Author: LBO Admin
‘s new Banking Act to facilitate banks in Colombo Intl. Financial Centre
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank has initiated drafting a new Banking Act and expects to complete its enactment in 2021. The new Banking Act will contain provisions to extend regulations for banks, which are to be established in the Colombo International Financial Centre. Key concepts of the proposed Act include provisions […]
‘s Central Bank to maintain inflation within 4 to 6-pct
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank expects to maintain inflation within a range of 4-6 percent through a transparent, coherent, and accountable monetary policy framework going forward. Announcing the road map of the Central Bank for this year, Governor W D Lakshman highlighted that maintaining inflation at stable levels would help improve […]
Mobitel offers attractive data plans for YouTube, Facebook and WhatsApp
Understanding the rapid demand for videos, Mobitel has announced the launch of its latest proposition, offering both Pre-Paid and Post-Paid customers to stream YouTube videos limitlessly for as low as Rs 249 per month. With this new offer, Mobitel Customers can now watch their favorite Movies, TV Shows, documentaries and listen to songs by simply […]
Stern actions against discrimination of domestic tourists – SLTDA
Jan 06, 2020 (LBO) – Sri Lanka Tourism Development Authority (SLDA) cautions the licensed establishments which adopt discriminatory practices against local tourists with ‘foreigners only’ policy with stern actions. “Several complaints have been made by domestic tourists stating that they are not allowed to enter certain restaurants and hotels in the areas of Hikkaduwa and […]
‘Manufacturing in 2020: Connecting machines to networks and companies to end-consumers’
Antony Bourne – President- IFS Industries While change is buffeting the industrial manufacturing industry from a number of directions, the most disruptive changes will be those which manufacturers can and should make for themselves. Many of these manufacturers are already taking advantage of technologies like the Internet of Things (IoT) and as we head into […]
57-pct of Sri Lankans unwilling to pay higher food bill to protect local industry – Advocata Survey
A survey commissioned by the Advocata Institute in April 2019 revealed that 57% of Sri Lankans were unwilling to pay extra for food, even if it meant that the local agricultural industry would be protected. This survey covered 855 respondents in 18 districts within 8 provinces in Sri Lanka. The demographic variables considered were age, […]
VIDEO: Google and Amazon are now in the oil business
Google, Microsoft, and Amazon are teaming up with big oil to squeeze more oil and gas out of the ground using machine learning technology.
Business suspension of Perpetual Treasuries extended
Jan 06, 2020 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a primary dealer for a period of six months. The extension came with effect from yesterday in order to continue the investigations […]
VIDEO: Why capitalism needs to be reset in 2020
The FT’s Gillian Tett, Katie Martin and Andrew Hill outline the case for reinventing and reforming the model of free enterprise capitalism to deliver more profit with purpose and examine where opportunities for this change might lie in the year ahead.
Opposition demands Speaker to release forensic audit report on bond scam
Jan 03, 2020 (LBO) – Sri Lanka’s new opposition led by the United National Party on Friday demanded the Speaker Karu Jayasuriya to release the forensic audit report on the bond scam. Parliamentarians Harsha de Silva, Ravi Karunanayake, Ajith P Perera, and Lakshman Senewiratne urged the Speaker to table the document in the House without […]
We never allow others to take over our economically significant resources: President
Jan 03, 2020 (LBO) – President Gotabaya Rajapaksa says that he will never allow other countries to take over Sri Lanka’s economically significant geographic regions or physical resources. Addressing the Parliament at the ceremonial sitting, he reminded that the country’s unique position has resulted in considerable attention being given towards Sri Lanka in global geopolitics […]
Sri Lanka tea exports up in Nov 2019
Jan 02, 2020 (LBO) – Sri Lanka tea exports for November 2019 totalled 21.9 M/kgs, showing a marginal gain of 0.6 M/kgs vis-à-vis 21.3 M/kgs of November 2018, a new report showed. Packeted tea has shown a growth YOY, whilst bulk tea has remained static, Forbes and Walker Tea Brokers said in their monthly report. […]