Category: Featured
Invest more in people, or risk extinction: Oracle’s Dalal tells SLASSCOM Summit
Apr 02, 2018 (LBO) – No matter how successful companies are today, they may risk extinction if they fail to invest in their employees and won’t transform with changing times, Head of HCM Cloud Applications (Asia Pacific) at Oracle Corporation, Yazad Dalal recently warned companies and business leaders. He advised companies to invest in the […]
Reauthorized US GSP active for Sri Lanka from April 22
Mar 30, 2018 (LBO) – The reauthorized US GSP shall become active for Lankan exporters from this April, according to Sri Lanka’s Minister of Industry and Commerce.US has been the leading buyer of Lankan exports over the years and it continued its lead even last year. Sri Lankan exports to United States is now almost […]
Thumps up from US on GSP for Sri Lanka and others
Mar 29, 2018 (LBO) – Sri Lanka will be regaining the United States Generalised System of Preferences (GSP) trade concession which expired on December 31, 2017.When President Donald Trump signs the budget bill on Friday the the US government will be re-authorizing the process. Other countries will also be benifitting from this scheme.Nearly 3,500 different products from Sri […]
President gazettes Central Bank & SEC under Finance Minister
Mar 28, 2018 (LBO) – President Maithripala Sirisena has gazetted Central Bank and SEC under Finance Minister, few days ahead of the no-confidence motion against Prime Minister Ranil Wickremesinghe. Accordingly, Monetary Law Act and Securities and Exchange Commission Act has been classified as additional laws to be implemented by the Finance Minister. Central Bank and Securities and Exchange […]
Sri Lanka to call EOI for Colombo Port North Harbour feasibility
Mar 28, 2018 (LBO) – Cabinet nod has been received to select a suitable consultancy firm to conduct a feasibility study for the proposed Colombo Port North Harbour project.As per the cabinet proposal presented by Ports Minister Mahinda Samarasinghe, Expressions of Interest (EOI) and Request for Proposals (RFP) are to be called for the purpose […]
‘s Orix sells Sri Lanka LOLC stake for Rs.12.8Bn
Mar 28, 2018 (LBO) – Sri Lanka’s LOLC Holdings, a firm controlled by Deputy Chairman Ishara Nanayakkara has purchased a 30 percent stake held by Japan’s Orix group for 12.8 billion rupees, Wednesday. The company bought 142,458,490 shares at 90 rupees per share, a company source said. The shares closed at 111.00 rupees on Tuesday. The […]
Sri Lanka to raise USD1000mn via ETFF to finance budget expenses
Mar 27, 2018 (LBO) – Government says it intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in US Dollars or Japanese Yen or Euro or their combinations up to 1,000 million dollars or its equivalent in 2018.The FTFF is expected to be raised at a fixed rate or a floating rate, linked […]
Sri Lankan spice exporters slam India for introducing MIP for pepper
Mar 26, 2018 (LBO) – Sri Lanka’s Spices & Allied Products Producers’ & Traders’ Association slams India for introducing a minimum import price for pepper charging India for adding another barrier to trade. The association said in December last year, India introduced a minimum import price for Pepper of Indian Rupees 500 per Kilogram which […]
‘s Port of Colombo: 13th best connectivity in world
Mar 26, 2018 (LBO) – Port of Colombo has been ranked the 13th best connectivity port, up five places in the Drewry Port Connectivity Index for the 4th quarter in 2017. According to the rankings the Port of Colombo is also the top best connectivity port in South Asia. The Index recently announced the top 20 ports […]
‘s residential and retail markets beyond 2019: JLL
Mar 26, 2018 (LBO) – Sri Lanka’s residential real estate sector, especially high end condominiums,faces over supply challenges, with the recent re-imposition of 15 percent VAT on condominium sales, denting sentiment while retail markets too demonstrate less sustainability, real estate consultancy Jones Lang La Salle (JLL) said. JLL recently announced the company’s predictions for Sri Lanka’s […]
United National Front rallies round PM with confidence motion
Mar 23, 2018 (LBO) – Members of Parliament (MP) representing the United National Front (UNF) signed a motion supportive of Prime Minister Ranil Wickremesinghe, yesterday. The signed letter was handed over to the Leader of the House Lakshman Kiriella, who is due to hand it in to Speaker Karu Jayasuriya. The Joint Opposition on earlier this […]
Opinion: Economic reforms in Sri Lanka: Salvation or a recipe for inaction?
By Kithmina Hewage & Harini Weerasekera Economic reforms have become an urgent need for Sri Lanka, with successive governments since independence, resorting to short-term, politically expedient economic strategies that have placed considerable macroeconomic pressures whilst reducing Sri Lanka’s global competitiveness. Vision 2025, the current government’s short and medium-term policy direction, is aimed atsteeringthe economy towards […]