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BOI takes to twitter to quell firestorm related to $ 3.85bn refinery project
March 21, 2019 (LBO) – A media firestorm has erupted over a US$3.85bn refinery project that was trumpeted by Sri Lankan government politicians as the largest FDI in the history of Sri Lanka. The Indian ‘Hindu’ newspaper reported on the deal yesterday: Following Reuters news story which reported a denial by the Oman Oil Company […]
Opinion: As Racial and Religious Intolerance Raises Its Ugly Head
By Sanjeewa Fernando As the United Nations gear up to celebrate the International Day for Elimination of Racial Discrimination, or Anti-racism day, as it is commonly and conveniently referred to, on 21st of March, that is today, the entire civilized world finds itself reeling from the gruesome mass murder that took place at two mosques […]
‘s NBFIs pressured by weak economic growth and vehicle sales
Mar 21, 2019 (LBO) – Fitch Ratings expects Sri Lankan non-banking financial institutions (NBFI) to continue to face pressure on asset quality and profitability in the medium term. The ratings agency says a slowdown in Sri Lanka’s economic activities and lacklustre growth in the sector’s core vehicle-financing segment continue to weigh on NBFI’s financial profiles. […]
Sri Lanka GDP grows 3.2-pct in 2018
Mar 21, 2019 (LBO) – The Department of Census and Statistics (DCS) releasing the estimated Gross Domestic Product (GDP) data said the islands economic growth rate for the year of 20 18 has been estimated as 3.2 percent. The GDP for Sri Lanka for the year of 20 18 (January to December) at constant (2010) price […]
Diplomats wax eloquent at DailyFT Fireside Chat
March 20, 2019 (LBO) – The business community in Colombo on Tuesday evening was geared up for 2019’s fireside chat organised by the DailyFT and the International Chamber of Commerce (ICC). 2019’s event in a packed Hilton Ballroom came after 2018’s successful event which featured Sri Lanka’s biggest businessmen. Last year’s event made headlines and […]
Ranil roasts Dhammika at DailyFT Fireside Chat
March 20, 2019 (LBO) – Building on the controversy and success of the Fireside Chat 2018 event organised by the Daily FT and the International Chamber of Commerce (ICC), Fireside Chat 2019 was launched with much fanfare and anticipation. The 2018 event generated much controversy with backlash against Sri Lanka’s most prominent businessmen who some […]
PUCSL proposes standards and regulatory system for water fittings
Mar 19, 2019 (LBO) – Public Utilities Commission of Sri Lanka (PUCSL) with corporation of other institutions has drafted the standards and regulatory measures for water fittings in Sri Lanka. The standards are expected to create an enabling environment, to facilitate the participation of other regulatory agencies and relevant stakeholders to ensure that only quality […]
Kabul calls for first direct air corridor, investment pact to revive Sri Lanka trade
Mar 19, 2019 (LBO) – Afghanistan has called to open a direct air corridor with Sri Lanka by 25th March in a effort to push an Investment Protection and Promotion (IPP) pact with Colombo to revive lagging bilateral economic ties. “The Government of Afghanistan launched the Air Corridor two years ago to take domestic goods to […]
Opinion: Evolving trends in banking that enhances customer experience
Mar 19, 2019 (LBO) – Envisioning the future of banking convenience Seylan Bank’s Deputy General Manager- Retail Banking, Tilan Wijeyesekera discusses the evolving trends in banking that enhances customer experience Tilan currently leads Retail Credit, Digital Banking, Personal loans, Housing loans, Card centre, Marketing, Sales, Pawning, Service quality and Call Centre and Bancassurance departments at Seylan […]
World Bank approves USD70Mn to improve local services in rural Sri Lanka
Mar 19, 2019 (LBO) – The World Bank approved a US 70 million dollar credit to improve the quality of life of around one million people living in Northern, North Central, Eastern and Uva Provinces in Sri Lanka. The new local development project will put local communities at the center of planning and delivery of […]
Sri Lanka rupee gains: Stocks marginally down
Mar 19, 2019 (LBO) – The Sri Lanka rupee ended firmer at 178.25/40 to the US dollar Monday compared to Friday’s close of 178.40/55 while shares were little changed, brokers said. ‘Inflows from a sale of US 2.4 billion dollar sovereign bond are expected to boost the rupee,’ brokers said. The rupee has climbed 2.4 percent […]
Are we doing enough to increase political participation of women and youth in Sri Lanka?
Mar 19, 2019 (LBO) – The political participation of women and youth is an important subject that came to the fore during the previous election. According to data from National Human Development Report for Sri Lanka (NHDR) although 71.5 percent of youth in Sri Lanka exercise their right to vote, only a small fraction is directly […]