Tag: lbo.lk
Sri Lankan rupee forwards weaker on importer dollar demand
May 30 (Reuters) – Sri Lankan rupee forwards fell on Monday due to dollar demand from importers amid fears the currency could weaken further if the government increases spending following the country’s worst natural disaster since 2004, dealers said. Dollar/rupee forwards, known as spot next, were at 147.80/148.00 per dollar, weaker compared with Friday’s close […]
More landslide threat in Sri Lanka, says NBRO
May 30, 2016 (LBO) – Sri Lanka’s National Building Research Organization (NBRO) issued an alert for landslide prone areas on Sunday and asked people to always pay attention to pre-landslide signs. According to the alert, all mountainous areas, man-made cut slopes and roads, especially all the landslide susceptible areas previously identified by NBRO, in the districts […]
Minister Nimal Siripala de Silva heads Sri Lankan delegation at First World Humanitarian Summit
Minister De Silva, participating at the WHS representing President Maithripala Sirisena, stated that the UN Secretary General Ban Ki Moon’s “Agenda for Humanity” provides a strategic framework to prevent the humanitarian crisis and mitigate the effects. However, he stressed that action to implement the core responsibilities articulated in the WHS, should be aligned with the […]
Sri Lanka increases taxes for cars over 1000cc
May 27, 2016 (LBO) – Prices of vehicles above 1000 cubic centimeter engine capacity will increase following the increase of the minimum unit tax from today, the Vehicle Importers Association said. “Prices may go up by about 100,000 to 150,000 rupees while larger cars and Sports Utility range will see a steeper rise,” the association […]
World Bank team concludes visit to Sri Lanka
May 27, 2016 (LBO) – The World Bank Board of Executive Directors completed a five-day visit including site inspections on work being implemented under the Bank supported projects in the island. During the five-day visit, the team met with President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and Minister of Finance Ravi Karunanayake to understand the current […]
Sri Lankan rupee forwards trade weaker on importer dollar demand
May 26 (Reuters) – Sri Lankan rupee forwards fell on Thursday due to importer dollar demand and amid apprehension the currency would weaken on a possible increase in government spending after the country’s worst natural disaster since 2004, dealers said. The cost of landslides and floods after days of torrential rains will be between $1.5 […]
‘s agriculture to be modernized with World Bank funding
May 26, 2016 (LBO) – Sri Lanka’s cabinet has approved implementation of a five-year Agriculture Sector Modernization Project with 125 million US dollars granted by the International Development Agency of the World Bank. “It is necessary to implement policies that aim on improving the productivity of agriculture and to create high valued export agriculture for […]
European Union gives Rs.32.8mn for flood, landslide victims in Sri Lanka
May 26, 2016 (LBO) – The European Commission is providing 200,000 Euro (Rs. 32.8 million) in humanitarian funding to assist the most affected populations from floods and landslides in Sri Lanka. This aid will directly benefit 20,000 individuals who have been heavily impacted in five of the worst-hit districts in the country’s West, namely Colombo, Gampaha, […]
Ceylinco Life’s Life Fund crosses Rs 70 billion in 28 years
Ceylinco Life has announced that the company’s Life Fund crossed Rs 70 billion at end April 2016, making it the only local life insurer to achieve the feat in just 28 years. The country’s life insurance market leader said its Life Fund had grown by Rs 2.75 billion in just four months, enabling it to […]
Honesty and good communication skills are top traits for business leader – Regus Finding
Business people across the globe reported which key traits make a successful business leader and reveal that honesty and the ability to communicate with others are the must-haves in a successful leader’s arsenal. Almost 40,000 business people globally rated a number of qualities and traits to help sketch out the portrait of a good leader […]
Sri Lanka’s Islamic Finance sector growing, lacks skilled staff: report
May 26, 2016 (LBO) – Sri Lanka’s Islamic Finance sector continues to grow steadily but lacks staff that are qualified and have technical knowledge, the recently launched Islamic Finance country report 2016 said. “Despite the growth in the number of players, not a great deal of progress has been made in terms of the numbers […]
World Bank Launches Financing Facility to Protect Countries against Pandemics
SENDAI, Japan —The World Bank Group today launched the Pandemic Emergency Financing Facility (PEF), an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk. Japan, which holds the G7 Presidency, committed the first $50 million in funding toward the new initiative. “Pandemics […]