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Sri Lanka to buy 3 private power plants: Power Minister
Mar 23, 2016 (LBO) – Sri Lanka’s Power Ministry has decided to buy three private power stations as an additional measure to avoid future power cuts. Accordingly, ACE power generation Matara (25 MW), ACE power generation Embilipitiya (100 MW) and Heladhanavi Power Station Puttalam (100 MW) will be acquired by the government. The power purchase […]
Sri Lanka seeks USD1bn currency swap with China: Prime Minister
Mar 23, 2016 (LBO) – Sri Lanka is currently looking at one billion US dollars worth currency swap agreement with China, Prime Minister Ranil Wickremesinghe told Parliament Wednesday. “We have several issues with regard to the foreign exchange reserves. We already have a swap with India and now we are going to have another one […]
PTL Watch: Bond yields tick higher on thin volumes
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IFC, Canada to invest USD15 mn in Richard Pieris for green retail growth
Mar 23, 2016 (LBO) — IFC, a member of the World Bank Group, together with the IFC-Canada Climate Change Program will invest 15 million dollars in Sri Lankan retail chain Richard Pieris Distributors Limited to help the company expand its retail network, support job creation, and develop local supply chains, a statement said. Funding will […]
UK supports professional development of Sri Lanka Police
For the last three years the UK, through the Scottish Police College, has supported the development of new training programmes for the Sri Lanka Police – both for new entrants to the Police College and more senior officers at the Police Academy. Courses at the Academy cover topics such as Ethical Leadership and Organisational Management. […]
Classical Pianist Richard Clayderman to perform in Sri Lanka
Richard Clayderman, the French Classical Pianist is set to perform in Sri Lanka at the NelumPokuna on April 8th, 2016. The concert is being organized by Hussain Shirufaz of Helix Krest Holdings (Pvt) Ltd. Event Partners have been announced as Yamaha Music and Hotel Hilton Colombo whilst Media Sponsors are Legends, Yes FM and TV1. […]
Australian High Commissioner visits development projects in North
The Australian High Commissioner, Mr Bryce Hutchesson, visited the Northern Province on 16-18 March 2016 to meet with key government interlocutors and inspect Australian-supported development projects. In Jaffna, Mr Hutchesson had productive discussions on the political, economic and development situation in the North with Governor Reginald Cooray, Chief Minister C.V. Wigneswaran, Security Forces Commander, Jaffna, […]
Markets mixed after deadly attacks in Brussels
Mar 23, 2016 (LBO) European markets recovered from early losses after deadly attacks in Brussels killed 31 people and injured more than 230. France’s CAC and Germany’s DAX index fell 2 percent early on, but recovered by close. The CAC closed up 0.09 percent and the DAX up 0.42 percent. The FTSE closed up 0.12 […]
Sri Lanka inflation accelerates to 1.7-pct in February 2016
Mar 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose 1.7 percent in February from the 0.7 percent deflation reported a month earlier on year-on-year basis, data from the state statistics office showed. The main contributor towards the increase was the Non-food category, the state statistics office said. The […]
Royal Turf Club concludes first race with fashion at Nuwara Eliya
Amidst accolades, excitement, clean racing and all the fun, thrills and spills of a racing carnival, set in the picturesque environs of Nuwara Eliya or ‘Little ‘England ‘ as it is fondly termed, the newly formed Royal Turf Club concluded its first race for the season ‘At The Highest Level’ ! Over 35 horses were […]
CA Sri Lanka launches new Integrated Reporting Council
In a fresh initiative aimed at further enhancing the best practices of financial reporting amongst corporates in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) launched the Integrated Reporting Council (IR Council), comprising of professionals from the accounting and non-accounting sectors, regulators and academics. The inaugural meeting of the IR […]
Opinion: Sri Lankan apparel, seeking market access through trade deals
By Subhashini Abeysinghe Apparel is the single most important export of Sri Lanka. With export earnings of US$ 4.7 billion, apparel accounted for 42% of total exports of the country in 2014. The sector faces several challenges in the international market. Erosion of cost competitiveness due to higher costs and a shortage of labour at […]