Author: Gayan Chandrasekara
‘s downgrades Sri Lanka ratings to B2 amid political crisis
Nov 20, 2018 (LBO) – Moody’s Investors Service has downgraded the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings to B2 from B1 and changed the outlook to stable from negative. The decision to downgrade the rating to B2 is driven by Moody’s view that ongoing tightening in external and domestic financing conditions and […]
SLMC, UNF pledges support to UNP leader Ranil Wickremesinghe
Oct 27, 2018 (LBO) – Sri Lanka Muslim Congress and the United National Front (UNF), the alliance formed by the United National Party on Saturday pledged its support to Ranil Wickremesinghe. Sri Lanka Muslim Congress has 7 seats in the Parliament while the United National Front led by United National Party officially has 106 seats […]
Tourist arrivals to Sri Lanka up 2.8-pct in September with largest source from India
Oct 05, 2018 (LBO) – Tourist arrivals to Sri Lanka were up 2.8 percent to 149,087 in September 2018 from a year earlier, official data showed. Last month, the largest source market for tourists was India, followed by China and the United Kingdom and almost 98 percent of tourists traveled by air to Sri Lanka. […]
Sri Lanka restricts vehicle imports for MPs, Ministries, state sector employees & others
Sept 29, 2018 (LBO) – Sri Lanka’s government in order to ease the pressure on the Sri Lankan rupee has decided to take the following measures temporarily effective from midnight today (29). – Issuing of Vehicle permits to Members of Parliament will be suspended for a period of one year. – Importation of vehicles for […]
US BUILD act passes House; aims to counter China’s debt-trap diplomacy
Sept 27, 2018 (LBO) – United States House of Representatives have approved the inclusion of the Better Utilization of Investments Leading to Development (BUILD) Act in the FAA Reauthorization Act of 2018.The House yesterday passed the Act by a vote of 398-23 and the legislation now heads to the Senate for consideration. BUILD Act is […]
Janashakthi PLC acquires 31-pct stake in Dunamis Capital
Sept 13, 2018 (LBO) – Janashakthi PLC acquired 31.14 percent in Dunamis Capital PLC, Dunamis Capital said in a stock exchange filing. Accordingly, a total of 38,294,562 ordinary shares in Dunamis Capital has been purchased at a price of 36.60 rupees per share. Janashakthi PLC now owns a total of 50,595,736 shares in Dunamis representing […]
Tourist arrivals to Sri Lanka up 5-pct in August with largest source from India
Sept 06, 2018 (LBO) – Tourist arrivals to Sri Lanka were up five percent to 200,359 in August 2018 from a year earlier, official data showed. This month, the largest source market for tourists is from India, followed by China and United Kingdom. Tourism Development Authority said almost 99 percent of tourists traveled by air to […]
Sri Lanka is monitoring Singapore FTA to address any issue: Prime Minister
Aug 10, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe yesterday said that they are monitoring and reviewing the Singapore FTA to address issues. Speaking at an award ceremony held yesterday, Wickremesinghe emphasized that if Sri Lanka wants to go global, the country must have access to the global market. “Lots of people are […]
CB Governor says bank deposit and lending rates need to come down
Aug 08, 2018 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy expressed concern on the current deposit and lending rates of the banks. Speaking at a press briefing, Coomaraswamy said it is a matter of some concern because the deposit and lending rates are as rigid as they were in the past. “In fact […]
Sri Lanka remains Human Rights Priority Country of UK with limited progress
July 16, 2018 (LBO) – Sri Lanka remains a priority country in the United Kingdom’s Annual Human Rights Report 2017. Sri Lanka is one of 30 ‘Human Rights Priority Countries’ (HRPCs); countries where the UK has serious human rights concerns and hopes to engage positively to develop human rights performance. The report acknowledges that there […]
No contribution was made by China Harbour to my election campaign: MR
July 01, 2018 (LBO) – Sri Lanka’s ex-President Mahinda Rajapaksa says no contribution was made by China Harbour Company to his 2015 presidential election campaign. Releasing a statement Rajapaksa said if any election campaign contributions had been made to him by China Harbour Company, the Port City contract would not have been restored to them and […]
SL – China FTA would result in higher gains for Sri Lankan exports: Study
May 22, 2018 (LBO) – Sri Lanka – China FTA would result in higher gains for Sri Lankan exports compared to products imported from China which are already entering Sri Lanka duty free, a recent study showed. The study carried out by the Economics Research Team of Verité Research, however, noted that the analysis is […]