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Special cabinet meeting Monday to discuss Avant Garde issue
Nov 06, 2015 (LBO – Sri Lanka’s President Maithripala Sirisena has called a special cabinet meeting on Monday to discuss the Avant Garde issue, Cabinet Spokesman, Minister Rajitha Senaratne told reporters on Friday.“We have already informed our stance in this regard and will take a further decision only after Mondays meeting,” Minister Rajitha Senaratne said. […]
Tea Board to purchase auction tea until price stabilized
Nov 06, 2015 (LBO) – Sri Lanka’s Tea Board will purchase quality tea from the tea auction for the price of 430 rupees per kilogram until the price reaches the limit of 450 rupees. “We are putting one billion rupees to the tea market,” Rajitha Senaratne, Cabinet Spokesman said. “Tea prices are controlled by the […]
Govt to introduce liquor labels to control illegal liquor
Nov 06, 2015 (LBO) – Sri Lanka’s government plans to introduce liquor labels to control illegal liquor entering the market.As the government has imposed a larger tax, illegal bottled liquor seem to be entering the market, Cabinet Spokesman Rajitha Senaratne told reporters. “Under these circumstance many customers tend to drink unhealthy liquor,” he said.The proposal […]
Sri Lanka to get USD25.7mn for smallholder tea, rubber revival
Nov 06, 2015 (LBO) – Sri Lanka plans to get 25.7 million dollars of financial assistant from the International Fund for Agricultural Development (IFAD) for the implementation of the smallholder tea and rubber revitalization programme, Cabinet Spokesman Rajith Senaratne said.The programme intends to assist in improving the tea yields in 5,500 hectares in Matara, Galle, […]
ICTA plans ambitious digital infrastructure, Google Loon by March
Nov 06, 2015 (LBO) – Sri Lanka has ambitious plans for digital infrastructure to connect all people on the island, ICTA, the apex ICT institution of the government, said at the LBR LBO Infrastructure Summit in Colombo. “In all the years of the ICTA, we are going to do five times more (next year),” Arunesh Peter, […]
PTL Watch: Minimal activity, buying in 15 and 20-year bonds
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Sri Lankan born economist predicts global recession next year
Nov 06, 2015 (LBO) – Sri Lankan-born economist Howard Nicholas on Thursday warned that the world will have to face a recession by next year. Speaking at the 36th National Conference of Chartered Accountants in Colombo Nicholas, who is a senior lecturer of Rotterdam Erasmus University, argued the world is now near the bottom of […]
BOND IS BACK
Bond is back in SPECTRE and VisitBritain and the GREAT Britain campaign is once again utilizing 007’s iconic international profile to show the world what makes Britain GREAT. The British High Commission (BHC) in Colombo hosted an event at Westminster House, with the attendance of Prime Minister Hon. Ranil Wickremasinghe, Ministers and members of Parliament, […]
Sri Lanka need not maintain super gain tax: PM
Nov 06, 2015 (LBO) – Sri Lanka’s much talked about super gain tax imposed by the new administration in its interim budget 2015 need not be maintained, Prime Minister Ranil Wickremesinghe told Parliament on Thursday.“With the intermediate budget guidelines, we imposed a Super Gain Tax. This was based on the fact that the demand for […]
Infrastructure: Sri Lanka’s mass transit success lies with land use management, says Nayana Mawilmada
Nov 06, 2015 (LBO) – Sri Lanka’s plans for mass transit specially in Colombo must ensure that it stays linked to real-estate developments to make it viable, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. “Introduction of mass transit is a critical step and a game changer for […]
Full text of Economic Policy Statement made by PM in Parliament
Economic Policy Statement made by Prime Minister, Ranil Wickremesinghe in Parliament on 5th November 2015 Hon. Speaker, On the 08th of January, the people of Sri Lanka elected Maithripala Sirisena as the President in pursuit of much needed change. This was confirmed at the Parliamentary Election held in August. Our final goal is to improve […]
Big names needed to bring tourists, says Managing Director of Aitken Spence
Sustained promotion and consistent branding of Sri Lanka as a holiday destination are essential if the country is to overhaul its tourism industry, Rajan Brito, the Deputy Chairman and Managing Director of the conglomerate Aitken Spence has said. Speaking during a wide-ranging interview he gave to the global publishing, research and consultancy firm Oxford Business […]