Category: Featured
Thai-Sri Lanka FTA talks launched; USD1.5bn mutual trade expected by 2020
July 13, 2018 (LBO) – Sri Lanka and Thailand on Friday officially declared the launch of negotiations for the proposed Free Trade Agreement (FTA) between the two countries. The first round of negotiations was held in Colombo with the blessings of the Thailand Prime Minister General Prayut Chan-o-Cha who paid an official visit to Sri […]
Government uses an unseen formula to manipulate fuel prices: MR
July 12, 2018 (LBO) – Sri Lanka’s ex-President Mahinda Rajapaksa alleges the government for what he called fleecing the public through fuel price manipulation using a price formula which nobody has seen. Rajapaksa says even though this kind of price manipulation is a standard practice in the large-scale retail industry, it is quite clear that […]
Transparency in tender procedures vital for attracting FDI inflows to Sri Lanka :EU
Jul 11, 2018 (LBO) – The 6th EU- Sri Lanka investor dialogue was held at the Ministry of Development Strategies and International Trade recently. Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities. “We have managed to resolve many of the issues that […]
Prevailing political uncertainty affects investor confidence: First Capital Research
July 11, 2018 (LBO) – Prevailing policy uncertainty created through the political uncertainty is a major deterrent which may slow down the gradual improvement of the economy and business confidence, a recent research showed. First Capital Research in its mid-year economic outlook said a major factor that is creating uncertainty in the upcoming Presidential Election […]
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, […]