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Sri Lanka’s 2.5mn tourist arrivals target by 2016 not likely: Report
July 22, 2015 (LBO) – Sri Lanka will not be able to lure 2.5 million tourists by 2016 as claimed by the previous government, a recent industry report said. “Achieving 2.5 million tourists by 2016 is not a pragmatic goal,” Bartleet Religare Securities (BRS) said in a report.“For the country to reach 2.5 million visitors […]
Heads of SAARC statistical organizations to meet in Sri Lanka tomorrow
July 22, 2015 (LBO) – The seventh meeting of the heads of SAARC statistical organizations is scheduled to be held in Colombo for two days starting from tomorrow.Director General of Department of census and statistics Amara Satharasingha will be officially elected as the chairperson of the seventh conference, statistics department said. It is organized by […]
EU election observers to make recommendations for electoral reforms in Sri Lanka
July 21, 2015 (LBO) – Election observation mission of European Union is to make technical recommendations on electoral reforms after observing the upcoming Parliamentary election in Sri Lanka.The EU election observes who arrived Sri Lanka recently clarified the purpose of their mission at a press briefing held today. “Our purpose is to offer an impartial […]
Sri Lanka stocks close lower 0.03-pct
July 21, 2015 (LBO) – Sri Lanka’s stocks closed lower 0.03 percent on Tuesday with low investor activity, brokers said. The Colombo benchmark All Share Price Index closed 2.27 points lower at 7,145.59 down 0.03 percent. The S&P SL20 closed 2.38 points lower at 4,005.14 down 0.06 percent. Turnover was 334.8 million rupees, down from […]
Ravi Karunanayake’s Bus Ride
Finance Minister Ravi Karunanayake recently kick started the bus service along Town Hall – Dematagoda (167) bus route which interrupted for a long time.
Commercial Bank completes landscaping of National Hospital gardens
(News Release) – A project by the Corporate Social Responsibility Trust of Commercial Bank to landscape one and a half acres of the gardens of the National Hospital of Sri Lanka (NHSL) Colombo has been completed.Officials of the two institutions jointly inspected the completed work recently, and the NHSL presented a token of appreciation to […]
ODEL Luv SL store opens at Crescat Boulevard
(ODEL News Release) – Luv SL by ODEL opened its newest and most extraordinary store at Crescat Boulevard recently. Located at Shop No. 19 A, Lobby Level, the Luv SL store is representative of ODEL’s most innovative stores featuring Sri Lankan inspired fashion, accessories, souvenir, home-grown products and items that are retailed in a new format […]
Disruptive Innovation, A challenging wave for organizations and leaders
July 21, 2015 (LBO) – Innovation can disrupt an organization, creating a new set of challenges to the leadership which some traditional companies are not aware of even, an official said. “This might completely dislodge you from your present industry,” Deepal Sooriyarachchi, Commissioner and Chairman of Sri Lanka Inventors Commission said. “And some of the […]
Sri Lanka lacks effective grading system for tourist accomodation
July 21, 2015 (LBO) – Sri Lanka’s tourism industry needs a standardized grading system for tourist accomodation, which indicates the minimum requirements of service standards, a recent industry reportays. “The industry needs a standardized grading system that spells out the minimum requirement of service standards to ensure safety and comfort of the establishments and guests,” […]
Greece clears arrears at IMF and repays ECB
July 21, 2015 (LBO) – Greece has cleared overdue debt repayments of 2.05 billion euros to the International Monetary Fund (IMF), foreign media reports said.“The IMF confirmed that Greece is no longer in arrears,” the report said. This comes following missing two IMF payments worth 1.556 billion and 0.456 billion euros respectively in June last […]
6% GDP growth in 2015, a challenge; comparing rebased numbers technically wrong: CB
July 21, 2015 (LBO) – Sri Lanka’s Deputy Governor of the Central Bank says it would be difficult to maintain a 6 percent growth this year.“Looking at the last year’s quarter two, three and four growth rates which were higher or increasing; which means it’s a higher base,” “So it would be a challenge for […]
Sri Lanka needs to minimize tax exemptions to broaden tax base: Central Bank
July 21, 2015 (LBO) – Sri Lanka needs to minimize tax exemptions and improve direct taxation in order to broaden the tax base, Deputy Governor of the Central Bank said.“If you look at the tax exemptions, there are a large number of tax exemptions.” Deputy Governor Dr. Nandalal Weerasinghe said. Island’s Inland Revenue Act contains […]