Category: Featured
‘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 […]
Sri Lanka economy grew 3.1-pct in 2017: Statistics Dept.
Mar 20, 2018 (LBO) – Sri Lanka’s statistics office says economic growth rate for the year 2017 has been estimated as 3.1 percent. Agriculture, Industry, Services and Taxes less subsidies on products have contributed their share to the GDP at current price by 7.7 percent, 27.2 percent, 55.8 percent and 9.3 percent respectively for the […]
Data is the lifeblood of decision-making
Mar 20, 2018 (LBO) – Data is the lifeblood of decision-making, without which policy makers are unable to make informed, effective and evidence-based decisions that lead to achieving the Sustainable Development Goals (SGDs). “For a country such as Sri Lanka, with established digital infrastructure, and 20.4 million people, gathering data should be more cohesive, and […]
Dialog invests Rs262.5mn for new Data Centre JV in Sri Lanka
Mar 20, 2018 (LBO) – Dialog Broadband Networks, a fully owned subsidiary of Dialog Axiata has entered into a joint venture with St. Anthony’s Property Developers to establish, operate and manage a Data Centre in Sri Lanka. As per the shareholders agreement signed between both parties on 16 March 2018, Dialog Broadband Networks (Private) Limited […]
Sri Lanka must enhance fiscal income to offset narrowing external drains: Fin Min
Mar 19, 2018 (LBO) – Sri Lanka’s Finance minister says the island must optimize utilizing local resources with a well-managed and efficient tax system as a pro-growth catalyst. My contention is that the new Inland Revenue Act will bring a paradigm shift to taxation in this country that is in line with our policy of […]
Marapana, Amunugama & Faiszer to represent Sri Lanka at UNHRC
Mar 19, 2018 (LBO) – Sri Lanka’s delegation to the 37th session of the UNHRC will include Foreign Minister Tilak Marapana, Special Assignments Minister Sarath Amunugama and Local Government Minister Faiszer Musthapha.The Foreign Ministry said Minister Marapana will lead the delegation, that includes officials from the Foreign Ministry, the AG Department, the Secretariat for Coordinating […]
Sri Lanka official reserves rebound to USD7.9bn in February
Mar 16, 2018 (LBO) – Sri Lanka’s gross official reserves have improved to 7,914.33 million US dollars by the end of February from 7,672.75 million dollars in January, official Central Bank data showed. Reserves improved to 7,952.58 million dollars by the end of last year but reduced in January. Foreign currency reserves were 6,894.42 million […]
Sri Lanka lifts ban on Facebook
Mar 15, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed the Telecommunications Regulatory Commission to lift the ban on popular social media site Facebook, immediately. “On my instructions, my secretary has discussed with officials of Facebook, who have agreed that its platform will not be used for spreading hate speech and inciting violence,” the […]
Singapore remains world’s most expensive city in 2018
Mar 15, 2018 (LBO) – The results of this year’s Worldwide Cost of Living survey reveal that Singapore is the most expensive city in the world for the fifth consecutive year.The survey sees Asian hubs like Hong Kong and Sydney compete with European cities such as Paris, Zurich and Oslo at the top of the […]
Sri Lanka up four notches in World happiness ranking
Mar 15, 2018 (LBO) – Sri Lanka has moved up to 116 position with a score of 4.471 from 120 in the World Happiness Report 2018. The report ranks 156 countries by their happiness levels, and 117 countries by the happiness of their immigrants. The island was also ranked 43rd in the sub-category of best […]