Author: LBO Admin
MarCom collective commissions Ernst & Young to study industry’s economic significance
Jun 08, 2020 (LBO) – The MarCom Collective has commissioned Ernst and Young Sri Lanka (EYSL) to undertake a comprehensive study on the country’s marketing communications industry and its contribution to the Sri Lankan economy. The Collective is a group of associations, businesses and professionals from the marketing and advertising industry that came together following […]
Roadmap to post-COVID-19 economic recovery
Jun 08, 2020 (LBO) – What is Sri Lanka’s strategy to help the country’s economy recover? What should our policy priorities be, both medium and long term, to enable a post-pandemic rebound? Join The Chamber Academy’s discussion on the Roadmap to Post-COVID-19 Economic Recovery, and engage with economic experts on 12 Friday, from 11-12:30pm. The […]
Standard Chartered supports MAS Intimates’ combat against COVID-19
Jun 08, 2020 (LBO) – Standard Chartered announced today that MAS Intimates (Pvt) Ltd., a division of MAS Holdings, became the first company in South Asia to complete a drawdown under the Bank’s USD1 billion COVID-19 financing commitment. The Bank extended a USD11 million loan to Sri Lanka-based MAS Intimates to facilitate the purchase of […]
All possible measures are taken to ensure safety of deposits: CB Governor
Jun 07, 2020 (LBO) – Sri Lanka’s Central Bank assures the general public that it will continue to take all possible measures to ensure the safety of public deposits. Releasing a statement, the Governor of the Central Bank Professor W.D. Lakshman said that they remain committed to keeping the deposits of the general public safe […]
Opinion: A new deal for Sri Lanka
By Mangala Samaraweera: The worst economic crisis since Independence is upon us. For some decades now the grim clouds of debt, waste and corruption have been gathering over our island. Now – as this fearsome storm of the Corona virus unleashes its fury – anguish and desperation, grief and sorrow, fear and rage, will engulf […]
Lebanon to conduct free PCR tests for Sri Lankans seeking to be repatriated
Jun 06, 2020 (LBO) – The government of Lebanon has agreed to conduct free PCR tests for Sri Lankans seeking to be repatriated, the Ministry of Foreign Relations said. In line with the Sri Lanka policy on repatriating Sri Lankans overseas, Ambassador Shani Calyaneratne Karunaratne had discussions with the Lebanese Minister of Labour, Madame Lamia […]
Sri Lanka’s budget transparency: improving but still behind international standards
Jun 05, 2020 (LBO) – The Open Budget Survey (OBS) scores countries on the openness of their budget process and is the world’s only independent assessment of information disclosure in public budgets. The survey is conducted every two years. The 2019 cycle of the OBS has placed Sri Lanka 54th out of 117 countries, with […]
First phase of compensation payment for The Finance Company depositors
Jun 04, 2020 (LBO) – The Central Bank has taken steps to pay compensations up to 600,000 rupees to all insured depositors of The Finance Company (TFC) as per the Regulations of Sri Lanka Deposit Insurance and Liquidity Support Scheme. The Central Bank said in a statement that the balance amount if any will be […]
Presidential Task Force for establishing a secure country & lawful society
Jun 03, 2020 (LBO) – Sri Lanka’s President Gotabaya Rajapaksa has established a Presidential Task Force to build a Secure Country, Disciplined, Virtuous and Lawful Society in accordance with the powers vested in him by Article 33 of the Constitution. Secretary to the Ministry of Defence, Major General (Retired) Kamal Gunaratne has been appointed as […]
Economic Zone:A catalyst for modern services in Sri Lanka
Jun 03, 2020 (LBO) – The Lakshman Kadirgamar Institute of International Relations and Strategic Studies (LKI), is set to discuss the topic of “Port City Special Economic Zone– A Catalyst for Modern Services in Sri Lanka” on Thursday, 04 June 2020, during a webinar titled “Colombo Port City: Potential growth impact for Sri Lanka” hosted […]
‘s construction projects expected to pickup and stick to timelines:ICRA
Jun 3, 2020 (LBO) – Sri Lanka’s construction sector is expected to demonstrate resilience compared to other economic sectors, a new report said. The construction projects are expected to gradually pickup pace and broadly stay within the original timelines, ICRA Lanka said. “Current domestic raw material production level and inventories are expected to sustain ongoing […]
National tea sales average up in May 2020
Jun 03, 2020 (LBO) – National average for the month of May 2020 totalled Rs. 697.57, the highest ever recorded for a calendar month surpassing the previous best of Rs. 689.18 recorded in April 2020, a new report says. In comparison to May 2019 average of Rs. 539.55, shows a significant increase of Rs. 158.02 YOY, Forbes and […]