Category: Featured
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 […]
FM statement on misreporting of CID investigation regarding Namal Kumara
Sept 27, 2018 (LBO) – The Criminal Investigation Department (CID) is conducting investigations into serious allegations of an alleged conspiracy to assassinate President Maithripala Sirisena, former President Mahinda Rajapaksa and former Defence Secretary Gotabaya Rajapaksa, amongst others. As of this time, the only source for these allegations is a statement made by A.M. Namal Kumara. While […]
‘s looks at adaptive social protection to protect poor,vulnerable from disasters
Sept 26, 2018 (LBO) – The key concerns for Sri Lanka are less about extreme poverty; and more about vulnerability to an array of risks like disaster and the management of them, the Country Director of the World Baknk in Sri Lanka said. “Sri Lanka has put in place extensive programs to respond to disasters […]
President to address UN General Assembly today
Sept 25, 2018 (LBO) – President Maithripala Sirisena arrived in New York to attend the 73rd Session of the United Nations General Assembly (UNGA), Sunday. Ministers Rajitha Senaratne, Champika Ranawaka and Mano Ganeshan accompanied the President. Foreign Minister Tilak Marapana arrived in New York yesterday. President Sirisena is scheduled to address the UNGA on September […]