Tag: lbo.lk
Sri Lanka to have coordinating authority for science, technology and innovation
Jan 05, 2017 (LBO) – Sri Lanka’s Cabinet of Ministers has given the go ahead for setting up of a science, technology and innovation coordinating authority to enable better co-ordination of research and development institutions. “It will be done with the view of gaining the maximum outcome of investments made on science, technology and innovation for […]
Govt approves water and wastewater investments for Colombo
Jan 05, 2017 (LBO) – Sri Lanka’s cabinet has given the nod for a greater Colombo water and wastewater management improvement investment programme, a statement said. A contract of construction of underground reservoir in Gothatuwa with a capacity of 15000 m3, Gothatuwa pumping station and booster pump station and supply and laying of 1200 mm DI […]
Asanga Ranasinghe Appointed to LAUGFS Boards
(PRESS RELEASE) – LAUGFS Holdings, a diversified business conglomerate, announced the appointment of Asanga Ranasinghe to the Boards of LAUGFS Holdings and LAUGFS Gas PLC as Executive Director. He is also appointed as the Sector Managing Director of the Consumer and Retail cluster of LAUGFS Holdings, and further holds the position of the Group Marketing […]
Asian markets and oil up following Wall Street gains
HONG KONG, Jan 5 (Reuters) – Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve’s December meeting suggested a less hawkish stance from policymakers. Oil prices rose on expectations of drops in U.S. inventories. MSCI’s broadest index of Asia-Pacific stocks outside Japan gained 0.2 percent, on […]
Asia stocks pressured by Wall Street, dollar holds below 14-yr peak
SINGAPORE, Dec 23 (Reuters) – Asian stocks stepped back in subdued trade on Friday as Wall Street took a breather from its relentless rise since the U.S. election, while the dollar hovered below the 14-year high set earlier this week. MSCI’s broadest index of Asia-Pacific shares outside Japan , which touched a five-month low […]
Finance Min releases Rs7 bn to farmers for Maha season
Dec 21, 2016 (LBO) – The Finance Ministry will release 7 billion rupees to paddy farmers as a fertilizer subsidy during the Maha cultivation season, the ministry said in a statement. “The Finance Ministry has released 5.5 billion rupees to the Agriculture Ministry to be distributed among the farmers to purchase fertilizer for the Maha […]
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 […]