Category: Featured
Sri Lanka blocks Facebook, Instagram to prevent spread of hate speech
Mar 07, 2018 (LBO) – Sri Lanka has temporarily blocked social media web sites like Facebook, Instagram and WhatsApp to avoid the spread of hate speech in the country.The Cabinet Spokesman Minister Rajitha Senaratne on Wednesday said the government has decided to block access to certain social media. Telecom Regulatory Commission (TRC) has started to […]
Laugfs Gas restructures to create opportunities for investors and foster growth
Mar 07, 2018 (LBO) – Sri Lanka’s a Laugfs Gas PLC announced a strategic restructuring to consolidate dominance in energy operations and create opportunities for investors to invest in individual businesses and foster concentrated growth opportunities, a senior official said Tuesday. “Once the segregation is completed by 31st March as expected, all different entities will […]
Sri Lanka PM reiterates island on track for economic prosperity
Mar 05, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said that the island is on the path of becoming an attractive place for business in South Asia and one of the fastest growing regions in the world. “We are undertaking many policy initiatives to incentivize direct private investment both foreign and local. In 2018, […]
Cabinet approves proposal to conduct feasibility for India, Japan aided LNG terminal
Feb 28, 2018 (LBO) – Sri Lanka’s cabinet on Tuesday approved a proposal to conduct a feasibility study for the proposed Liquefied Natural Gas (LNG) Terminal and the Floating Storage Regasification Unit (FSRU). Accordingly, Sri Lanka will sign a tripartite MoU with India and Japan soon to conduct a feasibility study. Cabinet has also decided […]
Sri Lanka needs firm policy to mitigate future refinancing risks: Fin Min
Feb 27, 2018 (LBO) – Sri Lanka faces refinancing risks in the coming years and need a concerted and coordinated policy response to mitigate such risks, Finance Minister Managala Samaraweera said. “It is clear that Sri Lanka, like many developing nations, faces such refinancing risks in the coming years. This warrants a concerted and coordinated […]
President congratulates new cabinet; changes to UPFA side soon
Feb 25, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena after the much awaited mini cabinet reshuffle, congratulated the newly appointed Cabinet, State and Deputy Ministers. He said these changes as well as those soon to be made on the UPFA side of the government will strengthen the government to better serve the people. UPFA […]
Elon Musk starts SpaceX mission to provide broadband from satellites
Feb 23, 2018 (LBO) – SpaceX made history yet again with the successful deployment of first two Starlink global internet demo satellites to orbit, opening a new generation of satellite technologies that will provide broadband services.Starlink is a satellite constellation development project underway by SpaceX. On Thursday, Falcon 9 launched the two demo satellites called […]
Sri Lanka’s external sector improve, BOP record surplus : CB
Feb 23, 2018 (LBO) – Sri Lanka’s external sector performance continued to improve in the month of December 2017, mainly with higher inflows to the Financial Account of the Balance of Payments (BOP), the Central Bank said in its latest report. . Although earnings from exports increased at a higher rate, the increase in import expenditure resulted […]
Sri Lanka up 4 notches to 91 on Corruption index
Feb 23, 2018 (LBO) – Sri Lanka has moved up four places to 91st from 95th, in the Corruption Perceptions Index (CPI) 2017 released by Transparency International with the island failing to show significant improvement. The index ranks 180 countries and territories by their perceived levels of public sector corruption. This year, New Zealand and Denmark rank highest […]
National Government continues: PM, UPFA General Secretary
Feb 21, 2018 (LBO) – Prime Minister told Parliament Wednesday that the national government will continue according to the constitution of the country. Premier Ranil Wickremesinghe said that the agreement on the national government is still valid as per the law and there is no need to amend it. Wickremesinghe said he is working according […]
Frontier Research outlines salient features of new Forex Act
Feb 21, 2018 (LBO) – Sri Lanka’s new Foreign Exchange Act came into effect last year after the Parliament passed it with amendments. The new law removed criminalisation of violations of the exchange control act and associated prison sentences. New Act covers matters including classes of capital transactions, opening and maintenance of accounts, permitted investments […]
Sri Lanka President promises new Economic programme
Feb 21, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena said a new economic programme of the government will be finalized by the National Economic Council (NEC) by next week. Chairing a meeting at the Presidential secretariat the President held detailed discussions on the rapid changes required in the country, Tuesday. He said that short term […]