Category: Featured
Sri Lanka trade deficit expands over USD1bn in January; imports USD2bn
Apr 09, 2018 (LBO) – Sri Lanka’s trade deficit has expanded in January surpassing 1 billion US dollars for the second consecutive month due to significant level of imports offsetting the increase in export earnings. While earnings from merchandise exports increased, expenditure on imports also increased significantly outweighing the performance in export earnings during the […]
Joint committee of both parties to study cabinet reshuffle: President
Apr 06, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena on Friday said the proposed cabinet reshuffle will be studied by a joint committee of the two parties in the government before it got implemented.Addressing media heads at the President’s House in Colombo, he said reshuffle would be discussed at the Central SLFP Committee meeting […]
Need more progress on HR conventions relevant to GSP+: European delegation
Apr 05, 2018 (LBO) – A delegation of the European Parliament Committee on International Trade (INTA) who visited Sri Lanka highlighted that the country need to make further progress in implementing the international human rights conventions relevant to GSP+ and further improve labour conditions. The delegation, chaired by Jan Zahradil, and composed of six INTA members including […]
Sri Lanka Prime Minister wins no confidence motion
Apr 04, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe on Wednesday secured a majority of votes showing the confidence Parliamentarians placed on him. Prime Minister Wickremesinghe received 122 votes in favor. Joint Opposition who initiated the no confidence motion only received 76 votes. 26 Parliamentarians were absent. Wijedasa Rajapaksa voted against the motion […]
We will vote for No Confidence Motion to oust PM: SLFP Media Spokesman
Apr 04, 2018 (LBO) – Contrary to the statement made by State Minister A.H.M. Fowzie, Media Spokesman of the SLFP, State Minister Dilan Perera told LBO that they will vote for the no confidence motion to oust Prime Minister Ranil Wickremesinghe. State Minister A.H.M. Fowzie earlier in the morning told LBO that the party has […]
No Confidence Motion: Fowzie says SLFP decides to abstain from voting
Apr 04, 2018 (LBO) – Sri Lanka Freedom Party has decided to abstain from voting at the no confidence motion against the Prime Minister, State Minister A.H.M. Fowzie told LankaBusinessOnline. Minister Fowzie said few SLFP parliamentarians who wanted to vote against the no confidence motion in favor of Prime Minister, will also have to abstain from voting. The […]
Sri Lanka CB cuts policy rate ceiling by 25bps
Apr 04, 2018 (LB0) – Sri Lanka’s central bank has decided to reduce the Standing Lending Facility Rate (SLFR), which is the upper bound of the policy interest rate corridor of the Central Bank, by 25 basis points, a statement said. The Monetary Board was of the view that the favourable developments in the economy […]
New IR act most progressive in SA, Will bring in extra Rs.60Bn in revenue
Apr 03, 2018 (LBO) – Sri Lanka’s Finance ministry says the government expects to earn a an additional revenue of 60 billion rupees each year through the new Inland Revenue Act (IRA). “This year, we expect the government to rake in 30 billion rupees,” S.R. Attygalle, deputy secretary of the Finance and Mass Media Ministry said. […]
US–China trade war escalates as China imposes tariffs on US goods
Apr 02, 2018 (LBO) – China has suspended tariff concessions on 128 items of U.S. products including pork and fruits starting Monday, Country’s Finance Ministry said. China’s Finance Ministry said in a statement that the measure was taken in order to safeguard China’s interests and balance the losses caused by the United States. “China’s advocacy […]
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 […]