Category: Economy
Sri Lanka industrial index up 1.1-pct in July 2018
Sept 13, 2018 (LBO) – Sri Lanka’s industrial production index grew by 1.1 percent to 105.9 from an year ago, data from the Census and Statistics Department shows.The Index of Industrial Production recorded a value of 104.8 in 2017 July. Food production grew 0.1 percent in July to 103.6 index points from a year earlier.Apparel […]
Sri Lanka to be promoted as year round destination with ‘Island Escapes’ campaign
Sept 12, 2018 (LBO) – ‘Island Escapes’, a marketing campaign to promote Sri Lanka as a year-round destination to boost arrivals during off season will be launched later this week, the Tourism Minister said. “The official launch of the campaign will take place on 15 September and will be targeting specific countries,” Minister of Tourism […]
VAT refund scheme to boost tourism in Sri Lankas: Fin Min
Sept 12, 2018 (LBO) – The tourist VAT refund scheme (TVRS) will enable Sri Lankan goods to have greater exposure to the global market, bringing with it several positive economic spill overs, the Finance Minister said. “The TVRS has a particular importance for enhancing the attraction of Colombo as a destination,” Mangala Samaraweera, minister of Finance and […]
Sri Lanka Fin Min hikes fuel price: Petrol Rs.149 and Diesel Rs.123
Sept 11, 2018 (LBO) – Sri Lanka’s Finance Ministry has raised the petrol price to 149 rupees a litre from 145 rupees with effect from midnight September 10 and diesel to 123 rupees from 118 rupees. The Retail Prices of Auto Fuel is as follows: Type of Fuel Present Price Revised Price (Rs.) Petrol 92 […]
Recommendations for positioning Sri Lanka as attractive FDI destination: AMCHAM/STAX
Sept 10, 2018 (LBO) – AMCHAM, in collaboration with STAX, recently launched the 2018 whitepaper ‘FDI Landscape and Investor Sentiment in Sri Lanka’ at a gathering of business and government leaders including Malik Samarawickrama, minister of Development Strategies and International Trade. In addition to providing a definitive view of FDI statistics, the whitepaper interweaves expert insights […]
Sri Lanka PM leaves to attend World Economic Forum of ASEAN in Hanoi
Sept 10, 2018 (LBO) – Prime Minister Ranil Wickremesinghe left for Hanoi, Vietnam on a three-day official to attend the World Economic Forum on the Association of Southeast Asian Nations (WEF ASEAN). The World Economic Forum on the Association of Southeast Asian Nations will be held from Sept.11-13 and 1,000 delegates from 43 countries and regions […]
Impact of imposition of VAT on condominium sales: JLL report
Sept 10, 2018 (LBO) – In the wake of continuing uncertainty with regard to the effective date on the reintroduction of Value Added Tax (VAT) on residential condominiums, real-estate consulting agency, Jones Lang LaSalle (JLL) released a new report analyzing the likely impact of impending policy changes on the Sri Lankan real estate sector. Following the […]
CEB and PUCSL call truce : Entities developing common platform to approve generation plan
Sept 10, 2018 (LBO) – Ceylon Electricity Board (CEB), the state utility who provide electricity for Sri Lanka and its regulator the Public Utilities Commission of Sri Lanka (PUCSL) are to develop a mutually agreed process to approve electricity generation plan. The CEB, upon receiving the letter from the PUCSL indicating the timeline of the activities […]
Palm oil industry association launched to advocate sustainable growth in Sri Lanka
Sept 04, 2018 (LBO) – Sri Lanka’s Oil Palm industry has formally inaugurated an industry association under the aegis of the Ceylon Chamber of Commerce to promote common interests and advocate ‘Sustainable Growth through Responsible Production.’ Representing cultivators of oil palm, and refiners, processors, manufacturers, marketers and sellers of palm oil and other products of […]
Sri Lanka BoI targets 35 projects with Rs.46.4Bn in investments in the North
Sept 03, 2018 (LBO) – The Northern Province has benefited from investment as a result of the efforts of the Board of Investment of Sri Lanka. Among the BOI investments there are currently 6 apparel manufacturers which represent an investment of 8,000 million rupees and employ 7,917 workers. Another 15 projects in different sectors are […]
Leveraging trade-investment nexus will enable Sri Lanka create high value jobs: Fin Min
Sept 03, 2018 (LBO) – Leveraging the trade-investment nexus will enable Sri Lanka to create high value jobs and attract technology to drive productivity growth and real wage growth for citizens, the Finance Minister says. “In addition to enabling market access, it is also essential to address the supply side bottlenecks for investors,” Mangala Samaraweera, […]
UN expert to report Sri Lanka’s debt & its impact on human rights to UNHRC
Aug 30, 2018 (LBO) – United Nations Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky, will conduct an official visit to Sri Lanka from 3 to 11 September, at the invitation of the Government. “My visit aims at collecting first-hand information and examine questions related to debt and other financial obligations from […]