Category: Featured
Ravi upset over Central Bank leaks, media portrayal
Feb 09, 2017 (LBO) – Sri Lanka’s Finance Minister has expressed his concern about the leak of information with regard to closed door meetings at the island’s Central Bank, and media portrayal of it. News from some boards have been leaked and then represented by politicians who have a vested interest in it, his media […]
Fitch affirms Sri Lanka at B+; outlook revised to stable
Feb 09, 2017 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings (IDR) at ‘B+’ and revised the Outlook to Stable from Negative. The Country Ceiling and issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also affirmed at ‘B+’. The Short-Term Foreign- and […]
‘s tourism skills development to start in East
Feb 09, 2017 (LBO) – Under the skills for inclusive growth program Australia will provide around 1.6 billion rupees in aid and technical assistance, to strengthen Sri Lanka’s tourism sector through training. “A profitable and sustainable tourism industry requires more than natural and cultural assets, which Sri Lanka has in abundance, it requires high-level hospitality […]
‘s Bank authorized capital
Feb 09, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to instruct legal draftsman to amend certain sections of People’s Bank Act which seeks to increase the authorized share capital of the Bank and to issue debentures without government guarantee. At the cabinet meeting held yesterday, Public Enterprises Minister Kabir Hashim has submitted the […]
Sri Lanka COPE reveals Rs110bn loss from 15 public institutions
Feb 08, 2017 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises today presented its third interim report to the Parliament. The interim report which covers the activities from 01 May 2016 to 31 August 2016 is based on the inquiries carried out in 15 state-owned institutions. COPE Chairman Sunil Handunnetti presenting the report before […]
‘s external situation manageable, but more FDI needed: Governor
Feb 08, 2017 (LBO) – Sri Lanka’s external debt situation is manageable. However, the current challenge is to increase inflows from exports and FDI, Central Bank Governor Indrajit Coomaraswamy said on Wednesday. “The external debt situation, in our view, is manageable. Sri Lanka has never defaulted on a payment. But the challenge for the country […]
SAITM says ready to forge ahead amid protests
Feb 08, 2017 (LBO) – South Asian Institute of Technology and Medicine (SAITM) says they are ready for the rough road ahead and will push ahead despite opposition from students and staff of state universities. “These protests are driven by politics and fear of competition,” Dr. Neville Fernando, founder and chairman of SAITM told reporters […]
Sri Lanka plans to generate electricity from tidal power
Feb 07, 2017 (LBO) – Sri Lanka plans a new project with Finnish assistance to generate electricity from tidal power, the power ministry said. Following a meeting with Ambassador of Finland to Sri Lanka Rauli Suikkanen, Ranjith Siyambalapitiya the minister for power and renewable energy said the ambassador had expressed his fullest support for the […]
Sri Lanka committee finalizing report on Muslim Marriage and Divorce Act
Feb 07, 2017 (LBO) – A committee appointed by Sri Lanka’s former Minister of Justice and Law Reform Milinda Moragoda to consider and recommend amendments to the Muslim Marriage and Divorce Act No 13 of 1951 is finalizing its report, a statement said. The committee was appointed in July 2009 with the approval of the […]
ADB to introduce new partnership strategy with Sri Lanka
Feb 06, 2017 (LBO) – Asian Development Bank is working on a new country partnership strategy with Sri Lanka’s government to address dynamic challenges with sustainable, inclusive and environmentally friendly solutions, an official said. During an event to mark 50 years of Sri Lanka’s partnership with ADB, director general of South Asia Regional Department of […]
Sri Lanka’s Right to Information Act comes into force
Feb 03, 2017 (LBO) – Sri Lanka’s Right to Information (RTI) Act comes into effect today bringing with it a promise of open government, citizens’ active participation in governance, and accountability to the people of the country. The Ministry of Mass Media and Parliamentary Reform said that it has been laying the groundwork of RTI, […]
Several Sri Lankan sectors can attract smart capital: Stax
Jan 31, 2017 (LBO) – The next three to five years will be a window of opportunity in which Sri Lankan companies in healthcare, hospitality, education, and export industries can attract smart capital, a consulting firm that advises leading private equity (PE) funds worldwide said. “With the right positioning and evidence of high growth, such […]