Category: Featured
Sri Lanka Fin Min hikes fuel price: Petrol Rs.149 and Diesel Rs.123
Sept 11, 2018 (LBO) – Sri Lanka’s Finance Ministry has raised the petrol price to 149 rupees a litre from 145 rupees with effect from midnight September 10 and diesel to 123 rupees from 118 rupees. The Retail Prices of Auto Fuel is as follows: Type of Fuel Present Price Revised Price (Rs.) Petrol 92 […]
Sri Lanka to open VAT refund counter for tourists at Bandaranaike Airport
Sept 10, 2018 (LBO) – Sri Lanka’s Finance Ministry is to open a special counter at the Bandaranaike International Airport to implement the new VAT refund system for foreign tourists.When foreign tourists purchase goods that are tax deductible, they are able to claim 15 percent VAT charged on such goods as a refund through this […]
Recommendations for positioning Sri Lanka as attractive FDI destination: AMCHAM/STAX
Sept 10, 2018 (LBO) – AMCHAM, in collaboration with STAX, recently launched the 2018 whitepaper ‘FDI Landscape and Investor Sentiment in Sri Lanka’ at a gathering of business and government leaders including Malik Samarawickrama, minister of Development Strategies and International Trade. In addition to providing a definitive view of FDI statistics, the whitepaper interweaves expert insights […]
Sri Lanka PM leaves to attend World Economic Forum of ASEAN in Hanoi
Sept 10, 2018 (LBO) – Prime Minister Ranil Wickremesinghe left for Hanoi, Vietnam on a three-day official to attend the World Economic Forum on the Association of Southeast Asian Nations (WEF ASEAN). The World Economic Forum on the Association of Southeast Asian Nations will be held from Sept.11-13 and 1,000 delegates from 43 countries and regions […]
Impact of imposition of VAT on condominium sales: JLL report
Sept 10, 2018 (LBO) – In the wake of continuing uncertainty with regard to the effective date on the reintroduction of Value Added Tax (VAT) on residential condominiums, real-estate consulting agency, Jones Lang LaSalle (JLL) released a new report analyzing the likely impact of impending policy changes on the Sri Lankan real estate sector. Following the […]
Colombo Port tops Alphaliner global container port rankings for first time
Sept 09, 2018 (LBO) – Colombo Port has been ranked as the fastest growing container port out of 30 major ports in the world for the first half of this year.In container handling, Colombo Port has recorded a 15.6 percent growth for the first half of 2018 over the same period of last year according […]
USAID partners with local banks to increase lending for small businesses
Sept 07, 2018 (LBO) – US Agency for International Development (USAID) has partnered with Sri Lankan banks to announce nine million US dollars worth financing program for micro, small and medium-sized enterprises (MSMEs). Hatton National Bank and Sampath Bank have already partnered with this seven-year program to address the current lack of financing to key […]
Asoka Sirisena re-elected President of Sri Lanka Insurance Institute
Sept 06, 2018 (LBO) – Asoka Sirisena,senior deputy general manager, technical of Ceylinco Life Insurance Limited was re-elected as the President for 2018/2019 at the recently held annual general meeting of the Sri Lanka Insurance Institute (SLII). Asoka is a proud product of Maliyadeva Boys College, Kurunegala and counts over 25 years in the Life […]
President wants death penalty for those misuse public property, money
Sept 06, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says that even the death penalty should include in the laws against persons who misuse public property and public money.He made these remarks addressing the awards ceremony of the Parliamentary Committee Public Enterprises held at the premises of the Parliament, yesterday.He said that fulfilling the […]
Palm oil industry association launched to advocate sustainable growth in Sri Lanka
Sept 04, 2018 (LBO) – Sri Lanka’s Oil Palm industry has formally inaugurated an industry association under the aegis of the Ceylon Chamber of Commerce to promote common interests and advocate ‘Sustainable Growth through Responsible Production.’ Representing cultivators of oil palm, and refiners, processors, manufacturers, marketers and sellers of palm oil and other products of […]
Sri Lanka BoI targets 35 projects with Rs.46.4Bn in investments in the North
Sept 03, 2018 (LBO) – The Northern Province has benefited from investment as a result of the efforts of the Board of Investment of Sri Lanka. Among the BOI investments there are currently 6 apparel manufacturers which represent an investment of 8,000 million rupees and employ 7,917 workers. Another 15 projects in different sectors are […]
Leveraging trade-investment nexus will enable Sri Lanka create high value jobs: Fin Min
Sept 03, 2018 (LBO) – Leveraging the trade-investment nexus will enable Sri Lanka to create high value jobs and attract technology to drive productivity growth and real wage growth for citizens, the Finance Minister says. “In addition to enabling market access, it is also essential to address the supply side bottlenecks for investors,” Mangala Samaraweera, […]