Author: lbostgadmin
Prime Minister proposes to privatize SriLankan Airlines
Sri Lanka’s Prime Minister Ranil Wickremesinghe said that he proposes to privatize loss-making SriLankan Airlines. SriLankan Airlines has been fraught with challenges over the past three years starting with the Easter Sunday attacks in April 2019 that led to a decline in tourist arrivals in the immediate aftermath, followed by the onset of the pandemic […]
Message by UN Resident Coordinator in SL on Day of Vesak
On behalf of the Secretary-General and the United Nations Country Team in Sri Lanka, I send my warmest wishes to all celebrating the Day of Vesak. “Hatred is, indeed, never appeased by hatred in this world. It is appeased only by loving-kindness.” As Sri Lanka and the world journey through these troubled times, may this […]
Business leaders think Ranil should be supported
May 13, 2022 (LBO) – Business leaders in Sri Lanka say the new Prime Minister Ranil Wickremesinghe should be given a chance to resuscitate the economy. Wickremesinghe was appointed to replace Mahinda Rajapaksa, taking many political leaders by surprise and leaving them scrambling to respond. Much of the response from opposition parties was negative as […]
Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 billion (around USD0.5 billion), based on Unit Trust Association of Sri Lanka (UTA) data, Fitch Ratings says in a new report. The country’s economic and social instability may have driven […]
ComBank Group navigates devaluation impact in complex Q1 performance
Total assets cross Rs 2 Tn., first private sector bank to achieve the milestone Mainly influenced by Rupee devaluation, loan book grows by Rs 133 Bn., deposits by Rs 234 Bn. in 3 months 3-month net operating income up 66% to Rs 28.3 Bn. Posts other operating income of Rs 11.3 Bn. primarily from realized […]
MR and 16 others get overseas travel ban
The Colombo Fort Magistrate’s Court has imposed an overseas travel ban on Former Prime Minister Mahinda Rajapaksa and 16 others. The list includes – Johnston Fernando Pavithra Wanniarachchi Mahinda Rajapaksha Sanjeeva EdirimanaKanchana Jayaratne Rohitha Abeygoonewardene C B Ratnayake Sampath Atukorale Renuka Perera Namal Rajapaksha Sanath NishanthaNishantha Jayasinghe Amith Abeywickrema Pushpalal Mahinda KahandagamaDilith Fernando Deshabandu Tennekoon The order was issued by the Colombo Fort Magistrate’s Court in relation to the […]
Sri Lanka’s trade deficit widens in Feb 2022 despite above USD 1Bn of export earnings
The momentum of export earnings continued with over US dollars 1.0 billion for the ninth consecutive month in February 2022. Meanwhile, import expenditure also increased substantially in February 2022, year-on-year, while recording a decline, compared to the previous month. The trade deficit widened, compared to year before. Tourist arrivals showed a notable recovery in February […]
Ranil Wickremesinghe takes oath as Prime Minister of Sri Lanka
The Leader of the United National Party (UNP), Ranil Wickremesinghe was sworn in as the new Prime Minister of Sri Lanka. Wickremesinghe took the oath before President Gotabaya Rajapaksa at the President’s House. Wickremesinghe has previously served as the Prime Minister on five occasions. Secretary to the President Gamini Senarath and Maithree Wickremesinghe were also […]
Serious concerns of current crisis as outlined by Sri Lanka Shippers’ Council
The Sri Lanka Shippers’ Council expresses its grave concern at the violence unleashed on peaceful protestors in Colombo on 9th May 2022. While recognizing the right for peaceful protest, we condemn all forms of violence which took place on 9th May 2022 and reiterate that it should be dealt with by the law of the […]
Sri Lanka: Declaration by High Representative on behalf of EU on latest developments
The European Union (EU) and its 27 Member States are monitoring closely developments in Sri Lanka. The EU condemns the recent vicious attack against peaceful protestors in Colombo, which triggered further violence after a month of peaceful demonstrations had shown, despite some isolated incidents, that Sri Lankans are able to exercise peacefully their right to […]
Joint Chambers call for appointment of interim PM and cabinet
Joint Chambers together with Institute of Chartered Accountants of Sri Lanka call upon the President to take immediate steps to appoint a competent person as the interim Prime Minister and a small Cabinet of Ministers to be appointed in consultation with the Prime Minister acceptable to all leading political parties represented in Parliament. This must […]