Category: Featured
Sri Lanka’s Port City developer withdraws compensation claims
Aug 02, 2016 (LBO) – Sri Lanka’s port city developer CHEC Port City Colombo, who is handling the project for the Chinese investor, China Communications Construction, has agreed to withdraw all compensation claims for losses incurred due to the suspension of the project. However, the cabinet has approved allocation of 2 hectares to them, without […]
‘s Pemandu CEO
Aug 02, 2016 (LBO) – Malaysia’s model for economic growth in recent years has been driven by a focus on implementation, delivery and execution, Dato Sri Idris Jala, the chief executive officer of Malaysia’s Performance Management and Delivery Unit, PEMANDU, said. He was speaking on Tuesday at the Sri Lanka Economic Summit 2016 organized by […]
Expectations of economic management not being met: Razeen Sally
Aug 02, 2016 (LBO) – After 18 months of Sri Lanka’s new administration, expectations that proper economic management would be in place are going unmet, Prof Razeen Sally said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “My sense is that those expectations have not been […]
‘s exports lagging in Asia: Governor
Aug 02, 2016 (LBO) – Sri Lanka’s exports, as a percent of GDP, fall far below other countries in the region, Central Bank Governor Indrajit Coomaraswamy said on Tuesday. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. Last year, exports as a percentage of GDP was […]
Sri Lanka has demand for higher yielding financial instruments: Nandalal
Aug 01, 2016 (LBO) – Sri Lanka’s Central Bank Deputy Governor says there is an ample demand among insurance companies, provident funds and other institutional investors in the country for higher yielding new financial instruments. Delivering a keynote address, Deputy Governor Nandalal Weerasinghe highlighted that Sri Lanka needs to further deepen the corporate debt market […]
‘s economic reforms
Aug 01, 2016 (LBO) – The World Bank Board has approved a 100 million dollar credit from the International Development Association (IDA) to support the Government of Sri Lanka’s economic reform program. “Sri Lanka has been making steady progress on economic reforms, with the government aiming to create one million new jobs through a reform […]
No more debate on monorail vs. LRT, Japan confirms funding
Jul 29, 2016 (LBO) – Sri Lanka’s government confirmed that the Japanese government will fund the islands proposed Light Rail Transit (LRT), ending a debate on monorail vs. LRT following the conclusion of a high level delegation visit from Japan, Thursday. “The delegation, led by Hirofumi Katase the Vice Minister for Economy, Trade and Industry of […]
Modi says Indian cooperation must happen as per Sri Lankan aspirations
July 28, 2016 (LBO) – Indian Prime Minister Narendra Modi today said that India’s development cooperation with Sri Lanka must happen as per aspirations of Sri Lanka. He said India’s development cooperation with Sri Lanka enjoys a wide spread of projects through out Sri Lanka in different areas of economic activities. “But it must happen […]
No quick fixes for Sri Lanka economy, future sunny: CB Governor
Jul 28, 2016 (LBO) – Sri Lanka’s new Central Bank governor says that he aims to have stable policies with strong fundamentals as opposed to quick fixes. “May countries are trying to create artificial momentum and if you look closely this has not worked,” Indrajit Coomaraswamy, Central Bank Governor said Thursday. “We will try to […]
Moratuwa Uni “D-Mora P1” car wins accolades at Formula Student UK 2016
July 28, 2016 (LBO) The D-Mora P1 race car built by the engineering students from the University of Moratuwa with the backing of Diesel & Motor Engineering PLC (DIMO), one of the leading automobile companies in Sri Lanka, won accolades at the world’s biggest student motorsport competition “Formula Student 2016”. This was the first time […]
China special investment zone to create 1mn jobs in Hambantota
Jul 26, 2016 (LBO) – The Chinese government has requested for 15,000 acres of land in Hambantota for a special economic zone that will create around one million job in this area, the Minister of Development Strategies and International Trade said Tuesday. “Apart from the Chinese Free Trade Agreement, Chinese officials are also in discussions […]
Malik assures ETCA and other FTAs won’t impact local jobs
Jul 26, 2016 (LBO) – Sri Lanka is currently at the formulating stage of Free Trade Agreements with China and Singapore and an “Economic Technology Cooperation Agreement” with India but these agreements will not lead to locals losing jobs, a minister said. “The government will not consider Mode 4 of the general trade agreement on […]