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Sri Lanka inflation NCPI decelerates 0.7-pct in Jan 2016
Feb 23, 2016 (LBO) – Sri Lanka’s consumer prices decelerated 0.7 percent in January from a year earlier, compared with a 4.2 percent rise in December, data from the state statistics office showed. In December, inflation rose at a slower pace as compared with November’s 4.8 percent, the new index with a base year of […]
Sri Lanka lending to increase to USD 2Bn by 2016: ADB President
Feb 23, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2016 through 2018 compared to the 1.5 billion US dollars in the past three years. “ADB is re-orienting its operations to meet the evolving needs of Sri Lanka […]
Sri Lanka offers discount for Myanmar Transshipments, threat from Vizhinjam
Feb 23, 2016 (LBO) – Sri Lanka Ports Authority has decided to grant a 10 percent discount on transshipment handling charges of the ship companies who comply to carry out Myanmar transshipment operations through the Colombo port. The decision aims to attract fast growing transshipment industry in Eastern India, Bangladesh and Myanmar, to the Colombo […]
PTL Watch: Sri Lanka bond yields climb 30-40bps after rate hike
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ADB President arrives in Sri Lanka
President of the Asian Development Bank Takehiko Nakao arrived in Sri Lanka yesterday night on a two-day official visit. The ADB President, accompanied by two ADB officials, will meet top government dignitaries and officials, today. The discussions with the ADB president are expected to focus on obtaining more development assistance to Sri Lanka.
USAID helps Polonnaruwa dairy farmers increase milk sales
Representatives from the Embassy of the United States of America and senior Sri Lankan officials presided at the February 18 signing of a Memorandum of Understanding (MoU) between dairy farmers, CIC Dairies, and Milk Industries of Lanka (Pvt.) Ltd. The MoU will help dairy farmers in Polonnaruwa to increase their milk sales. The Honorable Minister […]
Post-sanctions Iranian delegation in Sri Lanka to boost trade
Feb 23, 2016 (LBO) – A 30-member Iranian delegation arrived in Sri Lanka headed by its Energy Minister Hamid Chitchian. The delegation consists of members from government, the Iranian private sector and a trade chamber. “In our new era, we want closer cooperation with Sri Lanka,” Chitchian said according to a Ministry of Industry and […]
Samsung unveils Galaxy S7 and S7 edge next generation smartphones
Feb 22, 2016 (LBO) – Samsung Electronics on Monday announced the newest additions to the Galaxy family of products, Samsung Galaxy S7 and Galaxy S7 edge. Created for today’s consumer lifestyle, Galaxy S7 and Galaxy S7 edge lead the industry with a refined design, more advanced camera, streamlined software functionality and unparalleled connectivity to a […]
Leading Austrian companies ready to invest in Sri Lanka
The Austrian Chamber of Commerce states that several leading companies in Austria are ready to make several investments in Sri Lanka. The Chamber of Commerce stated it at a business meeting headed by President Maithripala Sirisena held yesterday (Feb. 19) in Viana with participation of the members of the business communities of Austria and Sri […]
Sri Lanka’s Ceylon Tobacco unit profits down 7.7-pct in Dec
Feb 20, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco fell 7.7 percent to 1,834 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 9.79 rupees per share for the quarter compared to earnings of 10.61 rupees per share posted a year ago. Gross revenue […]
Sri Lanka Central Bank hikes interest rates by 50 bp
Feb 19, 2016 (LBO) – Sri Lanka’s Central Bank hiked interest rates after a monthly policy meeting due to risks to the macroeconomy from excessive money supply growth and a continued trend in inflation, a statement said. The decision surprised the market, with 10 out of 14 economists not expecting rates to go up, according […]
‘t want foreign-led economy through ETCA
Feb 19, 2016 (LBO) – Parties in Sri Lanka’s opposition have raised concerns over proposed ETCA with India saying it leads to the “foreignization” of the Sri Lankan economy through executive fiat. Issuing a statement, the Joint Opposition charged the government for opening the country up to Indian service providers although the proposed ETCFA is […]