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Sri Lankan FDI flow into Singapore totaled USD150 Mn in 2014
Sri Lanka’s newest Free Trade partner in the world, itself a major economic hub, hinted its keen ambitions to leverage the Sri Lankan economic partnership as a springboard towards the rising South Asian market. “Many Singapore businesses see Sri Lanka as a gateway to South Asia” announced President of the Singapore Chinese Chamber of Commerce […]
Sri Lanka shows 4.2-pct unemployment rate for 2017
May 09, 2018 (LBO) – Sri Lanka’s statistics office said that the estimated unemployment rate for 2017 has been 4.2 percent. Unemployed persons are defined as persons who were not working and if they were looking for work, have taken actions to find a job and ready to accept a job given an opportunity during […]
Why Sri Lanka’s unsaturated real estate market works to its advantage
(PRESS RELEASE) Sri Lanka’s now-vibrant real estate market has developed greatly in recent years. Whilst the current growth trajectory has given way for many opportunities to continuously arise, the sector’s growthhas also seen alongside it the rise in property prices. Analysts project that the luxury homes segment could potentially be oversupplying the Sri Lankan market […]
Teejay Lanka’s PAT Rs.508Mn; Up 3-pct
May 09, 2018 (LBO) – Teejay Lanka PLC has reported a profit after tax for the March quarter of 508.4 million rupees, an increase of 3 percent principally due to a 93 percent increase in income tax which resulted in a deferred tax asset of 97.6 million rupees asa one-off gain in the fourth quarter […]
Sri Lanka tourist arrivals up 12.6-pct in April 2018
May 08, 2018 (LBO) – Sri Lanka tourist arrivals increased 12.6 percent in April this year against last year with the largest source market for tourists becoming India, followed by United Kingdom and China. The total number of international tourist arrivals to Sri Lanka during April 2018 was 180,429. In comparison to April last year, […]
Sri Lanka Fin Min addresses ADB annual sessions in Manila
Statement made by Hon. MangalaSamaraweera, Minister of Finance and Media of Sri Lanka at the Business Session of the Asian Development Bank’s 51st Annual Session in Manila 2018 Hon. Carlos G. Dominguwz, Chairman of the ADB Board of Governors, Hon. TakehikoNakao, Presidentof the ADB, Distinguished Governors, Ladies and Gentlemen, I thank you for giving me […]
Sri Lanka should continue digitization of services to capture millennial tourists :JLL
May 08, 2018 (LBO) – Real estate consultancy Jones Lang La Salle (JLL) says the strong surge in tourist arrivals and earnings, which could be further enhanced by steps to ensure a transparent regulatory framework and improvements in soft infrastructure.Noting that two of Sri Lanka’s largest tourist markets, India and China, will account for 25 […]
President to continue in politics beyond 2020
May 08, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says that he will not retire in 2020, instead of it he will continuously fulfill his respective duties towards the country through a new process. The President said that he will use the experiences he gained through the past three years in this regard and […]
Sri Lanka Ports Authority posts 15.3-pct growth in 1Q 2018
May 07, 2018 (LBO) – Sri Lanka Ports Authority has recorded a total growth of 15.3 percent in terms of profits for the first quarter of 2018 with Colombo Port alone posting a 16.2 percent growth. In 2017, Sri Lanka Ports Authority (SLPA) posted 45.6 billion rupees as revenue and a net profit after tax […]
Tourism industry welcomes directive to demolish Illegal structures in coastal areas
The tourism industry has welcomed the directive issued by President Maithripala Sirisena to demolish unauthorized structures in Mirissa and other areas. Minister of Tourism Development and Christian Religious Affairs, John Amaratunga said the President’s unwavering stance on the matter has sent a clear signal to those flouting the law to fall in line. “I salute […]
MRP increase only applicable to milk powders manufacture after May 5
Following a decision of the Cost of Living Committee dated May 1, 2018 to allow increasing of the Maximum Retail Prices (MRP) of milk powder by Rs 20.00 (for 400 grams) and Rs 50.00 (for one Kg), it has now been decided to allow for such an increase in the local market effective midnight of […]
Finance Minister holds discussion with ADB to expedite projects in Sri Lanka
May 04, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera who is attending the 51st Annual meeting of the ADB in Manila had discussions with In-Chang Song, an Executive Director of ADB at their headquarters today. The ADB program in Sri Lanka has provided loans, grants and technical assistance to grow the country’s economy […]