Category: Featured
Bangladesh’s first ever FTA will be with Sri Lanka later this year
By P.K. Balachandran Bangladesh’s first-ever FTA will be with Sri Lanka and that is expected to signed by year end, Bangladesh’s Foreign Secretary Mohmmad Shahidul Haque told the media in Dhaka on Friday. “Prime Minister Sheikh Hasina and President Maithripala Sirisena decided to sign the deal in 2017 and asked that negotiations and studies be […]
Torture in Sri Lanka among “worst in the world,” says UN Special Rapporteur
By P.K. Balachandran Torture of persons in custody under the Prevention of Terrorism Act (PTA) in Sri Lanka is on an “industrial scale” and is “among the worst in the world”, the UN Special Rapporteur on torture and counter-terrorism, Ben Emmerson said here on Friday. Briefing the media here after a four-day tour of Sri […]
‘s
July 14, 2017 (LBO) – Evidence of effective implementation of reforms that leads to significant and lasting improvements in tax collection, and more stable external financing conditions, would support a return of Sri Lanka’s rating outlook to stable, Moody’s said. Moody’s Investors Service said signs that planned fiscal consolidation measures are less effective than Moody’s […]
Sri Lankan Supreme Court petitioned to stop building steel houses for IDPs
By P.K.Balachandran Tamil National Alliance (TNA) MP for Jaffna District, M.A.Sumanthiran, on Thursday filed a Fundamental Rights petition in the Supreme Court to stop a government project to build 65,000 pre-fabricated steel houses for people displaced by war in the Northern and Eastern Provinces. The respondents in the case are the Minister for Resettlement and […]
National Export Strategy to be implemented with budget 2018: Advisor
July 13, 2017 (LBO) – Sri Lanka’s proposed National Export Strategy will be implemented with the budget of 2018, a senior official at the International Trade Center said. The International Trade Ministry and Export Development Board, together with the help of the International Trade Center, is currently conducting the second round of consultations to chart […]
Sri Lanka President heads 73-member delegation to Bangladesh
By P.K. Balachandran July 13, 2017 (LBO) – Sri Lankan President Maithripala Sirisena, accompanied by a 73-member delegation including representatives of 40 private sector companies, is currently in Bangladesh on a three-day visit to sign ten agreements on a variety of areas. Bangladesh officials said that the agreements relate to cooperation in coastal shipping; agriculture; […]
World Bank doubles assistance to Sri Lanka over next three years
July 13, 2017 (LBO) – Sri Lanka will receive US1,340 million dollars in financial and technical assistance through a transitional support facility of the International Development Association (IDA), a member of the World Bank group, over the next three year period starting from July, the finance ministry said. Previously Sri Lanka received US 660 million dollars IDA […]
Sri Lanka to manage use of polythene, polystyrene
July 13, 2017 (LBO) – Sri Lanka’s government has decided to manage the use of polythene with the intention of minimizing its environmental impact from September this year. The cabinet has approved a proposal made by President Maithripala Sirisena, in his capacity as the Minister of Mahaweli Development and Environment, to implement short term, medium […]
CSE records second highest yearly foreign inflow
July 12, 2017 (LBO) – Sri Lanka’s Colombo Stock Exchange has recorded the second highest-ever yearly net foreign inflow of 22.8 billion rupees, the exchange said. The highest net foreign inflow of 38.6 billion rupees was recorded in 2012. On Monday, foreign investors bought 127.4 million rupees worth of shares while selling 26.3 million rupees […]
Sri Lanka cuts export earnings target to USD18bn by 2020
July 12, 2017 (LBO) – Sri Lanka is currently looking at a target for export earnings of 18 billion US dollars by 2020, State Minister of International Trade Sujeewa Senasinghe said. In 2015, Sri Lanka originally expected a 50 billion dollar export target by 2020 and later reduced it to 20 billion dollars amid sluggish […]
‘s new Inland Revenue Act will be investor friendly: Finance Minister
July 12, 2017 (LBO) – Sri Lanka’s Finance Minister says the main objective of the new Inland Revenue Bill is to simplify the tax system in order to create an investor friendly environment to attract more foreign investments. “The new Inland Revenue Bill will broad-base the tax system and incorporate globally accepted new tax principles […]
Odel plans USD106mn mixed development project in Sri Lanka
July 12, 2017 (LBO) – Odel Properties One (Private) Limited, a fully owned subsidiary of Odel, has entered into an agreement with Sri Lanka’s Board of Investment to set up a mixed development project. Odel said in a stock exchange filing that as per the agreement signed on 30th June 2017, the envisaged investment will […]