Category: Economy

Feb 24, 2015 (LBO) – World Bank’s vice president for the South Asia Region Annette Dixon said the Bank would partner with the government to help shape and implement policies aimed at reducing poverty, improving shared prosperity and promoting sustainable growth. The Government has laid out an ambitious reform agenda aimed at improving governance, transparency […]

Feb 20, 2015 (LBO) – India’s Prime Minister Narendra Modi will visit Sri Lanka on March 13 which is the first visit by an Indian leader to the island in 28 years, cabinet spokesman Rajitha Senaratne said yesterday. Senaratne said, the two government plans to discuss about Indian investment in Sri Lanka in detailed during […]

Feb 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has begun discussions with World Bank Managing Director Sri Mulyani Indrawati and with IMF Managing Director Christine Lagarde, the central bank said in a media release. Also, these discussions will continue with the senior officials in the context of the next regularly scheduled Post-Program […]

Feb 19, 2015 (LBO) – Sri Lanka Finance Minister Ravi Karunanayake and International Monetary Fund Managing Director Christine Largarde discussion had kicked off in Washington today. Management level dialogue will continue on the occasion of the Spring Meetings of the IMF and the World Bank in April. the statement said. We had a fruitful discussion […]

Feb 13, 2015 (LBO) – Sri Lanka’s new administration plans to attract Indian Investments in to the Indian Ocean Island, and to develop strong relationship with India with the proposed visit of President Sirisena’s to India in mid – February. We have only got loans with high interest under the previous regime but not investments, […]

Feb 09, 2015 (LBO) – Sri Lanka’s new government would take steps to appoint a Constitutional Council including senior respected people and ministers from government and opposition to decide senior appointments, Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva said. He made this comment at LBR LBO CEO Forum, answering a question […]

Feb 09, 2015 (LBO) – Sri Lanka’s proposed Mansion Tax was amended imposing on houses larger than 10,000 square feet, which is twice as large as originally propose in an interim budget 2015, a media report said quoting Finance Minister Ravi Karunanayake. Accordingly the report, the Mansion Tax would be levied on houses where the […]

Feb 09, 2015 (LBO) – Sri Lanka’s economic relations with India will play a crucial role in making Sri Lanka an international logistic hub, Chief Executive of the Ceylon Chamber of Commerce said in a statement. Sri Lanka needs to appreciate the unprecedented opportunity that is emerging in India and within South Asia, Mangala P. […]

Feb 06, 2015 (LBO) – Sri Lanka’s Port City project would go ahead as the appointed committee to review the project had now found that an Environment Impact Assessment (EIA) had been conducted on the reclamation, Cabinet Spokesman Rajitha Senaratne said. Senarathne said the EIA had been conducted by Sri Lanka’s Moratuwa University. Sri Lanka […]

Feb 06, 2015 (LBO) – Sri Lanka’s new government has wrapped the deal with former IMF Chief Dominique Strauss-Kahn after paying USD 750,000 for being an advisor to set up International Finance Center to attract foreign investors to the island. Cabinet Spokesman Rajitha Senarathne said the Cabinet had decided to terminate the servicers of Khan […]

Feb 05, 2015 (LBO) – Sri Lanka’s Deputy Policy Planning and Economic Affairs Minister Dr. Harsha de Silva, said that the new government would not print money to raise revenue to deliver election promises but would tax selected industries as a revenue generation measure. These must be look at not as individual effects or rather […]