Category: Featured
Sri Lanka blacklists 67 foreign recruitment agencies in 2017
July 03, 2017 (LBO) – The Sri Lanka Bureau of Foreign Employment has blacklisted licenses of 67 foreign recruitment agencies in the first half of this year. Lack of cooperation for dispute settlement, illegal recruitment, and preparing fake documents were among reasons to blacklist recruitment agencies. The bureau said in a statement that in 2016 […]
Sri Lanka’s new revenue law to help credit profile: Moody’s
July 03, 2017 (LBO) – Sri Lanka’s new Inland Revenue Act will contribute to increasing the country’s very low level of government revenues, a key constraint on the sovereign credit profile, Moody’s said. Last month, the government made public a new income tax bill that will replace the existing law with a more efficient, modern […]
Japan provides Rs358 mln grant for public sector scholarships
July 03, 2017 (LBO) – The Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme has offered grant assistance of 358 million rupees to Sri Lanka for the year 2018 to provide 15 Scholarships. The system was introduced in Sri Lanka in 2010 by the Government of Japan in order to provide opportunities for […]
Sri Lanka enters USD34mln financing for smallholder agribusiness
July 03, 2017 (LBO) – International Fund for Agricultural Development (IFAD) and the Government of Sri Lanka have signed a financial agreement for the implementation of the Smallholder Agribusiness Partnership (SAP) Program. The programme will provide a platform for 57,500 poor rural households to increase their income and food security by expanding livelihood and business […]
GSP Plus could add USD350 mln in export revenue, improve FDI: Min
July 03, 2017 (LBO) – GSP plus eligibility could add 350 million dollars in export revenue to Sri Lanka, while increasing potential for FDI, the minister for industry and commerce said. “The enhanced market access that Sri Lanka gets from EU GSP+ is very significant,” said Minister Rishad Bathiudeen. “In fact, according to the Department […]
Reforms in Sri Lanka urgent but need to limit cost to the poor: WB
June 30, 2017 (LBO) – Sri Lankan government led reforms to improve competitiveness, maintain macro-fiscal stability and strengthen institutions, with broad support in the country, are key to robust economic growth, job creation and poverty reduction, a new World Bank report said. The Sri Lanka Development Update launched Thursday said that the economy and its […]
Sri Lanka technical interns to be trained in Japan
June 29, 2017 (LBO) – Sri Lanka is to sign a memorandum of understanding with International Manpower Development Organization of Japan (IM Japan) to send technical interns to Japan for further training. The cabinet nod has been received to sign this agreement presented by Foreign Employment Minister Thalatha Athukorala, said Co-cabinet Spokesman Minister Gayantha Karunathilake, […]
Sri Lanka tourism office grades restaurants in Colombo
June 29, 2017 (LBO) – Sri Lanka Tourism Development Authority (SLDA) has launched a project to encourage upgrading of food safety, hygiene and services of places supplying meals for foreign and local tourists. The project named “Certification Scheme for Tourist Friendly Eating Places” is carried out with the participation of the Health Ministry and Colombo […]
Asbestos industry warns of economic, social and environmental impact from ban
June 29, 2017 (LBO) – Sri Lanka’s Minister of Technology and Research said that he was awaiting reports regarding the safe use of Chrysotile, a type of asbestos from the Industrial Technology Institute (ITI), after he had been moved to research claims being made by industry players in the roofing sheet industry. “Policymakers are working […]
Anilana Hotels to sell 51-pct stake to Somap International
June 28, 2017 (LBO) – Sri Lanka’s Anilana Hotels said an international firm Somap International (Private) Limited plans to invest in up to 51 percent of the company by way of an issue of new shares, with a total investment of 667 million rupees. Accordingly, 513 million new shares will be issued at a price […]
Laugfs enters residential apartment development
June 27, 2017 (LBO) – Sri Lanka’s Laugfs Property Developers, a subsidiary of Laugfs Gas PLC, has formed a fully owned subsidiary to undertake residential apartment complex projects. The new entity, Laugfs on Reid (Private) Limited, incorporated under the Companies Act last week, is located at their head office premises. Laugfs Property Developers (Private) Limited […]
GMOA says “NO”‘s statement on SAITM
June 27, 2017 (LBO) – Sri Lanka’s Government Medical Officers Association (GMOA) said Monday that they were not accepting President Maithripala Sirisena’s statement on SAITM and will continue their strike action. After discussions with the GMOA the president’s office issued a statement that the South Asian Institute of Technology and Medicine (SAITM) was instructed to […]