Category: Featured
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 […]
Sri Lanka’s Central Bank says leaked report on Perpetual not final
Oct 10, 2016 (LBO) – Sri Lanka’s Central Bank on Monday said a complaint has been made to law enforcement authorities to inquire into the unauthorized release of a draft report on Perpetual Treasuries. There have been media coverage regarding a report related to the examination of Perpetual Treasuries conducted by the Central Bank as […]
Sri Lanka to limit water supply, Colombo consumption up
Oct 10, 2016 (LBO) – Sri Lanka’s Water Supply and Drainage Board has decided to limit its pump water supply in the island due to the prevailing drought condition amid increased consumption. K Alahudeen Ansar, chairman of the board, told LBO that water consumption in the Colombo District alone has increased by about 15 percent […]
Sri Lanka has too many telcos, 2017 to be transformative year: Harin
Oct 10, 2016 (LBO) – Sri Lanka’s Minister of Digital Infrastructure and Telecommunication says that the island needs to look at ways of reducing it’s telecommunication providers as it is over crowded. “We have five companies in Sri Lanka which is too much,” Harin Fernando, Minister of Digital Infrastructure and Telecommunication said. “We are trying to look at ways […]