Category: Featured
Technology and know-how essential for development: Hausmann
Jan 24, 2016 (LBO) – The guest lecture in Colombo recently by Prof. Ricardo Hausmann highlighted the importance of technology and know-how in fostering economic development, Sri Lanka’s Board of Investment said releasing a statement. Hausmann of Harvard University’s Kennedy School of Government visited Sri Lanka to follow-up on a programme to build capacity among […]
IMF commends Sri Lanka on economic progress made so far
Jan 23, 2017 (LBO) – The International Monetary Fund (IMF) has commended the new strategy of Sri Lankan government to create financial discipline and lead the country in a correct path to economic development. Managing Director of the International Monetary Fund Christine Lagarde said she highly values the Sri Lankan Government’s dedication to take the […]
Sri Lanka president advises officials to brace for impending drought
Jan 19, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena has held a discussion to look into the preparations at ministerial level to provide essential relief to the public during the impending drought. A special committee comprising secretaries of the ministries of power and energy, mahaweli and water supply has been appointed to make quick […]
New leasing scheme for vehicles comes into effect
Jan 18, 2017 (LBO) – Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for vehicle leasing including three wheelers. “The new circular has slapped additional controls over credit facilities afforded to three wheelers. Under the new leasing regulations the leasing facility offered will be 25 […]
Sri Lanka signs USD125Mn credit to modernize agriculture
Jan 18, 2017 (LBO) – Sri Lanka has signed a 125 million dollar credit with the World Bank to support and promote commercial and export-oriented agriculture, with focus on higher value agriculture products, such as fruits and vegetables. Under the project, investments to improve productivity and diversify production patterns through modern agriculture technology demonstrations in […]
Sri Lanka, Thailand FTA feasibility to conclude by August
Jan 18, 2017 (LBO) – Sri Lanka is looking at purchasing sugar from Thailand, while the feasibility study for the Free Trade Agreement with Thailand is set to conclude by August 2017, the Ministry of Industry and Commerce said. Minister of Industry and Commerce Rishad Bathiudeen met with Thai counterpart Apiradi Tantraporn, Thai consumer goods […]
Power Minister dissolves board of Lanka Coal Company
Jan 18, 2017 (LBO) – Sri Lanka’s Power Minister Ranjith Siyambalapitiya has dissolved the director board of Lanka Coal Company with immediate effect, the ministry said. The removal has been carried out following a recommendation made by the Power Ministry to appoint a new board after considering necessary changes to the composition, powers, responsibilities and […]
Prime Minister meets Chinese President at World Economic Summit
Jan 18, 2017 (LBO) – Prime Minister Ranil Wickremesinghe today met Chinese President Xi Jinping on the sidelines of the World Economic Summit to be held in Davos City from 17th to 21st January. The Prime Minister attended the World Economic Summit on invitation last year too. Leaders of nearly 40 countries are scheduled to attend the 2017 […]
APTA countries agree to widening tariff concessions by mid 2017
Jan 17, 2017 (LBO) – Sri Lanka along with other members of Asia Pacific Trade Agreement (APTA) last week agreed to sign the protocol to conclude the 4th round of concessions which are to be implemented by 1st July 2017. The 4th round of tariff concessions has widened the coverage of preferences of total tariff […]
Coca-Cola eyes Sri Lanka for production facility: Fin Min
Jan 17, 2017 (LBO) – International beverage company Coca-Cola has expressed their interest in setting up a production hub in Sri Lanka, the Finance Ministry said in a statement. President of Coca-Cola Asia Pacific John Murphy and Executive Vice President Irial Finan met Finance Minister Ravi Karunanayake and discussed the opportunity of producing some of the Coca-Cola […]
‘s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) – Sri Lanka’s John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, in the area of energy storage materials, the company said in a statement. The patent application filed at an Indian patent office in December 2016 is related to a […]
Hayleys unveils Sri Lanka’s largest capacity solar power plant in Welikande
Jan 16, 2016 (LBO) – Hayleys Group PLC, together with Windforce Pvt Ltd, have commissioned their 10 megawatt solar power plant. Located in Welikande in the Pollonnaruwa District, the solar plant has been installed with a solar tracking system that will follow the sun’s rays to ensure an incrementally higher yield of approximately 20 percent […]