Author: lbostgadmin
’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 […]
Sri Lanka to cancel the licenses of all duty free shops at BIA
Jan 21, 2015 (LBO) – Sri Lanka’s Minister of Aviation Faizer Mustapha has ordered to cancel the licenses of all duty free shops at the Bandaranaike International Airport (BIA) and Mattala airport, a media report said. The minister has asked the authorities to call for open tenders for duty free shop for both airports. There […]
Sri Lanka exporters urges removal of barriers to boost export
Jan 20, 2015 (LBO) – Sri Lanka’s Exporters’ Association said that it expects that the new government will take steps to eliminate some of the barriers and deficiencies the sector faces towards boosting exports. Releasing a statement, the apex body of exporters said that the association has continuously lobbied on several platforms and to relevant […]
Sri Lanka to create an even playing field for investments: Legislator
Jan 19, 2015 (LBO) – Sri Lanka would create an even playing field in order to attract investors and new projects, Deputy Minister of Investment Promotions Eran Wickramaratne told the LBO. The reason is because Sri Lanka pays a lot of money for these projects and we did not even know how much we are […]
Sri Lanka to expand economic freedom for more investments: Eran
Jan 19, 2015 (LBO) – Sri Lanka would attract more investors by expanding economic freedom and investment environment, Deputy Minister of Investments Promotions, Eran Wickramaratne said. You all know that whether it is a country or business, investment is more important, he said. The first challenge we face is to increase the volume of investments […]
Sri Lanka looks at good relations with China and India
Jan 19, 2015 (LBO) – Sri Lanka is looking at developing good relations with India as well as China, the biggest emerging economies in Asia, the Minister of Investment promotion said. “The reality is that we have to work in the Asian region and India and China are two of our key players. So we […]
Sri Lanka lifts travel ban on Foreigners
Jan 17, 2015 (LBO) – Sri Lanka’s government lifted a ban on foreign nationals and foreign organizations visiting to the island’s former war zones with immediate effect, a media report said. The Council has also decided to lift restrictions on transporting unspecified goods, the report said. However no decision has been taken to reduce the […]
‘s President to become party leader: Source
Jan 16, 2015 (LBO) – Sri Lanka’s newly elected President Maithripala Sirisena to become the Chairman of the Sri Lanka Freedom Party (SLFP) today, a source said. Former president and leader of SLFP Mahinda Rajapakse has agreed to step down as the party chairman, allowing new president to take full control. Sirisena had been the […]