Author: lbostgadmin
Korea eyes investment opportunities in Sri Lanka
In an effort to boost investment and trade between Sri Lanka and the Republic of Korea, the Korea Trade-Investment Promotion Agency (KOTRA) and the Export-Import Bank of Korea (Korea Eximbank) are exploring the possibility of increasing Korean companies’ investing in Sri Lanka whose economy has recorded more than a 6% of GDP growth rate annually […]
Sri Lanka stocks close up 1.5-pct; Continued foreign in-flow
Mar 10, 2016 (LBO) – Sri Lankan stocks closed up 1.46 percent after two consecutive days of losses with gains in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed at 5,862.35, up 85.88 points or 1.46 percent. The S&P SL20 closed 50.54 points at 3,143.46 up 1.63 percent. Turnover […]
Sri Lanka Meagapolis Authority Act to parliament in two months
Mar 09, 2016 (LBO) – The legal act for Sri Lanka government’s hallmark Megapolis development is now drafted and will be presented in parliament soon, a senior official said. “We hope to bring the Megapolis Act to the legislature in the next two months,” Ranjith Fernando, chairman of the Urban Development Authority said. “This act […]
Thailand calls for FTA with Sri Lanka; triple bilateral trade by 2020
Mar 10, 2016 (LBO) – Thailand, South East Asia’s second largest economy has officially called for an FTA with Sri Lanka as both countries pushing for a three-fold increase in bilateral trade by 2020. Bilateral trade between Sri Lanka and Thailand hovered at 500 million US dollars in 2015. “Thailand is proposing a Free Trade […]
‘s leading trade show
The Sri Lanka Pavilion was a big draw at the world’s largest travel and trade show, ITB which opened in Berlin yesterday (9). This year’s ITB is of special significance to Sri Lanka as it is the 50th consecutive year the country is participating at this show. Incidentally ITB and Sri Lanka Tourism are both […]
Standard &’s revises Sri Lanka outlook to Negative
Mar 10, 2016 (LBO) – Standard & Poor’s Ratings Services on Thursday revised the outlook on its ‘B+’ long-term sovereign credit ratings on Sri Lanka to negative from stable on rising fiscal and external imbalances . “We also affirmed the long-term rating and the ‘B’ short-term credit rating and left our transfer and convertibility risk […]
Sri Lanka extends Colombo Port City Project agreement by 6 months
Mar 10, 2016 (LBO) – The cabinet has approved the extension of the agreement on Colombo Port City development project agreement for a further period of six months from 15 March 2016. The Cabinet Committee on Economic Management has recommended allowing resumption of the project subject to limitations and conditions stipulated in the EIA report. […]
Government proposals may lead to lubricant market fragmentation: Chevron
Mar 10, 2016 (LBO) – Chevron Lubricants Lanka, a leader in the island’s lubricant industry says the market may be at risk of further fragmentation as the government proposed to open up the lubricant market. “We have concerns about the 2016 budget proposals in respect of the lubricant industry,” said Kishu Gomes, Chief Executive Officer […]
Sri Lanka bought planes instead of building houses: PM
Mar 10, 2016 (LBO) – Sri Lanka’s Prime Minister said on Thursday the nation is plagued with incompetencies of the former regime and the homeless could have been housed with the funds mishandled. “If they (the former government) did not buy those eight planes then we could have built houses for the people,” Premier Ranil […]
‘s Day Celebration in Bangalore
A group of Sri Lankan students living in Bangalore represented their country at the International Women’s Day Celebration organized by the Federation of Karnataka Chambers of Commerce & Industry held on 8th March 2016 at a gala event in Bangalore. “Bangalore had always been my second home and I always wanted to take part in […]
Business Conclave: Why invest in Sri Lanka?
March 10, 2016 (LBO) – “This is the best time to invest in Sri Lanka,” Minister of Finance Ravi Karunanayake urged at the successful Investment and Business Conclave 2016 organised by the Ceylon Chamber of Commerce, raising the question ‘Why is it the best time to invest in Sri Lanka?’ Admitting that everything is not […]