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Teejay grabs ‘Best Exporter Award –Textile Sector’ at Presidential Export Awards

Teejay Lanka PLC, Sri Lanka’s only multinational textile manufacturer, was adjudged the Best Textile Exporter in Sri Lanka at the 2019 Presidential …

Global financial assets fall, SL economy slows: Report

Sep 20, 2019 (LBO) - Allianz’s Global Wealth Report, which puts the asset and debt situation of households in more than 50 countries/regions under …

Enterprise Sri Lanka introduces mobile service islandwide

Sep 20, 2019 (LBO) - The Finance Ministry has made arrangments to reach the people and conduct Enterprise Sri Lanka mobile service island-wide in …

Executive Presidency abolition blocked, MPs who campaigned on abolition platform responsible

September 20, 2019 (LBO) - Last minute moves to advance proposals to abolish Sri Lanka's Executive Presidency were blocked yesterday, ironically by …

CBSL permits Sinhaputhra Finance to implement proposed capital augmentation plan

Sep 19, 2019 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to provide Sinhaputhra Finance with an opportunity to implement …

Fitch assigns SriLankan Airlines’ guaranteed USD bonds ‘B’ final rating

Sep 19, 2019 (LBO) – Fitch Ratings has assigned a final 'B' rating to SriLankan Airlines Limited's (SLA) USD175 million government-guaranteed 7 …

Mastercard Track to modernize USD125Tn global B2B payments market

Advances in technology and actionable real-time data are driving businesses to operate faster and smarter. Yet, business payments are often rooted in …

Central Bank cancels license issued to TKS Finance Limited

Sep 19, 2019 (LBO) – Sri Lanka's Monetary Board of the Central Bank has decided to cancel the licence issued to TKS Finance Limited (TKSF) to carry …

Resilient Sri Lanka reports positive GDP growth despite Easter Sunday terror attacks

September 19, 2019 (LBO) - Sri Lanka has reported GDP growth of 1.6% in the second quarter ended June 30, 2019. This positive growth has been …

Germany, an important donor and technical partner for Vocational Training: Fin Min

Sep 19, 2019 (LBO) - For over six decades, Germany has remained Sri Lanka’s most important donor and technical partner for Vocational Training, …

Sri Lanka GDP growth 1.6-pct in Q2

Sep 19, 2019 (LBO) - Sri Lanka's Gross Domestic Product (GDP) growth rate for the second quarter of 2019 has been estimated as 1.6 percent, a new …

Sri Lanka’s Presidential Election on Nov 16: Election Commission

Sep 18, 2019 (LBO) – Sri Lanka's Presidential Election will be held on November 16, Chairman of the Election Commission Mahinda Deshapriya said. …

Chinese government nominated CEIEC & ALIT but Rs2bn never paid to ALIT: Mahinda

Sep 18, 2019 (LBO) – Sri Lanka’s ex-President Mahinda Rajapaksa says that the China National Electronics Corporation and ALIT were nominated by …

USD50mn from Saudi Fund for new Medical Faculty in Sabaragamuwa University

Sep 18, 2019 (LBO) – Saudi Fund for Development (SFD) has agreed to provide a concessional loan amounting to Saudi Riyal 187.5 Million (USD 50 mn) …

PM’s says economy stabilizing: looking at leapfrog growth trajectory

Sep 18, 2019 (LBO) - Sri Lanka's Prime Minister Ranil Wickremesinghe says the government's plans to put the island on a leapfrog trajectory to growth …

Ceylon Chamber’s action plan targets USD134Bn economy in Sri Lanka by 2025

Sep 18, 2019 (LBO) – The Ceylon Chamber of Commerce on Tuesday launched the working draft of the 2020 - 25 Economic Acceleration Framework at the …

The Finance Co. still looking for potential investor; CBSL extends restrictions

Sep 18, 2019 (LBO) – Sri Lanka’s troubled The Finance Company is to call Expressions of Interest (EOIs) from potential investors and to request …

Karu Jayasuriya emerging as the UNF Presidential candidate

September 18, 2019 (LBO) - Speaker of Parliament, and one of Sri Lanka's most distinguished statesman, Karu Jayasuriya has emerged as the frontrunner …

“Sri Lankan Airlines is a vanity we cannot afford,” Fin Min says

Sep 17, 2019 (LBO) - Sri Lanka's Finance Minister, Mangala Samaraweera says State Owned Enterprises (SOE) management has become political rather than …