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CHEC Port City refutes allegations by Sri Lanka state minister
Jan 22, 2016 (LBO) – CHEC Port City Colombo in a letter to Sujeewa Senasinghe, state minister of international trade, has refuted a public statement by him of corruption in the Colombo Port City deal. “The said statement attributed to you, which induces the reader to arrive at the irresistible conclusion that the project has […]
Cash rewards from Commercial Bank for bill payments via Mobile Banking
The Commercial Bank of Ceylon is to reward customers for usage of the Bank’s Mobile Banking facility, with Rs 1.5 million in cash prizes over the next three months. Customers already registered for Mobile Banking who pay a minimum of three utility bills such as Electricity, Water, Telephone and Pay TV a month to the […]
Sri Lanka to obtain membership of Asian Infrastructure Bank with USD 268mn
Jan 21, 2016 (LBO) – The Cabinet has approved the draft bill to enable Sri Lanka to obtain the formal membership of the Asian Infrastructure Investment Bank through ratification of the required agreement. Sri Lanka has signed the agreement as an initial member to establish this bank on 29 June 2015 in Beijing, China. 57 […]
Sri Lanka inflation NCPI at 4.2-pct in December 2015
Jan 21, 2016 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months to December 2015 from a year earlier, data from the state statistics office showed. In November 2015, the index which is termed as National Consumer Price Index reported 4.8 percent inflation. Year on year inflation of Food Group has been […]
Central Bank negotiating with IMF for SBA: Amunugama-Updated
Jan 21, 2015 (LBO) – The Central Bank is negotiating with the IMF for a one billion dollar stand-by arrangement, Special Assignments Minister Sarath Amunugama said at an SLFP media briefing, according to a media report. Amunugama said discussions were ongoing and the first tranche of the SBA could come in by late February or […]
Sri Lanka stocks closed up 1.6-pct
Jan 21, 2016 (LBO) – Sri Lankan stocks closed up 1.59 percent after four days of losses with gains across the board as regional markets were also all in the green, brokers said. The Colombo benchmark All Share Price Index closed higher 99.38 points at 6,360.56 up 1.59 percent. S&P SL20 closed 44.61 points up […]
Bank of Tokyo Mitsubishi UFJ opens representative office
Jan 21, 2015 (LBO) – Bank of Tokyo-Mitsubishi UFJ (BTMU), Japan’s largest bank by market value, opened a representative office in Sri Lanka on Thursday to support business with Japanese companies. The bank is the commercial banking entity of Mitsubishi UFJ financial group (MUFJ), the eighth largest bank in the world with assets of 2.4 […]
PTL Watch: Mid-tenor bonds up 20 to 30 basis points
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Tea exporters discusses foreign tea imports for re-export
Sri Lankan tea exporters received much needed encouragement and Ministerial level assurance to resolve their travails –and with the involvement of a broad range of stakeholders in future, on 19 January. At a special meeting with the exporters at EDB, State Minister of International Trade Sujeewa Senasinghe came forward to assist the tea exporters to […]
China eyes more investment opportunities in Sri Lanka: PM (VIDEO)
Jan 21, 2016 (LBO) – Prime Minister Ranil Wickremesinghe said in Switzerland that Sri Lanka is expecting more investments from the China apart from the ongoing infrastructure projects. “Infrastructure alone is not sufficient and we are discussing bringing more Chinese investments,” Wickremesinghe said at a press conference held during the World Economic Forum in progress in […]
‘ll save country ignoring income from drugs and tobacco: President
Jan 21, 2016 (LBO) – President Maithripala Sirisena says he would save the country and the people from the drug menace, ignoring the income received by the government from the sale of drugs and tobacco. Speaking at the concluding ceremony of the National Program for Drug Prevention held recently, the President said instructions have been given […]
Sri Lanka should look at IMF package seriously: Kelegama
Jan 21, 2016 (LBO) – Sri Lanka should look at the IMF package very seriously as the temporary measures would not fix the fundamental issues of the economy, an economist said. Saman Kelegama, Executive Director of the Institute of Policy Studies told a forum that the country needs to bring down the over heated economy […]