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Lonely Planet affirms Sri Lanka as the best country to visit in 2019
July 03, 2019 (LBO) – Sri Lanka secured the top spot in the Lonely Planet’s best travel destinations list of countries to visit in 2019 despite the recent Easter Sunday attacks. The country has been upset, but continues to be an incredible place to visit and it still tops our Best in Travel for 2019, […]
Lagarde relinquishes IMF duties temporarily; nominated to head European Central Bank
July 03, 2019 (LBO) – Managing Director of the International Monetary Fund (IMF) Christine Lagarde has decided to relinquish her IMF responsibilities temporarily as she has been nominated as the next President of the European Central Bank. The Executive Board of the IMF issued the following statement today following her nomination to the presidency of […]
IGP and Former Defence Secy arrested while in hospital
Jul 03, 2019 (LBO) – Sri Lanka’s top police officer, Pujitha Jayasundara and the former Defence Secretary to the Ministry of Defence Hemasiri Fernando were both arrested in connection with the Easter Sunday terror blasts, yesterday while undergoing treatment in hospital. The Colombo Chief Magistrate, Lanka Jayaratne placed the two officials in remand custody after they […]
CSE and SEC reach out to investor community in Jaffna
Jul 03, 2019 (LBO) – The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently organized a regional investor forum in Jaffna with the aim of creating awareness on stock market investments. The forum drew an encouraging response and attracted over 180 participants, including a number of present and […]
Sri Lanka – Germany fast track dialogue to assist investors and tourism
Jul 03, 2019 (LBO) – The Sri Lanka – Germany fast track dialogue was held recently at the Ministry of Development Strategies and International Trade with the objective of addressing central issues faced by German enterprises operating in Sri Lanka under the BOI as well as facilitate new investments. Malik Samarawickrama, minister of Development Strategies […]
The Lean Six Sigma Company launches its operations in Sri Lanka
With the motive of supporting organizations and individuals in their ambition to continuously improve processes, The Lean Six Sigma Company, one of the world’s leading providers of Lean Six Sigma training recently commenced its operations in Sri Lanka in partnership with DA’VISION Business Solution Pvt Ltd, making it the first country to establish their presence […]
World Bank classifies Sri Lanka as upper-middle income country under new revision
Jul 02, 2019 (LBO) – Sri Lanka has moved up to the upper-middle income category from lower-middle income category under the World Bank’s new country classification by income level. As of July 1, 2019, under the new revision, Sri Lanka’s Gross National Income (GNI) per capita is 4,060 US dollars, up from 3,840 dollars reported […]
Emirates unveils special business class fares from Colombo
(PRESS RELEASE) – Business travellers from Sri Lanka as well as aficionados of the travel experience can now sample the premium Emirates Business Class product with substantil savings, thanks to the Airline’s launch of special Business Class fares to destinations in the USA, UK, Europe and Dubai. These special fares will be available for bookings […]
SriLankan Airlines incurs to Rs.13Bn loss in first 4 months of 2019
Jul 02, 2019 (LBO) – State-run SriLankan Airlines total loss has increased to 12,961 million rupees in the first four months of 2019, a new report said. The total debt of Sri Lankan exceeded US 750 million dollars, according to mid –year Fiscal Position Report -2019 of the Finance Ministry. “While the Government is currently […]
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July 01, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s 500 million US dollars, 6.35% bonds due 2024 and 1.5 billion 7.55% bonds due 2030 a final rating of ‘B’. The final rating is in line with the expected rating assigned on 24 June 2019. Key Rating Drivers The bonds ratings are in line […]
Fitch affirms 5 Sri Lankan finance companies; revises outlook on MIF to negative
July 01, 2019 (LBO) – Fitch Ratings has revised the Outlook on Mercantile Investments and Finance PLC (MIF) to Negative from Stable and has affirmed the ratings. At the same time, Fitch has affirmed the ratings of the following Sri Lankan finance companies:– Central Finance Company PLC (CF)– LB Finance PLC (LB)– Senkadagala Finance PLC […]
Sri Lanka public servant pay hike effective from today
Jul 01, 2019 (LBO) – The salary increment and other allowances for public servants proposed by Finance Minister Mangala Samaraweera in his budget 2019 is effective from today (July 01). Accordingly, all public servants will receive an additional monthly allowance of 2500.00 rupees, the Finance Ministry said issuing a statement. Also, allowance for security forces […]