Tag: news

September 19, 2014 (LBO) – Sri Lanka cabinet has given approval to establish a Human Heart Valve bank at a cost of 30 million rupees to provide cardiac valves and tissues necessary for valve replacement and repair of some of the congenital and acquired heart diseases. The proposal was submitted to the cabinet by Maithripala […]

September 18, 2014 (LBO) – Sri Lanka and China in talks to finalise a free-trade agreement which would bring substantial economic and trade benefits to the two countries, with both governments expressing hope that the deal will be implemented at an early date. China is the second largest economy in the world has reached a […]

Sep 17, 2014 (LBO)-The Government of Sri Lanka reduced the prices of fuel and electricity tariff with effect from midnight yesterday, a media report said.President Mahinda Rajapaksa announced the reduction of prices at the inauguration of Unit II of the Norochcholai Power Plant, together with Chinese President Xi Jinping. Price of a liter of petrol […]

Sep 16, 2014 (LBO) – Sri Lanka’s gross domestic product was up 7.8 percent in the second quarter of 2014 compared to 7.6 percent in the same period last year, the state statistics office said. The total economic output in Sri Lanka, measured by the Gross Domestic Product for the second quarter 2014 (April, May, […]

Sep 16, 2014 (LBO) –Sri Lanka’s Lanka Orix Leasing Company acquired a 60 percent stake in Thaneakea Phum Cambodia (TPC) a microfinance company in Cambodia, for 20.3 million US dollars, identifying the immense potential in emerging economies of the South East Asian region the company said in a media release. The LOLC Group’s business expansion […]

Sep 13, 2014 (LBO) – Sri Lanka’s Employee’s Provident Fund’s unrealized profits of the share portfolio passed 10 billion rupees on September this year, Central Bank said in a media release. Realized capital gains and dividends have amounted to 3.4 billion rupees to data this year. During the first half of 2014, there were allegations […]

Sept 10, 2014 (LBO) – Sri Lanka’s Orient Garments Ltd, a listed apparel exporter is to raise 824 million rupees through a right issue of 54.91 million ordinary shares at 15 rupees each, the company said in an announcement of Colombo Stock Exchange. The current stated capital of the company is 90.48 million rupees represented […]

September 09, 2014 (LBO) – Sri Lanka and Japan enters into a new partnership to enhance the cooperation in the maritime field recognizing Sri Lanka’s potential as a maritime nation in the Indian Ocean, a statement said. Joint Statement between Sri Lanka and Japan 1.The Prime Minister of Japan, His Excellency Shinzo Abe, paid an […]

August 30, 2014 (LBO) –Sri Lanka inflation continued its decelerating trend observed since June 2013 and reached 4.5 per cent in August 2014 compared to 4.7 per cent in July 2014, on an annual average basis the Central bank of Sri Lanka said in a media release. Within the Non-food category, prices of items in […]

August 29, 2014 (LBO) – Sri Lanka signed a Memorandum of Understanding with Seychelles in order to promote investment and business opportunities among the both countries. Through the MOU the two investment promotion agencies will share information to develop investments, Lakshman Yapa Abeywardane, Minister of Investment Promotion said. It will also build relationship between investors […]

August 29, 2014 (LBO) – Sri Lanka’s consumer prices dropped 3.5 percent in the 12 months to August 2014, with inflation compared to 3.6 percent in July, official data showed.During the month the Colombo Consumer Price Index dropped 0.05 percent on top a 1.0 percent rise in July, the state statistics office said. Sri Lanka’s […]