Author: lbostgadmin
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Oct 31, 2016 (LBO) – Sri Lanka’s Value Added Tax (VAT) hike 15 percent from 11 percent will make the island credit positive as it will facilitate fiscal consolidation by strengthening low revenue-to GDP ratio, Moody’s Investors Service said. “The government originally implemented the VAT hike in May, but retracted it in July after a […]
SriLankan Airlines named Best Full Service Airline in Central & South Asia
(PRESS RELEASE) – Colombo, October 28, 2016: SriLankan Airlines emphasized its positioning as an airline of choice among discerning global travelers by winning the “Best Full Service Airline in Central and South Asia” at the Future Travel Experience Asia Awards 2016 in Singapore for the second consecutive year. Ajith Dias, Chairman of SriLankan Airlines, said: […]
Excerpts of Sri Lanka COPE recommendations on bond issue
Oct 31, 2016 (LBO) – Sri Lanka’s Committee on Public Enterprises has made several recommendations to Parliament on last year’s controversial bond issue. Excerpts of the recommendations, as published by the Sunday Times, are the following: Evidence has been placed before the COPE, which gives rise to reasonable suspicion that former CB Governor Arjuna Mahendran […]
Huawei launches Experience Store in Colombo, Plans to grow distribution
(PRESS RELEASE) – Huawei opened a brand new Experience Store in Colombo at Liberty Plaza Ground Floor adding another chapter to its expansion drive in Sri Lanka. The Experience Store is designed, with interactive areas where consumers can decide on their favourite Huawei smartphones, tablets and other devices. The opening of the new Experience Store […]
Government will bring a people’s Budget: Ravi Karunanayake
Oct 31, 2016 (LBO) – Sri Lanka’s budget for 2017 on Nov 10 will be a people’s budget as it would incorporate ideas proposed from all corners of the country, the Finance Minister said in a statement. “The Ministry of Finance has already received over 2200 proposals from the people. This also includes proposals from […]
Asia stocks stutter as FBI probe of Clinton jolts markets
SINGAPORE, Oct 31 (Reuters) – Asian stocks got off to a shaky start on Monday after a renewed FBI probe of U.S. Democratic presidential candidate Hillary Clinton’s use of a personal email server sparked fresh tumult in markets, just days before the Nov. 8 presidential vote. The Japanese yen, seen as a safe-haven in times […]
Sri Lanka to sell 80 percent of southern Hambantota port to Chinese firm
Oct 28, 2016 (Reuters) – Sri Lanka will sell to a Chinese company 80 percent of a $1.5-billion port in its south, where China has also been offered an investment zone, in a bid to cut the country’s debt burden, Finance Minister Ravi Karunanayake said. The move follows an offer made by Prime Minister Ranil […]
CAMMS wins 2016 national ICT awards
(PRESS RELEASE) – CAMMS has won two awards at the National Best Quality ICT Awards (NBQSA) 2016,in Sri Lanka for its software solutions for the healthcare sector. The Enterprise Performance Management (EPM) and Business Intelligence (BI) Company won a Gold award in the Healthcare category for its product – SYCLE Health. CAMMS was also awarded […]
‘s moral suasion caps fall
Oct 28, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Thursday with the central bank raising the spot reference rate by 50 cents as higher importer dollar demand weighed on the currency, dealers said. However, moral suasion by the central bank prevented a steeper fall, they added. The central bank raised the spot […]
EU team to visit Sri Lanka next week on GSP+ application
Oct 28, 2016 (LBO) – A four member delegation from the European Parliament will visit Sri Lanka next week to look at the groundwork laid for a successful GSP+ application, a statement said. “The team will also discuss the progress on national reconciliation and ways to empower women politically and economically,” said the delegation of […]
Opinion: Budget 2017 expectations, unrealistic or achievable?
Oct 28, 2016 (LBO)- Gearing for the new budget in a few weeks time Finance Minister Ravi Karunanayake is optimistic about Budget 2017. An equity buyout for Hambantota port is on the cards, and the second IMF tranche will be back on track, although continued support for SriLankan Airlines is likely, Karunanayake said, speaking to […]