Tag: lbo
Sri Lanka’s foreign reserves upsurge to USD7.5bn in April, CB predicts further growth
June 2, 2015 (LBO) – Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in April 2015 from 6.8 billion US dollars in March, due to a 400 million US dollar currency swap from the Reserve Bank of India, Central Bank said. The regulator says the reserves likely to increase further helped by […]
Sri Lanka to provide air facilities to concur Asian tourist arrivals: Minister
Jun 01, 2015 (LBO) – Sri Lanka increase tourist arrivals from the Asia – Pacific region through bi-lateral aviation agreements, a Minister said. “There has been a significant improvement in the tourist arrivals in the past few years and a notable increase in the Asia-Pasific region,” Reginald Cooray, Minister of Aviation said.“We anticipate that this […]
Sri Lanka’s exports decreases marginally, Imports down: Central Bank
June 02, 2015 (LBO) –Sri Lanka’s exports earnings declined marginally by 0.9 per cent, year-on-year, to 1,060 million US dollars in March 2015, led by tea followed by precious metals and textiles and garments exports, the Central bank said. Sri Lanka reported 1,070 million US dollars of exports in March 2014, the highest monthly earnings […]
Sri Lanka’s National Development Bank subordinated debentures rated A+(lka): Fitch Ratings
Jun, 01, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has assigned National Development Bank proposed subordinated debentures of up to 10 billion rupees a final National Long-Term Rating of ‘A+(lka)’. Full statement follows Fitch Ratings Lanka has assigned National Development Bank PLC’s (NDB; AA-(lka)/Stable) proposed subordinated debentures of up to LKR10bn a final National […]
‘s highways ministry replies former president Rajapakse; RDA obtained loans providing false docs
June 1, 2015 (LBO) – Sri Lanka’s Ministry of Highways and Investment Promotion says road development funds has been misused during the Rajapakse regime and the Road development Authority has even obtained a loan from National Savings Bank providing false documents during the period. The ministry said this in a statement today, in replying to […]
Sri Lanka asked exporters, expats to bring dollars back to the Island: Promised a higher interest rate
June 01, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake urged all Sri Lankan exporters and expatriates to bring their money back to the country and promised the government will pay a higher interest rate, above the foreign banking and financial institutions.“We will not have to go after foreign Bond issues if these funds […]
Sri Lanka to get USD50mn loan for early childhood development project
June 01, 2015 (LBO) – Sri Lanka will hold discussion with World Bank to obtain a loan facility of 50 million US dollars to develop an early childhood development project,in the island, Cabinet Spokesman Rajitha Senaratne told media at a press briefing held recently.“The government’s development strategies have identified the importance of making more investment […]
Sri Lanka appoints committee to look into Chinese port city continuation
May 31, 2015 (LBO) – Sri Lanka’s government plans to appoint a committee to consider the ability of permitting the continuation of the controversial Chinese funded project, after correcting the lapses and procedures, Cabinet Spokesman Rajitha Senarathne said.The proposal was made by Prime Minister Ranil Wickramasinghe in his capacity as the Minister of policy planning […]
Sri Lanka’s bond auction sends positive signals to the world: CB Governor
May 29, 2015 (LBO) – Sri Lanka’s Central Bank Governor, Arjuna Mahendran says the local bond auction carried on a transparency manner and it sends positive signals to the business community around the world to invest in the Indian Ocean Island. “We wanted to develop our local bond market. We wanted to see the Sri […]
‘s foreign reserves moving towards USD 9 bn: Ravi Karunanayake
May 29, 2015 (LBO) – Sri Lanka’s government plans to increase the Island’s foreign reserves to 9 billion US dollars, Finance Minister Ravi Karunanayake said. Sri Lanka’s foreign reserves would be close to 8.3 billion US dollars after proceeds from a 988 million dollar sovereign bond and development bond injection to the economy. “That is […]
Sri Lanka to host international marine life conference in 2016
May 29, 2015 (LBO) – Sri Lanka will host the second International conference on marine mammals in the Indian ocean to help promote and encourage conservation of the species around the island, an official said. “Our job is to ensure that this rich bio-diversity and habitat of these animals are protected,” Prof Lakdas Fernando, President, […]
Sri Lanka sign USD107mn deal for road development with ADB
May 29, 2015 (LBO) – Sri Lanka’s government signed a US 107 million dollar road development loan agreement with the Asian Development Bank (ADB), the bank said in a statement.“The US 107 million dollar second tranche loan agreement is part of a US 800 million dollar multi-tranche financing facility to upgrade roads,” the statement said. […]