Category: Featured
Sri Lanka may stop hydro power generation by end April
Feb 20, 2017 (LBO) – Sri Lanka will have to stop hydro power generation by the end of April if the prevailing dry weather condition continues, the power minister said. Power Minister Ranjith Siyambalapitiya participating in Kegalle Development Committee meeting today stated that priority has to be given to save water for drinking and not […]
World’s largest car, truck carrier to call at Hambantota port
Feb 20, 2017 (LBO) – MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC), belonging to Hoegh Autoliners AS, Oslo, is scheduled to call at Hambantota port during the first week of March 2017 under its local agency Diamond Shipping Services (Pvt.) Ltd. The vessel is plying under MIAF service (Middle East, […]
Sri Lanka-Singapore FTA to be finalised in 2017: Singapore PM
Feb 20, 2017 (LBO) – The Free Trade Agreement (SLSFTA) between Sri Lanka and Singapore will hopefully be finalised this year, Singapore Prime Minister Lee Hsien Loong said following a dinner with Premier Ranil Wickremesinghe. In a FB post on Saturday, Lee said, “We talked about the FTA that we are negotiating, which we hope to […]
Sri Lanka to review public sector cadre, redeploy excess
Feb 17, 2017 (LBO) – Sri Lanka will conduct a cadre review to determine the total cadre requirement of the public sector and provincial councils. The review is expected to forecast public sector staff needed for the year 2020 based on the optimum cadre identified for 2017. “In case excess employees are identified at any […]
Sri Lanka to forge ahead despite external pressures: Ravi
Feb 17, 2017 (LBO) – Sri Lanka’s finances are improving despite global turmoil, Brexit and higher interest rates in the US, backed by a Fitch Ratings outlook upgrade, the finance minister said. “State revenues in 2016 rose to over 13 percent of gross domestic product from around 10 percent and the budget deficit had come […]
‘s NITF gets reinsurance cover for agriculture
Feb 17, 2017 (LBO) – Sri Lanka’s National Insurance Trust Fund says they have procured a reinsurance program for its agriculture insurance schemes. “This reinsurance programme will provide support to agricultural insurance schemes funded by NITF including the recently launched National Agricultural Loan Protection Scheme,” NITF said in a statement. “The cover has been arranged […]
Google loon may leave Sri Lanka, corruption accusation baseless: Harin
Feb 16, 2017 (LBO) – Sri Lanka’s controversial Google loon pilot project may be withdrawn from the country as a result of a spectrum issue with the International Telecommunication Union, the telecommunications minister said. Harin Fernando told reporters Thursday that Sri Lanka has so far delayed facilitating pilot tests by allocating the required spectrum of […]
With foreign debt servicing of USD4 bil, cabinet approves sovereign bond
Feb 16, 2017 (LBO) – Sri Lanka’s Finance Minister says the island’s total domestic and foreign debt service payments for 2017 is estimated to be around 1,480 billion rupees. In a cabinet memorandum Karunanayake said total foreign debt service payments including foreign currency denominated debt amounts to 609.4 billion rupees (4.04 billion dollars) in 2017. […]
Indonesia donates 5,000MT of rice to Sri Lanka
Feb 15, 2017 (LBO) The Indonesian government will donate 5,000 metric tonnes of rice to Sri Lanka following a request of President Maithripala Sirisena through the local ambassador in Jakarta. The consignments to be shipped in a few days are expected to arrive in Colombo in March, the Sri Lankan Foreign Ministry said in a statement. […]
Rice millers call for release of govt stock to maintain price control
Feb 14, 2017 (LBO) – Sri Lanka’s Small and Medium Scale Rice Mill Owners’ Association says if they are to sell rice to consumers at a controlled price the government needs to release 67,000 metric tons of paddy in store at the Paddy Marketing board. This request was made at a meeting held with Finance Minister Ravi […]
Sri Lanka puts in place competitive pricing for medium scale solar
Feb 13, 2017 (LBO) – Sri Lanka’s Power Ministry has decided to put in place a competitive pricing mechanism for medium scale solar power generation companies commencing later this week, the minister said. “This is a turning point in the pricing system and the consumers will be the beneficiaries,” Ranjith Siyambalapitiya, minister of power and renewable energy said. […]
Sri Lanka calls tenders for petroleum development in Mannar Basin
Feb 12, 2017 (LBO) – The Sri Lankan government is inviting expressions of interest for partners to undertake the appraisal and development of gas discoveries and prospects in a 2,900-sq km offshore block in the Mannar Basin, a statement said. The block (M2) will be offered for licensing this year, including the Barracuda and Dorado […]