Category: Special Reports
Brexit may not happen anytime soon: report
June 28, 2016 (LBO) – Britain may not exit the E.U. anytime soon, as it needs to invoke Article 50 of the Lisbon Treaty of 2007 which grants member states the right to leave. There will be at least two years of negotiations about the terms of Britain’s future relationship with Europe, and the invocation […]
Britain to exit EU, markets extremely volatile
June 24, 2016 (LBO) – The British referendum on whether to stay or leave the EU will be a leave vote, according to both ITV and BBC, who forecast an exit based on results rolling in. BBC forecast a four-point leave victory of 52 percent to 48 percent. A leave vote will be disastrous for […]
South Asia developing 7.1 pct; Sri Lanka falling behind on debt, growth
June 10, 2016 (LBO) – Growth in South Asia is expected to reach 7.1 percent in 2016 and strengthen to 7.3 percent by 2018, underpinned by robust domestic demand, the World Bank said in its Global Economic Prospects report. In the near term, consumption spending continues to benefit from low oil prices and modest inflation […]
Sri Lanka to issue certificates of absence for missing persons
Jun 08, 2016 (LBO) – The Cabinet of Ministers approved draft legislation enabling the issuance of Certificates of Absence enabling family of missing to address practical issues relating to their disappearance. The draft legislation which involves an amendment to the Registration of Deaths (Temporary Provisions) Act, No. 19 of 2010 will now be gazetted and the […]
Blast at Sri Lankan armoury kills one soldier, thousands evacuated
June 06, 2016 (LBO) – One soldier was killed and thousands of people were evacuated after an explosion on Sunday at the Salawa Army Camp, where one of Sri Lanka’s largest ammunition stores is located. Explosions at the army camp continued for more than five hours and the blasts were heard 12 km away, local […]
Japanese PM to delay consumption tax hike; possible no-confidence
May 30, 2016 (LBO) – Japanese Prime Minister Shinzo Abe has met top executives of his Liberal Democratic Party to discuss the proposal to delay the scheduled April 2017 consumption tax hike. Japanese media reported that Vice-President Masahiko Komura, General Council Chairman Toshihiro Nikai, and Policy Research Council Chairman Tomomi Inada were among them. Shinzo […]
Sri Lankan climber successfully summits Mt Everest
May 21, 2016 (LBO) – Sri Lanka’s Jayanthi Kuru-Utumpala has summited the world’s highest peak, Mt. Everest, early this morning, becoming the first Sri Lankan to complete the incredible feat, the support team said. She is now descending to a lower base camp, with winds favorable. She has not yet had an opportunity to make […]
La Nina may give India heavy monsoon, Sri Lanka expects usual monsoon
May 25, 2016 (LBO) – India may have the highest monsoon rainfall in 22 years with La Nina on the cards, according to a private weather forecaster, boosting agricultural production and easing a shortage of drinking water. Although the prediction by Skymet Weather Services Pvt., a New Delhi-based private forecaster, is higher than the forecast […]
India to turn Iranian port into transit hub bypassing Pakistan
May 24, 2016 (LBO) – India, Iran and Afghanistan have signed a tripartite agreement to turn the Iranian Chabahar port into a transit hub bypassing Pakistan, foreign media reported. The agreement will significantly increase the use of Chabahar port and connect India to Central Asia through Afghanistan and also provide Afghanistan access to India through […]
Flood-hit Sri Lanka receives help from several countries
May 24, 2016 (LBO) – Sri Lanka has received a helping hand from several friendly countries to support the disaster affected people in the country. The Foreign Ministry has established a task force to coordinate emergency relief assistance from Diplomatic Missions in Colombo and Sri Lankan Missions overseas, with the relevant Ministries and Agencies in […]
Sri Lanka flood water could take few days to recede: UN OCHA
May 23, 2016 (LBO) – Sri Lanka’s worst floods in 25 years may take few days to recede, with the increasing possibility of health issues in urban areas, UN’s Office for the Coordination of Humanitarian Affairs (OCHA) said in its situation report released on Sunday. “It is expected to take several days for floodwaters to […]
South-West monsoon gradually establishing over Sri Lanka: Met Dept
May 24, 2016 (LBO) – The South-west monsoon condition is gradually establishing over the country, and showers or thundershowers will occur at times in the Western, North-Western, Southern, Central and Sabaragamuwa provinces, the Met Dept said on Tuesday. “Fairly heavy to heavy falls (around 75-100mm) are also likely at some places,” a statement released at […]