Tag: lbo
Sri Lanka to forge ahead despite external pressures: Ravi
Feb 17, 2017 (LBO) – Sri Lanka’s finances are improving despite global turmoil, Brexit and higher interest rates in the US, backed by a Fitch Ratings outlook upgrade, the finance minister said. “State revenues in 2016 rose to over 13 percent of gross domestic product from around 10 percent and the budget deficit had come […]
‘s NITF gets reinsurance cover for agriculture
Feb 17, 2017 (LBO) – Sri Lanka’s National Insurance Trust Fund says they have procured a reinsurance program for its agriculture insurance schemes. “This reinsurance programme will provide support to agricultural insurance schemes funded by NITF including the recently launched National Agricultural Loan Protection Scheme,” NITF said in a statement. “The cover has been arranged […]
Softlogic Holdings turnover crosses Rs. 45 Bn, up 9.9-pct
Earnings Review – Group’s cumulative turnover crossed Rs. 45 Bn (up 9.9%) for period ending 31 December 2016 while the quarterly revenue improved marginally to Rs. 15.7 Bn. This slow growth was primarily due to the Group’s substantial downsizing of ‘Nokia’ operations. – Consolidated Gross Profit increased to Rs. 4.7 Bn during the second quarter […]
Australia and Sri Lanka sign new partnership agreement
Feb 16, 2017 (LBO) – Australia and Sri Lanka have signed a new development cooperation partnership during Prime Minister Ranil Wickramasinghe’s visit to Australia. “The new partnership sets a new direction,” the Australian High Commission said releasing a statement. “As Sri Lanka’s economy grows, Australia will support the Government’s reform agenda including ensuring that economic growth […]
Sri Lanka to import 40,000MT of edible oil, Reduce levy on coconut oil
Feb 16, 2017 (LBO) – Sri Lanka’s Cabinet has approved to amend the special commodity levy on coconut oil and related products to allow importation of 40,000 metric tonnes edible oil required for 04 months. Coconut Research Institute has forecasted that the coconut harvest may decrease from 13.9 percent in January – August 2017 compared to […]
Asian stocks at 1-1/2 year highs on robust Wall St; dollar retreats
HONG KONG, Feb 16 (Reuters) – Asian stocks edged up to fresh 19-month highs on Thursday, helped by an extended rally on Wall Street and strong U.S. data though the dollar stepped back after a recent bounce. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, rising to its highest since July […]
Sri Lanka senior citizens’ deposits up to Rs1.5Mn to get higher interest
Feb 15, 2017 (LBO) – Sri Lanka’s Finance Ministry said that it will increase the upper limit up to 1.5 million rupees for 15 percent special interest paid on fixed deposits maintained by senior citizens. Director General of Department of Development Finance said the treasury will pay 18,000 million rupees to cover the difference during the […]
Indonesia donates 5,000MT of rice to Sri Lanka
Feb 15, 2017 (LBO) The Indonesian government will donate 5,000 metric tonnes of rice to Sri Lanka following a request of President Maithripala Sirisena through the local ambassador in Jakarta. The consignments to be shipped in a few days are expected to arrive in Colombo in March, the Sri Lankan Foreign Ministry said in a statement. […]
New Zealand Aid Programme announces Commonwealth Scholarships for Sri Lanka
(PRESS RELEASE) – The New Zealand Government has announced its fresh round of Commonwealth Scholarships for Sri Lankan students who wish to commence programmes of study at New Zealand academic institutions in 2018. The application process opens on February 15 and closes on March 30. “New Zealand and Sri Lanka share an important and growing relationship, which is built […]
Sri Lanka assumes Chair of Asia-Pacific Group at United Nations in Vienna
(PRESS RELEASE) – H. E. Ambassador Priyanee Wijesekera assumed the Chairmanship of the Asia-Pacific Group at United Nations in Vienna from Philippine. In this honourable role, Sri Lanka is coordinating communication and organization of meetings between the 54 members of Asia-Pacific Group and the United Nations Organizations in Vienna. Furthermore, H. E. Ambassador Priyanee Wijesekera […]
‘s national insurance scheme
Feb 15, 2017 (LBO) – Sri Lanka has taken a step forward in its policy making by introducing a national insurance scheme, the World Food Program said. Executive Director of World Food Program Ertharin Cousin said that the WFP can provide technical assistance to deal with natural disasters such as floods, earth slips or drought. “Technical assistance […]
Hayleys 3Q16 profits grow by 8-pct to Rs.1.1Bn
(PRESS RELEASE) – Sri Lankan conglomerate Hayleys PLC’s profits after tax rose by 8% Year-on-Year (YoY) to reach Rs. 1.1 billion during the quarter ended 31st December 2016 (3Q16). Revenue during the quarter increased by a sharp 27% YoY up to Rs. 30 billion buoyed by strong performances across in the Group’s Agriculture, Construction Materials […]