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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 […]
Commercial Bank begins new series of entrepreneurship programmes for women
The Commercial Bank of Ceylon recently conducted the first of a series of entrepreneur development programmes exclusively for women, in recognition of their importance to the national economy. The programme conducted in Matara in collaboration with the National Enterprises Development Authority (NEDA) was attended by more than 100 women entrepreneurs who are involved in micro, […]
ODEL launches LUV Sigiriya campaign to protect historic site
ODEL clean up team hauls down 40 sacks of rubbish from Lion Rockon World Environment Day Callous visitors defile the historic Sigiriya rock with 40 sack loads of rubbish each day, an alarming fact brought vividly alive by employees of ODEL who undertook to clean up the site to mark World Environment Day this year. […]
Sri Lankan rupee trades steady; seen rising on IMF loan, inflows
June 7 (Reuters) – The Sri Lankan rupee traded steady on Tuesday as dollar conversions by exporters were offset by dollar demand by importers even as hopes rose the currency would go up slightly after the IMF approved a $1.5 billion loan, dealers said. The IMF executive board approved the three-year loan over the weekend, […]
Opinion: Could debt forgiveness be interim solution for economic malaise?
By Steve Brice There is a growing perception that monetary policy is losing its power to solve the world’s economic problems. This may be misleading. What is probably true is that incremental policy easing is experiencing diminishing – and, possibly, negative – returns. Therefore, central banks – and governments – may need to get even […]
Sri Lanka tourist arrivals up 10 pct in May, Europe leads
June 07, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 10 percent in May to 125,044 visitors compared with the same month last year, official data showed. Arrivals during the first five months of the year were up 18.4 percent to 846,229 visitors, compared with the same period last year. April, May and June […]
Blog: Integrating social media into marketing strategy
By Dinesh Jebamani Evolution of Social media and growth in mobile internet has resulted in the need for marketing strategies to change. The images below shows the growth of social media channels and messaging apps, and the huge potential to reach your target audience, create brand awareness, engage and generate leads for conversion. If you […]