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Treasury approves bonus payments for employees of statutory bodies
Dec 12, 2019 (LBO) – Sri Lanka’s Treasury has approved the payment of bonuses for 2019 for the employees of state-owned statutory bodies and fully state-owned companies. The Treasury has issued a circular in this regard to all Secretaries to Ministries, Heads of fully state-owned companies and state-owned statutory bodies. The circular No: 03/2018 of […]
New pathway – Dual Membership for CA Sri Lanka students
Dec 12, 2019 (LBO) – A landmark agreement is scheduled to be signed to provide a new pathway to students of CA Sri Lanka on 16 December together with the Institute of Chartered Accountants in England and Wales (ICAEW). The agreement allows CA Students to obtain the membership of the most prestigious professional accountants organisation […]
BASL condemns recent references made to role of Judges & prosecutors
Dec 12, 2019 (LBO) – The Bar Association of Sri Lanka condemns recent statements made with reference to concluded cases, pending litigation, role of Judges, role of prosecutors and the right of representation relating to litigants who are parties to court. It is a basic tenet in our criminal justice system that every suspect or […]
Sri Lanka to benefit from US “Clean Cities, Blue Oceans” global initiative
Dec 12, 2019 (LBO) – The United States Agency for International Development (USAID), On December 5, launched its “Clean Cities, Blue Ocean” (CCBO) program in Sri Lanka and the Maldives, the most recent countries to join this flagship initiative to mitigate ocean plastic. CCBO is a 48 million dollar, a five-year global initiative that helps […]
The new oil of the 21st century: Sri Lanka’s need for data scientists
Malitha Goonaratne In 2012, the Harvard Business Review named being a ‘data scientist’ the “The Sexiest Job of the 21st Century”. If that is not appealing enough, it is estimated that by 2020, there will be 40 trillion gigabytes (40 zettabytes) of data created. In comparison, in 2018 there were 18 trillion gigabytes (18 zettabytes) […]
‘t tell you about Sri Lanka
By Lanka Property Web What is Sri Lanka? Ceylon, Serendib, Taprobane, Pearl of the Indian Ocean and The Teardrop of India. It is a member of the South Asian Association for Regional Corporation (SAARC). A country that gained victory from a 30 year-long civil war and now, is the proud owner of Nelum Kuluna; The […]
New Japan Foreign Minister Toshimitsu Motegi to visit Sri Lanka
Dec 12, 2019 (LBO) – Newly appointed Japanese Foreign Minister Toshimitsu Motegi is to arrive Sri Lanka today for a three-day official visit to discuss the Free and Open Indo-Pacific (FOIP) policy with the new Sri Lankan leadership. Sri Lanka’s Ministry of Foreign Relations said the visiting Minister will meet with his Sri Lankan counterpart […]
Sri Lanka should list SoE and increase transparency
Dec 11, 2019 (LBO) – A top emerging markets investor said the Government should look at listing state enterprises to attract capital. He said that it will expose their balance sheets and open them for scrutiny. “Sri Lanka Insurance, state banks, rail and airport would be a good start.” Dr. Mark Mobius, speaking at a […]
Mark Mobius says Sri Lanka has foreign investors appeal for tourism, fin-tech and real estate
Dec 11, 2019 (LBO) – Emerging markets investor, Dr. Mark Mobius highlighting Sri Lanka’s strengths said he sees immense growth potential in the island as the economy has with regards to foreign investor appeal. Admitting that while Sri Lanka’s agri-based economy has always held global interest -especially with tea as its strongest brand and commodity- […]
Fiscal stimulus will boost demand in short-run but create instability in long-run: ICRA
Dec 11, 2019 (LBO) – The Government of Sri Lanka (GoSL) reduced variety of taxes substantially in an attempt to revive the economy, which could possibly cost over LKR 500 Bn according to government’s own estimates. Whilst acknowledging the potential boost to the aggregate demand and corporate profitability from the fiscal stimulus in the short-run, […]