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Sri Lanka’s tourism sector profits should trickle down to people: Minister
Apr 24, 2015 (LBO) – Sri Lanka’s Tourism Minister told LBO that the profits from Island’s tourism sector should go to the hands of the common people.Tourism Industry is highly depend on manpower which requires skilled and unskilled labour. “Looking into the future, tourism is a sector that is developing at a rapid pace and […]
Sri Lanka’s CEB says energy sector is challenged when providing quality electricity
Apr 24, 2015 (LBO) – Sri Lanka’s energy sector is challenged when providing quality electricity to suit the current requirements of the households in the Island, Chairman of Ceylon Electricity Board (CEB) said. “Supplying quality electricity is a challenge,” Anura Wijepala, Chairman of Ceylon Electricity Board (CEB) told a forum in Colombo yesterday. “It is […]
Sri Lanka’s International Arbitration Centre starts May 2015
Apr 23, 2015 (LBO) – Sri Lanka is expected to commence activities of International Arbitration Centre from the month of May, government spokesman, Rajitha Senaratne said.He says the government aims to develop Sri Lanka as a regional hub to provide services related to law and order, considering the professional capabilities in the country’s legal sphere.The […]
Sri Lanka up 5 notches in World Happiness Report 2015
Apr 24, 2015 (LBO) – Sri Lanka’s happiness has climbed five places to rank at 132 position bagging 4.271 points in the latest World Happiness Report published on Thursday. The country was ranked 137th in the second edition of the report published in 2013. Switzerland topped the ranking while Iceland bagged the second place in […]
‘s President urges all Parliamentarians to vote for 19A; election reforms to follow
Apr 23, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena making a special statement to the Nation on Thursday urged all Parliamentarians to vote in favor of 19th amendment. “I sincerely request all the members to support to pass the 19th amendment in parliament,” President Sirisena said. President also confirmed that the election reforms will […]
Sri Lanka to bring electoral reform through constitutional amendment
Apr 23, 2015 (LBO) – Sri Lanka’s Cabinet Spokesman, Rajitha Senarathne said today that the government has presented a draft proposal to the cabinet and is planning to replace the existing proportional system with a mixed electoral one.Senarathne said that the new system includes provisions to elect a Parliamentarian directly to each electorate and a […]
‘s Central Bank to have $1.1bn currency swap extension from India
Apr 23, 2015 (LBO) – Sri Lanka’s Central Bank is to enter into an agreement with India to extend its currency swap facility by 1.1 billion US dollars. The union cabinet chaired by the Indian Prime Minister on Wednesday gave its ex-post-facto approval for entering into an agreement with the Sri Lankan Central Bank for […]
Sri Lanka stocks close lower at 0.04-pct
Apr 23, 2015 (LBO) – Sri Lanka’s stocks closed lower, 0.04 per cent with the telecommunication stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed 2.74 points lower at 7,114.39, down 0.04 per cent. The S&P SL20 closed 03.29 points lower at 4,026.32, down 0.08 per cent. “The political uncertainty in […]
‘s Marxist JVP not satisfied with the out come of bond investigation
Apr 23, 2015 (LBO) – Sri Lanka’s Marxist JVP on Thursday reiterated the government to conduct an impartial investigation into the controversial bond issue. Speaking at a press briefing, JVP leader Anura Kumara Dissanayaka criticized Prime Minister Ranil Wickramasinghe for not appointing an independent team for the investigation. “If you look at the past nomination […]
Sri Lanka to implement Bibile sugar development project
Apr 23, 2015 (LBO) – Sri Lanka’s cabinet has given approval to implement the Bibile sugar development project with the participation of farmers from the Badulla and Ampara districts covering the cultivation of sugar cane for the production of sugar and cultivate mixed crops.Each farmer in the area will be provided a block of land […]
Sri Lanka’s entrepreneur Otara Gunawardene says “I have no regrets selling Odel”
Apr 23, 2015 (LBO) – Sri Lanka’s entrepreneur Otara Gunawardene, who started her retail business selling garment factory surplus stock from the back of a van and then turned it into one of the largest fashion and lifestyle retail chains in the Island says, she has no regrets selling her 25 year old business empire. […]
‘s Fitch rates DFCC Vardhana debentures
Apr 23, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned DFCC Vardhana Bank’s proposed Basel II-compliant senior debentures of up to 3 billion rupees an expected national long-term rating of ‘AA-(lka)(EXP)’. The proposed Basel II-compliant subordinated debentures of up to 2 billion rupees has assigned an expected national long-term rating of ‘A+(lka)(EXP)’. The debentures, […]