Category: Featured
Vehicle registrations edge higher in November: JB Securities
Dec 26, 2016 (LBO) – Sri Lanka vehicle registrations edged higher in November compared with October, on most categories, likely driven by pre-budget demand, JB Securities said in a research note. Three-wheelers and hybrids showed higher registrations, while one Rolls Royce Wraith was registered in the luxury car segment. But vehicle registrations were down sharply […]
Sri Lanka to improve public transportation in 2017: Fin Min
Dec 23, 2016 (LBO) – Several steps have been taken to improve public transportation with the building of new roads, upgrading railway, deploying priority bus lanes and building light rail, Sri Lanka’s finance ministry said on Friday. Plans are underway to construct two new roads, one between New Kelani Bridge and Athurugiriya and, the second […]
Market Watch: Central Bank tightens stance, sovereign yield rises
Dec 22, 2016 (LBO) – Sri Lanka’s Central Bank effectively tightened its monetary stance on Thursday by conducting a repo auction at 7.47 percent, above the Standing Deposit Facility Rate (SDFR) of 7 percent. The repo auction for around seven billion rupees absorbed excess liquidity in the market, which may signal an upward tick in […]
‘s 10MW solar power plant commissioned, lead financing by DFCC
Dec 22, 2016 (LBO) – Sri Lanka’s first 10MW grid connected solar power project implemented by the private sector was commissioned on Wednesday, with DFCC Bank acting as lead financiers to the project. Promoted by Sagasolar Power (Pvt) Ltd, the utility-scale power project located in Buruthankanda, Hambantota is expected to add 19GWh of clean energy […]
JVP leader Anura Kumara tops most active MP rankings: Manthri.lk
Dec 21, 2016 (LBO) – Sri Lanka’s Marxist JVP leader Anura Kumara Dissanayake has topped the most active Parliamentarians ranking of the year, a list compiled by manthri.lk website showed. The website launched in 2013 by Verité Research tracks and ranks parliament representatives in order of their performance. As per the data analyzed using the […]
‘s festive demand for rice: Ministry
Dec 20, 2016 (LBO) – Sri Lanka’s Ministry of Industry and Commerce will increase supply of freshly milled rice to meet a surge in demand during the festive season, a statement said. Sri Lanka will import 10,000 tonnes of rice, and buy 20,000 tonnes of paddy (both White Rice and Nadu) from the Paddy Marketing […]
‘s visit
Dec 19, 2016 (LBO) – Malaysia and Sri Lanka will consider the possibility of free trade agreement, a joint statement said, after the official visit of President Maithripala Sirisena to Malaysia. President Maithripala Sirisena was on a visit to Malaysia last week at the invitation of Malaysia’s Prime Minister Abdul Razak, during which five memoranda […]
‘s agriculture exports
Dec 19, 2016 (LBO) – Reducing non-tariff barriers (NTBs) in Sri Lanka is a significant step towards realizing untapped export potential within agricultural sectors such as fruit, vegetables, seafood and floriculture, trade experts say. Reducing domestic NTBs is a relatively easy but significant step towards encouraging diversification, where high transaction costs have acute implications on […]
US Millennium Challenge selects Sri Lanka for 5-Year grant
Dec 16, 2016 (LBO) – Sri Lanka has been selected for the US Millennium Challenge Corporation’s (MCC) new five-year grant compact which aims at encouraging economic growth and reduce poverty. At its quarterly meeting on December 13, 2016, the MCC’s Board of Directors selected Sri Lanka, Burkina Faso and Tunisia for these new MCC compacts, […]
PUCSL warns of power shortages in Q1 2017
Dec 15, 2016 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the regulator of the state-run CEB, issued a warning after observing the risks in December that included only two of three generators at the Lakvijaya coal power plant being in working condition and possibility of inadequate rainfall. “Only two units of Lakvijaya Plant are […]
200 Chinese couples eye mass wedding in Sri Lanka
Dec 08, 2016 (LBO) – Sri Lanka’s capital Colombo has been chosen by 200 Chinese couples to hold a mass wedding event. Tourism Development Minister John Amaratunga told Parliament today there is growing interest among the Chinese and Indians to hold mass weddings in Sri Lanka. “Already, reservations have been made for 200 Chinese couples […]
‘s allegation that govt is selling off assets is malicious: Ravi
Dec 07, 2016 (LBO) – Sri Lanka’s government rejects allegations made by former president Mahinda Rajapaksa that the government is selling off national assets, the Finance minister said. “This government is making meaningful endeavours to convert the infrastructure facilities constructed by the previous government at colossal cost with foreign loans,” Ravi Karunanayake, minister of finance said […]