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Expert view: Sri Lanka needs a global economic strategy, says Razeen Sally
A NEW GLOBAL ECONOMIC STRATEGY FOR SRI LANKA Razeen Sally Sri Lanka desperately needs a new global economic strategy, and that is what the government has promised. But this is not just about dry economics: it must be part of a broader strategy for national renewal. Sri Lanka needs a decisive shift to markets and […]
Leading to clean country
President participates Coastal Clean-up Day celebrations The national ceremony to mark International Coastal Clean-up Day which falls on the 3rd Saturday of September, was held under the patronage of President Maithripala Sirisena today (Sep. 19) at the Galle Face Beach. Coastal Cleanup Day is dedicated to the improvement of beaches, coastal regions and surrounding areas […]
Asiri Hospital to sell shares to Actis Investment, up stake in Central Hospital
Sep 19, 2015 (LBO) – Asiri Hospital Holdings will sell new shares to Actis Investment Holdings, a private equity firm, for 845.7 million rupees, the company said in a statement. The funds will be used to raise its stake in Central Hospital from 68 percent to 99.7 percent, the company said in a stock exchange […]
Odel launches campaign to protect Yala wildlife
Sept 19, 2015 (LBO) – To encourage responsible behaviour during wildlife watching in Sri Lanka’s Yala national park, ODEL plans to install signboards and launch a media campaign, the company said.“Protecting the animals of Yala from irresponsible and ignorant visitors has become an urgent priority,” said Desiree Karunaratne, group marketing director of Softlogic Holdings, the […]
Sri Lanka policy change will accelerate poverty reduction: World Bank
Sept 19, 2015 (LBO) – Policy change is critical to accelerating poverty reduction and boosting prosperity in Sri Lanka, the World Bank Vice President for the South Asia Region, Annette Dixon, said during her recent meetings with the island’s leadership. She renewed the World Bank’s commitment to partner with the new government in implementing policy […]
Sri Lanka economy to grow 5.5-pct through end 2015; inflation 3-pct: IMF
Sep 18, 2015 (LBO) – Sri Lanka’s economic growth is likely to continue in the range of 5 to 5.5 percent through end 2015, driven by strong growth in services and a recovery in agricultural output, the IMF mission said. IMF mission led by Todd Schneider who visited the island recently to conduct Post-Program Monitoring […]
Alibaba falls below IPO price in New York Stock Exchange
Sep 18, 2015 (LBO) – The Chinese e-commerce giant Alibaba’s shares in the New York Stock Exchange have fallen below its initial offering price. Twelve months ago, Alibaba’s IPO priced at 68 US dollars, raised 21.8 billion US dollars for the company and made it the biggest IPO in US history. The share surged more […]
Sri Lanka stocks close down 0.08-pct: JKH losses
Sep 18, 2015 (LBO) – Sri Lankan stocks closed down 0.08 percent on Friday with low investor activity and losses in John Keells Holding, brokers said. The Colombo benchmark All Share Price Index closed down 5.64 points at 7,107.87 lower 0.08 percent. S&P SL20 closed 7.94 points higher at 3,893.02 up 0.20 percent. Turnover was […]
UN Secretary General hails Human Rights Commissioner’s report on Sri Lanka
Sep 18, 2015 (LBO) – The UN Secretary General Ban Ki-moon has welcomed the report of the office of the High Commissioner for Human Rights on promoting reconciliation, accountability and human rights in Sri Lanka.Releasing a statement, Secretary General stated that the victims of all communities, their families and the Sri Lankan nation itself demand […]
Sri Lanka’s Commercial Bank to explore Maldives expansion
Sep 18, 2015 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is planning on setting up a banking subsidiary in the Republic of Maldives in partnership with a Maldivian company, the bank said in a stock exchange filing.“We are delighted to receive a licence to operate a fully-fledged banking subsidiary in the Maldives,” Commercial Bank’s Managing […]
Sri Lanka’s cabinet decides policy on advisors
Sep 18, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has decided on policy with regard to appointment of advisors to the Cabinet and payment of their allowances, media spokesman, Minister Rajitha Senaratne had said.The government consideration would only be given to appoint eminent persons with wide knowledge on the subject matters, advice which cannot […]