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‘s economic resurgence: MAS Chairman Mahesh Amalean
July 23, 2019 (LBO) – Clarity is what gives businesses enormous strength, direction and focus in a challenging environment to regain and sustain economic resurgence, says Chairman of MAS Holdings, Mahesh Amalean. Speaking about Sri Lanka’s current economic context at a panel discussion organized by the Ceylon Chamber of Commerce recently, he highlighted that the […]
Sri Lanka inflation decreased in June
July 23, 2019 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has been decreased to 2.1 percent in June from 3.5 percent in May due to the high base prevailed in the corresponding month of the previous year. Meanwhile, in June, both year-on-year food and […]
Hayleys Free Zone decides to process & re-export cargo in question expeditiously
July 22, 2019 (LBO) – Hayleys Free Zone Limited today revealed that it has taken a decision to process the cargo in question and re-export them expeditiously at the cost of the company. Last Friday, the BOI said that they have decided to take stern action against the company with a view to concluding this […]
UN Special Rapporteur on the rights of freedom of association and peaceful assembly on country visit
Jul 19, 2019 (LBO) – The Special Rapporteur on the rights of freedom of association and peaceful assembly, Clément Nyaletsossi Voule commencing his official country visit to Sri Lanka from 18 -26 July 2019, called on Foreign Minister Tilak Marapana at his Ministry, yesterday. Foreign Minister Marapana observed that the freedom of association and peaceful […]
Sri Lanka vehicle registrations down in June 2019
Jul 22, 2019 (LBO) – Sri Lanka’s vehicle registrations across most categories have declined in June relative to May, a new report shows. Data compiled by JB Securities equities research shows a drop in 2-wheeler registrations have driven down the total to 26,201 the lowest on record over the past 36 months. The slowdown and […]
YMBA Independent Movement forms national agenda; calls for one law for all Sri Lankans
July 20, 2019 (LBO) – An Independent National Movement led by the Colombo YMBA, after deliberations, have come up with a four-point national agenda capturing all issues presently tearing the country apart. Addressing the Diplomatic Community yesterday, General Secretary of Colombo YMBA, Mahendra Jayasekara detailed the four points. Address to the Diplomatic Community on ‘One […]
BOI to take action against Hayleys Free Zone Ltd for failed waste re-exports
July 19, 2019 (LBO) – Sri Lanka’s Board of Investment is to take stern action against Hayleys Free Zone Limited for failing to meet commitment laid out in their BOI agreement. The BOI has permitted Hayleys Free Zone Limited in May 2014, to operate an integrated logistics center and entrepot trading as permitted activities within […]
Fantasy Island (Pvt) Ltd announce family entertainment center in Battaramulla
Jul 19, 2019 (LBO) – Fantasy Island will become Colombo’s a family entertainment center located at Waters Edge in Battaramulla with the elements air, sea, and land. The attraction park will feature a 40m Ferris wheel, an indoor snow experience, and a big waterplay-area including waterslides. Alexander Melchers, managing director of the Melchers Group in […]
Sri Lanka needs to improve energy sector governance: Dr Priyantha Wijetunga
Jul 19, 2019 (LBO) – Sri Lanka has a long way to go when it comes to energy sector governance Director, Asian Development Bank, South Asia Energy Division, Dr Priyantha Wijetunga at the ‘techno’ 2019 launch at Marino Beach Colombo held recently. “With all advancement and with all progress in the energy sector in various […]
Sri Lanka Central Bank expects lending rates to reduce further in immediate future
July 19, 2019 (LBO) – Sri Lanka’s Central Bank expects lending rates of banks and NBFIs to reduce further in the immediate future, and borrowers, particularly SMEs, can expect to obtain credit facilities at reduced interest rates from banks and NBFIs. The Central Bank of Sri Lanka requested licensed banks and Non-Bank Financial Institutions (NBFIs) […]
EU reiterats call to maintain moratorium on death penalty in Sri Lanka with view to abolition
Jul 18, 2019 (LBO) – The Delegation of the European Union (EU) issuing a statement said they reiterated their call to Sri Lanka to maintain its moratorium on the death penalty with a view towards complete abolition. The statement was issued in agreement with the Embassies of France, Germany, Italy, Netherlands, Romania and the UK […]
Federal Reserve will only cut rates once in 2019: Fitch Ratings
July 18, 2019 (LBO) – The Federal Reserve is likely to cut interest rates by less than financial markets expect over the rest of 2019 given robust jobs growth in the US, Fitch Ratings says. A 25bp cut now appears probable at either the July or September FOMC meeting but is unlikely to signal the […]