Author: lbostgadmin
Sri Lanka level series despite Faulkner hat-trick
Aug 24, 2016 (Reuters) – Australia’s James Faulkner claimed his maiden hat-trick but could not deny Sri Lanka a series-levelling 82-run victory in the second one-day international on Wednesday. Faulkner dismissed Kusal Perera, Angelo Mathews and Thisara Perera to achieve the feat but ended up on the losing side as Australia, chasing 289 for win, […]
Sri Lankan reforms aims to simplify tax, increase base, compliance: Minister
Aug 24, 2016 (Reuters) – Sri Lanka’s new government is drafting reforms aimed at simplifying taxes, widening the tax base and increasing compliance, Finance Minister Ravi Karunanayake said on Wednesday. “The reforms are aimed at more simplified taxes, bigger tax base, and higher compliance,” he said in an interview with Reuters. The International Monetary Fund […]
Bakeer Marker appointed chairman of National Information Center
Aug 24, 2016 (LBO) – Sri Lanka’s cabinet has approved appointing former Media Minister Imthiaz Bakeer Marker as the chairman of the proposed National Information Center for a period of two years. The centre will provide official information of the government to electronic and print media, coordinate information and act as the government’s official media […]
Sri Lanka to subsidize smallholder tea, rubber and coconut fertilizer
Aug 24, 2016 (LBO) – Sri Lanka’s cabinet has approved a fertilizer subsidy for tea, coconut and rubber smallholders who own cultivated land in extent of two hectares or less, in proportion to the extent of land cultivated annually.The proposal was made by Navin Dissanayake, minister of plantation industries, to increase the current extent of […]
Sri Lanka to regulate lubricants, bitumen through PUCSL
Aug 24, 2016 (LBO) –Sri Lanka’s cabinet has approved appointment of the Public Utilities Commission as the regulator of the lubricant industry and bitumen trade so as to increase competition in the industry in line with the 2016 budget proposals. At present 13 companies including Ceylon Petroleum Corporation and Lanka Indian Oil Company are engaged […]
Sri Lankan rupee steady; importer dollar demand offsets exporter selling
COLOMBO, Aug 24 (Reuters) – The Sri Lankan rupee was steady for an eighth session on Wednesday as exporter dollar sales were offset by importer demand for the greenback, with dealers hesitating to trade the local currency below 145.50 per dollar in anticipation of central bank intervention to defend the rupee, dealers said. The spot […]
Sri Lanka aims to build tourism momentum: OBG
Aug 24, 2016 (LBO) – Data from July indicates Sri Lanka’s tourist arrivals showing new momentum, with arrivals expanding by 19.1 percent y-o-y, the Oxford Business Group said in an economic note. Sri Lanka saw a sharp rise in tourism arrivals in the first half of the year, with inbound traffic up 16.7 percent year-on-year […]
Sri Lanka bottled water to have higher SLS standards
Aug 24, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority (CAA) will be enforcing plastic mineral water bottling standards starting September 1 following the authority detecting several brands using low quality bottles. “Low quality bottles affect the quality of water in bottles,” said Rishad Bathiudeen, minister of Industry and Commerce during a consumer review conducted […]
Markets recover post Brexit, but political uncertainty remains
Aug 24, 2016 (LBO) – U.K. retail sales data have posted a positive outcome post-Brexit supporting markets even though some political uncertainty remains. From the FTSE’s low of 5,806 points immediately after the Brexit vote, the index has rallied some 18.38 percent. Other European indexes and the STOXX 600 have also recovered, with the STOXX […]
U.S. Pacific Command completes assistance operation in north
Aug 24, 2016 (LBO) – A multinational team led by U.S. Pacific Command has concluded a week-long assistance program in Jaffna, providing general medical care for 4,000 people and renovating six schools that serve 1,100 students, the U.S. Embassy said. Operation Pacific Angel is a joint civil-military operation led by U.S. Pacific Air Forces to […]
Asia stocks cement gains after recent rally, oil slips
HONG KONG, Aug 24 (Reuters) – Asian stocks consolidated recent gains on Wednesday, helped by Wall Street’s rise overnight, even as oil prices slid after a surprise build in U.S. crude stocks. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.3 percent in early trade. It has risen more than 14 percent since late […]
Chinese bank to set up South Asian branch in Sri Lanka: PM
Aug 23, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe told Parliament today that a Chinese bank has agreed to set up their South Asian branch here in Sri Lanka. “China agreed to set up the branch here in Colombo at the proposed financial city,” Wickremesinghe said. Prime Minister said the concept paper and […]