Category: Featured
Sri Lanka Govt to ensure continued progress of financial inclusion: Fin Min
Apr 18, 2018 (LBO) – Minister of Finance Mangala Samaraweera says it is important for the Sri Lankan financial system to have robust access and engagement with the global financial architecture. The challenge for countries like Sri Lanka is how to ensure continued progress of financial inclusion, he said. “One negative fall-out is “de-risking”, the scenario […]
Virtusa says 85-pct businesses plan to invest in digital transformation in 2018
Virtusa Corporation(NASDAQ GS:VRTU), a global provider of digital engineering and IT outsourcing services that accelerate business outcomes for its clients, announced the findings of The Digital Transformation Race Has Begun, a September 2017 study commissioned by Virtusa and conducted by Forrester Consulting, that reflects the digital maturity of firms worldwide. The study evaluates the state of […]
Sri Lanka’s CEB threaten TU action, Says not liable for inconvenience to public
Apr 17, 2018 (LBO) – Sri Lanka’s Ceylon Electricity Board Engineers Union (CEBEU), of the state owned electricity supplier Ceylon Electricity Board (CEB) is to take a trade union action from 20th April against its regulator Public Utilities Commission of Sri Lanka demanding the approval CEB’s power generation plan. The regulator amended and approved the […]
South Asia regains growth lead, Still lags on jobs
Apr 17, 2018 (LBO) – South Asia has regained its lead as the fastest growing region in the world, supported by recovery in India. With the right mix of policies and reforms, growth is expected to accelerate to 6.9 percent in 2018 and 7.1 percent next year. The twice-a-year South Asia Economic Focus (SAEF) finds that the […]
Sri Lanka Central Bank issues warning on virtual currencies
Apr 17, 2018 (LBO) – The Central Bank has warned the pubic about the use of “virtual currencies”, commonly used to refer to digitally created representations of value that are issued by private developers and denominated in their own unit of account. “It is hereby notified to the public that CBSL has not given licence or […]
World Bank warns of reform slowdown amid challenging political environment
Apr 17, 2018 (LBO) – Sri Lanka’s growth is projected to rebound in 2018 and continue to be around 4.5 percent in the medium term, driven by private consumption and investment, the Wold Bank says in its latest report. “Inflation will stabilize at the mid-single digit level as the impact of natural disasters wears off, […]
SriLankan reports revenue of Rs.126.9Bn in 2017/18
Apr 16, 2018 (LBO) – National carrier SriLankan Airlines has achieved a un-audited annual passenger revenue of 126.9 billion rupees (US Dollars 830.7 million) for its just ended financial year of 2017/18. “This is the highest ever in the Company’s 38-year history,” the Airline said in a statement. The revenue comes on the back of recent […]
Sri Lanka President to attend CHOGM in London and meet UK PM May
Apr 16, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena left for the United Kingdom, Sunday to attend the Commonwealth Heads of Government Meeting (CHOGM) to be held in London. The President will attend a series of meetings scheduled to be until April 20 including meetings with British Prime Minister Theresa May, Commonwealth Secretary General […]
‘s Norochcholai power plant shuts down temporarily
Apr 12, 2018 (LBO) – The unit one of Lakvijaya power station which is also known as the Norochcholai power station has been shut down following the release of harmful emissions from its smokestack. The provincial environmental authority of North Western province has asked the Norochcholai plant to be shut down from yesterday evening (11/4/18), an official […]
Asia will grow at 6-pct in 2018, Trade risk warnings: ADB
Apr 12, 2018 (LBO) – The Asian Development Bank raised its 2018 economic growth estimate for developing Asia to 6.0 per cent from 5.8 per cent, citing solid export demand, but said US protectionist measures and any retaliation against them could undermine trade. Growth in developing Asia would only ease slightly to 5.9 per cent […]
Sri Lanka Govt call for expediting activities related to exploration and production of petroleum
Apr 12, 2018 (LBO) – Sri Lanka’s cabinet of ministers has called for an action plan for expediting the activities related to exploration and production of petroleum. It has been planned to enter in to agreements with selected companies to explore the petroleum in Eastern Coastal area and shallow sea areas, a cabinet statement said. “The attention […]
‘s Port City ready for investors
Apr 11, 2018 (LBO) – CHEC Port City Colombo (Pvt) Ltd., presented the Development Control Regulations (DCR) for the Colombo Port City project.to the authorities, Tuesday. “This is a signal for the marketing team to sell it as real estate,” Minister of Megapolis and Western Province Development Champika Ranawaka said at the presentation ceremony in Colombo. […]