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Sri Lanka needs more Sinhala, Tamil online content: CPA media Survey
Jan 29, 2016 (LBO) – Sri Lanka’s web usage would increase if more content was available in Sinhala and Tamil, a new media survey by the Centre for Policy Alternatives (CPA) said. If the device that they use to access the web supported Sinhala and/or Tamil fonts, almost 50 percent of the respondents agreed their usage […]
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Fitch Ratings has affirmed the rating on SriLankan Airlines Limited’s (SLA) US dollar-denominated government guaranteed bonds at ‘BB-. KEY RATING DRIVERS The national carrier’s bonds are rated at the same level as SLA’s parent, the state of Sri Lanka, due to the unconditional and irrevocable guarantee of principal and interest of the notes provided by […]
Sri Lanka to use new tool to assess future electricity demand
Jan 29, 2016 (LBO) – Island’s electricity regulator, the Public Utilities Commission is to adopt an internationally accepted tool to review the forecasted electricity demand in Sri Lanka. The tool named as MAED (Model for Analysis of Energy Demand) has been developed by International Atomic Energy Agency and offered free of charge to the commission. […]
PTL Watch: Buying in 2030 bond, profit taking later
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Government to start relocating Manning Market from tomorrow
Jan 29, 2016 (LBO) – Megapolis and Western Development Minister Champika Ranawaka launching the Megapolis plan on Friday said the government will start relocating Manning Market from tomorrow as part of the Megapolis plan. Two weeks ago the Cabinet decided to relocate the Manning Market to Peliyagoda area and utilize the premises for public transportation […]
LBR LBO Infrastructure Summit 2015 – Session 02
Colombo has a high potential to become a global city. The geographic location and close proximity to maritime sea routes are strategic advantages. Its geo-location is an exploitable asset in the global economy. However, it is not only the access to “Silk Road” that global cities compete with each other now, but for capital, talent […]
USD100mn capital infusion into ETI Finance approved
Jan 29, 2016 (LBO) – The Central Bank has approved a proposal to infuse 100 million US dollars into the share capital of ETI Finance, Swarnamahal Financial Services said in a stock exchange filing. This capital injection reportedly from institutional investors from Australia is mandated to be completed by 28 February 2016. ETI Finance is […]
Bank of Japan introduces negative interest rate policy
Jan 29, 2016 (LBO) – The Bank of Japan has introduced a negative interest rate policy to achieve a price stability target of 2 percent at the earliest possible time. At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan has decided to introduce Quantitative and Qualitative Monetary Easing with […]
”, Sri Lanka begins screening at airport
Jan 29, 2016 (LBO) – The World Health Organization said the spread of the Zika virus, transmitted by mosquitoes, is “explosive” and more studies were needed, as Sri Lanka began screening visitors from Latin American and African countries at the airport. The Zika disease has been detected in 23 Latin American countries and linked to […]
Amari Galle Sri Lanka – on track to open in late 2016
Construction of Amari Galle Sri Lanka is progressing on schedule, with the resort on track to open in late 2016. This upcoming opening marks the introduction of the Amari brand by ONYX Hospitality Group to Sri Lanka, and follows on the success of two earlier openings in the country – OZO Colombo and OZO Kandy. […]
”s Bharti Airtel to merge subsidiaries in Bangladesh
Jan 28, 2016 (LBO) – Axiata Group Bhd, Malaysia’s largest mobile operator by market value, and Bharti Airtel Ltd, India’s largest telecom operator by subscribers, agreed to merge their subsidiaries in Bangladesh, said Axiata on Thursday. The merger of Robi Axiata Limited and Airtel Bangladesh Limited, components of the respective companies, will create an entity […]
Sri Lanka trade deficit widens 1 pct in 11 months to Nov
Jan 28, 2016 (LBO) Sri Lanka’s trade deficit for the first eleven months of 2015 marginally increased by one percent to 7.6 billion dollars, the central bank said. Worker remittances declined 7.2 percent to 574.5 million dollars in November 2015, year-on-year, although cumulative inflow from remittances was up marginal 0.8 per cent to 6.4 billion […]