Category: Featured
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. […]
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Nov 06, 2019 (LBO) – Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, BBB(lka)/Stable) proposed Sri Lanka rupee-denominated senior unsecured debentures of up to LKR1.5 billion an expected National Long-Term Rating of ‘BBB(lka)(EXP)’. The proposed debentures are to mature in three and five years and would carry fixed- and floating-rate coupons. SFL plans to […]
‘s education in the 4IR : IPS
The profound impacts that an emerging fourth industrial revolution (4IR) will have on the future employment landscape underscore the crucial role of education and skills in preparing a workforce that can meet the needs of today’s and tomorrow’s labour markets. Indeed, education is at the heart of preparing present and future generations to succeed in […]
Sri Lanka economy to grow 3.5-pct in 2020: Central Bank
Nov 05, 2019 (LBO) – The Sri Lankan economy is projected to grow by around 3.5 percent in real terms in 2020, a new Central Bank report says. “The growth is expected to be broad-based and positively contributed by all major economic activities,” it says. “Further, investor confidence, which was adversely affected by domestic uncertainties, […]
Sri Lanka FDI down in first half of 2019: Dips in service and infrastructure sectors
Nov 05, 2019 (LBO) – The Central Bank says that Foreign Direct Investment (FDI) including loans to projects approved by the Board of Investment (BOI), decreased by 61.3 percent during the first half of 2019 compared with the same period last year. The island received US 553.2 million dollars in the first six months of […]
ComBank receives best bank award from Global Finance
The Commercial Bank of Ceylon was recently presented the award for ‘Sri Lanka’s Best Bank in 2019’ by the USA-based Global Finance magazine at the 26th Annual Best Bank Awards Ceremony held at the National Press Club in Washington, DC on the sidelines of the annual meetings of the IMF and World Bank. The Bank’s […]
Opinion: Are we finally done taxing Aunty Flo?
By Nishtha Chadha One of the most talked about election promises this week has been Sajith Premadasa’s promise to distribute free sanitary hygiene products. Labelling himself as a #padman, Premadasa tweeted that “until sustainable cost-effective alternatives are found” he promises to provide sanitary hygiene products free of charge. Indeed, access to menstrual hygiene products is […]
Opinion: Are apartment developers moving to suburbs?
LankaPropertyWeb’s (LPW) With Colombo city turning into a business hub more than a residential area, recent studies of LankaPropertyWeb (LPW) show that apartment developers are now exploring the suburbs to cater to the growing interest for vertical living amongst the locals. The numerous developments taking place in the main city resulting in diminishing space amongst […]
‘s cabinet approves MCC grant of USD 480 Million
Oct 29, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers today approved the implementation of 480 million US dollars MCC grant that consists of grant funds for traffic management in Colombo, road construction Island wide, and land administration improvements covering the whole country. These compact programmes to be funded by this project have been developed […]