Category:
ADB, Sri Lanka sign USD2mn grant for flood and landslide relief
Jun 13, 2016 (LBO) – The Asian Development Bank (ADB) said they would grant US 2 million dollars to finance relief efforts in the country following the recent floods and landslides which claimed around 100 lives and damaged the homes and livelihoods of thousands more. “Considering the scope of the damage in Sri Lanka and […]
PTL Watch: Yields tick higher, foreign holding up
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/06/PTL-Daily-Market-Report-13th-June-20161.pdf”]
British High Commissioner discusses constitutional change with Wigneswaran
British High Commissioner to Sri Lanka H.E James Dauris visited the North and East last week. He heard about progress and challenges facing communities in these areas. He met a range of politicians, government officials, religious leaders, civil society organisations, business leaders, resettled communities and journalists. During his visit to the East he met with […]
People’s Bank unveils solar power loan scheme
June 13, 2016 (LBO) People’s Bank has launched a solar power loan scheme to promote the use of solar energy as part of its drive towards being a carbon conscious bank. Launched on World Environment Day which falls on 5th June 2016, People’s Bank now offers loans to customers who would like to install solar […]
Foreign Employment Bureau collects Rs56mn from illegal job agencies
June 13, 2016 (LBO) – Sri Lanka Bureau of Foreign Employment has conducted 56 raids during the first five months of this year and collected 56 million rupees illegally collected by job agencies. The cash collected through these investigations have already handed over to the respective individuals who have paid for agencies for different activities. […]
Russia cuts base rates by 50bps for first time in 12 months
June 13, 2016 (LBO) – Russia’s central bank has decided to cut the base rate by 50 basis points to 10.50 percent, the first rate cut since July last year, taking into account the positive trends in inflation. Releasing a statement, the Board of Directors of Bank of Russia noted the positive trends of more […]
Turkey Foreign Minister to visit Sri Lanka tomorrow
Foreign Affairs Minister of the Republic of Turkey will pay an official visit to Sri Lanka between 14th and 15th June 2016. The Minister will be received by President Maithripala Sirisena, Prime Minister Ranil Wickremasinghe and the Speaker of Parliament Karu Jayasuriya. He will also hold bilateral talks with the Foreign Minister Mangala Samaraweera and […]
‘s senior debt BBB+(lka)(EXP)
Fitch Ratings has assigned Senkadagala Finance PLC’s (SFC: BBB+(lka)/Stable) proposed issue of senior unsecured redeemable debentures of up to LKR2bn an expected National Long-Term rating of ‘BBB+(lka)(EXP)’. The debentures will have tenors of two to four years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange and […]
Bitcoin hits 2-year high, now 684.78 on Chinese buying
June 13, 2016 (LBO) – A sudden burst of buying pressure in Bitcoin, driven by Chinese buyers, has spiked the virtual currency higher to 684.78 dollars on heavy volumes. Bitcoin is trading at its highest level since May 2014, and “up 250 percent since we first suggested this an outlet for desperate-to-leave capital outflows in […]
IFC looks to fund Sri Lanka infrastructure, tourism and energy
Jun 13, 2016 (LBO) – The International Finance Corporation, a part of the World Bank group, said they are focusing on financing financially viable projects in Sri Lanka, and highlighted potential areas such as infrastructure, tourism, agribusiness, energy and also finance. “The project IFC gets involved should be viable and also should have a development […]
Ford partners and JEN to support 50 families in Kilinochchi
Ford Motor Company, represented in Sri Lanka by Future Automobiles, a subsidiary of Softlogic Holdings, has awarded a grant to JEN (Japan Emergency NGO) to carry out an agricultural livelihood project in Kilinochchi. Utilising the funding from Ford, JEN will be able to assist people who have returned from displacement regain their livelihood through agriculture. […]
DIMO appoints 4 new directors to the Board
Diesel & Motor Engineering PLC (DIMO) recently appointed four new directors to its Board effective from 1st June 2016. The new directors are Mr Asite Talwatte, Mr Vijitha Bandara, Mr Wijith Pushpawela and Mr Chaminda Ranawana. Mr Asite Talwatte is the former Country Managing Partner at Ernst & Young, a position in which he served […]