Category: Featured
International expert calls for policy recalibration to support property development
Sep 25, 2019 (LBO) – The future of Sri Lanka’s economic development hinges on how domestic policies towards real estate evolve, particularly with respect to supporting the massive demand for vertical living in Colombo and its suburbs, an international expert said. Malayasin property expert Michael Yam said that he sees major emerging opportunities in Sri […]
Global financial assets fall, SL economy slows: Report
Sep 20, 2019 (LBO) – Allianz’s Global Wealth Report, which puts the asset and debt situation of households in more than 50 countries/regions under the microscope says financial assets in 2018 across industrial and emerging countries/regions declined simultaneously for the first time. Savers worldwide have found themselves in a bind, due to the escalating trade […]
Sri Lanka GDP growth 1.6-pct in Q2
Sep 19, 2019 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) growth rate for the second quarter of 2019 has been estimated as 1.6 percent, a new report said. The GDP for the second quarter of 2019 at current price and constant (2010) price have reached up to 3,620,736 million rupees and 2,315,995 million rupees […]
PM’s says economy stabilizing: looking at leapfrog growth trajectory
Sep 18, 2019 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the government’s plans to put the island on a leapfrog trajectory to growth so that it can become the first advanced economy in South Asia. “We are now an upper-middle income country and do we want to stagnate in the middle-income trap or […]
Sri Lanka’s Economic Summit 2019 Opens Today
Sep 17, 2019 (LBO) – The Sri Lanka Economic Summit (SLES) 2019 themed on Re-calibrating Sri Lanka’s Economic Trajectory Towards 2025, to guide Sri Lanka’s journey towards development and prosperity will get underway at the Cinnamon Grand Colombo, today. The two-day event brings together over 450 local and international participants consisting of prominent business leaders, […]
Fin Min orders investigation on liquor licenses issued without approval
Sep 16, 2019 (LBO) – Sri Lanka’s Finance Minister has orderd authorities to investigate and report to him on how liquor licenses were issued for taverns without obtaining the approval of the subject minister. Minister Mangala Samaraweera ordered Excise Commissioner General, H.G. Sumanasinghe to conduct an immediate investigation how liquor licenses have been issued by […]
FM Marapana calls for peaceful engagement in Indian Ocean at IORA conference
Sep 11, 2019 (LBO) – Foreign Minister Thilak Marapara called for cooperation and peaceful engagement in the Indian Ocean maritime domain by IORA members for creating a stable, secure environment, facilitative of economic prosperity. The Minister was addressing the 3rd IORA blue economy Conference held in Dhaka, Bangladesh when he made these comments. He said steps […]
UNP internal crisis shows real democracy exists within party: Sajith
Sep 10, 2019 (LBO) – United National Party Deputy Leader, Minister Sajith Premadasa says that although some internal crisis are seen inside the party to those who are not well-versed in democracy, it is really the party exercising true democracy. “Certain factions are attempting to emphasize that there is a division within the UNP with […]
Fitch downgrades China and US growth on trade dispute
Sep 10, 2019 (LBO) – Disruptions from the sharp escalation in the US-China trade dispute are darkening the global economic outlook, causing us to revise our global economic outlook, Fitch Ratings said. Issuing a statement the rating agency said it has issued downward revisions to their eurozone and US GDP forecasts. “We now expect Chinese […]
Sri Lanka Rupavahini Corp gazetted under MoD
Sep 10, 2019 (LBO) – A gazette notification has been issued to bring the Sri Lanka Rupavahini Corporation (SLRC) under the control of the Ministry of Defence with effect from mid-night, yesterday. The Ministry of Defence comes under the purview of President Maithripala Sirisena. The change is followed by moves to appoint Kalum Palitha Maheerathne as […]
CCC biz conclave draws foreign participants for agri, power , tourism, exports, infrastructure
Sep 09, 2019 (LBO) – The Sri Lanka Investment and Business Conclave 2019 has shown a rise in interest for agriculture, power and energy, infrastructure development, export manufacturing/services, knowledge services and tourism/leisure by delegates registered to date to attend. Foreign companies interested in investing in Sri Lanka are also keen on agriculture, tourism and leisure, export services […]
Sri Lanka tourist arrivals drop in Aug 2019: Europe picks up
Sep 05, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during August 2019 was 143,587, a decline of 28.3 percent when compared with the same period last year. This month, the largest source market for tourists was India, followed by the United Kingdom and China. Almost 99 percent of tourists […]