Category: Featured
Supreme Court upholds right to sing National Anthem in Tamil
Nov 18, 2016 (LBO) – A fundamental rights case challenging the legality of playing the National Anthem in the Tamil language at the Independence Day celebration on February 4, 2016 has been dismissed by the Supreme Court. Lawyer Mahanama De Silva, for petitioners V. S. Sudath Perera, M. P. Asiri Soysa and G. A. Don […]
Sri Lanka power regulator worried over delayed power plant construction
Nov 18, 2016 (LBO) – Sri Lanka’s Public Utilities Commission has issued a directive to CEB expressing its grave concern over the delay in constructing the power plants according to the approved Least Cost Long Term Generation Expansion Plan (LCLTGEP). “The Public Utilities Commission of Sri Lanka approved the LCLTGEP on 15th of September 2016 and it […]
LBR LBO DEBRIEF to focus on unfolding economic and geo-political landscape
Nov 18, 2016 (LBO) – The fourth edition of the “Economic and Business Climate Outlook 2017” will offer an overview of emerging Asia and the Sri Lankan economy, and the views of business leaders on navigating their businesses in 2017 amidst growing economic and geo-political volatility. Lanka Business Online, LBO, will be hosting the annual […]
Sri Lanka budget signals continuity, but implementation key: CCC
Nov 17, 2016 (LBO) – Sri Lanka’s budget 2017 has signaled continuity in the economic policy priorities of the government, but successful implementation should be the benchmark against which it is measured, the island’s leading business chamber said. “Budget 2017 seeks to continue the government’s focus on modernizing the economy, inclusive growth, strengthening the middle class, […]
Verité identifies weakness in Sri Lanka’s public procurement
Nov 17, 2016 (LBO) – Verité Research, a private think tank, has identified three key weaknesses in public procurement in Sri Lanka. The study by the regional think tank has focused on the problems of public procurement, best practices of e-procurement followed in other countries, and the benefits for local businesses and the government. As […]
SLT to power Lanka Government Network, LGN 2.0
Nov 17, 2016 (LBO) – Sri Lanka Telecom has been chosen as the total communication service provider and communication infrastructure provider to the Lanka Government Network, in a collaborative move by the national government and the Information and Communication Technology Agency of Sri Lanka (ICTA), a statement said. The LGN is a strategic project produced […]
Sri Lanka offers long-term contracts to import refined petro products
Nov 17, 2016 (LBO) –Sri Lanka’s cabinet has granted its approval to offer three longer term contracts to Indian and Singapore companies to purchase refined petroleum products to meet the country’s demands. These contracts cover a period of 8 months starting December this year as the existing contracts for purchase of refined petroleum products have […]
Sri Lanka planters warn on land redistribution budget proposals
Nov 16, 2016 (LBO) – The Planters’ Association of Ceylon (PA) said it has serious reservations as to the feasibility and potential impact of recent budget proposals on Sri Lanka’s plantation industry, a statement said. Sri Lanka’s budget 2017 proposed for a reduction in the maximum acreage that can be held by any stand-alone plantation […]
Sri Lanka revenue reform a step toward stronger finances: Fitch
Nov 16, 2016 (LBO) – Sri Lanka’s budget 2017 proposed tax hikes will strengthen the revenue base although some of the revenue assumptions look optimistic and pose risks to projections, the Fitch rating agency said. “Sri Lanka’s budget for 2017 is broadly in line with the targets set out under its IMF programme, and contains […]
‘s prospects for LNG investment high, especially from Japan: advisory firm
Nov 16, 2016 (LBO) – Sri Lanka’s prospects for attracting investments in LNG, power plants, and natural gas infrastructure are good, especially if the island looks towards Japan, a global advisory firm said. Sri Lanka enjoys “Comprehensive Partnership” status with Japan, supported by close ties between Prime Minister Ranil Wickremesinghe and Japanese Premier Shinzo Abe, […]
Lanka Sugar Company turns loss into Rs1bn profit
Nov 15, 2016 (LBO) – Lanka Sugar Company, which includes Pelwatte and Sewanagala sugar factories, has recorded a profit of 1,018 million rupees for the first nine months of this year. The company which employs around 5,600 workers has made a significant turnaround this year after it suffered a loss of 1,030 million rupees last […]
Sri Lankan market crowded, Asian telcos under pressure in 2017: Fitch
Nov 15, 2016 (LBO) – Sri Lanka continues to be a crowded market with five operators serving a population of 21 million and set for consolidation, Fitch Ratings said in a statement. “We expect industry consolidation in India, Indonesia and Sri Lanka, as weaker telcos exit the market or seek mergers and acquisition to strengthen […]