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The all new Volvo XC90model secures over 120 awards globally
Volvo cars, the world renowned Scandinavian car brand announced that it had won more than 130 international awards during the year 2015 and 2016 for the sophisticated new look of the Volvo range, its world-leading innovation and engineering excellence. The all new Volvo XC90 in particular proved to be a strong competitor in the […]
Japan pledges Rs305mn grant aid for Sri Lanka’s HRD scholarships in 2016
The Government of Japan has selected the 3rd batch of 15 prospective scholars under its Second Phase of Japanese Grant Aid for Human Resources Development Scholarship (JDS) Program – 2016 which commenced in September 2014, based on the official agreement with the Government of Sri Lanka. This year the Government of Japan pledges a grant […]
Motor car registrations down sharply from Sept peak: JB Securities
July 05, 2016 (LBO) – Motor car registrations in Sri Lanka recorded 3,657 units in May, slightly down from 3,664 units in April, but significantly lower than a peak 14,544 registrations last September, data from JB Securities shows Premium cars, three wheelers, two wheelers and mini trucks, however, showed an increase in May over April. […]
Opinion: Is it time to close the Dehiwela Zoo?
Jul 05, 2016 (LBO) – I long for a Sri Lanka where our animals enjoy the same freedom and protection from fear and harm as people do, and are respected and revered. Over the years, concerned citizens of Sri Lanka, organizations, visitors to the Zoo, and the media have highlighted issues of suffering and inadequate […]
Asian shares slide as investors ponder stimulus outlook
July 5 (Reuters) – Asian shares snapped a five-day winning streak on Tuesday as investors took stock of a rally driven by hopes that central banks will provide more stimulus to offset a likely downturn triggered by Brexit. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7 percent, but was still within reach of […]
Asia shares fall, bonds surge as Brexit fears resurface
July 6 (Reuters) – Asian share markets turned tail on Wednesday as fears over instability in the European Union returned with a vengeance, sending the pound to three-decade lows and hammering risk assets of all stripes. Concerns about the impact on already fragile global growth spread to commodity markets where oil prices were buckling […]
Sri Lanka tourist arrivals up 2.2-pct in June 2016
Jul 05, 2016 (LBO) – Sri Lanka’s tourist arrivals grew just 2.2 percent to 118,038 in June 2016 from a year earlier, with arrivals from India and China continuing their upward trend, government data showed on Monday. In the six months to June total tourist arrivals grew 16.2 percent to 964,267. Total arrivals hit a high […]
Consumer authority conducts over 10,000 raids, collects Rs48mn fines
July 04, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority has conducted more than 10,000 raids in the first half of this year, latest data showed. As per the data submitted by Ministry of Industry and Commerce for July 2016, the authority has conducted 10,146 raids from January to June this year showing a marginal decline […]
Opinion: Key success factors of adopting Electronic Payments
By Channa de Silva If a country is to achieve the vision of financial inclusivity, such is the case in Sri Lanka, establishment and adoption of electronic modes of payment is of paramount importance. Financial inclusivity is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of the society, as […]
Dr Indrajit Coomaraswamy assumes office as Central Bank Governor
Dr Indrajit Coomaraswamy was appointed as the Governor of the Central Bank of Sri Lanka by the President of the Democratic Socialist Republic of Sri Lanka Maithripala Sirisena, according to the provisions of the Monetary Law Act No.58 of 1949. Accordingly, Dr. Coomaraswamy will function as the Chairman of the Monetary Board of the Central […]
PTL Watch: Yields tick higher, some foreign buying
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New Central Bank Governor says upholding institution his primary duty
July 04, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Dr. Indrajit Coomaraswamy says upholding the reputation and credibility of the institution will be his primary responsibility. He said this giving an inaugural address to the staff of the Central Bank. “The Central Bank of Sri Lanka is one of the great institutions […]