Category: Economy
‘s economic success: Finance Minister
May 31, 2017 (LBO) – Sri Lanka’s newly appointed finance minister says to bring sustained investment and growth, Sri Lanka has to ensure peace and reconciliation while also setting up corresponding globally recognized regulatory mechanisms and investment practices. “Without reconciliation and durable peace, without guarantees of non-recurrence of conflict, Sri Lanka cannot achieve economic success,” […]
Foreign relief aid pledged to Sri Lanka after floods
May 30, 2017 (LBO) – Sri Lanka’s official flood death toll rose to 177 on Monday as the island sought international assistance. High Commissioners and Ambassadors from the United Kingdom, United States and Japan met with the newly appointed Foreign Minister Ravi Karunanayake and pledged their support in various forms of relief aid. Japan had […]
Ravi assumes duties as foreign minister, pledges to bring in more investment
May 26, 2017 (LBO) – Sri Lanka’s new Foreign Minister Ravi Karunanayake who assumed duties at the ministry Thursday pledged to focus on bringing in investment to the island. “We will focus on bringing in investment from counties like the US, India and China,” he told reporters in Colombo while accepting his duties. “Sri Lanka […]
‘s trade deficit widens substantially this year
May 26, 2017 (LBO) – Sri Lanka’s trade deficit widened substantially in the first two months of the year, while a moderation in tourist earnings and a modest growth in workers’ remittances resulted in a subdued external sector, the central bank said in a statement. “The deficit in the trade balance widened substantially to US […]
”s Investment Conclave
May 25, 2017 (LBO) – Sri Lanka will launch its ‘Private Public Partnership (PPP) Unit’ at the upcoming ‘Sri Lanka Investment and Business Conclave 2017’, which will take place 30th May to 1st June 2017 in Colombo. The unit formed with cabinet approval is mandated to source investment from both national and international private sectors […]
Sri Lanka to reform methods of assigning leadership
May 25, 2017 (LBO) – Sri Lanka’s cabinet has given the go ahead for the implementation of reforms to establish a suitable method to assign responsibilities and leadership related to relevant tasks to increase the competition on investment flows to the island. “Making reforms to increase investment flows to Sri Lanka will increase competition on […]
Ravi K bids farewell at Finance Ministry
May 23, 2017 (LBO) – Sri Lankan ex- Finance Minister Ravi Karunanayake, who was sworn in as the new foreign affairs minister at the Presidential Secretariat Monday, visited his former ministry to thank officials and personal staff and bid farewell. Minister Ravi Karunanayake thanked all ministry officials and his private staff who assisted him in […]
Online property searches in Colombo up 28-pct in Q1: Lamudi
May 02, 2017 (LBO) – Property portal Lamudi’s real estate market report on Sri Lanka says that there is a 28 percent increase in searches for property in Colombo in the first quarter of 2017 against the same period last year. Between 2014 and 2015, data from Lamudi showed a 20 percent increase in searches […]
Sri Lanka vehicle registrations rebound to 39,173 units in March: JB Securities
May 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka recorded 39,173 units in March, significantly up from 30,036 the previous month, with a rebound in two-wheeler registrations, JB Securities said in a research note. On most categories, there was a rebound due to higher number of working days and pre-holiday season push from […]
EU Parliament rejects motion to deny GSP+ for Sri Lanka
Apr 27, 2017 (LBO) – Sri Lanka won the vote in Brussels by 436 against and 119 in favor for the motion to deny GSP plus for Sri Lanka. A group of EU parliamentarians last week forwarded a motion to deny Sri Lanka access to GSP Plus, citing the slow pace of essential reforms in […]
Next IMF tranche by June, reserves comfortable by year end: Ravi
Apr 27, 2017 (LBO) – Sri Lanka’s Finance Minister said he was optimistic about talks on reaching a staff level agreement with the International Monetary Fund for the next phase, and that the next tranche would be released by June. “I think the tranche that was due April will come by June, there were some technical difficulties like […]