Author: lbostgadmin
India says it is time for trade expansion
Jan 28, 2015 (LBO) – India’s Deputy High Commissioner says with the political changes in Sri Lanka ,it’s high time for both countries to expand the trade from goods to investment and service exchanges. Indo-Sri Lanka relations have been historic and diverse and with the new changes in Sri Lanka, relations can move towards new […]
Sri Lanka policy rates unchanged: Inflation to reduce further with tax cut in Jan 2015
Jan 27, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent taking in to the consideration of remaining low inflation in the island Central Bank said in its monetary policy review of January 2015. The regulator says with tax cut on fuel and other key commodities announced in […]
’s forex reserves down to US$8.3bn: Central bank
Jan 26, 2015 (LBO) – Sri Lanka’s forex reserves fell to 8.3 billion US dollars in November 2014, down from 8.8 billion US dollars in October, Central Bank data showed. The BOP for the eight months of January to August 2014 recorded a surplus of 2.1 billion US dollars data showed. The bank says the […]
’s export declines 10.7-Pct in November 2014: Central Bank
Jan 26, 2015 (LBO) – Sri Lanka’s exports declined 10.7 percent, to 921million US dollars in November 2014 from a year earlier due to decline in earnings from textiles and garments followed by rubber products ,gems, diamonds and jewellery categorized under industrial exports, the Central bank said. As the growth of imports weighed on the […]
No new vehicles for Ministers
Jan 23, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has decided no new official vehicles should be purchased, a minister said yesterday. Cabinet spokesman Rajitha Senaratne said it has been decided not to purchase vehicles for the use of President , Prime Minister ,all the Ministers and Deputies and only the vehicles available in […]
World oldest barber shop looks avenues to set up business in Sri Lanka
Jan 23, 2015 (LBO) – Truefitt and Hill, world’s oldest barber shop as certified by Guinness Book of World Records in April 2000, wants to enter the Sri Lanka market and set up shops across the country, the company said in a media release. The 200 year old barber shop is operating outlets in Beijing, […]
Sri Lanka to find billions of dollars hidden abroad
Jan 23, 2015 (LBO) – Sri Lanka government to get assistance from the International Monetary Fund (IMF), World Bank and Reserve Bank of India to track down wealth which hidden abroad belongs to the key persons of the former government, cabinet spokesman said. He said according to the calculation by minister about 700 billion rupees […]
’s new government reduces fuel prices
Jan 22, 2014 (LBO)-The new Government of Sri Lanka reduced the prices of fuel by removing tariff with effect from midnight yesterday. The decision was taken at the cabinet meeting held yesterday, the ministry of energy said in a media release. Price of a liter of petrol will be reduced by 33 rupees to 117 […]
Sri Lanka appoints a special commission to investigate corruption: Cabinet
Jan 22, 2015 (LBO) – Sri Lanka’s cabinet has given approval to establish a committee against corruption, cabinet spokesperson minister Rajitha Senarathne said today. The committee will be look into the items that have been brought for distribution during the presidential election, illegal acquisition of lands, corruption and irregularities of EFF and Colombo Stock and […]
Corruption
Jan 22, 2015 (LBO) – Sri Lanka has seized the passports of former Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal and Parliamentarian Sajin Vass Gunawardena, a media report said. The report said the Commission to Investigate Allegations of Bribery or Corruption has issued a directive to the Department of Immigration and […]
Sri Lanka to develop the economy by tax revenue management and attracting FDI: Finance Minister
Jan 21, 2015 (LBO) – Sri Lanka’s newly appointed minister of finance, Ravi Karunanayake was quoted saying that the new government will develop the economy though proper management of the tax revenue and by attracting foreign direct investment to the Island. Karunanayake said that the prime commitment of the new government is to fulfill the […]
Sri Lanka Treasury bill yields crepe up slightly
Jan 21,2015 (LBO) – Sri Lanka’s Central Bank re-issue of 10,000 million rupees maturing Treasury bills was oversubscribed with bids amounting to 27,545 million rupees being received, the bank said. 6-month yield was also up at 5.90 percent from 5.89 and 3,658 million rupees were accepted. The debt office which is part of the island’s […]