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Two UN Special Rapporteurs to undertake Joint visit to Sri Lanka
The Special Rapporteur on the independence of judges and lawyers, Mónica Pinto, and the Special Rapporteur on torture and other cruel, inhuman or degrading treatment or punishment, Juan E. Méndez, will undertake a joint visit to Sri Lanka from 29 April to 7 May 2016, at the invitation of the Government. While the previous UN […]
Kia’s 4th generation Sportage unveiled in Colombo
The fourth generation Kia Sportage, the Korean car maker’s game-changing urban SUV, was unveiled at an exclusive media preview in Colombo, heralding its head-turning arrival on Sri Lankan roads. Among the most instantly recognised SUVs in the market as a result of its distinctive lines, the Kia Sportage delivers even greater automotive aesthetics and an […]
‘t allow Sri Lanka to be divided
Apr 27, 2016 (LBO) – The government will never allow any harm to the sovereignty and territorial integrity of the nation, referring to a recent resolution by the Northern Provincial Council, the President emphasized. Addressing the heads of media institutions at the President’s House in Colombo today, President Maithripala Sirisena added that even though anybody […]
World Bank approves USD45mn to protect Sri Lanka’s natural habitats
Apr 27, 2016 (LBO) – The World Bank Board has approved a 45 million US dollars credit to help protect Sri Lanka’s natural habitats and resources from degradation and exploitation. The credit for this project is provided by the International Development Association – the World Bank’s concessionary lending arm –with a maturity of 25 years, […]
PTL Watch: Yields dip after monetary policy decision
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Sri Lankans named in Panama Papers expected in May
Apr. 27, 2016 (LBO) – The International Consortium of Investigative Journalists said they will release on May 9th a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore […]
Fastest population shift in history, opportunity or threat to Asia?
Apr 27, 2016 (LBO) – If countries do not start planning for the rapid Asian demographic change, they will miss out on a unique opportunity to boost growth and investments for the future, a UN report said. The United Nations Development Programme (UNDP) in its latest Regional Human Development Report says that Asia-Pacific countries now […]
Swedish Cars introduces all new Volvo XC90 in Sri Lanka
Swedish Cars, an IWS Holdings company, which recently became the importer and distributor of Volvo’s cars in Sri Lanka, will soon launch a line of luxury cars displaying Volvo’s stylish transformation and its first interpretation of a new brand direction, where design has an elevated strategic importance to the Volvo brand. The all-new XC90 model, […]
‘s apparel: World Bank
Apr 27, 2016 (LBO) – Sri Lanka could enter into more trade agreements to help diversify export destinations for existing apparel products, a new World Bank report said. “The island could enter into more trade agreements to help diversify export destinations for existing products, such as active wear and intimate apparel,” World Bank report, Stitches […]
Govt pumps USD201mn to keep SriLankan, Mihin flying until October
Apr 26, 2016 (LBO) – Sri Lanka’s government has decided to pump 201 million US dollars to restructure and keep the operations of state-owned SriLankan Airlines and Mihin Lanka flying until October this year. Speaking at a special press briefing Prime Minister Ranil Wickremesinghe said the cabinet has also approved a 70 million US dollars […]
‘s subordinated debt A(lka)(EXP)
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel II-compliant subordinated debentures an expected National Long-Term Rating of ‘A(lka) (EXP)’. The issuance is to total LKR6bn, with the debentures to mature in five years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange. Sampath Bank plans to use […]
Sri Lanka budget deficit climbs, economy at USD82.3 billion
Highlights from press conference: – Budget deficit climbs to 7.4% in 2015 vs 5.7% in 2014 – Economy valued at $82.3 billion – Balance of payments deficit at $1.48 billion in 2015 – Credit to private sector 26.5% in Feb vs 25.7% in Jan – Technical agreement with IMF could be finalized this week Apr […]