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Sri Lanka to build LNG power plant in Kerawalapitiya: Power Ministry
May 06, 2016 (LBO) – Sri Lanka will build a new 300MW Liquefied Natural Gas (LNG) power plant in Kerawalapitiya adjoining the existing power plant there, the Ministry of Power and Renewable Energy said. “The plant will be built on a 10 acre land in Kerawalapitiya utilizing LNG which minimizes environmental pollution,” the ministry said […]
Sri Lanka wants LNG-driven power, to shift away from coal: Govt official
May 06, 2016 (LBO) – Sri Lanka wants more power generation from Liquefied Natural Gas (LNG), because natural gas is attractively priced in international markets, and will rely less on coal, a government official said. “It is a very compelling case to start gasifying Sri Lanka using, initially, imported LNG, and then at some point […]
Sri Lanka seeks FTAs with Singapore, Malayasia and Turkey
May 06, 2016 (LBO) – Sri Lanka is exploring free trade agreements with Singapore, Malaysia and Turkey, a minister said. ““Countries like Sri Lanka need to thrive on the export of products and services on the way to create vibrant economies,” Malik Samarawickrama, minister of development strategies and international trade, said. “We are now on […]
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May 05, 2016 (LBO) – With slower growth in the next few years and signs of financial stress for some state-owned enterprises, achieving significant fiscal consolidation will be challenging, Moody’s said in a statement. The IMF mission chief mentioned a targeted deficit at 3.5 percent of GDP in 2020. The full text of the statement […]
Jetwing Lighthouse to build new hotel at Unawatuna for Rs350mn
May 05, 2016 (LBO) – Sri Lanka’s hotels and travel sector front runner Lighthouse Hotel has decided to construct a new hotel through incorporation of a fully owned subsidiary. The company said in a stock exchange filing that the Board of Directors has approved a proposal to build the hotel with 36 rooms at Unawatuna area for […]
Inland Revenue Act to be redrafted with international standards
May 05, 2016 (LBO) – The Cabinet of Ministers have approved a proposal made by Finance Minister Ravi Karunanayake to instruct the Legal Draftsman to redraft the Inland Revenue Act according to international standards improving clarity and transparency. The Inland Revenue Act No 10 of 2016 provides legal provisions to impose income tax in Sri […]
PTL Watch: Some profit taking in Sri Lanka bonds
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CSE, CFA rings opening bell to support ‘Putting Investors First Month’
The Colombo Stock Exchange (CSE) and the CFA Society Sri Lanka jointly held a special market opening ceremony yesterday in support of the “Putting Investors First Month” campaign, as a to call attention to the needs and rights of investors. The Putting Investors First Month is a month-long global initiative focused on promoting the needs […]
Trinco to be developed as agri and energy hub
May 05, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve a planning review to be done to develop Trincomalee and surrounding cities in the islands east. ”The Trincomalee area has been identified as major zone that could be developed as agricultural and energy hubs under the development program of the present government,” a statement […]
‘s Central Bank appoints new Assistant Governors
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‘s high credit growth to private sector plateauing: Governor
May 05, 2016 (LBO) – Credit growth to Sri Lanka’s private sector by commercial banks is a key variable followed in determining monetary policy. This number has been running high in recent months, rising to 26.5 percent in February, compared with 25.7 percent in January on a year-on-year basis, although the figure is down from […]
Guardian Capital Partners to invest in private equity projects in Sri Lanka
May 04, 2016 (LBO) – Guardian Capital Partners, a part of the listed Ceylon Guardian Investment Trust Group has entered into a joint venture agreement with Small Enterprise Assistance Funds (SEAF) in US to carry on a fund management business to manage and invest in private equity projects in Sri Lanka. The company said in […]