The Government of Japan has agreed to provide a grant of Rs. 3.74 billion to help improve Sri Lanka’s fisheries, roads, SME and medical sectors.
Accordingly, out of the total grant, Rs. 1.38 billion will be used to procure a self propelled grab hopper dredger to help the local fisheries industry.
Rs. 1.31 billion will be pumped [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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By: Prasanna C. Rodrigo
Sri Lanka has issued a notice inviting oil and gas companies to submit bids to explore and produce oil and gas in the Island’s Cauvery and Mannar Basin.
The Country’s Petroleum Resources Development Secretariat says, it will offer up to 13 potential oil blocks to successful bidders.
“Technically and financially competent foreign and domestic [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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Sri Lanka’s Treasury bill rates at the weekly auction held today saw rates marginally moving up in all tenors, as the Central Bank accepted Rs. 27.9 billion worth bids to settle Rs. 20 billion worth maturing treasury bills.
Auction received bids running up to Rs. 45.50 billion.
Both the three month and the six month tenor bills, [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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China’s EXIM Bank has agreed to provide a US$ 278.2 million loan to Sri Lanka to construct a railway line from Matara to Belliatta, located in the Island’s Port City of Hambantota.
The 27km long railway line is the first phase of the proposed rail track, which is to be laid between Matara and Kataragama.
Ministry of [...]
March 7, 2013 5:00 PM | Posted in
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The Industrial Association of Sri Lanka and the All India Association of Industries has entered into an MOU to enhance economic and commercial links between the two nations.
A statement issued by the IASL says, the MOU will focus on promoting and strengthening, bilateral trade, investments, technology transfer, joint ventures and collaborations between the IASL and [...]
March 7, 2013 5:00 PM | Posted in
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Sri Lankan Government has given its approval to allow the Singapore based Peak Energy to build a Polyethylene Terephthalate Manufacturing plant in the port city of Hambantota.
The Singaporean firm has already registered a new firm in Sri Lanka under the name of Hambana Petrochemicals Private Limited, which will bring in an initial investment of US$ [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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By: Prasanna C. Rodrigo
Sri Lanka says, it feels that the abandoned well by the oil explorer Cairn Lanka has not been fully tested and is yet to find out the hydrocarbon potential of that particular unit.
The Head of the Island’s Petroleum Resources Development Secretariat, Saliya Wickramasuriya, in an e-mail interview with News360.lk said, [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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Sri Lankan state banks will provide a loan of Rs. 1.79 billion for the government to purchase paddy produced during the 2012-13 Maha Season.
Accordingly, People’s Bank will provide a sum of Rs. 816 million, Bank of Ceylon, an amount of Rs. 391.59 million, National Savings Bank, a sum of Rs. 384 million and the Regional [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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Sri Lanka’s inflation in February rose to 9.8% compared to 2.7% recorded an year ago.
In January 2013 too the Island nations inflation rose to 9.8%.
The annual average inflation during February stands at 8.6%.
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March 7, 2013 5:00 PM | Posted in
Economy |
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President of the Asian Development Bank Haruhiko Kuroda has decided to step down from his post with effect March 18, 2013.
The Manila based Bank in a statement issued announced that Kuroda is resigning to take up the position of the Governor of the Bank of Japan.
ADB says, an election to choose a successor to complete [...]
March 7, 2013 5:00 PM | Posted in
Economy |
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