Category: Featured
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 […]
‘The Frozen Fire’, first Sri Lankan movie to enter mainstream category at Oscars
Jul 05, 2018 (LBO) – For the first time in the history of Sri Lankan film industry, a movie from the local industry will vie for Oscars 2019. The movie titled ‘The Frozen Fire’, directed by Anuruddha Jayasinghe, is the first Sri Lankan movie to enter in mainstream ‘Best Picture’ category of Oscars 2019, officials […]
JKH hits post war valuation lows as second Balendra era beckons
Jul 04, 2018 (LBO) – The Colombo Stock Exchange has had a tough 2018, and there is no stock where this is more apparent than John Keells Holdings (JKH). JKH has been referred to as Sri Lanka’s bluest of blue chips. To many foreign institutional investors, JKH is the only stock in Sri Lanka that […]
Transparency International calls for four key amendments to National Audit Bill
Jul 04, 2018 (LBO) – Transparency International Sri Lanka (TISL) has released a legislative brief on the National Audit Bill detailing key amendments to be made in committee stage. The brief is being released ahead of a debate on the Bill in Parliament, Thursday. It highlights four key areas of concern with the provisions of the existing […]
No backward calculation to obtain GDP with pre-decided deflators: Stats Office
July 03, 2018 (LBO) – Sri Lanka’s statistics office rejecting the recent claims on the GDP estimates said it is almost impossible to carry out backward calculations to obtain GDP with pre-decided GDP deflators. Releasing a statement, Department of Census and Statistics (DCS) said it is also not an internationally accepted practice of estimating national […]
Korean concessional loan of USD 14Mn to support garbage collecting in local authorities
Jul 02, 2018 (LBO) – The Government of Republic of Korea has agreed to provide two concessional loans for US 14 million dollars (Approximately Rs.2,240 million) to supply of 190 nos. of garbage collecting compactors to Local Authorities of Sri Lanka. This initiative is in line with the Government’s target of strengthening local authorities with […]
Gamifying ahead through the enterprise solutions landscape : Virtusa
Globally, we are witnessing a steady rise in the pace of digital transformation with enterprises leading the charge. Gartner, Inc. projects worldwide IT spending to total $3.7 trillion in 2018 and notes that enterprise software continues to exhibit robust growth, thanks to the rise in the number of businesses actively investing in digital technologies to […]
Sri Lanka reiterates that Hambantota cannot be used for military purposes
July 02, 2018 (LBO) – Sri Lanka has informed China that Hambantota cannot be used for military purposes, Prime Minister’s office said in a statement clarifying a recent news item. Clarifying the PM’s speech made at the Dr. Saman Kelegama memorial conference, the Prime Minister’s office, however, said that the PM negotiated with Prime Minister […]
Sri Lanka private sector to facilitate skills supply in tourism sector with launch of TSC
Jul 02, 2018 (LBO) – The Private Sector Tourism Skills Committee (TSC) launched Tourism Workforce Competitiveness Road-map in collaboration with the private tourism industry to take on the challenge of demonstrating to Sri Lanka’s young women and men that a career in the fast-growing tourism and hospitality industry can be safe, stimulating, well-compensated and full […]