Category:
’s order to halt work
Mar 08, 2015 (LBO) – A Chinese firm who build the port city in Sri Lanka said it has received official communication from the Sri Lankan government to postpone ongoing work of the 1.4 billion US dollar project, with immediate effect and will comply accordingly. However the firm also said that it will all necessary […]
Sri Lanka Policy Planning ministry issued a statement on bond auction : Alleged malpractices to be probe
Mar 07, 2015 (LBO) – Sri Lanka’s Ministry of Policy Planning and Economic affairs has issued a statement on the controversial bond auction and said that the government would investigate on alleged malpractices which are taking place at the Public Debt Department during bond auctions and private placements. It will also investigate the alleged malpractices […]
‘s stated capital reduced
Mar 06, 2015 (LBO) – Sri Lanka’s Softlogic Capital on Friday obtained the shareholder approval to reduce its stated capital, a statement said.The decision has been made at an extraordinary general meeting which eventually intends to reduce the accumulated losses of the company. According to a previous statement issued by the company, the amount of […]
Allegation
Mar 06, 2015 (LBO) – The bribery allegations made against Minister of Industry and Commerce Rishad Bathiudeen are politically motivated, the minister said in a media release. I kindly request your esteemed office to expeditiously inquire in to whatever the allegations therein and reveal the outcome to the general public of Sri Lanka. Former Minister […]
Bond Allegation
Mar 06, 2015 (LBO) – Sri Lanka’s Economic Affairs and Policy Planning Ministry said that the government will issue a statement today regarding an alleged insider dealing in Sri Lanka government securities markets by a firm connected to the family of Sri Lanka Central Bank Governor. Asked about the issue, economic affairs deputy minister Harsha […]
’s chamber signs a MOU with Chinese Tianjin
Mar 06, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce signed a memorandum of understanding today with Tianjin province of China to promote trade and investment between both countries. With the visit of two leaders in our countries, we hopes to take bilateral corporation between Sri Lanka and China to the next level through […]
’s State Minister for Foreign Affairs
Mar 06, 2015 (LBO) – Japanese State Minister for Foreign Affairs Minoru Kiuchi to visit Sri Lanka tomorrow Saturday 7th March 2015 to further strengthen the long-standing ties between Japan and Sri Lanka. During his visit, Kiuchi will call on Sri Lanka’s President Sirisena, Prime Minister Ranil Wickremasinghe, and Minister of Policy Planning, Economic Affairs, […]
Sri Lanka postpones setting a foreign direct investment target
March 05, 2015 (LBO) – Sri Lanka’s 100 day administration has taken a back seat in setting a foreign direct investment goal for this year after authorities failed to meet their targets in the recent past. Board of investment which comes under the purview of the investment promotion ministry dejected after it sets a target […]
Sri Lanka’s port city project temporarily suspended
March 04, 2015 (LBO) – Sri Lanka’s controversial Chinese funded Colombo port city project has been temporarily suspended due to pending of an investigative report on the issue, Island’s Investment Promotion Minister said today.Investment promotion minister Kabir Hashim told LBO that the project approval has been violated the country’s law.“For now it seems a breach […]
‘s Guardian Acuity Asset Management launches low risk gilt fund
Mar 04, 2015 (LBO) – Sri Lanka’s guardian Acuity Asset Management, a fund management firm launched a mutual fund invested in risk free government securities which will provide investors to enter and exit easily as a bank deposit, officials said. “It is purely invested in government securities and is therefore meant for investors who have […]
Port City
March 04, 2015 (LBO) – Sri Lanka’s controversial Chinese funded Colombo port city project has been temporarily suspended due to pending of an investigative report on the issue, Island’s Investment Promotion Minister said today.The government has appointed a cabinet sub committee headed by the Prime Minister to review the project owing to the allegations of […]
IMF urges Sri Lanka to consider contingency measures if revenue measures fail
Mar 04, 2015 (LBO) -The International Monetary Fund (IMF) urged Sri Lanka to have contingency measures in achieving the revised budget deficit target of 4.4 percent of gross domestic product if planned revenues fails, International Monetary Fund official said. “In the missions assessment, achieving a deficit of 4.4 percent of GDP will be challenging and […]