Category: Featured
Sri Lanka port volumes up
Nov 13, 2018 (LBO) – State owned Jaya Container Terminal (JCT) of Sri Lanka Ports Authority (SLPA), witnessed the highest growth of 23.3 percent in transshipment container throughput for the first nine months (from January to September) in 2018 as against the corresponding period in 2017. During the first nine months of 2018, the transshipment […]
Dipped Products posts PBT of Rs.553Mn in 1H 2018/19
Nov 13, 2018 (LBO) – Dipped Products Group, a subsidiary of the Hayleys Group reported a profit before tax of 553 million rupees for the 1H of 2018/19, a growth of 141 percent over the previous year. The Company attributed the profits to strong gains from performance improvement initiatives in local operations and significant contribution […]
Sri Lanka Presidents explains reasons for dissolving parliament
Nov 12, 2018 (LBO) – Sri Lanka’s president Maithripala Sirisena said the main reason to dissolve Parliament last Friday night was claims of parliamentarians being bought over. In an address to the nation late Sunday night President Sirisena said, all of you will acknowledge what a tragical situation in politics when the value of the Members […]
Sri Lanka President dissolves Parliament
Nov 09, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has signed the proclamation to dissolve the Parliament from Friday midnight.According to the relevant Gazette, the fifth day of January 2019 has been fixed as the date for the election of the Members of Parliament. The leader of Pivithuru Hela Urumaya Udaya Gammanpila earlier in […]
EU warns Sri Lanka constitution crisis could damage reputation and deter investors
Nov 09, 2018 (LBO) – Sri Lanka’s prevailing political crisis could further delay and damage the island’s international reputation and deter investors, a statement said.“Respect by all stakeholders for the provisions of the constitution will be important to maintain the confidence of the Sri Lankan people in democratic governance and the rule of law, the […]
Sri Lanka President appoints more ministers and state ministers
Nov 09, 2018 (LBO) – Two new Cabinet Ministers and five new State Ministers were sworn in before President Maithripala Sirisena at the President’s official residence, Wednesday. The appointments are as follows: Bandula Gunawardena – Sworn in as International Trade and Investment Promotions Minister Susil Premajayantha – Sworn in as Public Administration, Home Affairs and Justice […]
Sri Lanka tea prices mixed in Oct 2018
Nov 09, 2018 (LBO) – Sri Lanka’s low growns teas continued to meet with good demand, whilst high and mid grown small leaf teas continued to witness downward pressure in prices following the lower quality and the higher volumes on offer, a recent report said. “National average for the month of October 2018 totalled Rs.586.19 […]
Sri Lanka tourist arrivals up only 0.5-pct in Oct 2018
Nov 08, 2018 (LBO) – Sri Lanka’s tourist arrivals during October 2018 was 153,123 in comparison to October last year, there is a growth of 0.5 percent when the arrivals were 152,429. India, China, United Kingdom, Germany and Australia were Sri Lanka’s top five international tourist generating markets in the month of October this year. […]
Sri Lanka Public Services Trade Union asks Speaker to act on parliamentary majority
Nov 09, 2018 (LBO) – The Public Services National Trade Union Federation called on Speaker Karu Jayasuriya to go along with the 116 legislators who wanted him to take up the question of resolving the crippling political crisis. The full statement follows:
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. […]