Category: Featured
‘s CSCEC named as contractors for TRI-ZEN
Jan 14, 2019 (LBO) – Sri Lanka’s Braybrooke Residential Towers (Pvt) Ltd announced that it had appointed China State Construction Engineering Corporation Ltd (CSCEC) as the contractor for its residential project TRI-ZEN. The culmination of an ambitious joint venture between John Keells Holdings PLC and Indra Traders, the TRI-ZEN project aims to establish a vibrant […]
Sri Lanka President appoints more non-cabinet ministers
Jan 11, 2019 (LBO) – Three more parliamentarians have been sworn in by President Maithripala Sirisena to Sri Lanka’s government. Issuing a statement the Presidents office said two non-Cabinet and one deputy minister was sworn in earlier today. The appointments are as follows: Ravindra Samaraweera – Non-Cabinet Minister of Labour & Trade Union Relations V. […]
Democracy Index 2018: Sri Lanka ranking falls more than others in region after crisis
Jan 09, 2019 (LBO) – Sri Lanka’s democracy ranking has fallen more than any other country in the region with a marked decrease in its score from 6.48 in 2017 to 6.19, driven by a worsening in the functioning of government and in civil liberties.The Economist Intelligence Unit’s Democracy Index 2018 provides a snapshot of […]
Recent rupee depreciation aligned with capital outflows not current account
Jan 08, 2019 (LBO) – Sri Lanka’s Central Bank Governor says that the rupee depreciation is no longer aligned with fundamentals in terms of current account flows and it is now being driven by capital outflows from the government securities market.Governor Indrajit Coomaraswamy recently revealed that foreigners who held about two billion US dollars worth […]
‘s Biz Chamber to host 2019 Outlook Seminar
Jan 07, 2019 (LBO) – The Ceylon Chamber of Commerce will organize its annual outlook seminar for 2019 under the theme of ‘Building Resilience Amidst Uncertainty’. The seminar serves as an important opportunity to understand both the outlook for the economy and key sectors in 2019. Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri […]
Sri Lanka Budget 2019: Targets public revenue to increase 17-pct, Debt to GDP down to 70-pct
Jan 07, 2019 (LBO) – Sri Lanka’s Finance Ministry says Budget 2019 will increase public revenue to 17 percent of Gross Domestic Product (GDP) while capital expenditure will be limited to 3.5 percent of GDP. It will also target maintaining the debt-to-GDP ratio to just 70 percent with recurrent expenditure cut down to 15 percent […]
Hayleys Advantis partners with Trustworthy.Ae Group to manage Abu Dhabi container facility
Jan 07, 2019 (LBO) – Hayleys Advantis , the transportation and logistics arm of Hayleys PLC, announced that it has entered into a deal with Dubai-based Trustworthy.ae Group. “Advantis is to operate and manage a state of the art Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the […]
LRT project to kick start in 2019 : Cabinet nod for Japanese aid of USD1850Mn
Jan 04, 2019 (LBO) – Sri Lanka’s Finance Ministry says that cabinet approval has been received to go ahead with US 1850 million dollar loan agreement with the Japan International Cooperation Agency (JICA) to commence initial work on the islands much anticipated LRT project. The ministry said that the loan, will be disbursed in six stages and […]
LankaPropertyWeb.com Acquires Lamudi.lk
Jan 04, 2019 (LBO) – Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved […]
Sri Lanka and Nepal to strengthen economic cooperation
Jan 02, 2018 (LBO) – The Embassy of Sri Lanka in Nepal, together with the Nepal- Sri Lanka Chamber of Commerce and Industry organized a programme on “Promotion of Economic relations between Sri Lanka and Nepal” at Hotel Radission in Kathmandu, recently. Sri Lanka’s Ambassador to Nepal Swarna Perera and President of the Nepal- Sri […]
‘s Dialog announce live transmission of South Asia’s first 5G pilot
Jan 01, 2019 (LBO) – Dialog Axiata announced the commissioning of South Asia’s first fully functional and standards compliant 5G transmission using commercial grade base stations and end user devices. Dialog’s pre-commercial 5G transmission was enabled in collaboration with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) who has lead the region in making available […]
‘s Ken Hu expresses confidence in business
Dec 28, 2018 (LBO) – Huawei rotating Chairman Ken Hu issued a strong message of confidence in Huawei’s business growth and prospects, citing the trust of hundreds of network operators, nearly half of the world’s Fortune 500 companies, and hundreds of millions of consumers. Huawei’s 2018 revenue, he said, was expected to exceed US$100 billion. He was […]