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PTL Watch: Bond yields mixed, net foreign buying
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BOE keeps benchmark rates, warns over Brexit
June 17, 2016 (LBO) – The Bank of England (BOE) left its benchmark bank rate unchanged at 0.50 percent and warned about the risks to growth and inflation from a decision to leave the European Union. The Bank has set the monetary policy to meet the 2 percent inflation target that helps to sustain growth […]
Meeting IMF criteria key to improve ratings: Fitch Ratings
June 17, 2016 (LBO) – Sri Lanka still needs to refinance close to 3 billion US dollars for the rest of 2016 and remains vulnerable to shifts in investor sentiment, Fitch Ratings said. Delivering a presentation at a forum, Associate Director of Fitch APAC Sovereigns Sagarika Chandra emphasized that progress on IMF program criteria will […]
Shooting of British MP halts Brexit debate
June 17, 2016 (LBO) – The fatal shooting on Thursday of a British Member of Parliament, Jo Cox, an advocate for the U.K. to remain in the European Union, has temporarily silenced the debate over membership in the EU. All campaigning in the referendum was suspended after the first killing of a British member of […]
UNDP and Min of National Dialogue Partner to Promote Social Inclusion and Integration
Second Language Laboratory Declared Open in Agalawatte A new language laboratory was ceremonially opened by the Hon. Minister of National Co-Existence, Dialogue and Official Languages, Hon. Mano Ganesan together with United Nations Development Programme (UNDP) at the National Institute of Language Education and Training (NILET) in Agalawatte yesterday. The opening of this second laboratory is […]
Sri Lanka’s listed Shalimar and Indo Malay to sell two estates
June 16, 2016 (LBO) – Sri Lanka’s listed Shalimar and Indo Malay have entered into a deal to sell two estates to a Malaysian company subject to certain conditions. Following the shareholder approval obtained at the EGM held last month, the directors have executed a sale and purchase agreement with Euro-Asia Brand Holding Company, a […]
Asian shares face weekly losses, sterling rebounds in Brexit turmoil
TOKYO, June 17 (Reuters) – Asian shares rose on Friday, but remained on track for weekly losses in a week dominated by fears that British voters will opt to leave the European Union in next week’s referendum. Campaigning for the upcoming vote, which overshadowed this week’s central bank meetings, was temporarily halted after a […]
Sri Lanka CDS to introduce electronic voting and IPO facility this year
June 16, 2016 (LBO) – Sri Lanka’s Central Depository Systems is looking forward to introduce a fully-fledged electronic IPO and voting system during this year. During an interview, Head of CDS, Nalin Fonseka said the E-IPO system will facilitate inward and outward payments from investors efficiently and will offer other benefits such as facilitation of […]
Classic car club of Ceylon celebrates annual members’ day
Another successful event of the Classic Car Club of Ceylon was concluded recently, under the generous Sponsorships of SML Frontier Automotive (Pvt) Limited and McLarens Lubricants Limited (Sole Distributor for ExxonMobil Lubricants in Sri Lanka), who have maintained longstanding relationship with the Club. The Annual Member’s Day, which is much looked forward to, due to […]
Harim Peiris appointed as advisor to Foreign Minister
Harim Peiris received his official letter of appointment as Advisor to the Minister of Foreign Affairs on 15 June 2016 from Minister Mangala Samaraweera. Peiris is also Sri Lanka’s Point of Contact for the Open Government Partnership (OGP). Ministry of Foreign Affairs Colombo
Megapolis Plan to be institutionalized through Parliament: Mawilmada
June 16, 2016 (LBO) – The proposed Western Region Megapolis Plan will be institutionalized through an act of Parliament, in order to make sure it remains intact as a stable ‘national policy’ said Nayana Mawilmada, Head of Investment of the 40 billion dollar Megapolis project. Mawilmada revealed this, when he addressed the Main Committee of […]
Türk Exim Bank to allocate USD350mn credit line to Sri Lanka
June 16, 2016 (LBO) – Türk Exim Bank is to allocate a credit line of 350 million US dollars to the Sri Lankan government with a view to further enhancing relations through financial cooperation. A MoU between Sri Lanka and Turkey will be signed in the near future in this regard, the Foreign Minister Mangala […]