Author: lbostgadmin
Sri Lanka’s biggest challenge of good governance is re-establishing and strengthening democracy says PM
Sep 30, 2015 (LBO) – Sri Lanka’s biggest challenge of good governance is re-establishing and strengthening democratic society in which government plans to achieve within next two years, Prime Minister Ranil Wickremesinghe told a forum on Tuesday.“Today in Sri Lanka the biggest challenge of good governance applies to all of us in terms of re-establishing […]
US to implement USD2.6mn program to enhance justice system in Sri Lanka
Sep 29, 2015 (LBO) – The United States and Sri Lanka on Tuesday agreed to implement a 2.6 million US dollar program to enhance the capabilities of Sri Lanka’s criminal justice system. “A fair and equitable justice system goes to the heart of any democracy,” US Ambassador Atul Keshap said.“The United States looks forward to […]
Sri Lanka is one of the fastest growing markets in South Asia says Huawei
Sep 29, 2015 (LBO) – As Sri Lanka is one of the fastest growing market in South Asia in smart phone segment of Chinese mobile maker, Huawei, says it plans to expand the market share though increasing distribution network targeting a revenue of 10 billion rupees by 2016. “Sri Lanka has grown to be one […]
Sri Lanka‘s tea exports fall for 12th consecutive month
Sep 29, 2015 (LBO) – Sri Lanka’s Tea exports, continued to decline in July 2015 for the twelfth consecutive month, due to lower demand from main tea buyers such as Russia and the Middle East, reflecting declines in both export volume and export prices.Tea exports recorded a drop of 14.0 percent in July this year. […]
Sri Lanka’s exports and imports both declined in July 2015: Central Bank
Sep 29, 2015 (LBO) – Sri Lanka’s exports earnings recorded a decline of 2.6 per cent, year-on-year, to 932 million US dollars in July 2015, reflecting a year-on-year decline in both industrial and agricultural exports.“Exports of all sub categories of industrial sector, except transport equipment, petroleum products and animal fodder, declined in July 2015, owing […]
Sri Lanka stocks up 0.10-pct: Net foreign inflow
Sep 29, 2015 (LBO) – Sri Lankan stocks closed up 0.10 percent on Tuesday after three consecutive days of losses with gains seen some index heavy, brokers said. The Colombo benchmark All Share Price Index closed up 6.74 points at7,085.38 higher 0.10 percent. S&P SL20 closed 18.62 points lower at 3,850.93 down 0.48 percent. Turnover […]
SriLankan Airlines wins “Excellence in HR – South Asia” award
National Carrier, SriLankan Airlines won the “”Excellence in Human Resource – South Asia” award at the annual sessions and SHRM international Award Ceremony, held in India recently. SriLankan was competing with many entities from the South Asian region, excluding those of India, competing under the national category. Founded in 1948, the Society for Human Resource […]
World Bank says Sri Lanka urbanisation higher than estimated
Sep 29, 2015 (LBO) – Urbanisation in Sri Lanka is higher than officially estimated with almost half the population living in urban areas, a senior World Bank official said. “Urbanization in island is close to 50 percent like the rest of world,” Ede Jorge Ijjasz-Vasquez, senior director social, urban, rural and reliance global practice […]
US supports domestic process for justice, Kerry pledges to Sirisena
Sep 29, 2015 (LBO) – US Secretary of State John Kerry has reiterated their support for a credible domestic process for justice and reconciliation in Sri Lanka.Kerry met yesterday in New York with Sri Lankan President Maithripala Sirisena and has discussed built on the meetings the Secretary had during his visit to Colombo in May.The […]
India cuts key interest rate to bolster economy
Sept 29, 2015 (LBO) – India’s central bank reduced its policy interest rates by a larger-than-expected amount to support the economy amid China’s slowdown, media reports said. The benchmark repurchase rate was cut to 6.75 percent from 7.25 percent with most analysts expecting only a quarter percentage point cut. “The weakening of global activity since […]
Sri Lanka trade deficit narrows by 32-pct in July
Sept 29, 2015 (LBO) – Sri Lanka’s trade deficit narrowed in July from the same month last year, the central bank said. This was partly due to the base effect as July 2014 recorded the highest monthly import value after November 2012. “The deficit in the trade account in July 2015 contracted substantially by 32.3 […]
Sri Lanka wants holding company structure for public enterprises: Governor
Sept 29, 2015 (LBO) – Sri Lanka’s government is looking at setting up a holding company which will own equity stakes in public enterprises, the central bank governor said. The aim here is to improve good governance and restructure under-performing ones, he said. “The government wants to evolve a holding company which will own equity […]