Category: Featured
Asia Tourism Investment Conference in Nov gathers momentum
Oct 17, 2016 (LBO) – The inaugural Asia Hotel and Tourism Investment Conference in November in Colombo will be an influential gathering for the region focusing on challenges and opportunities in the hotel and tourism industries, the organizers said. Hot topics are likely to include land ownership, impediments to raising finance and shortage of talent. […]
New opportunities for Sri Lankan companies in India
Oct 17, 2016 (LBO) – There are new opportunities for Sri Lankan companies in India, with several internal changes going on in the country, an official of a visiting Indian business delegation said. “Within India, there are so many economic changes that could be advantageous for Sri Lanka. What is important is that this is […]
Sri Lanka to draft new counter terrorism law: Cabinet
Oct 14, 2016 (LBO) – Sri Lanka has appointed a committee to draft a new counter terrorism law, a statement on cabinet decisions said. “A committee chaired by the Minister of Law and Order and Southern Development has been appointed to draft a new counter terrorism law instead of the existing Prevention of Terrorism Act, […]
FDI key for trade and export growth: Chinese Minister
Oct 13, 2016 (LBO) – Foreign direct investment (FDI) plays a very important role for a country to develop its trade and export growth, a senior Chinese official said. “FDI is important for trade growth as it brings money, technological advantages and the latest management ideas which drive indigenous and innovative growth,” Wang Shouwen, Vice […]
‘s Rebrab to build euro 150 mln sugar refinery in Sri Lanka
Oct 13, 2016 (LBO) – The ninth wealthiest businessman in Africa, and the founder of Cevital, Issad Rebrab, will invest in Sri Lanka in a sugar refinery and a vegetable oil plant in the Southern Province, the Daily News reported. Fortune 500 ranked Rebrab said Cevital will invest 150 million Euros to build the sugar […]
Sri Lanka to provide adjustment package for FTA trade disruption
Oct 13, 2016 (LBO) – Sri Lanka will introduce a trade adjustment package for local industrialists in order to face possible trade disruptions that may occur during the initial stages of upcoming free trade agreements, a senior minister said. International Trade Minister Malik Samarawickrama said they are negotiating new FTAs with an open mind but […]
‘s Belluna in USD 50mn real-estate project
Oct 12, 2016 (LBO) – Sri Lanka’s Asia Capital and Japanese Belluna company announced the launch of an apartment development project with an investment of 50 million US dollars in Colombo, Wednesday. “This joint project cements the strong bond that both companies have in creating a new paradigm in local and foreign joint venture projects […]
Sri Lanka GSP plus talks to commence in Brussels: PM
Oct 12, 2016 (LBO) – Sri Lankan premier Ranil Wickremesinghe said that he will be traveling to Brussels shortly for the Generalized System of Preferences (GSP) plus negotiations. “I am traveling to Brussels on Saturday to begin talks on restoring GSP plus,” Wickrememsinghe said at the inauguration of the World Export Development Forum in Colombo, […]
Gammanpila’s secret may delay Sri Lanka’s VAT hike again
Oct 12, 2016 (LBO) – Sri Lanka’s joint opposition Parliamentarian Udaya Gammanpila says he is aware of a reason that will require the government to present the much delayed VAT bill to Parliament once again. Gammanpila told reporters yesterday that he will reveal the secret when the Supreme Court considers his petition filed against the proposed VAT […]
Philippines visa waiver to benefit Sri Lankan diplomats & officials
Oct 11, 2016 (LBO) – Sri Lanka and the Philippines have entered into a visa waiver agreement for diplomatic and official passport holders, a statement said. The Agreement facilitates holders of diplomatic and official passports of the two countries to enter and stay in the territory of either country up to thirty days without having […]
Inclusive capitalism requires not just promises but action: IMF Head
Oct 11, 2016 (LBO) – The Head of the International Monetary Fund (IMF) says to pull the world economy out of the “new mediocre” efforts to lift growth and support inclusion are critical and complementary priorities. “Alongside stronger policies, the role of business is key. Enterprise not only benefits from greater inclusion, but is uniquely […]
Japan provides Rs 46bn for ongoing development in Sri Lanka
Oct 11, 2016 (LBO) – The Japan International Cooperation Agency (JICA) will provide a loan of 46.6 billion rupees to Sri Lanka to maintain financial stability and continue the development agenda within the next five years. Yen 10,000 million out of the total loan has been provided as development policy loans, Sri Lanka’s Finance Ministry […]