Author: lbostgadmin
‘s foreign debt servicing rises steadily
May 01, 2016 (LBO) – The amount Sri Lanka has spent on external debt repayment and interest has more than doubled over the last five years, Central Bank data shows. Earnings from exports, however, have not grown as much. Debt service payments increased to 4.7 billion dollars in 2015 from 1.8 billion dollars in 2011, […]
Colombo inflation accelerates 3.1-pct in April 2016
Apr 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 3.1 percent in April 2016 from a year earlier, up from 2.0 percent in March 2016 with the inflation index gaining 1.3 percent in the month, the state statistics office said. The Year on Year inflation of Food Group has increased […]
Interview: Across distant seas, Sri Lankans, Swedes explore cultural differences
Apr 29, 2016 (LBO) – Sweden, a land of the ancient Vikings, perched in icy northern seas, is as far away from the tropical island of Sri Lanka as one can imagine. One would expect cultural differences when modern investors cross the oceans in search of trade and opportunities, and reach Sri Lanka — a […]
PTL Watch: Sri Lanka bond yields drop on IMF news
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Sri Lanka’s deal with IMF has 3 benefits for external financing profile: Moody’s
Apr 29, 2016 (LBO) – Sri Lanka’s 1.5 billion US dollars deal announced today with the IMF will have three benefits for Sri Lanka’s external financing profile, issuing a statement Moody’s Investors Service said.Marie Diron, Senior Vice President, Sovereign Risk Group, Moody’s Investors Service, and the lead sovereign analyst for Sri Lanka highlighted the three points as […]
Sri Lanka reaches USD1.5Bln support deal with IMF
Apr 29, 2016 (LBO) – Sri Lanka has reached a technical agreement with the International Monetary Fund for 1.5 billion dollars, a statement said. The loan program will need approval by the IMF’s executive board, which is due to consider it in early June. Once approved it is “expected to catalyze an additional 650 million […]
LAUGFS Eco Sri, first to be ISO 14001 certified in emission services in South Asia
LAUGFS Eco Sri, the first to introduce air quality management and a pioneer in eco solutions in Sri Lanka, recently became the first organization in the South Asian region to receive the ISO 14001 certification in emission services. The award ceremony held at the Sri Lanka Standards Institution was attended by top management of LAUGFS […]
No reason to keep exporter’s money abroad: Central Banker
Apr 28, 2016 (LBO) – Sri Lankan exporters do not have a clear reason to keep their money abroad as the Central Bank has already removed restrictions on foreign currency withdrawals from foreign currency accounts, a senior official said. Deputy Governor of the Central Bank Nandalal Weerasinghe speaking at an event said the exporters will […]
Unreasonable tax increases to be enforced after May Day: MR
Apr 28, 2016 (LBO) – Sri Lankan general public will have to suffer from unreasonable tax increases that are to come into effect from 2 May 2016, Former President Mahinda Rajapaksa said. Releasing a statement Rajapaksa said the government is going to increase taxes because there is no money to continue implementing the reckless pledges […]
The Swiss Institute to be launched in Sri Lanka next week
The service industry – banking, hospitality & tourism, logistics & transport, telecommunications, retailing – is the stage where the global war for talent is being fought. It is the only industry dependent on the human factor for its continued success, whereas manufacturing, already in decline, has only limited scope for a human labour force. Why […]
WCIC to recognize outstanding businesswomen at the ‘Woman Entrepreneur of the Year Awards’
27 April 2016: Women’s Chamber of Industry and Commerce (WCIC) once again will lend voice to amplify the good work that women in businesses are doing in the Country when it hosts the prestigious ‘Woman Entrepreneur of the Year Awards’ in August this year. The premier national awards programme will celebrate the achievements of the […]
BOI signs 19 agreements worth Rs.319Mn in March 2016
Apr 28, 2016 (LBO) – Sri Lanka’s Board of Investment signed a total of 19 new investment agreements in varied sectors in March 2016, the investment agency said in a statement. The agreements signed are valued of 139 million US dollars and are expected to generate 3100 direct new employment opportunities. As per the BOI […]