Category:
Tri Forces for controlling drugs, President ready to execute death penalty
July 12, 2018 (LBO) – Sri Lanka’s cabinet has approved a proposal to draft a Drug Controlling Special Provision Bill empowering the authorities to use Tri Forces for the control of drug menace.The proposal made by President as the Defence Minister and Minister of Law and Peace Ranjith Maddumabandara propose that the Tri Forces be […]
Transparency in tender procedures vital for attracting FDI inflows to Sri Lanka :EU
Jul 11, 2018 (LBO) – The 6th EU- Sri Lanka investor dialogue was held at the Ministry of Development Strategies and International Trade recently. Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities. “We have managed to resolve many of the issues that […]
Cabinet approves Light Rail Transit Project from Colombo Fort to Malabe
July 11, 2018 (LBO) – Cabinet nod has been received to implement an elevated Light Rail Transit (LRT) line from Multi-Modal Transport Centre in Colombo Fort to Malabe.According to the proposal presented by Megapolis Minister Champika Ranawaka, 17 km long, two light railways will be built under the Japanese funded project.Malabe to Fort is a […]
First Capital downgrades exchange rate target to 161 rupees for end 2018
July 11, 2018 (LBO) – First Capital Research said they downgraded their exchange rate target from 159 rupees to 161 rupees per dollar for end 2018 since a stronger dollar is more likely in the coming months. With four fed rate hikes on the cards over next 12 months, First Capital Research said they are […]
Prevailing political uncertainty affects investor confidence: First Capital Research
July 11, 2018 (LBO) – Prevailing policy uncertainty created through the political uncertainty is a major deterrent which may slow down the gradual improvement of the economy and business confidence, a recent research showed. First Capital Research in its mid-year economic outlook said a major factor that is creating uncertainty in the upcoming Presidential Election […]
Pidilite opens new adhesive manufacturing plant in Polgahawela
Jul 11, 2018 (LBO) – A state-of-the-art manufacturing plant of Pidilite Lanka (Private) Limited was formally commissioned at Polgahawela in Sri Lanka’s North Western Province, recently. It is a joint venture of India’s Pidilite Industries Limited. The company is well-known brands in Sri Lanka include FEVICOL, the high-performance range of adhesives and Dr. FIXIT, an advanced […]
Sri Lanka to bring down Chinese suppliers who supply canned fish with worms
Stepping in and mediating on time, Sri Lanka has successfully turned around the issue of spoilt canned fish imports muddle following in-depth and multi-level talks with all the key stakeholders in Colombo on 10 July. “We invite a canned fish supplier delegation from China to Sri Lanka for discussions” said the Minister of Industry and […]
Sri Lanka President, Fin Min agree to go ahead with fuel price formula, Prices hiked
Jul 10, 2018 (LBO) – Sri Lanka’s President and Finance Minister following meeting earlier Tuesday decided to revise its fuel prices according to an earlier cabinet approved pricing formula. Accordingly the price of one litre of Petrol (Octane 92) will be increased by 8 rupees to 145 rupees, Petrol (Octane 95) will be increased by 7 rupees to […]
Central Bank instructs SFSP to pay 10-pct of deposit liabilities from today
July 10, 2018 (LBO) – Monetary Board of the Central Bank has instructed Swarnamahal Financial Services PLC (SFSP) to pay urgently 10 percent of deposit liabilities commencing from today, considering the requests of the depositors.Central Bank said the details of the payment plan will be informed to depositors by Swarnamahal Financial Services PLC shortly. Central Bank […]
Simplifying exporter registration process is critical for export success: Study
July 10, 2018 (LBO) – Sri Lanka’s current exporter registration process is unnecessarily lengthy, inefficient and unduly burdensome especially for Small and Medium Enterprises (SMEs), a recent study has found.According to the main findings of a study conducted by Verité Research shows that many of these unnecessary steps cannot be justified on a rational basis. […]
Thailand PM to visit Sri Lanka, negotiations for a possible FTA
July 10, 2018 (LBO) – Prime Minister of Thailand, General Prayut Chan-o-cha will undertake an official visit to Sri Lanka on 12 and 13 July 2018. This visit takes place against the backdrop of discussions during President Sirisena’s visit to Thailand in November 2015. At the invitation of President Maithripala Sirisena, Prime Minister Chan-o-cha will […]
”’ voted best Booker Prize winner in history
July 10, 2018 (LBO) – Sri Lankan born Michael Ondaatje’s novel “The English Patient” has been voted the best Man Booker Prize winner ever in the 50 year history of the award. Many of Ondaatje’s works have Sri Lankan subject matter or influence giving his writings a deep connection to the island where he spent […]