Category: Featured
Sri Lanka Central Bank rejects recent news articles on increased money printing
Nov 07, 2018 (LBO) – Sri Lanka’s Central Bank on Wednesday rejected newspaper articles published about the increased money printing by the Central Bank in the past few days. The Central Bank says the concepts and facts in such articles remain grossly inaccurate and advised general public to refer to accurate technical articles that are […]
Foreign Minister Amunugama says “no justification for changing Travel Advisories”
Nov 02, 2018 (LBO) – Foreign Minister Dr. Sarath Amunugama, said that there was no justification for the Travel Advisories issued by a few countries since there have been no incidents of violence or disruption in the country following the recent events. The Minister made these observations when he met with the leading inbound tour operators, […]
Sri Lanka moves up 11 notches in Ease of Doing Business Index 2019
Nov 02, 2018 (LBO) – Sri Lanka rose 11 notches in the Ease of Doing Business index 2019 being ranked 100 among 190 economies, the World Bank said. Sri Lanka has carried out four reforms which included making dealing with construction permits easier, while the introduction of online systems made it easier to pay taxes. […]
Finance Minister introduces changes to WHT, VAT, Income Tax, Telecom Levy
Nov 01, 2018 (LBO) – Sri Lanka’s Prime Minister as the new Finance Minister has given direction to implement a range of initiatives to revive the economy including the changes introduced for WHT, VAT, Income tax and Telecommunication Levy. The Finance Ministry said necessary Gazettes for these tax-related proposals will be issued today and Cabinet approval […]
Sri Lanka Finance Minister cuts fuel prices under new economic programme
Nov 01, 2018 (LBO) – Given the impact of fuel pricing on all strata of the society especially those engaged in transport, agriculture and fisheries sectors, prices of fuel have been reduced with effect from midnight today.Accordingly, Petrol (Octane 92) will be reduced by 10 rupees per litre, Auto Diesel by 7 rupees per litre […]
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 […]