Author: lbostgadmin
Venture Engine finale to feature 500 Startups fund, high profile VCs
Sri Lanka’s pioneering entrepreneur empowerment platform Venture Engine will once more welcome the participation of top global startup accelerator 500 Startups, along with a number of high profile venture capitalists (VCs) and angel investors, at its June 29 grand finale to be held in Colombo. 500 Startups is a leading global venture capital seed fund […]
VAT goes up to 15 pct, threshold reduced: Finance Ministry
May 03, 2016 (LBO) – Sri Lanka’s Value Added Tax (VAT) will be revised up to 15 percent from 11 percent from May 2nd, with pharmaceuticals and education sectors being exempt, the Finance Ministry said. The Wholesale and Retail trade will be eligible for this taxation, although several items are exempted. The threshold for VAT […]
China FTA talks in June; TPP may affect Sri Lanka apparel exports: Bathiudeen
May 02, 2016 (LBO) – Arrangements are under way to hold the third round of negotiations for China-Sri Lanka FTA in June this year, Industry and Commerce Minister Rishad Bathiudeen said. “When reviewing the garment sector, we need to be able to carefully address the Trans-Pacific Partnership (TPP) Agreement under which tax free garment export […]
‘s EZY Racing to Podium in New Zealand
14 minute penalty deprives maiden win for Sri Lankan team Press Release: Whangarei, New Zealand — EZY Racing’s Mike Young, the youngest driver in the FIA Asia Pacific Rally Championship (APRC), made a strong come back after being classified last on day one to finish third overall at the first round of the championship held […]
US, Sri Lanka adopts Joint Action Plan to boost bilateral trade in 5 yrs
May 02, 2016 (LBO) – The United States and Sri Lanka have recently adopted a five-year Joint Action Plan to boost Trade and Investment in the two countries. At the 12th US, Sri Lanka Trade and Investment Framework Council meeting which was held April 28 in Washington, DC, both sides have affirmed their belief that […]
‘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 […]