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Opinion: Five major economic risks to watch for this year
By Shang-Jin Wei Developing Asia is poised to grow at 6 percent this year, a slight uptick from the 5.8 percent figure in 2015, but looking ahead, five major economic risks loomon the horizon and the impact of each will be different across countries. The first is the future path of interest rates in the […]
Sri Lanka IMF issues could be worked out March or April: IMF
Feb 12, 2016 (LBO) – Sri Lanka has expressed interest in an IMF supported program as an option to address balance of payments pressures and issues could be worked out by March or early April, an IMF official said. “The authorities have expressed interested in a Fund supported program as one option to address the […]
Sri Lanka’s Hayleys December net down 27-pct
Feb 11, 2016 (LBO) – Profits at Sri Lanka’s diversified Hayleys group fell 27 percent to 534 million rupees in the December 2015 quarter, interim accounts showed. The firm reported earnings of 7.12 rupees for the quarter 2015 compared to last year earnings of 9.81 rupees on profits of 736 million rupees. The group revenue […]
MR reveals the pledge given to Prince Hussein by President and PM
The President and Prime Minister have given the UN Human Rights Commissioner an assurance that last year’s UN Human Rights Council resolution against Sri Lanka will be implemented. This UNHRC resolution was accepted and co-sponsored by the Sri Lankan government and passed by the UNHRC without a vote. The UNP led government accepted the Geneva […]
Customs duty increase on imported rice approved by cabinet
Feb 11, 2016 (LBO) – The government recently decided to increase the import duty on rice from 35 rupees to 50 rupees per kilogram effective from February 01, 2016. Finance Minister Ravi Karunanayake’s proposal to submit the relevant Gazette Notification under the “Revenue Protection Act” to the parliament for approval, has been approved by the cabinet […]
Sri Lanka invites proposals for Colombo Port East Container terminal
Feb 11, 2016 (LBO) – The cabinet has decided to invite expressions of interest and business proposals from interested parties for Colombo Port’s East Container terminal. The cabinet has also decided to appoint the Asian Development Bank as the project’s Transaction Adviser. The second deep-water terminal in the Colombo Port Expansion Project is the East […]
Sri Lanka condemns North Korea missile launch
The Government of the Democratic Socialist Republic of Sri Lanka has condemned the launch of a long range missile by the Democratic People’s Republic of Korea on 07th February 2016. Sri Lanka calls upon the Democratic People’s Republic of Korea to abide by its international obligations and desist from any action that would adversely impact […]
Jayantha Jayasuriya took oaths as new Attorney General
Senior Additional Solicitor General Jayantha Jayasuriya took oaths as the new Attorney General before President Maithripala Sirisena this morning (11).
LUSH appoints Ms. Sri Lanka 2014 as Brand Ambassador
LUSH, one of the country’s most recognized Skin Clinique’s attributing a state-of-the-art approach appointed Ms. Sri Lanka 2014 Chulakshi Ranathunga as their Brand Ambassador. Setting in line the specialist Clinique’s tagline that focuses on ‘Beauty, Perfection and Confidence’, the event to mark the endorsement by Ms. Sri Lanka 2014 was patronized by LUSH, Directress Sheromi […]
Sri Lanka can be pendent in the necklace: Tourism officials
Feb 11, 2016 (LBO) – Sri Lanka is a market on the verge of taking off as tourist hot spot and the island should try to lure more brands into the country, a senior industry official said. “Sri Lanka is the pendent in the necklace, you have unique location right in the middle of the […]
PTL Watch: 10-25 bp drop in Sri Lanka 2030, 2041 bonds
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Sri Lanka CSE calls proposals for CCP suppliers
Feb 11, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange says they are calling for Request for Information (RFIs) inviting potential suppliers for the Central Counter Party (CCP) system to be implement in early 2017. “Upon completion of the first phase of the project, we have now issued a Request for Information (RFI) to engage potential suppliers,” […]