Author: Gayan Chandrasekara
JVP declares Anura Kumara as their presidential candidate
Aug 18, 2019 (LBO) – Sri Lanka’s Marxist Janatha Vimukthi Peramuna (JVP) today declared its leader Anura Kumara Dissanayaka as their presidential candidate during a rally held at the Galle Face Green. National People’s Power, under the leadership of the JVP and 28 other political & civil organizations is set to contest at the upcoming […]
Mahinda officially names Gotabaya as their presidential candidate
Aug 11, 2019 (LBO) – Opposition Leader Mahinda Rajapaksa today officially named former Defence Secretary Gotabaya Rajapaksa as the presidential candidate of Sri Lanka Podujana Peramuna. Leadership of the party ceremoniously handed over to Mahinda Rajapaksa during the inaugural convention held at the Sugathadasa Indoor Stadium. Speaking at the National Convention, ex-President Rajapaksa said that […]
Cabinet approves amendments to Nation Building Tax & Value Added Tax
Aug 06, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has approved the tax amendments proposed by the Finance Minister Mangala Samaraweera in his Budget 2019. Accordingly, the Cabinet has approved the Amendment Draft Bills on Nation Building Tax and Value Added Tax (VAT). The Finance Ministry said all the amendments, once drafted by the […]
BOI to take action against Hayleys Free Zone Ltd for failed waste re-exports
July 19, 2019 (LBO) – Sri Lanka’s Board of Investment is to take stern action against Hayleys Free Zone Limited for failing to meet commitment laid out in their BOI agreement. The BOI has permitted Hayleys Free Zone Limited in May 2014, to operate an integrated logistics center and entrepot trading as permitted activities within […]
Sri Lanka reserves improve to USD 8.9bn by end June; YTD rupee appreciation 4.1-pct
July 11, 2019 (LBO) – Sri Lanka’s gross official reserves have reached 8.9 billion US dollars by end June 2019, following the receipt of 2 billion US dollars from the issuance of ISBs, providing an import cover of 5.1 months, the Central Bank said. The successful issuance of the International Sovereign Bonds (ISBs) in June […]
Ground handling, aviation fuel, and embarkation levy reduced for 6 months to boost tourism
Jul 09, 2019 (LBO) – Sri Lanka Tourism Development Authority together with the Prime Minister’s office, the Minister of Tourism, Wildlife and Christian Religious Affairs, John Amaratunga and the Civil Aviation Authority of Sri Lanka tabled a cabinet paper and received the approval for the reduction of ground handling charges, aviation fuel, and the embarkation […]
Sri Lanka tourist arrivals picking up; 66-pct increase in June from May
July 03, 2019 (LBO) – Tourist arrivals to Sri Lanka increased by 66 percent in the month of June 2019 from the previous month, the latest data from the Tourism Ministry showed. The total number of international tourist arrivals to Sri Lanka during June was 63,072, up from 37,802 reported in May just after the […]
World Bank classifies Sri Lanka as upper-middle income country under new revision
Jul 02, 2019 (LBO) – Sri Lanka has moved up to the upper-middle income category from lower-middle income category under the World Bank’s new country classification by income level. As of July 1, 2019, under the new revision, Sri Lanka’s Gross National Income (GNI) per capita is 4,060 US dollars, up from 3,840 dollars reported […]
Moody’s cuts SL GDP forecast to 2.6-pct amid challenges of tourism, debt refinancing
Jun 20, 2019 (LBO) – Moody’s Investors Service have revised down their 2019 real GDP forecast to 2.6 percent from the previous estimate of 3.4 percent based on prospects for lower tourism arrivals and spending. Terrorist attacks of April 2019 will curb tourism, adding pressure to public and external finances, the firm said in their […]
Central Bank will impose lending cap if Sri Lanka banks do not cooperate: CBSL Chief
Jun 03, 2019 (LBO) – Sri Lanka’s Monetary Board would need to consider whether they impose a lending cap if the banks are not cooperative enough to reduce the high lending rates, Central Bank Governor Indrajit Coomaraswamy warned. The Central Bank recently imposed a cap on deposit rates with the intention of bringing down lending […]
New Chairman for SLTDA; Kishu Gomes to focus on Sri Lanka Tourism brand promotion
May 15, 2019 (LBO) – Sri Lanka’s Tourism Minister John Amaratunga has appointed Johanne Jayaratne as Chairman of the Sri Lanka Tourism Development Authority (SLTDA). Jayaratne up to the time of his new appointment served as Managing Director of the Sri Lanka Tourism Promotion Board (SLTPB). Kishu Gomes who served in the position of Chairman […]
Sri Lanka to issue visa on arrival to tourists from 39 countries
Apr 05, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has approved a proposal to issue visa on arrival to tourists visiting the island from 39 countries. Cabinet has decided to issue these visas on gratis basis as an incentive to attract tourists. The programme will be a pilot project effective for an initial period of […]