Category: Featured
US, Japan, France, Afghanistan new Ambassadors present credentials to President
Nov 01, 2018 (LBO) – New Ambassadors of the United States, Japan, France, and Afghanistan have presented credentials to President Maithripala Sirisena today at the President’s House, Colombo.Foreign Ministry said the United States with the concurrence of the Government of Sri Lanka, has appointed Alaina Teplitz as the Ambassador of the US to Sri Lanka […]
Sri Lanka Parliament to be reconvened on Monday as earlier scheduled
Nov 01, 2018 (LBO) – Sri Lanka’s Parliament will be reconvened on Monday as earlier scheduled, quoting the President, Prime Minister Mahinda Rajapaksa said.The date was earlier fixed for the second reading of the Appropriation Bill (Budget Speech) which may use by the new government to present the vote-on-account instead of a full budget. President […]
S R Attygalle assumes duties as new Secretary to Finance Ministry
Oct 31, 2018 (LBO) – Deputy Secretary to Treasury S R Attygalle who has been appointed as the Secretary to Ministry of Finance and Economic Affairs and the Secretary to Treasury by President Maithripala Sirisena assumed duties in his new post at the Ministry of Finance, Wednesday afternoon. Attygalle who is from the Central Bank […]
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Oct 29, 2018 (LBO) – Moody’s says the current political crisis in Sri Lanka is credit negative for the sovereign and the President’s sudden appointment of Mahinda Rajapaksa as Prime Minister significantly heightens policy uncertainty. Issuing a statement, Matthew Circosta of Moody’s Investors Service said the possible social tensions that may unfold in the next few weeks […]
Parliament passes resolution to raise Rs.310Bn under Active Liability Mgmt
Oct 26, 2018 (LBO) – Sri Lanka’s Parliament on Friday passed a resolution to raise up to 310 billion rupees by way of loans, in or outside Sri Lanka under the Active Liability Management Act. The Active Liability Management Act provides the legal framework for the government to raise loans for management of public debt […]
Sri Lanka reiterates that Colombo East Terminal will not be given to any country
Oct 25, 2018 (LBO) – East terminal of Sri Lanka’s busiest Colombo port will not be given to any other country as it is being developed by the Sri Lanka Ports Authority, Port Minister Mahinda Samarasinghe reiterated today. In the master plan of Colombo port expansion project, the East Container Terminal (ECT) has a 1200m […]
Let us make this a starting point to double our revenue from tourism: PM
Oct 24, 2018 (LBO) – Sri Lanka should make Lonely Planet’s appreciation as a starting point to double the revenue from tourism, Prime Minister Ranil Wickremesinghe said. Delivering a special statement to the media on Wednesday, the premier said tourism has received a principal place in the country’s export economy since it can be one […]
Two weeks not enough to place EOIs for Hyatt and Hilton Hotels: Vasudeva
Oct 23, 2018 (LBO) – Sri Lanka’s government should extend the time period given to investors to place Expressions of Interests (EOIs) for the divestiture of Hyatt and Hilton Hotels, Parliamentarian Vasudeva Nanayakkara reiterated today. Nanayakkara who is a lawyer by profession said in a statement that real investors require time to get approvals from […]
Sri Lanka introduces Business to Consumer direct transaction under E-commerce
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry as envisaged in the Budget-2018 has established a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers.Sri Lankan Customers do enjoy this B2C e-commerce facility via E-bay and other trading platforms but not vice versa.Accordingly, hereafter […]
Finance Ministry justifies divestiture of Hyatt and Hilton Hotels
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry on Monday justifying the divestiture of Hyatt and Hilton Hotels said the decision was taken by the Cabinet and proposed in several budget speeches. The ministry further stated that independent financial advisers Lazard and MTI through their global offices have already begun to reach out to […]
Govt. will support retail sector to make Sri Lanka a regional shopping destination: Fin Min
Oct 19, 2018 (LBO) – Opportunities for the retail sector will continue to expand with Sri Lanka recently crossing the US 4,000 dollar GDP per capita threshold, the Minister of Finance said. Mangala Samaraweera told a retail forum in Colombo, Thursday. “Tourist arrivals this year have crossed the 2 million mark with growth of 11.6 percent, creating […]
Mangala reveals fuel pricing formula
Oct 18, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Smaraweera reveled to media the recently introduced fuel price formula calculation method following repeated calls for it. “The Maximum Retail Price (MRP) of auto fuels has been established as follows MRP = V1 + V2 + V3 + V4,” he told reporters in Colombo a short while […]