Author: lbostgadmin
Sri Lanka must plug into global production networks: Harsha de Silva
Aug 25, 2016 (LBO) – Sri Lanka needs to get into the game of global production networks and needs to treat trade agreements seriously, a government minister said. Deputy Foreign Minister Harsha de Silva outlined Sri Lanka’s future path as a trading nation at a panel discussion organized by the Young Professionals Organization of UNP. […]
Australia probes bribery scandals in Sri Lanka, Congo
Aug 25, 2016 (LBO) – Two Australian companies are caught up in bribery scandals that involve the offices of the presidents of Sri Lanka and the Republic of Congo, the Sydney Morning Herald has reported, an allegation Sri Lanka’s president has denied. A Fairfax Media investigation has uncovered evidence involving the Snowy Mountains Engineering Company […]
Sri Lanka should develop Indian, Chinese markets: Tourism minister
Aug 25, 2016 (LBO) – Sri Lanka will be looking towards China and India for growth, in terms of geography, while looking for niche sector growth from MICE (meetings, incentives, conventions and exhibitions) and cruise tourism, a minister said. “Our target is to further increase the growing Chinese and Indian markets,” Minister of Tourism and […]
Sri Lanka level series despite Faulkner hat-trick
Aug 24, 2016 (Reuters) – Australia’s James Faulkner claimed his maiden hat-trick but could not deny Sri Lanka a series-levelling 82-run victory in the second one-day international on Wednesday. Faulkner dismissed Kusal Perera, Angelo Mathews and Thisara Perera to achieve the feat but ended up on the losing side as Australia, chasing 289 for win, […]
Sri Lankan reforms aims to simplify tax, increase base, compliance: Minister
Aug 24, 2016 (Reuters) – Sri Lanka’s new government is drafting reforms aimed at simplifying taxes, widening the tax base and increasing compliance, Finance Minister Ravi Karunanayake said on Wednesday. “The reforms are aimed at more simplified taxes, bigger tax base, and higher compliance,” he said in an interview with Reuters. The International Monetary Fund […]
Bakeer Marker appointed chairman of National Information Center
Aug 24, 2016 (LBO) – Sri Lanka’s cabinet has approved appointing former Media Minister Imthiaz Bakeer Marker as the chairman of the proposed National Information Center for a period of two years. The centre will provide official information of the government to electronic and print media, coordinate information and act as the government’s official media […]
Sri Lanka to subsidize smallholder tea, rubber and coconut fertilizer
Aug 24, 2016 (LBO) – Sri Lanka’s cabinet has approved a fertilizer subsidy for tea, coconut and rubber smallholders who own cultivated land in extent of two hectares or less, in proportion to the extent of land cultivated annually.The proposal was made by Navin Dissanayake, minister of plantation industries, to increase the current extent of […]
Sri Lanka to regulate lubricants, bitumen through PUCSL
Aug 24, 2016 (LBO) –Sri Lanka’s cabinet has approved appointment of the Public Utilities Commission as the regulator of the lubricant industry and bitumen trade so as to increase competition in the industry in line with the 2016 budget proposals. At present 13 companies including Ceylon Petroleum Corporation and Lanka Indian Oil Company are engaged […]
Sri Lankan rupee steady; importer dollar demand offsets exporter selling
COLOMBO, Aug 24 (Reuters) – The Sri Lankan rupee was steady for an eighth session on Wednesday as exporter dollar sales were offset by importer demand for the greenback, with dealers hesitating to trade the local currency below 145.50 per dollar in anticipation of central bank intervention to defend the rupee, dealers said. The spot […]
Sri Lanka aims to build tourism momentum: OBG
Aug 24, 2016 (LBO) – Data from July indicates Sri Lanka’s tourist arrivals showing new momentum, with arrivals expanding by 19.1 percent y-o-y, the Oxford Business Group said in an economic note. Sri Lanka saw a sharp rise in tourism arrivals in the first half of the year, with inbound traffic up 16.7 percent year-on-year […]
Sri Lanka bottled water to have higher SLS standards
Aug 24, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority (CAA) will be enforcing plastic mineral water bottling standards starting September 1 following the authority detecting several brands using low quality bottles. “Low quality bottles affect the quality of water in bottles,” said Rishad Bathiudeen, minister of Industry and Commerce during a consumer review conducted […]
Markets recover post Brexit, but political uncertainty remains
Aug 24, 2016 (LBO) – U.K. retail sales data have posted a positive outcome post-Brexit supporting markets even though some political uncertainty remains. From the FTSE’s low of 5,806 points immediately after the Brexit vote, the index has rallied some 18.38 percent. Other European indexes and the STOXX 600 have also recovered, with the STOXX […]