Category: Economy
ADB to introduce new partnership strategy with Sri Lanka
Feb 06, 2017 (LBO) – Asian Development Bank is working on a new country partnership strategy with Sri Lanka’s government to address dynamic challenges with sustainable, inclusive and environmentally friendly solutions, an official said. During an event to mark 50 years of Sri Lanka’s partnership with ADB, director general of South Asia Regional Department of […]
Sri Lanka’s Right to Information Act comes into force
Feb 03, 2017 (LBO) – Sri Lanka’s Right to Information (RTI) Act comes into effect today bringing with it a promise of open government, citizens’ active participation in governance, and accountability to the people of the country. The Ministry of Mass Media and Parliamentary Reform said that it has been laying the groundwork of RTI, […]
Several Sri Lankan sectors can attract smart capital: Stax
Jan 31, 2017 (LBO) – The next three to five years will be a window of opportunity in which Sri Lankan companies in healthcare, hospitality, education, and export industries can attract smart capital, a consulting firm that advises leading private equity (PE) funds worldwide said. “With the right positioning and evidence of high growth, such […]
Indian trade chamber interested in investments in north
Jan 30, 2016 (LBO) – Sri Lanka is ready to welcome India’s largest business chamber, the Chamber of Commerce and Industry of India (ASSOCHAM), as there are significant opportunities for investment in the north, Rishad Bathiudeen, the minister of industry and commerce said. Bathiudeen was speaking at the 8th Jaffna International Trade Exhibition last week. […]
Sri Lanka’s foreign debt repayment to go up to USD3.9Bn in 2019
Jan 26, 2017 (LBO) – Sri Lanka’s debt servicing will double in 2019 to 3,992 million dollars, the highest debt repayment to be paid by the island in a year, when compared to last year due to the borrowings of the previous government, the Finance Ministry said. “The total debt stock of Sri Lanka has […]
‘s Auditor General acted unprofessionally: Finance Minister
Jan 25, 2017 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake today accused the Auditor General of releasing a confidential report to COPE without his knowledge. On the 19th August 2016, the Finance Minister had requested a special report from the Auditor General under section 43 (2) of the Monetary Law Act, within a period […]
Watch the West, Reach Out To The East: Stan Chart Economist
Jan 24, 2017 (LBO) – Sri Lanka should keep a keen eye on the developments in the West, the traditional export markets, but should reach out to the East for trade and investments, an economist said. Chief Economist of Standard Chartered Bank for Asia, David Mann was responding to LBO’s question on what should be Sri […]
Former Governor Mahendran “NOT” working at Ministry: Ravi
Jan 24, 2017 (LBO) – Sri Lanka’s Finance Minister has denied reports that former Governor of the Central Bank, Arjun Mahendran is attached to his ministry or the Central Bank, a statement said. “The Ministry of Finance wishes to inform that Arjun Mahendran, the former Governor of the Central Bank of Sri Lanka, is not working in […]
Technology and know-how essential for development: Hausmann
Jan 24, 2016 (LBO) – The guest lecture in Colombo recently by Prof. Ricardo Hausmann highlighted the importance of technology and know-how in fostering economic development, Sri Lanka’s Board of Investment said releasing a statement. Hausmann of Harvard University’s Kennedy School of Government visited Sri Lanka to follow-up on a programme to build capacity among […]
European Investment Bank in EUR50mn Colombo water network expansion
Jan 24, 2016 (LBO) – The European Investment Bank will provide EUR 50 million to support improvement and expansion of sewage networks across the Sri Lankan capital Colombo. “The new loan will help Colombo Municipal Council to achieve its goal of providing full sanitation coverage to benefit people living and working in the greater Colombo […]
Over one million Sri Lankans affected by drought
Jan 23, 2017 (LBO) – Sri Lankans have been warned to conserve water and electricity with over a million persons affected so far by drought as crop output decreases and shortages of drinking water are being reported, officials said. Officials at the disaster information center say over a million person have so far been affected […]
Central Bank says internal & external probe on 2015/16 EPF operations
Jan 23, 2017 (LBO) – Sri Lanka’s Central Bank said an internal examination is currently underway under the direction of the Monetary Board on transactions of EPF in government securities during 2015 and 2016. Releasing a statement, Secretary to the Monetary Board of Central Bank said the law enforcement authorities have also been requested to […]