Category: Featured
‘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 […]
London Stock Exchange Group opens new tech facility in Sri Lanka
Dec 06, 2016 (LBO) – London Stock Exchange Group (LSEG) yesterday announced the opening of its new state-of-the-art technology facility in Sri Lanka. Headquartered in the TRACE Expert City precinct of Colombo, the new technology hub was opened by the Prime Minister of Sri Lanka, Ranil Wickremesinghe and LSEG Chairman, Donald Brydon. A delegation including […]
Opinion: Jaffna, high literacy, low employment and lowest income. How come?
By Jekhan Aruliah Despite the Jaffna district having the second highest Literacy Rate in Sri Lanka, it does badly on employment and dismally on incomes. What’s up? I have heard it said here in Sri Lanka and abroad that unemployment is high in Jaffna because so many people don’t need to work. It is asserted […]
Sri Lanka tile importers commend support from budget
Dec 05, 2016 (LBO) – Sri Lanka’s Tiles and Sanitary Ware Importers Association (TSIA) have welcomed the support of Budget 2017 for maintaining the reduction on import tariffs on tiles and sanitary ware. “Tiles and sanitary ware today, has become a commodity that has defined itself as a basic need. These entities are no longer […]
Korea Eximbank discusses Kandy traffic network with RDA
Dec 05, 2016 (LBO) – Export-Import Bank of Korea (Korea Eximbank) has begun supporting the connectivity plan of the traffic network in Kandy city through a knowledge sharing program, with a delegation holding its first workshop last week. Korea Eximbank intends to share the traffic network expansion experience of Korea to strengthen accessibility between Northern […]
Sri Lanka tourism growth requires continuous effort: ForwardKeys
Dec 02, 2016 (LBO) – Flight bookings for travel to Sri Lanka during the next five months shows a modest 1.3 percent growth compared with the same time last year, according to tourism analytics firm ForwardKeys. The insights come from their analysis of 16 million flight bookings made by travel agents, research that was presented […]
President orders IGP to identify VIP security vehicles
Dec 01, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has ordered the Inspector General of Police to report back to him about those who use a convoy of back-up vehicles for their security. Speaking at the inaugural road safety week, President Sirisena said this task will officially commence from 1st January. Accordingly, Police will […]
‘s maintains stable outlook on Sri Lankan banking sector
Dec 01, 2016 (LBO) – Moody’s Investors Service has maintained its stable outlook on Sri Lanka’s banking system, as moderate economic growth and reduced external volatility should keep operating conditions for the country’s banks stable. “Continued strong loan growth may put downward pressure on asset quality and liquidity conditions, but nonperforming loan (NPL) ratios will […]