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Sri Lanka foreign reserves at USD7.3 bln end Dec
Jan 11, 2016 (LBO) – Sri Lanka’s official foreign reserves was slightly higher at 7.29 billion dollars at the end of December, up from 7.28 billion dollars at the end of November, figures released by the Central Bank shows. This figure is down from 8.21 billion dollars in foreign reserves at the end of 2014. […]
Colombo Mayor says suing Enrique concert organizer
Jan 11, 2016 (LBO) – The mayor of Colombo says he is taking legal action to recover an estimated 30 million rupees in taxes from Live Events, the company that recently organized the Enrique Iglesias concert in Sri Lanka. The Colombo Municipality said event organisers had sold “invitations” to the event to avoid paying taxes […]
LBR LBO Infrastructure Summit 2015 – Keynote Speech – Professor Willie Mendis
BACKGROUND Cities – habitat to half of world population – now generate over 80% of the global GDP. According to a study by “The Economist “(2012), already global business is beginning to plan strategy from a city, rather than a country, perspective. Given the rapid growth and development of many cities, competition between them for […]
LBR LBO Infrastructure Summit 2015 – Keynote Speech – Professor Willie Mendis
BACKGROUND Cities – habitat to half of world population – now generate over 80% of the global GDP. According to a study by “The Economist “(2012), already global business is beginning to plan strategy from a city, rather than a country, perspective. Given the rapid growth and development of many cities, competition between them for […]
PM presents motion to convert parliament into a Constitutional Assembly
Jan 09, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe on Saturday presented the motion in Parliament to enact a new constitution by converting parliament into a Constitutional Assembly. A special Parliament session is also to be held next Tuesday to seek approval to convert parliament into a constitutional assembly. The motion presented by […]
Sri Lanka’s Central Bank to sell USD 75mn worth development bonds
Jan 08, 2016 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, two years and three months, and four years and five months to local and foreign investors. The Debt Department said the subscription will be at a floating rate of US dollar six month LIBOR plus […]
Sri Lanka introduces Smart Metering to reduce electricity generation costs
Jan 08, 2016 (LBO) – Sri Lanka’s Power Ministry in a bid to reduce electricity generation costs has introduced the long awaited Smart Metering system. A smart meter is usually an electronic device that records consumption of electric energy in intervals of an hour or less and communicates that information at least daily back to […]
President’s pledges to women, a review
Jan 08, 2016 (LBO) – Sri Lanka’s government needs to address several important issues in order to achieve significant progress in honoring the pledges made by President to women, Verité Research said in a report. The report offers an insight into the actionable promises made by President Maithripala Sirisena through ‘A New Sri Lanka for […]
Sri Lanka stocks close down 0.7-pct
Jan 07, 2016 (LBO) – Sri Lankan stocks closed down at 0.72 percent for a fifth consecutive day with continued losses in the banking and some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed lower at 48.99 points at 6,726.28 down 0.72 percent. S&P SL20 closed 32.04 points down at […]
Norway pledges support for recently resettled communities in Sri Lanka
Jan 08, 2016, (LBO) – The Government of Norway and UNDP Sri Lanka are partnering to improve access to justice and livelihood opportunities of the recently resettled communities in the Jaffna District, a statement said. Country Director of the United Nations Development Programme [UNDP] in Sri Lanka, Joern Soerensen and Ambassador of Norway to Sri […]
UN Secretary General congratulates President of Sri Lanka
The Secretary-General congratulates the President of Sri Lanka, H.E. Maithripala Sirisena, and the Government and the people of Sri Lanka on the first year of the country’s political transition. He is encouraged by the Government’s commitment to a broad reform agenda that aims to realise durable peace, stability and prosperity for the Sri Lankan people. […]