Category: Featured
Reforms have progressed but vulnerabilities remain: IMF Staff Mission
Mar 11, 2018 (LBO) – Despite weather-related shocks and some delays in implementation, program performance remains broadly on track, said IMF Staff Mission after a recent visit to Sri Lanka. The IMF staff team led by Manuela Goretti visited Colombo from February 27 – March 9 to hold discussions for the fourth review of Sri Lankan […]
Sri Lanka made minimal progress on UNHRC resolution: Verité Research
Mar 09, 2018 (LBO) – Sri Lankan government has made minimal progress towards the fulfillment of its commitments in UNHRC resolution on Sri Lanka, a research firm said. Verité said in a research report that only two out of 36 commitments saw an improvement in their implementation status in recent months. “Since March 2017, the […]
Sri Lanka tourist arrivals up 19.3-pct in February 2018
Mar 09, 2018 (LBO) – Sri Lanka tourist arrivals increased 19.3 percent in February against last year with the largest source market for tourists becoming China, followed by India and the United Kingdom. The total number of international tourist arrivals to Sri Lanka during February was 235,618. Almost 98 percent of tourists travelled by air to Sri Lanka. […]
President visits Kandy, Stresses on communicating precise information
Mar 08, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena held a special meeting in Kandy to discuss the current situation in the district and stressed the importance of communicating precise information to the public. The President discussed with religious leaders about the situation that has occurred suddenly and the leadership they can provide to […]
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 […]