Category: Featured
Tourist arrivals to Sri Lanka up 2.8-pct in September with largest source from India
Oct 05, 2018 (LBO) – Tourist arrivals to Sri Lanka were up 2.8 percent to 149,087 in September 2018 from a year earlier, official data showed. Last month, the largest source market for tourists was India, followed by China and the United Kingdom and almost 98 percent of tourists traveled by air to Sri Lanka. […]
President, NEC hold discussions on devaluation of rupee and economy
Oct 05, 2018 (LBO) – Special attention was drawn at a discussion regarding the promotion of Sri Lanka’s export sector and managing the devaluation of the rupee by the National Economic Council, headed by President Maithripala Sirisena. The NEC gathered under the patronage of President Maithripala Sirisena at the Presidential Secretariat, Wednesday with the participation […]
Sri Lanka tea prices marginally up in Sept 2018
Oct 04, 2018 (LBO) – Auction average for the month of September 2018 totalled Rs.537.77 compared to Rs.534.02 of August 2018 showing a marginal increase of Rs.03.75 month on month, a new report said. “However in comparison to September 2017 average of Rs.635.40 it shows a substantial decrease of Rs.97.63,” Forbes & Walker Tea Brokers said […]
Ceylon Motor Traders Association pushing for registration of vehicle importers
Oct 04, 2018 (LBO) – Ceylon Motor Traders Association (CMTA) suggests that the Government implements a scheme to register vehicle importers as it could be a first step towards controlling the quality and quantity of imports of motor vehicles. Releasing a statement, the association said through the registration, the consumer is at least to some […]
‘s consumer durable retailers
Oct 03, 2018 (LBO) – Sri Lanka’s consumer durable retailers’ operating cash flow is likely to weaken following new government regulations that impose a 100 percent cash margin on the import of most types of consumer durables, Fitch Ratings says. The credit profiles of rated retailers, such as Singer (Sri Lanka) PLC (A-(lka)/Stable) and Abans […]
Govt. expenditure for 2019 Rs.4,376Bn : Budget deficit 4.1-pct
Oct 02, 2018 (LBO) – As per the Appropriation Bill, which was presented to the Cabinet recently by Finance and Media Minister, Mangala Samaraweera, next year’s annual state expenditure will be 4,376 billion rupee.The budget deficit will be 644 billion rupees, 4.1 percent of Gross Domestic Product, the Finance Ministry said issuing a statement. The Government […]
Sri Lanka reserves at USD7.3bn; used only USD184mn YTD to defend rupee
Oct 02, 2018 (LBO) – Sri Lanka’s Central Bank says the country currently has 7.3 billion US dollars worth foreign reserves and expects to close this year with around 8.3 billion dollars of reserves. Senior Deputy Governor Nandalal Weerasinghe said that at the beginning of this year they expected to end the year with close […]
‘s visit to Oslo
Oct 02, 2018 (LBO) – The Sri Lanka Association for Software and Services Companies (SLASSCOM) will host multiple events in Norway and Sweden with the participation of the Prime Minister Ranil Wickremasinghe, who is visiting Oslo during 3rd to 5th October. The PM will be accompanied by the Minister of Fisheries and Aquatic Resources Development […]
Current policy stance desired, less probability for a rate hike: First Capital Research
Sept 29, 2018 (LBO) – First Capital Research believes that a policy rate change is not required at this moment considering the prevailing economic conditions of the country. First Capital Research also believes that the vulnerable external environment and lower GDP growth level provide less scope for the monetary board to increase rates.“The possibility of […]
Facebook resets log in tokens of 90 million users after attackers exploited system
Sept 29, 2018 (LBO) – Facebook has discovered a vulnerability that affected almost 50 million accounts after an external actor exploited their systems.Facebook said it’s clear that attackers exploited a vulnerability in Facebook’s code that impacted “View As” a feature that lets people see what their own profile looks like to someone else. “This allowed […]
ADB provides USD300Mn for elevated highway
Sept 28, 2018 (LBO) – The Asian Development Bank’s (ADB) has approved a US 300 million dollar loan to help in the construction of about 5.3 kilometers (km) of elevated toll highway with related facilities between the New Kelani Bridge (NKB) and Galle Face in central Colombo in Sri Lanka. The new highway is expected […]
US BUILD act passes House; aims to counter China’s debt-trap diplomacy
Sept 27, 2018 (LBO) – United States House of Representatives have approved the inclusion of the Better Utilization of Investments Leading to Development (BUILD) Act in the FAA Reauthorization Act of 2018.The House yesterday passed the Act by a vote of 398-23 and the legislation now heads to the Senate for consideration. BUILD Act is […]