Author: lbostgadmin
US expected to hold rates this week
Apr 25, 2016 (LBO) – The U.S Federal Reserve is widely expected to hold interest rates when its policy makers meet this week. More important than the actual rate decision at this week’s (26th-27th) Fed meeting will be the language of the policy statement, analysts say. “The market for Fed funds futures seems to be […]
Aitken Spence Travels achieves landmark 129,000 arrivals
Aitken Spence, Sri Lanka’s largest destination management company, closed the 2015/16 financial year recording the highest tourist volume handled by a single local travel company. Aitken Spence Travels delivered on the daunting task of following up last year’s benchmark of 108,000 pax, with a landmark 129,000 inbound arrivals. The accomplishment is an optimistic upturn for […]
Sri Lanka exporters protest gazette on repatriation of funds
Apr 25, 2016 (LBO) – Sri Lankan exporters have begun to protest after the Finance Ministry issued a gazette notification requiring the repatriation of funds from exports that are retained abroad. “As part of current policy measures taken to improve the foreign exchange inflows to the country, the Hon. Minister of Finance has issued the […]
PTL Watch: Foreign buying in Sri Lanka bonds
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”t Know
By Arosha Jayasundera To be in a state of bliss is great, when you happily chug along at your own pace. But how long can it last? In the absence of benchmarks, we can imagine that we are doing just fine. Perhaps this is an affliction which affects many of the South Asian countries. Certainly […]
Sri Lanka’s transport reforms lack political will: Kumarage
Apr 22, 2016 (LBO) – Sri Lanka’s politicians should lead from the front and drive much needed transport reforms which have evolved through changes in social and economic conditions, a senior official told LBO. “Vehicles gridlocked in Colombo traffic is something we are all familiar with by now. But what are we doing about it?” Amal […]
BOC ATMs dispensed record Rs30bn during Avurudu season
The Bank of Ceylon, Leader in the Sri Lankan Banking Industry has set a bench mark of dispensing a record breaking Rs.30.72 Billion from its ATMs during Avurudu season. The Bank has made every possible arrangement to provide the utmost convenient and easy access to cash for its customers during this festive season. Bank has […]
Sri Lanka joins 9 countries that reformed fisheries governance
Apr 22, 2016 (LBO) – Sri Lanka has joined the growing list of countries that have reformed their fisheries governance systems following a lift of ban by the European Commission yesterday. Subsequent to specific warnings by the European Union, a total of ten countries (Sri Lanka, Ghana, Papua New Guinea, Korea, the Philippines, Fiji, Belize, […]
Interview: Sri Lanka wants infrastructure that generate revenue, says Niroshan Perera
Apr 22, 2016 (LBO) – Sri Lanka will move ahead with development projects that generate revenue while strengthening accountability of state institutions to Parliament, a government minister said. State Minister for National Policies and Economic Affairs, Niroshan Perera, spoke to Lanka Business Online on several aspects of policy. Projects such as the Mattala airport and […]
‘s IGP race
Apr 20, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Pujitha Jayasundara as the new Inspector General of Police. President’s Media Division said the President has presented the letter of appointment to Jayasundara today (April 20) at the Presidential Secretariat. President Sirisena recently submitted the names of three Senior Deputy Inspectors Generals of Police, […]
Sri Lanka tea sees better demand for high grown small leafs
Apr 20, 2016 (LBO) – Sri Lanka’s tea at auction offerings saw good demand all round with better demand for high grown small leaf teas, Forbes & Walker Tea Brokers said in their latest report. “Consequent to the smaller volume on offer coupled with the absence of an auction last week on account of Sinhala/ Tamil […]
Sri Lanka plans new railway for coal transportation
Apr 20, 2016 (LBO) – Sri Lanka’s government is planning to build a new railway track from Maho to Puttalam to transport coal from Trincomalee to Norochcholai through railway lines, the Power Minister said. Power Minister Ranjith Siyambalapitiya speaking at a press briefing on Wednesday said the ministry is currently in talks with the Railway […]