Category: Featured
Sri Lanka approves two wind power plants in Chunnakam
Dec 01, 2016 (LBO) – Sri Lanka’s cabinet has given the approval to award tenders establish two wind power plants of 10 megawatts each in Chunnakam. “The government has paid its attention on generating a larger portion of electricity requirement by renewable energy sources and it is proposed to establish solar and wind power plants,” […]
New legal framework for solar in Sri Lanka, no more licences
Nov 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission of Sri Lanka (PUCSL), has decided to remove the legal barriers for consumers who wish to enter into electricity generation based on solar power. “It has been proposed to exempt the electricity consumers, who generate electricity in small scale through rooftop solar power […]
Sri Lanka to improve essential utility services in Western Megapolis
Nov 30, 2016 (LBO) – Sri Lanka’s cabinet has granted approval to improve new utilities and infrastructure required for the Western region Megapolis. It is expected that there will be an increased demand for essential utility services such as transport, electricity, water, drainage and waste disposal with the implementation of the main plan of the […]
‘s budget headed in right direction: IMF
Nov 30, 2016 (LBO) – Sri Lanka’s budget for 2017 is headed in the right direction, especially in terms of primary deficit reduction, Eteri Kvintradze, the resident representative of the IMF, said on Tuesday. Kvintradze was speaking at Lanka Business Online’s LBR LBO Debrief: Economic & Business Climate Outlook 2017 which saw a full house […]
Monetary Board holds interest rates unchanged
Nov 29, 2016 (LBO) – Sri Lanka’s Monetary Board held interest rates unchanged after a monthly policy meeting with excessive credit growth beginning to slow and inflation remaining stable. The Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank remain unchanged at 7.00 per cent and 8.50 per […]
Sri Lanka must aim for sustainable, inclusive growth: Governor
Nov 25, 2016 (LBO) – Sri Lanka must aim for sustainable as well as inclusive growth, Central Bank Governor Indrajit Coomaraswamy said on Thursday, speaking to corporate leaders. “If we are to have sustained growth, socially and politically stable growth, as we have an aspirational society now, this whole process has to be inclusive,” he […]
Sri Lanka’s government seeks public views to regulate news
Nov 23, 2016 (LBO) – Sri Lanka’s cabinet nod has been received to obtain public opinion with regard to establishing an independent board to regulate news content published in media. As per the proposal, an independent board is to regulate news published in print, broadcasting and registered websites with the view of promoting professionalism and […]
Sri Lanka poised for a shopping spree, basic goods drive demand
Nov 23, 2016 (LBO) – Sri Lankans still demand basic products such as refrigerators and washing machines due to the country’s low penetration levels although income levels of consumers have improved significantly, an official from the consumer durables industry said. “The consumer durables industry is primarily driven by growth in disposable income, but while income levels have improved, […]
SL-China trade crosses USD4bn, 93-pct imports from China
Nov 23, 2016 (LBO) – Bilateral trade between Sri Lanka and China has crossed the 4 billion US dollar threshold for the first time last year, the industry and commerce minister revealed. The total trade turnover between Sri Lanka and China which was at 659 million US dollars in 2005, has surged to 4 billion […]
Korea Eximbank to establish two vocational training institutes
Nov 23, 2016 (LBO) – The Export-Import Bank of Korea (Korea Eximbank) will support establishing two vocational training institutes in Sri Lanka, namely, Vocational Training Centre in Colombo Central and College of Technology in Gampaha. “As Sri Lanka aspires to become an upper middle-income country, it will need to bridge the gap between the industry […]
Sri Lanka balances investments across India, China and Japan: official
Nov 23, 2016 (LBO) – Sri Lanka is internationalizing key investments in infrastructure across three Asian nations India, China and Japan, a government official said. After failing to weigh competing interests in the past, observers say the current government is on the right track to develop Sri Lanka’s key infrastructure. Japan will develop the light […]
Sri Lanka condominium developers welcome budget 2017
Nov 22, 2016 (LBO) – Sri Lanka’s Condominium Developers Association which represents the condominium developers in the country has hailed the budget presented by the Finance Minister. The association which is an affiliated trade body of the Ceylon Chamber of Commerce said in a statement that the budget contained a number of progressive proposals to […]