Tag: lbo.lk
Sri Lanka approves feasibility for 100MW solar park
Dec 21, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved a feasibility study for construction of a 100 megawatt solar park in Siyambalanduwa, Monaragala. “There is currently a global trend in generating electricity through renewable energy sources and a priority has been given to solar power,” the recently approved statement on cabinet decisions […]
Strong safeguards must accompany Asia’s infrastructure drive: ADB
Dec 21, 2016 (LBO) – Asia’s spending on growth-boosting infrastructure is set to get a tailwind from development financing while the safeguard systems used by the Asian Development Bank (ADB) and other development banks as conditions for their loans are under international scrutiny. More financing for infrastructure is becoming available from established and new lenders […]
‘s BoC to open subscription for Rs8 bn debenture
Dec 20, 2016 (LBO) – Sri Lanka’s state run Bank of Ceylon is opening the subscription list of its 8th listed Rupee debenture issue on 21st December 2016. Bank intends to utilize the proceeds of this issue to expand the loan book. During the first nine months of 2016 the loan book has grown by […]
Sri Lankan rupee edges down on mild importer dollar demand
COLOMBO, Dec 19 (Reuters) – The Sri Lankan rupee slipped on Monday on mild importer dollar demand, as the market braced for declines in the local currency with the central bank raising the spot reference rate following a hike in U.S. interest rates, dealers said. The U.S. Federal Reserve raised interest rate by 25 basis […]
Sri Lanka govt revenue up 23-pct: Finance Ministry
Dec 19, 2016 (LBO) – Sri Lanka’s Finance ministry says that state revenue has increased by 23 percent during the first nine months of this year compared with the same period in 2015. “Accordingly, the state revenue in the first nine months of 2016 rose to 1,180 billion rupees from the 959 billion rupees earned […]
Asia stocks find relief as China set to return seized US drone
TOKYO, Dec 19 (Reuters) – Asian shares steadied in early trade on Monday after China agreed to return a U.S. drone it had seized, easing worries about rising diplomatic tensions between the world’s two biggest economic powers. MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent after falling to its lowest […]
‘s economy grew 4.1-pct in third quarter
Dec 15, 2016 (LBO) – Sri Lanka’s economy grew 4.1 percent in the third quarter of 2016 with strong growth construction, a statement said. “During the third quarter of 2016, industrial activities recorded a significant increase in overall growth rate, at 6.8 percent, while the services activities have grown by 4.7 percent, compared to the […]
Sri Lankan rupee weakens as c.bank raises reference rate after Fed move
COLOMBO, Dec 15 (Reuters) – The Sri Lankan rupee edged lower on Thursday as the central bank raised the spot reference rate further, a day after the U.S. Federal Reserve hiked interest rates by 25 basis points, dealers said. The Fed raised interest rates on Wednesday and signalled a faster pace of increases in 2017 […]
PUCSL warns of power shortages in Q1 2017
Dec 15, 2016 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the regulator of the state-run CEB, issued a warning after observing the risks in December that included only two of three generators at the Lakvijaya coal power plant being in working condition and possibility of inadequate rainfall. “Only two units of Lakvijaya Plant are […]
Sri Lanka vulnerable to direct and indirect effects of sustained capital outflows: Moodys
Dec 15, 2016 – Sri Lanka has been named as one of the countries that have the highest vulnerability to the direct and indirect effects of sustained capital outflows, according to a new report of Moody’s Investors Service. “Overall, vulnerability to the direct and indirect effects of sustained capital outflows is highest for Mongolia, Sri […]
Hong Kong, China stocks fall after Fed rate hike
SHANGHAI, Dec 15 (Reuters) – Hong Kong stocks slumped on Thursday morning along with other Asian markets, after the U.S. Federal Reserve raised interest rates and signalled a faster-than-expected pace of policy tightening, reducing the appeal of emerging market assets. Chinese shares, with less exposure to global market volatility due to strict capital controls, dropped […]
CSE shines at the ‘Great HR Quiz 2016’ organized by IPM
(PRESS RELEASE) – Two teams representing the Colombo Stock Exchange (CSE) were placed as the winner and the runner up under the ‘Special Category’ at the ‘Great HR Quiz’ organized by the Institute of Personnel Management (IPM). 2016 marks the second occasion a team representing the CSE has excelled in the competition following a win […]