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‘s EZY Racing to Podium in New Zealand
14 minute penalty deprives maiden win for Sri Lankan team Press Release: Whangarei, New Zealand — EZY Racing’s Mike Young, the youngest driver in the FIA Asia Pacific Rally Championship (APRC), made a strong come back after being classified last on day one to finish third overall at the first round of the championship held […]
US, Sri Lanka adopts Joint Action Plan to boost bilateral trade in 5 yrs
May 02, 2016 (LBO) – The United States and Sri Lanka have recently adopted a five-year Joint Action Plan to boost Trade and Investment in the two countries. At the 12th US, Sri Lanka Trade and Investment Framework Council meeting which was held April 28 in Washington, DC, both sides have affirmed their belief that […]
‘s foreign debt servicing rises steadily
May 01, 2016 (LBO) – The amount Sri Lanka has spent on external debt repayment and interest has more than doubled over the last five years, Central Bank data shows. Earnings from exports, however, have not grown as much. Debt service payments increased to 4.7 billion dollars in 2015 from 1.8 billion dollars in 2011, […]
Colombo inflation accelerates 3.1-pct in April 2016
Apr 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 3.1 percent in April 2016 from a year earlier, up from 2.0 percent in March 2016 with the inflation index gaining 1.3 percent in the month, the state statistics office said. The Year on Year inflation of Food Group has increased […]
Interview: Across distant seas, Sri Lankans, Swedes explore cultural differences
Apr 29, 2016 (LBO) – Sweden, a land of the ancient Vikings, perched in icy northern seas, is as far away from the tropical island of Sri Lanka as one can imagine. One would expect cultural differences when modern investors cross the oceans in search of trade and opportunities, and reach Sri Lanka — a […]
PTL Watch: Sri Lanka bond yields drop on IMF news
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Sri Lanka’s deal with IMF has 3 benefits for external financing profile: Moody’s
Apr 29, 2016 (LBO) – Sri Lanka’s 1.5 billion US dollars deal announced today with the IMF will have three benefits for Sri Lanka’s external financing profile, issuing a statement Moody’s Investors Service said.Marie Diron, Senior Vice President, Sovereign Risk Group, Moody’s Investors Service, and the lead sovereign analyst for Sri Lanka highlighted the three points as […]
Sri Lanka reaches USD1.5Bln support deal with IMF
Apr 29, 2016 (LBO) – Sri Lanka has reached a technical agreement with the International Monetary Fund for 1.5 billion dollars, a statement said. The loan program will need approval by the IMF’s executive board, which is due to consider it in early June. Once approved it is “expected to catalyze an additional 650 million […]