Author: lbostgadmin
‘s Mattala international airport gets seven expressions of interest
Sept 26, 2016 (LBO) – The Mattala Rajapaksa International Airport (MRIA) has received seven offers for EOIs from mainly European-based aviation related firms, a media report said. The MRIA called for expressions of interest in June from investors to undertake investments and commercial operations in Hambantota through the Transport and Civil Aviation Ministry, the Sunday […]
IMF mission says delay in VAT law may postpone review
Sept 23, 2016 (LBO) – The IMF mission currently in Sri Lanka says they may have to postpone their review a bit if the proposed VAT legislation will get delayed in Parliament. The mission head Jaewoo Lee however told reporters in Colombo that it will not be necessary under the current environment. “On the submission of […]
PTL Watch: Bond yields mostly lower by 10-15 bps
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ADB to give Sri Lanka USD24.2Mn for transport feasibility studies
Sep 23, 2016 (LBO) – The Asian Development Bank (ADB) will help Sri Lanka prepare studies and designs for new road, railway, and port projects to assure the islands transport system is ready to support economic growth in the medium term. “With 24.42 million US dollars in ADB technical assistance, the Road Development Authority will […]
Sri Lanka’s Mattala International Airport feasibility cost just Rs1mn: Harsha
Sept 23, 2016 (LBO) – Sri Lanka’s previous administration has spent only one million rupees for the feasibility study of the Mattala International Airport, a Minister revealed. Deputy Foreign Minister Harsha de Silva pointed out that the then government has spent just one million rupees before wasting 350 million US dollars for setting up the […]
Uber introduces ‘Schedule a Ride’ in Sri Lanka
Sep 23, 2016 (LBO) – Uber, a global ride sharing company, will allow customers the convenience of scheduling a ride up to 30 days in advance with a ‘Schedule a Ride’ feature for its riders in Colombo, launched today. “Uber’s objective to offer accessible and reliable rides goes a notch further with the introduction of […]
Infrastructure: Sri Lanka should rethink housing for urbanizing population
Sep 23, 2016 (LBO) – Sustainable city development will need to entail alternative housing for urban poor as they are service providers for city dwellers, industrial hub and the ports while also looking at affordability for the middle income earner, a senior official said. “A paradigm shift is required. We need to rethink key areas […]
”t be fixed by monetary policy: UBS Chairman
Sept 23, 2016 (LBO) – The European Central Bank should recognize that Europe’s needs cannot be solved by monetary policy, according to UBS Chairman Axel Weber. Weber, a member of the European Central Bank Governing Council from 2004 to 2011, says monetary policy is only effective as an “interim solution or an intermediate solution.” “What […]
Asian stocks hold near 14-month peak on Fed relief
TOKYO, Sept 23 (Reuters) – Asian shares edged closer to 14-month highs on Friday while the dollar was on the defensive as investors grew more convinced that the Federal Reserve is settling into a phase of very gradual interest rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan was steady and within sight of […]
‘s Lagarde announces specific actions on women’s economic empowerment
Christine Lagarde, Managing Director of the International Monetary Fund, issued the following statement today at the conclusion of her participation in a United Nations High-Level Panel on “Women Economic Empowerment” on the sidelines of the UN General Assembly: “It is a great pleasure to participate in the official launch of the commitments and work of […]
Sri Lanka’s CIFL awaits response from German investor for bailout
Sept 23, 2016 (LBO) – Sri Lanka’s troubled Central Investment and Finance Company says they are awaiting a response from a prospective German investor indicating their future plan of action to revive CIFL. In a stock exchange filing, the company said they submitted all clarifications to the investor delegation who visited the island recently. A […]
‘s solar energy drive
COLOMBO (Thomson Reuters Foundation) – An ambitious plan by the Sri Lankan government to outfit 100,000 homes with solar panels, to turn them into power producers for the national grid, may be too expensive for many families to afford, experts warn. Sri Lanka’s government this month launched a “battle for solar energy” that aims to […]