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US Ambassador meets Megapolis and Western Development Minister
U.S. Ambassador Atul Keshap met today with Minister of Megapolis and Western Development Champika Ranawaka.During the meeting, Ambassador Keshap and Minister Ranawaka discussed future infrastructure projects essential to Sri Lanka’s prosperity, energy production and environmental protection, and progress on the development of a new constitution. Ambassador Keshap stressed “the United States supports the Sri Lankan […]
Motor car registrations high at 10,054 in November: JB Securities
Dec 18, 2015 (LBO) – Vehicle registration momentum continued into the month of November due to the pre-Nov 20 budget surge and relaxation of LTV rule, JB Securities said in a research note. Total motor cars registrations recorded 10,054 units in Nov slightly down from 10,349 units in Oct but significantly higher than 2,419 units […]
PTL Watch: Yield curve up after bond auction
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Working to make Sri Lanka mine-impact free by 2020 a reality
The High Commissioner of Canada to Sri Lanka and Maldives, Her Excellency Shelley Whiting was honoured to host the Minister of Foreign Affairs, Honourable Mangala Samaraweera on 17 December to visit a Mines Advisory Group (MAG) demining site in Mannar to view demining activities being undertaken with Government of Canada funding. Minister Samaraweera and High […]
President controls smaller share of govt expenditure: Manthri.lk
Dec 18, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena controls a smaller percentage of total government expenditure compared with his predecessor Mahinda Rajapaksa, according to budget analysis conducted by Manthri.lk. The former president had 1.6 trillion rupees under his portfolios, while the current president has 377 billion rupees under his purview. Manthri.lk profiles the […]
Sri Lanka cannot expect IMF to come and sort out problems: Razeen Sally
Dec 18, 2015 (LBO) – Sri Lanka might need IMF funds as money flow tightens in the future with global economic complexity but the government cannot expect a bail out by the IMF after acting irresponsibly, Professor Razeen Sally said in a forum held Thursday.“There is a lot of talk, as in the past, about […]
Turkey to provide USD350mn for development projects in Sri Lanka
Dec 17, 2015 (LBO) – Finance Ministry is to enter into an agreement with Turkey that will enable Sri Lanka to have 350 million US dollars from Turk Exim Bank to implement development projects in Sri Lanka.The cabinet has approved a proposal to sign this MOU with the intention of strengthening the financial relationship with […]
A time for optimism: inaugural Australia – Sri Lanka senior officials’ talks
Department of Foreign Affairs and Trade Deputy Secretary Ric Wells led the Australian delegation to inaugural Senior Officials’ Talks with Sri Lanka on 16 December in Colombo.Wells and his counterpart from the Sri Lankan Ministry of Foreign Affairs, Additional Secretary Ranjith Uyangoda, discussed opportunities in trade and investment, development assistance, reconciliation and human rights, as well as people-to-people links. Australia […]
Brandix wins 8 Presidential Export Awards
The Brandix Group’s contribution to the country’s export economy was recognized at the highest level this week when Sri Lanka’s single largest apparel exporter was presented with eight Presidential Export Awards at a ceremony presided over by the country’s Head of State. Brandix was recognised as the Sri Lankan Exporter of the Year in […]
Commercial Bank celebrates Christmas with carol service
Staffers of the Commercial Bank of Ceylon displayed another facet of their versatility recently, when they celebrated the advent of Christmas at the Bank’s annual carol service. A 60-strong choir entertained guests at the Bishop’s College auditorium at the event, themed ‘Miracle in a manger.’ Music for the event was provided by a band made […]
Sri Lanka requests India to extend USD 1.5bn swap facility by one year
Dec 17, 2015 (LBO) – Sri Lanka’s Finance Ministry has requested India to extend the existing 1.5 billion US dollars swap facility by one year, the finance minister told Parliament Thursday.“I spoke to Indian Finance Minister Arun Jaitley and requested to extend the USD 1.5 bn facility by another year,” Finance Minister Ravi Karunanayake said.“Because […]
We are not dictated by IMF policy: Finance Minister
Dec 17, 2015 (LBO) – Sri Lanka’s Finance Minister told Parliament Wednesday that the country has a strong balance of payments environment and rejected reports of a gloomy outlook for 2016. “There is no issue with the balance of payments. Our problem is with the trade balance. Our exports have decreased and imports increased,” Finance […]