Category: Featured
Sri Lanka should list SoE and increase transparency
Dec 11, 2019 (LBO) – A top emerging markets investor said the Government should look at listing state enterprises to attract capital. He said that it will expose their balance sheets and open them for scrutiny. “Sri Lanka Insurance, state banks, rail and airport would be a good start.” Dr. Mark Mobius, speaking at a […]
Mark Mobius says Sri Lanka has foreign investors appeal for tourism, fin-tech and real estate
Dec 11, 2019 (LBO) – Emerging markets investor, Dr. Mark Mobius highlighting Sri Lanka’s strengths said he sees immense growth potential in the island as the economy has with regards to foreign investor appeal. Admitting that while Sri Lanka’s agri-based economy has always held global interest -especially with tea as its strongest brand and commodity- […]
Fiscal stimulus will boost demand in short-run but create instability in long-run: ICRA
Dec 11, 2019 (LBO) – The Government of Sri Lanka (GoSL) reduced variety of taxes substantially in an attempt to revive the economy, which could possibly cost over LKR 500 Bn according to government’s own estimates. Whilst acknowledging the potential boost to the aggregate demand and corporate profitability from the fiscal stimulus in the short-run, […]
Sri Lanka aims at 6.5-pct GDP growth from 2020
Dec 09, 2019 (LBO) – Sri Lanka’s economic activity will pick up following a series of tax cuts and the expansion of economic activity will boost Gross Domestic Product growth to reach 6.5 percent from 2020 onwards, a senior official said. “Sri Lanka’s new government headed by President Gotabaya Rajapaksa in the short-term has to […]
Google’s Womenwill to host International Women’s Day event “SheLeads”
Dec 09, 2019 (LBO) – Womenwill is a Google initiative to create economic opportunity for women everywhere so that they can grow and succeed. Helping women make the most of technology to build skills, get inspired, and connect with each other through training, events, and advocacy, Womenwill aims to drive conversations promoting gender equality to […]
HSBC and IUCN announce project for development of greener apparel industry
Dec 06, 2019 (LBO) – HSBC and International Union for Conservation of Nature (IUCN) Sri Lanka Country Office announced the launch of their project to crystalize a cohesive low carbon development transition strategy for the local apparel industry recently. The strategy will be developed in partnership with the Joint Apparel Association Forum of Sri Lanka […]
Sri Lanka tourist arrivals down 9.5-pct in Nov 2019
Dec 05, 2019 (LBO) – Sri Lanka’s tourist arrivals were down 9.5 percent in November 2019 to 176,984 from 195,582 a year earlier, new data show. Sri Lanka Tourism Development Authority (SLTDA) said yesterday arrivals up to November was 1.672 million, down from 2.08 million or 19.6 percent from a year earlier. The island is […]
SL Govt re-affirms commitment Vienna Con on diplomatic relations following Swiss Embassy incident
Nov 29, 2019 (LBO) – The Government of Sri Lanka has taken serious note of the alleged criminal incident concerning a locally recruited staff member of the Embassy of Switzerland in Colombo, recently a statement said. On being informed of the alleged incident yesterday, the Police has taken immediate action to commence an investigation into […]
President appoints six-member committee to aid appointments at state institutions
Nov 29, 2019 (LBO) – The Presidential Secretariat appointed a six-member committee comprised of professionals under the directions of President Gotabaya Rajapaksa to submit recommendations on appointment of competent personnel to the Boards of Public Enterprises, Statutory Bodies and State-owned Commercial Businesses. The high-level committee headed by Sumith Abeysinghe, former Secretary to the Cabinet and […]
Dinesh Gunawardena calls on Foreign Ministry officials to rise to new challenges
Nov 27, 2019 (LBO) – Minister of Foreign Relations Dinesh Gunawardena assumed duties yesterday that the entire country is looking towards the Foreign Ministry to find solutions for external pressures and challenges. “Hence, it is necessary for the officers in the Ministry and the network of missions to work dedicatedly towards overcoming these challenges,” he […]
Opinion: Helping Sri Lankan workers in South Korea save better
Janaka Wijayasiri Sunil has been employed in South Korea for the last three and a half years, working for a Small and Medium Enterprise (SME) manufacturing automobile parts, in the industrial town of Ansan, in the outskirts of Seoul. He earns KRW 2.5 million or LKR 400,000 a month with overtime and night-shift allowances – […]
Sri Lanka increases overflying charges after 38 years, revenue to go up by 57-pct
Nov 14, 2019 (LBO) – Sri Lanka’s government has decided to increase overflying charges after 38 years, taking into account the ICAO (International Civil Aviation Organization) policies for the determination of air navigation charges. In exchange for providing navigation aids to aircraft overflying their territories and landing at their airports, countries impose overflying navigation fees. […]