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PTL Watch: Treasury bond yields drop, liquidity in deficit
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Sri Lanka tea sees better demand for low growns
Jun 02, 2016 (LBO) – Sri Lanka’s tea at auction offerings saw good demand low grown with overall volumes increased, Forbes & Walker Tea Brokers said in their latest report. “Overall Auction volume increased further and totaled a 7.6M/kgs. There was fair demand mostly at easier rates,” the report said. “Overall quality of teas on offer […]
Sri Lanka’s Cargills net up 39-pct in March with improved margins
June 02, 2016 (LBO) – Profits at Sri Lanka’s Cargills group, with interests in retailing and fast moving consumer goods, rose 39 percent to 412 million rupees in the March quarter, the interim accounts showed. The group reported earnings of 1.84 rupees per share for the quarter against 1.33 rupees recorded in the previous year. […]
Neoliberalism oversold? Inequality throttles growth, say IMF economists
June 02, 2016 (LBO) – Instead of delivering growth, some neoliberal policies increase inequality which in turn jeopardize sustainable development, three IMF economists say in a recent article. Neoliberalism refers to capitalism in its purest form where privatization, deregulation, and the “freeing of the market” are keys to a flourishing economy. The senior IMF economists […]
“HA-YA-TO” a Japanese traditional Taiko drumming trio to perform “Cool Japan, Warm Sri Lanka”
“Cool Japan, Warm Sri Lanka”, a joint drumming performance by “HA-YA-TO” a popular Japanese traditional Taiko drumming trio, together with “Sri Lanka Youth Dance Troupe” of the NYSC of Sri Lanka,will be held at the NYSC, Maharagama on Sunday 12th June 2016 at 5.00 p.m. HA-YA-TO, consisting of three young brothers of the same […]
Sri Lanka seeks public opinion to improve legal trials
June 02, 2016 (LBO) – Sri Lanka’s government is currently seeking public support to reform the civil and criminal procedures in the island in a bid to avoid long delays in pending legal cases. During this month, interested parties are able to express their views particularly on reducing delay in trials and amendments for the […]
Access Engineering invests Rs800mn in property developer
June 01, 2016 (LBO) – Sri Lanka’s construction giant Access Engineering has invested 800 million rupees to buy 50 percent stake of a property developer to strengthen its presence in property development sector. Access Engineering said in a stock exchange filing that the developer, Blue Star Constructions private limited, is the beneficial owner of over […]
Restrictions on issuing passports to Sri Lankan citizens lifted: Foreign Ministry
June 01, 2016 (LBO) – Sri Lanka’s government has issued a circular ending the restrictions placed in March 2011 on the issuance of passports to Sri Lankan citizens resident abroad who, at different times, were compelled to leave Sri Lanka due to conflict or political reasons. Releasing a statement Foreign Ministry said in March 2011, […]
Federal proposal among Sri Lankan views on constitutional reform: PRC
June 01, 2016 (LBO) – Sri Lanka’s Public Representations Committee (PRC) on constitutional reforms has received various proposals from the public including proposals for a federal solution with separation of power, the committee said. The Chairman of the Committee Lal Wijenayake told reporters Wednesday that the public had different views on the nature of the […]
DFCC Bank joins CSE to open trading for June
DFCC Bank rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of June. The Bank’s Chairman Mr. Royle Jansz, CEO Mr. Arjun Fernando, Deputy CEO Mr. Lakshman Silva and Company Secretary Ms.Anomie Withana were present […]
Sri Lankan rupee forwards edge down on importer dollar demand
June 1 (Reuters) – Sri Lankan rupee forwards fell on Wednesday due to dollar demand from importers amid fears the currency could weaken further if the government increased spending to deal with the country’s worst natural disaster since 2004, dealers said. Dollar/rupee forwards, known as spot next, were at 148.30/40 per dollar compared with Tuesday’s […]
Sri Lanka to sign MoU with Singapore’s Surbana Jurong to develop Trinco
Jun 01, 2016 (LBO) – Sri Lanka’s Minister of International Trade said that Surbana Jurong, a firm specializing in urbanization and infrastructure development, will sign a memorandum of understanding with the government to develop Trincomalee. “Surbana Jurong will also be developing a Master Plan for the Trincomalee region,” Malik Samarawickreme, minister of development strategies and international […]