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‘s new rulers confident of regaining GSP Plus next year: Harsha de Silva
Apr 30, 2015 (LBO) – Sri Lanka’s new administration is confident about retrieving the GSP plus trade concessions by mid or late next year, Harsha de Silva, Deputy Minister of policy planning and economic development said. “We are trying to get GSP plus back and I am very happy to report to you that we […]
Sri Lanka’s business chamber welcomes Constitutional amendments but cautious about committee stage amendments
Apr 30, 2015 (LBO) – Sri Lanka Ceylon Chamber of Commerce welcomes the enactment of the 19thAmendment to the Constitution, to improve democratic ideals but cautions that the committee stage amendments to increase the number of Parliamentarians in the composition of the Constitutional Council has the potential to compromise its independence. In a statement Ceylon […]
‘s Parliament has no legitimacy: Must dissolve immediately – Eran
Apr 30, 2015 (LBO) – Sri Lanka’s Parliament has no legitimacy and must be dissolved immediately, Deputy Minister of highways, higher education and investments promotions, Eran Wickramaratne said in a statement. The full statement reproduced below Factions of the UPFA today went against the wishes of the people by diluting one of the most important […]
Sri Lanka’s Central Bank to get US$400mn currency swap today
Apr 30, 2015 (LBO) – Sri Lanka’s Central bank said, that a 400 million US dollar currency swap by the Reserve Bank of India will be available to the Island today.Accordingly, a currency swap agreement between the two Central Banks was signed on 25th March, this year whereby 400 million US dollars was made available […]
Sri Lanka economy grows 7.4-pct in 2014; fiscal deficit increases: CB Annual Report
Apr 29, 2015 (LBO) – Sri Lanka’s economy has grown 7.4 percent in 2014 despite overall fiscal deficit has increased to 6 percent last year, releasing the 2014 annual report, the Central Bank said. “The government aimed to reduce the fiscal deficit to 5.2 per cent of GDP in 2014 from 5.9 per cent of […]
‘s Chamber of Commerce welcomes 19th amendment; concerns over constitutional council
Apr 29, 2015 (LBO) – Sri Lanka’s Chamber of Commerce has welcomed the enactment of the 19th amendment to the constitution saying it improves democratic ideals. Issuing a press release the Chamber has hailed the crucial roles played by the President, Prime Minister and the leaders of all political parties in arriving at a consensus; […]
‘s United National Party corrects historical mistake: Ravi Karunanayake
Apr 29, 2015 (LBO) – Sri Lanka’s largest single political party on Tuesday corrected its historical mistake by passing the 19th amendment to the constitution, Finance Minister Ravi Karunanayake said.”We are the ones who created the Executive Presidency. We accept that it was indeed a mistake.But taking a long time to correct that mistake was […]
‘s President says “Thank You everyone for contributing towards passing 19A”
Apr 29, 2015 (LBO) – Sri Lanka’s President, Maithripala Sirisena thanked all the parliamentarians who supported the adoption of the 19th amendment to the constitution with two-thirds majority, a statement said. Sri Lanka’s Parliament on Tuesday approved the second reading of the much awaited 19th amendment with a two third majority. 215 parliamentarians voted in […]
Sri Lanka’s growth model needs to be modified: Economist
Apr 29, 2015 (LBO) Sri Lanka needs to rethink its growth model as the current system is severely constrained due to the Island’s fragile debt dynamics, a senior economist said. Over the last 6 7 years, Sri Lanka’s growth model has been based on commercial external borrowing led infrastructure development, Indrajit Coomaraswamy, Deputy Chairman of […]
Sri Lanka enacts constitutional amendment; executive powers diluted
Apr 28, 2015 (LBO) – Sri Lanka’s Parliament on Tuesday passed the third reading of the 19th amendment to the constitution with 212 votes in favor and one against it.Dr. Sarath Weerasekara voted against it and Ajith Kumara abstained.Ten parliamentarians were absent. “This is a historical moment.We thank the President, Speaker, Opposition Leader, every parliamentarian […]