrated at a market opening ceremony […]
Indian Ocean Region, significant playing field for big powers: PM
Sept 02, 2016 (LBO) – Sri Lanka’s Prime Minister says the Indian Ocean region has always been a significant playing field for big powers and historically it has also been a bridge between the East and West. Speaking at the Indian Ocean Conference Prime Minister Ranil Wickremesinghe said the wealth and technology gap between the […]
NDB opens trading for September at Colombo Stock Exchange
National Development Bank PLC (NDB) rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) for the month of September and recognized the capital market as a key contributor to the growth of the Bank over the years. Director/Chief Executive Officer of NDB Mr. Rajendra Theagarajah stated “NDB is a classic example […]
UNSG meets President, Speaker of Parliament and political party leaders
The President, the Speaker of the Parliament and other leaders of political parties met with the visiting United Nations Secretary General Ban Ki-moon in Colombo.