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(Lee Kuan Yew Example 01) Difference of Singapore’s politicians and ours–Video Interview

The first episode in a special series of interviews with Consultant Engineer Sam Samarasinghe, who has provided consultancy services to Singapore’s unique leader Lee Kuan Yew’s government when building the city state.

(0)Comments | May 30, 2015 1:42 pm

CB Governor on depreciation of Sri Lankas rupee

The Sri Lankan Rupee is depreciating against the US dollar since the dollar is strengthening, says Governor of the Central Bank of Sri Lanka Arjuna Mahendran. When questioned during a media briefing about the current depreciation of the Sri Lankan Rupee, the Central Bank Governor said that this is not an internal issue pertaining to…

(0)Comments | May 29, 2015 5:31 pm

‘I’m a humble person,’ says Arjuna Mahendran during media briefing with Minister Ravi K

During a media briefing at the Finance Ministry this morning, journalists raised several questions from Central Bank of Sri Lanka Governor Arjuna Mahendran over irregularities said to have occurred in the Central Bank’s controversial 30 year Bond issue. In response, the Governor said that he cannot comment on the issues since investigations are still ongoing….

(0)Comments | May 29, 2015 5:16 pm

Volatility returns to the stock market

Volatility returned to the market on Friday to wrap the weekly activities on a negative note. Benchmark All Share Price index lost 35.42 points or 0.49% to end at 7,220.29 while S&P SL index lost 34.38 points (-0.85%) to end at 4,000.66. Today’s losses were mainly driven by price declines in primary blue chip counters…

(0)Comments | May 29, 2015 5:15 pm

Central Bank launches US$ 650 million International Sovereign Bond Issue

The Central Bank of Sri Lanka (CBSL) launched and priced a US$ 650 million 10-year International Sovereign Bond (Issue) at a yield of 6.125 per cent per annum. The Issue represents the eighth US Dollar benchmark offering in the international bond markets by Sri Lanka since 2007. Citigroup Global Markets Inc., Deutsche Bank, The Hong…

(0)Comments | May 29, 2015 10:49 am

Sri Lanka cannot be a China or Vietnam: An Economic Science lesson to political liars

Sri Lanka is currently stuck in a position while being unable to compete against countries with lower labor costs or labor productivity. If to emerge from this trap, Sri Lanka has to go for reforms immediately, warns an economic academic. Dr. Indrajit Coomaraswamy points out that Sri Lanka is unable to compete with countries like…

(0)Comments | May 29, 2015 10:36 am

ADB, Government sign $107 million loan agreement for roads

Asian Development Bank (ADB) and the Government of Sri Lanka signed the $107 million second tranche loan agreement of an $800 million multi-tranche financing facility to upgrade roads. “Providing all-weather road access will help link rural communities to socio-economic centres in Sri Lanka, thereby enabling rural communities to reap and enjoy the fruit of economic…

(0)Comments | May 29, 2015 10:30 am

Sri Lanka marketing 10-yr dollar bond to yield 6.375%

The Democratic Socialist Republic of Sri Lanka is marketing 10-year US dollar bonds to yield around 6.375%. Citigroup, Deutsche Bank, HSBC and Standard Chartered are arranging the offering, which is expected to raise at least $500 million. The island nation last issued offshore bonds in April last year, pricing a $500 million five-year bond to…

(0)Comments | May 28, 2015 3:12 pm

SriLankan’s latest batch of Cadet Pilots earn their Wings

SriLankan Airlines latest batch of cadet pilots were awarded their “Wings’ when they passed out as Junior First Officers at a Wings Ceremony which was held at the Airline Centre recently. A total of two batches graduated at the ceremony having undergone a stringent one-year training programme before qualifying to fly with the national carrier…

(0)Comments | May 28, 2015 11:15 am

Sri Lanka has tremendous opportunities in carbon reduction

Reducing the carbon footprint in organizations and companies will have long-lasting environmental and economic benefits not only to individual organizations but to the nation at large, one of country’s pioneering carbon reduction consultancy firms – Somaratna Consultants announced. “The announcement by the Ministry of Power and Energy to reduce the carbon footprint of the energy…

(0)Comments | May 28, 2015 10:16 am