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‘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. Nominations will be called on October 07 and the relevant Gazette notification will be issued tonight.
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 the Chinese government since contractors for projects financed by the Exim Bank of China are usually nominated by the Chinese government. Issuing a media release, the Opposition Leader says that the TRC had […]
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) to establish a Medical Faculty in the University of Sabaragamuwa. The Finance Ministry said in a statement that the balance 20.46 million dollars will be borne by the government. […]
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 so that it can become the first advanced economy in South Asia. “We are now an upper-middle income country and do we want to stagnate in the middle-income trap or […]
‘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 Sri Lanka Economic Summit. Sri Lanka is currently at a pivotal juncture where the country’s economic, social, and political trajectory is concerned. The framework is a collective aspiration and […]
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 such investors to submit their Business Restructuring Proposals to revive the company. The Central Bank said in a statement that they will facilitate The Finance Company to proceed with suitable investors […]
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 to be nominated as the UNF candidate for the Presidency. The largest party in the UNF alliance, the UNP, is likely to soon endorse Jayasuriya’s candidacy through its apex decision making body, […]
“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 professional, resulting in waste and corruption. “For example, my personal view is that Sri Lankan Airlines is a vanity we cannot afford,” the Minister said while addressing the Ceylon Chamber of Commerce Economic […]
Sri Lanka launch survival guide for tourists
Sep 17, 2019 (LBO) – A “Survival Guide for Tourists” has been launched by the independent website for tourists: “Srilankaholidayguru.com.” The website, which is produced by Rocketeer Labs, a Sri Lankan Media-Tech company based in Colombo, is dedicated to promoting tourism to Sri Lanka. Andrew Jebaraj, director at Sri Lanka Holiday Guru, says, “I got […]
President says Govt. lost Rs. 2Bn from Lotus Tower project
Sep 17, 2019 (LBO) – Sri Lanka’s President Maithripala Sirisena said that there were issues concerning the Lotus Tower project where an estimated 2 billion rupee loss was incurred to the Government. “The Lotus Tower was a tripartite agreement, the Sri Lankan and Chinese Governments were part of that agreement with another third party company […]