Category: Featured
Pidilite opens new adhesive manufacturing plant in Polgahawela
Jul 11, 2018 (LBO) – A state-of-the-art manufacturing plant of Pidilite Lanka (Private) Limited was formally commissioned at Polgahawela in Sri Lanka’s North Western Province, recently. It is a joint venture of India’s Pidilite Industries Limited. The company is well-known brands in Sri Lanka include FEVICOL, the high-performance range of adhesives and Dr. FIXIT, an advanced […]
Sri Lanka President, Fin Min agree to go ahead with fuel price formula, Prices hiked
Jul 10, 2018 (LBO) – Sri Lanka’s President and Finance Minister following meeting earlier Tuesday decided to revise its fuel prices according to an earlier cabinet approved pricing formula. Accordingly the price of one litre of Petrol (Octane 92) will be increased by 8 rupees to 145 rupees, Petrol (Octane 95) will be increased by 7 rupees to […]
Simplifying exporter registration process is critical for export success: Study
July 10, 2018 (LBO) – Sri Lanka’s current exporter registration process is unnecessarily lengthy, inefficient and unduly burdensome especially for Small and Medium Enterprises (SMEs), a recent study has found.According to the main findings of a study conducted by Verité Research shows that many of these unnecessary steps cannot be justified on a rational basis. […]
Thailand PM to visit Sri Lanka, negotiations for a possible FTA
July 10, 2018 (LBO) – Prime Minister of Thailand, General Prayut Chan-o-cha will undertake an official visit to Sri Lanka on 12 and 13 July 2018. This visit takes place against the backdrop of discussions during President Sirisena’s visit to Thailand in November 2015. At the invitation of President Maithripala Sirisena, Prime Minister Chan-o-cha will […]
Sri Lanka needs to politically, financially revitalize and empower local governments: PM
Jul 10, 2018 (LBO) – Sri Lanka’s Prime Minister said that the island needs to reconsider the structure of it’s local governments as concepts such as mega-cities and global connectivity come into play. “The biggest issue in the management of mega-cities is that they involve many levels of Government and Local Authorities,” Prime Minister Ranil Wickremesinghe said. […]
SLASSCOM elects new chairman, board, and general council for 2018/2019
Jul 09, 2018 (LBO) – SLASSCOM, a representative body that represents growth of the Sri Lankan IT and BPM Industry elected Jeevan Gnanam, chief executive officer/director, Orion City as the organizations Chairman during its Annual General Meeting recently. The members also elected the office bearers for the term 2018/19. Addressing the gathering, Jeevan shared a five-point […]
‘s govt gets USD 50Mn loan from OPEC fund for international development
Jul 09, 2018 (LBO) – Sri Lanka’s government signed a loan agreement for obtaining financial assistance of US 50 million dollars from OPEC fund for International Development (OFID) for implementation of technological education development programme Under current portfolio, OFID provides financing for road and irrigation sectors. The lines and working pattern of our workforce is bound […]
‘s women entrepreneurs finance initiative
Jul 09, 2018 (LBO) – The Asian Development Bank has signed an grant agreement of US 9.5 million dollars for the Women Entrepreneurs Finance Initiative (We – Fi) to support the ongoing Small and Medium Enterprises (SMEs). Financial inclusion for SMEs is important to realize the development objectives of the Government such as promoting exports, […]
Fuel pricing chaos: Gov Info Dept says CPC will sell fuel at previous rates
July 06, 2018 (LBO) – Government Information Department says the Ceylon Petroleum Corporation has decided to sell fuel at the previous rates. Director General of the Government Information Department, Sudarshana Gunawardana in a report to the Official Government News Portal says the circular regarding this decision has been sent to the CPC. In line with […]
Sri Lanka gross official reserves improve to USD 9.2 bn by end June
July 06, 2018 (LBO) – Sri Lanka’s gross official reserve position is estimated to have improved to around 9.2 billion US dollars by end June 2018, compared to 8.0 billion dollars at end 2017. The reserves include international sovereign bond issued in April, the receipt of the fifth tranche from the IMF, receipts from the […]
Central Bank maintains policy interest rates at current levels
July 06, 2018 (LBO) – Monetary Board of the Central Bank, at its meeting held on 05 July 2018, has decided to maintain policy interest rates at their current levels.Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR) remain at 7.25 per cent and 8.50 per cent, respectively. The Board’s decision is […]
Sri Lanka continues upward trend in tourist arrivals: June up 19.0-pct
Jul 05, 2018 (LBO) – Sri Lanka’s tourist arrivals was up 19.0 percent to 146,828 in June 2018 from an year ago driven by the islands two largest source markets India and China, official data shows. Almost 98 percent of tourists travelled by air to Sri Lanka. As at 31st June 2018, 1,164,647 tourists had visited Sri Lanka […]