Category: Policy
‘s visit
Dec 19, 2016 (LBO) – Malaysia and Sri Lanka will consider the possibility of free trade agreement, a joint statement said, after the official visit of President Maithripala Sirisena to Malaysia. President Maithripala Sirisena was on a visit to Malaysia last week at the invitation of Malaysia’s Prime Minister Abdul Razak, during which five memoranda […]
President removes 19 Sinhala leaders from a list of traitors
After 198 years, President has removed 19 Sinhala leaders including Monarawila Keppetipola from a list of traitors recognizing them as Wellassa heroes. After 198 years, I cleared the names of Wellassa heroes including Monarawila Keppetipola. pic.twitter.com/HWXD4jBxWQ— Maithripala Sirisena (@MaithripalaS) December 8, 2016
‘s budget headed in right direction: IMF
Nov 30, 2016 (LBO) – Sri Lanka’s budget for 2017 is headed in the right direction, especially in terms of primary deficit reduction, Eteri Kvintradze, the resident representative of the IMF, said on Tuesday. Kvintradze was speaking at Lanka Business Online’s LBR LBO Debrief: Economic & Business Climate Outlook 2017 which saw a full house […]
Opinion: Changing nature of work necessitates a universal basic income
By Frances Coppola We have a crisis of work. The secure, well-paid jobs of the past — many of them in manufacturing — are disappearing. What is replacing them is insecurity and uncertainty. Low-paid, part-time, temporary and seasonal work. The “feast or famine” of self-employment. The so-called “sharing economy”, where people rent out their possessions […]
Sri Lanka balances investments across India, China and Japan: official
Nov 23, 2016 (LBO) – Sri Lanka is internationalizing key investments in infrastructure across three Asian nations India, China and Japan, a government official said. After failing to weigh competing interests in the past, observers say the current government is on the right track to develop Sri Lanka’s key infrastructure. Japan will develop the light […]
Verité identifies weakness in Sri Lanka’s public procurement
Nov 17, 2016 (LBO) – Verité Research, a private think tank, has identified three key weaknesses in public procurement in Sri Lanka. The study by the regional think tank has focused on the problems of public procurement, best practices of e-procurement followed in other countries, and the benefits for local businesses and the government. As […]
Education a priority, free tablets for students: Budget
Nov 11, 2016 (LBO) – Sri Lanka will prioritize education and give free tablet computers to students and teachers in 2017, the government said in budget proposals for next year. Almost 175,000 A Level students and 28,000 teachers will receive tablet computers in 2017, for which five billion rupees has been allocated. Sri Lanka has […]
Download full budget speech 2017
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Budget 2017 *** Live Coverage ***
* Finance Minister concludes budget speech * Committee of private and public sector to ensure budget implementation * Corporate income tax to be revised to a 3-tier structure 14%, 28% and 40%. WHT increased from 10% to 14% * Tax incentive for exporting of vehicles * Income tax to be streamlined * Reduce indirect taxes […]
Sri Lanka to establish independent agency for tenders
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to streamline the process and transparency on all state tenders by establishing an independent centralised procurement institution, a statement said. “The new Independent Centralized Procurement Agency is to comprise five members including the following holders of office, representing women and major ethnic groups […]
Monetary policy could still be considered accomodative: Central Bank
Nov 02, 2016 (LBO) – Sri Lanka’s Central Bank said on Tuesday that despite a tightening in interest rates this year, that monetary policy could still be considered accomodative. Growth in credit to the private sector could slow to around 20 percent by the end of the year, from the 27.3 percent in August, Assistant […]
Sri Lanka Central Bank keeps rates steady ahead of budget
Oct 31, 2016 (LBO) – Sri Lanka’s central bank on Monday decided to keep its key interest rates steady, a few days ahead of the national budget. Accordingly, the Standing Deposit Facility Rate and the Standing Lending Facility Rate of the Central Bank will be maintained at 7.00 percent and 8.50 percent, respectively. Monetary Policy […]