Author: lbostgadmin
Sri Lanka get ¥ 550mn Japanese grant to develop rail network and agricultural facilities
Apr 03,2015 (LBO) – Sri Lanka’s Cabinet spokesmen Rajitha Senaratne said, the government of Japan has agreed to provide grant assistance under non- project grant aid amounting to Japanese Yen 500 million or 550 million rupees for Japanese equipment to develop the islands railway network and agricultural facilities. The equipment to be obtained under this […]
Sri Lanka new rulers to enact laws to punish those who make “Hate Speech”
Apr 03, 2014 (LBO) – Sri Lanka’s new rulers’ plan to revise the Penal Code that would make Hate Speech, a punishable offence, Cabinet Spokesman Rajitha Senarathne said Friday. “Those who make hate speech will be punished by two years in prison,” Senanrathne told reporters at a media briefing held in Colombo.The lessons learnt and […]
SriLankan, a corrupted airline without any aircrafts as assets: PM
Apr 02, 2015 (LBO) – State owned SriLankan airlines is a huge burden on the country even though it does not own any aircraft’s at present, Prime Minister Ranil Wickremesinghe said. Accepting the first copy of a report on SriLankan Airlines, Wickremesinghe told reporters Wednesday that the procurement procedure and power abuse was comprehensively investigated […]
Sri Lanka has over Rs 300bn unpaid road develpment bills: “We are in a major mess”: Kabir Hashim
Apr 02, 2015 (LBO) – Sri Lanka’s Minister of Highways and Investment Promotion says, the government has over 300 billion rupees of bills to be paid for unsolicited proposals and contracts without agreements for roads building. “That’s a colossal amount,” Kabir Hashim, Minister of Investment Promotion and Highways told reporters at a press conference held […]
Sri Lanka stocks close up 0.5-pct
Apr 02, 2015 (LBO) – Sri Lanka’s stocks closed higher for the third consecutive day with Access Engineering gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 32.06 points higher at 6,948.14 up 0.46 per cent. The S&P SL20 closed 8.91 points higher at 3,909.58 up 0.23 per cent. […]
Sri Lanka is dreaming of Singapore and living in Ethiopia: Finance Minister
Apr 02, 2015 (LBO) – Sri Lanka’s Finance Minister says even though the customs department started 24 seven operations last month, the service has not been used to the maximum by the importers and exporters, which is like dreaming of Singapour and living in Ethiopia.“We have brought Singapore access through the Customs extending their services […]
”” rating:Fitch
Apr 02, 2015 (LBO) – Sri Lanka’s Amana Bank PLC’s has been rated at ‘BB(lka), National Long-Term Rating ‘ with a Stable Outlook, Fitch rating said. KEY RATING DRIVERS Amana’s rating reflects its small and developing domestic franchise, and limited track record. The bank started operations in 2011 as a Sharia-compliant bank and accounted for […]
Sri Lanka should look at regional trade and be less Europe centric: Official
Apr 02, 2015 (LBO) – Sri Lanka should look at diversifying its export market from its Europe centric and north American trade habits and move towards exploring a more lucrative regional export markets, a senior official said. “That Europe centrist approach is still there in Sri Lanka, simply because it is the number one market […]
Sri Lanka to attract more Chinese tourists
Apr 02, 2015 (LBO) – Sri Lanka plans to attract more Chinese tourists through a recently launched marketing strategy by Sri Lanka Tourism with a private- public partnership focusing only on China. “If we can build the new markets in china like Sichuan province which has 90 million people including two million who travel overseas […]
Sri Lanka’s BOI Chief says paperless operation reduces malpractices
Apr 01, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) Chief said, recently introduced electronic commerce or paperless operations helps to reduce malpractices in work place.Upul Jayasuriya , chairman of the Board of Investment of Sri Lanka was quoted as saying, that he was favourable to the paperless operations by introducing advanced Information Technology […]