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Sri Lanka ministers need good vehicles to serve people: Rajitha
June 08, 2016 (LBO) – Sri Lanka’s ministers should be given proper vehicles to serve the public though there may be public resistance to tax-free vehicles, Co-Cabinet Spokesman Rajitha Senaratne said. The government yesterday presented a supplementary estimate of 1.2 billion rupees seeking Parliament approval to purchase 32 vehicles for 30 ministers, state ministers and […]
Sri Lanka approves funds for reservoirs and Southern roads
Jun 08, 2016 (LBO) – Sri Lanka’s cabinet has approved several reservoir and road development projects including the lower MalwathuOya reservoir and roads under the Southern transport projects. “The proposed lower MalwathuOya reservoir project will directly benefit people in Anuradhapura, Vavuniya, and Mannar districts and will facilitate 12,425 hectares of land under the Yoda Wewa and […]
Australian miner to drill for mineral samples in Puttalam, Sri Lanka
June 08, 2016 (LBO) – Australian miner Iluka Resources Ltd is expected to drill for mineral samples soon as it negotiates with the government for a mining license for ilmenite in Puttalam, Sri Lanka. “Iluka is currently assessing the development of a mineral sands deposit known as the Puttalam Quarry deposit. The Puttalam Quarry deposit […]
PTL Watch: Sri Lanka bond yields steady, low volumes
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Sunrise Engineering to power Sri Lanka with “Veefil”
Re-charging electric vehicle in 20 minutes is now possible Sunrise Engineering signed an exclusive distributor agreement with Tritium, the Australian designer and manufacturer of the “Veefil”, the world’s most technologically-advanced rapid charger for electric vehicles.. This partnership comes at a very crucial time where the absence of rapid charging infrastructure is deeply felt in the […]
Sri Lanka to issue certificates of absence for missing persons
Jun 08, 2016 (LBO) – The Cabinet of Ministers approved draft legislation enabling the issuance of Certificates of Absence enabling family of missing to address practical issues relating to their disappearance. The draft legislation which involves an amendment to the Registration of Deaths (Temporary Provisions) Act, No. 19 of 2010 will now be gazetted and the […]
World Bank downgrades 2016 global growth to 2.4-pct
June 08, 2016 (LBO) – The World Bank is downgrading its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January, a statement said. “The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows,” the bank said issuing a […]
‘s longest Rajagiriya overhead bridge work commences
June 08, 2016 (LBO) – Construction work on Sri Lanka’s Rajagiriya overhead bridge was inaugurated on Monday by Harsha de Silva, the deputy minister of foreign affairs, and Lakshman Kiriella, minister of higher education and highways. The 534-metre long, four-lane bridge will be the longest in the country, and the first phase of the project […]
Asian shares at near six week high on oil, Fed expectations
June 8 (Reuters) – Asian shares held near six-week highs on Wednesday, on a brightening outlook in the energy sector and hopes that the U.S. Federal Reserve will not raise interest rates in the coming months after a disappointingly weak U.S. jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat after hitting […]
Sri Lanka exports, imports decline; trade gap shrinks in February
June 07, 2016 (LBO) – Sri Lanka’s exports fell 1.7 percent to 887.7 million US dollars in February, while imports fell at a faster 5.9 percent to 1,439.3 million US dollars from a year earlier, official data showed. The trade gap has shrank 11.9 percent to 551.7 million US dollars from a year earlier. On […]
Renewed boost for accounting profession as CA Sri Lanka, CIMA teams up
Two of the country’s accounting giants, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Institute of Management Accountants (CIMA) will team up in an effort to develop the accounting profession which will also benefit the members of both institutes. Andrew Harding, Managing Director of CIMA, and Aruna Alwis, Chief […]
Sri Lanka eyes 10 to 20 year sovereign bond issue
June 07, 2016 (LBO) – Finance Minister Ravi Karunanayake told reporters today that the government is looking at a sovereign bond issue with a tenor of 10 to 20 years. Without revealing particulars, Finance Minister said the exact information on the bond issue will be announced in the coming days. Karunanayake also revealed that the […]