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‘t cause recession: BofA
Jan 27, 2016 (LBO) – Whatever does cause the next global recession, it probably won’t be China, according to Bank of America Merrill Lynch. Their analysts believe the world’s second-largest economy will avoid a hard landing and risks from financial market turbulence can be contained by the Chinese government, according to a Bloomberg report. “We […]
‘s Rebirth, blog by Joseph E Stiglitz
By Joseph E. Stiglitz COLOMBO – Sri Lanka has been deservedly praised for the progress it has made since the end of the war against the separatist Tamil Tigers in 2009. The economy has grown at an average annual rate of 6.7%, and education and health statistics are impressive. All developing countries face myriad challenges, […]
Sri Lanka spent Rs22mn for Yoshitha Rajapaksa’s naval training: Karunathilake
Jan 26, 2016 (LBO) – Sri Lanka’s government has spent over 22 million rupees for the foreign scholarships and training obtained by ex-President Mahinda Rajapaksa’s son former naval officer Yoshitha Rajapaksa, Chief Government Whip Gayantha Karunathilake alleged in Parliament. On behalf of the defence minister, Karunathilake said that Lieutenant Y. K. Rajapaksha was recruited to […]
Sri Lanka stocks closed down 0.5-pct
Jan 26, 2016 (LBO) – Sri Lankan stocks closed down 0.50 percent with the negative sentiment of the investors continuing for a second consecutive day with losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 31.96 points at 6,322.87 down 0.50 percent. S&P SL20 closed 22.23 points down […]
Opinion: Rite of passage, boom and bust cycle of the economy
By Ashini Samarasinghe Where economic performance is concerned, Sri Lanka tends to emphasize on the importance of economic growth or GDP growth over other economic indicators. This has led to expectations of consistently higher growth rates over time. However, we have not as yet been able to maintain high growth rates over a long period […]
Sri Lankans forecasts positive growth of local real estate market in 2016
Jan 26, 2016 (LBO) – A new survey has revealed that 41 percent of Sri Lankans believe that demand for houses will increase in the next 12 months. According to a newly-released report from Lamudi Sri Lanka, over 50 percent of respondents expect demand for both affordable and luxury apartments to grow this year. The […]
New ministry to restructure rather than run public enterprises: Kabir Hashim
Jan 26, 2016 (LBO) – The mandate of Sri Lanka’s new Public Enterprise Development ministry is restructuring rather than running the country’s large portfolio of state-owned enterprises, Kabir Hashim, Sri Lanka’s minister of Public Enterprise Development, told the publishing and consultancy firm Oxford Business Group. “The main objective is to reduce the burden SOEs place […]
Sri Lanka remittances contract in 2015: Frontier Research
Jan 26, 2016 (LBO) – Sri Lanka has experienced a contraction in inward remittances after several years amidst falling oil prices and slower hiring in the Gulf nations, a top research firm said. 2015 remittance inflows have contracted 0.5 percent against the previous year, Frontier Research said. In 2014 remittances grew around 9.5 percent, which […]
Orient Finance IPO raises Rs987 mln on opening day
Jan 26, 2016 (LBO) – Orient Finance PLC’s initial public offering had received applications for shares worth 986.9 million rupees on Monday, the company said in a statement to the Colombo Stock Exchange. The company is offering 71.5 million voting shares at 15 rupees a share to raise 1,072.5 million rupees. The IPO received 262 […]
CEAT radials chosen as original equipment for Micro Cars
CEAT’s radial tyre manufacturing operation in Sri Lanka has entered a new phase, being designated an Original Equipment Manufacturer (OEM) by Micro Cars Limited, the country’s prolific automobile assembly company. The highest-selling radial tyre brand in Sri Lanka, CEAT tyres are now being fitted on to Micro Panda and Micro Panda Cross cars rolling off […]
PTL Watch: Sri Lanka bond yield curve flat, activity thin
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Sri Lanka commits to protecting endangered wildlife: Minister
Jan 26, 2016 (LBO) – Sri Lanka has emphasized its commitment to protect endangered wildlife species at the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) on the side-lines of the 66th standing committee meeting of CITES held in Geneva, recently. “The government had decided to destroy a confiscated blood ivory […]