Category: Featured
HNB posts group PAT of Rs. 15Bn
Feb 26, 2020 (LBO) – HNB PLC weathered external headwinds in 2019 to post 15 billion rupees in Group Profit After Taxes (PAT) and 14 billion rupees in Bank PAT and remains the best capitalized bank in the sector. HNB Chairman Dinesh Weerakkody stated that “the year that preceded us has been extremely challenging with […]
FM will formally inform decision of govt. to withdraw co-sponsorship of resolution
Feb 26, 2020 (LBO) – Minister of Foreign Relations, Skills Development, Employment and Labour Relations, Dinesh Gunawardena who leads the Sri Lanka delegation to the 43rd Session of the Human Rights Council is scheduled to address the High Level Segment of the Human Rights Council (HRC), Wednesday. He will formally inform the Council Members of the […]
Sri Lanka raids and finds substandard lubricants products worth Rs. 2.5Mn
Feb 19, 2020 (LBO) – Sri Lanka carried -out an Island-wide raid on substandard and unauthorised lubricants products as the Consumer Affairs Authority (CAA) decided to investigate the importation, production, distribution and sale of lubricants and related products in Sri Lanka due to increase number of consumer complaints on low-quality lubricants in the market. Accordingly, […]
Sri Lanka vehicle registrations rebounds in Jan 2020
Feb 18, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,536 units in January up from 2,057 units in Dec but down from 3,147 units 12 months ago, a new report shows. “The recent policy interventions both in terms of fiscal policy (taxation) or capital moratoriums did not target vehicle registrations,” research firm JB […]
“Timelines evolved externally would hinder process of reconciliation”: SL tells UN Security Council
Feb 17, 2020 (LBO) – “Timelines evolved externally in achieving stated objectives would only seek to hinder the process of reconciliation since they would be bereft of ground realities” emphasized Sri Lanka’s Permanent Representative to the United Nations Ambassador Kshenuka Senewiratne. She was speaking at a one day debate at the UN Security Council titled […]
Sunshine Holdings’ reports PAT Rs.1.7Bn, up 32.3-pct YoY
Feb 17, 2020 (LBO) – Boosted by the divestment of its tea plantations, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported notable growth in bottom-line performances during the first nine months of the current financial year (9MFY20). During this period, the Group posted a consolidated revenue of Rs. 15.8 billion, delivering a 32.3% […]
Proposals for a new constitution presented to President
Feb 14, 2020 (LBO) – A set of proposals containing facts that should be taking into account when formulating a new Constitution was presented to President Gotabaya Rajapaksa. The proposals on new Constitution compiled by the Yuthukama organisation under the theme ‘proposals to formulate a new Constitution for a strong state ‘ was presented to […]
Opinion: Girls in STEM, How is Sri Lanka faring?
Ashani Abayasekara Written for International Day of Women and Girls in Science on 11 February 2020 Sri Lanka is well recognised as a leader in gender-equal education in the developing world; World Bank statistics show that primary and secondary school enrollments and completion rates are similar for girls and boys, while girls have higher enrollment […]
Sri Lanka economy on the mend in 2020 : Will look at new IMF deal
Feb 11, 2020 (LBO) – A revival in economic activity can be expected in 2020 with the support of better fiscal and monetary measures with Sri Lanka also looking at a fresh deal with the IMF, a senior official said. Speaking at the Ceylon Chamber of Commerce’s Economic Outlook launch for 2020 the Central Bank […]
Opinion: Measuring poverty within Sri Lanka’s new reality as upper-middle-income country
Wimal Nanayakkara Sri Lanka achieved ‘Upper Middle Income Country’ (UMIC) status in July 2019, as the country’s Gross National Income (GNI) increased from USD 3,840 per capita in 2018 to USD 4,060 per capita in 2019. World Bank’s (WB) new threshold for UMICs is USD 3,996 – USD 12,375 GNI per capita. Sri Lanka scraped […]
PUCSL asks CEB for explanation regarding recent power outages
Feb 07, 2020 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the electricity regulator is seeking an investigation report on the recent power outage from Ceylon Electricity Board (CEB), a statement said. Issuing a statement the PUCSL has asked the CEB to submit the said report on or before 12th February 2020. Sri Lanka […]
Opinion: Post-independence reflections, the gaps in our freedoms
By Erandi de Silva Seventy two years ago, Sri Lanka gained independence from the shackles of British rule. This meant the autonomy to govern our people, the freedom to create and maintain our institutions and the ability to carve our own political narrative. Beyond political liberty, independence also restored our control over land, resources, and […]