Colombo stock market wrapped the weekly operations on an optimistic note ahead of the 19th amendment to the constitution to be presented in the parliament on Monday (20th April 2015). Main index declined to 7,067 in the opening hours but managed closed higher gaining 9.14 index points (+0.13%) to end at 7,086.41 while 20-scrip S&P…
The Commission to Investigate Allegations on Bribery or Corruption has reportedly prohibited Sri Lanka’s Central Bank Governor Arjuna Mahendran from travelling overseas. Mahendran was summoned and questioned by the Commission yesterday (16 April) for over six hours from 9.00 am over allegations of irregularities in the recent Treasury Bond issue and his statement recorded, said…
The World Bank has forecast a decline in the development of Sri Lanka’s construction industry due to the new government’s attempts to re-evaluate infrastructure development projects and hence the island’s economic growth rate would fall to 6.9 per cent in 2015 when compared to the last year. The World Bank’s South Asia Economic Focus report…
An international gem mining and jewellery, Gemfields PLC says that though the new government in Sri Lanka expects to control gemming activities in the island, it would continue its Sapphires exploration activities within the country. Gemfields PLC is listed with the London Stock Exchange and it has informed of this decision to the stock exchange….
Pakistan’s Gwadar port which has been taken over by a Chinese firm could guarantee maintenance and supply for China’s naval ships in the Indian Ocean after the new Sri Lankan government declined permission for Chinese vessels to dock in the country. “The Gwadar port will also guarantee China’s naval ships’ maintenance and supply in the…
Sri Lanka’s second Zoological Gardens and the first Open Air Zoo will be opened today. It is part of another stage of the programme mooted throughout the island on behalf of the promotion of the tourism industry. The Zoological Department in collaboration with the Ministry of Tourism and Sports took the initiative of expediting the…
The Commission to Investigate Allegations on Bribery or Corruption has recorded a statement from Central Bank Governor Arjuna Mahendran today (16 April) from 9.00 am to 3.30 pm on allegations against the recent Treasury Bills issue, say his lawyers. Recently, the Central Bank of Sri Lanka announced the issue of Treasury Bonds to the value…
Move over, Beijing. Japan now owns more U.S. government debt than any other country, ending China’s six-year run as the top foreign holder of U.S. Treasuries. Data from the Treasury Department released Wednesday show that Japan owned $1.2244 trillion worth of U.S. government securities at the end of February, compared to $1.2237 trillion for China….
Between 2011 and 2014, 700 million people became account holders at banks, other financial institutions, or mobile money service providers, and the number of “unbanked” individuals dropped 20 percent to 2 billion adults, says a new report released by the World Bank. “Access to financial services can serve as a bridge out of poverty. We…
The Central Bank of Sri Lanka has taken an unexpected move to reduce its policy interest rates which decide the interest rates of Sri Lanka’s commercial banks, from April 2015 though the government is continuing to borrow heavily to cover its expenditures. While the Central Bank of Sri Lanka has taken steps to reduce its…
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