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Sri Lanka economy grew 3.1-pct in 2017: Statistics Dept.
Mar 20, 2018 (LBO) – Sri Lanka’s statistics office says economic growth rate for the year 2017 has been estimated as 3.1 percent. Agriculture, Industry, Services and Taxes less subsidies on products have contributed their share to the GDP at current price by 7.7 percent, 27.2 percent, 55.8 percent and 9.3 percent respectively for the […]
Brandix and VTA signs MoU for skills development in apparel industry
Mar 20, 2018 (LBO) – Brandix Group and the Vocational Training Authority of Sri Lanka (VTA) recently signed two Memoranda of Understanding (MoU) denoting a collaboration to break new ground in skills development for the apparel sector. The first of these agreements facilitates the creation of an NVQ Level 5 equivalent qualification for Garment Technicians […]
Data is the lifeblood of decision-making
Mar 20, 2018 (LBO) – Data is the lifeblood of decision-making, without which policy makers are unable to make informed, effective and evidence-based decisions that lead to achieving the Sustainable Development Goals (SGDs). “For a country such as Sri Lanka, with established digital infrastructure, and 20.4 million people, gathering data should be more cohesive, and […]
Business mission from New Zealand to arrive in April
Mar 20, 2018 (LBO) – A group of 20 delegates representing 13 innovative New Zealand companies will arrive in Colombo on 2nd April for a 3-day visit to continue forging business and trade links with Sri Lanka. The delegation, led by New Zealand Trade Commissioner for Sri Lanka, Ralph Hays, builds on the momentum of […]
SriLankan Airlines relocates FlySmiLes Service Centre
FlySmiLes, the frequent flyer programme of SriLankan Airlines, has relocated its Service Centre, in order to provide an enhanced service to its members in Sri Lanka and around the world. The new FlySmiLes Service Centre is located at Iceland Business Centre No.30, Sri Uththarananda Mawatha, Colombo 03(Colpetty). It is open for business from Monday to […]
Dialog invests Rs262.5mn for new Data Centre JV in Sri Lanka
Mar 20, 2018 (LBO) – Dialog Broadband Networks, a fully owned subsidiary of Dialog Axiata has entered into a joint venture with St. Anthony’s Property Developers to establish, operate and manage a Data Centre in Sri Lanka. As per the shareholders agreement signed between both parties on 16 March 2018, Dialog Broadband Networks (Private) Limited […]
Sri Lanka must enhance fiscal income to offset narrowing external drains: Fin Min
Mar 19, 2018 (LBO) – Sri Lanka’s Finance minister says the island must optimize utilizing local resources with a well-managed and efficient tax system as a pro-growth catalyst. My contention is that the new Inland Revenue Act will bring a paradigm shift to taxation in this country that is in line with our policy of […]
Fitch affirms HNB Assurance and HNB General Insurance ratings
Fitch Ratings Lanka has affirmed Sri Lanka-based HNB Assurance PLC’s (HNBA) National Insurer Financial Strength (IFS) Rating and National Long-Term Rating of ‘A(lka)’. Fitch has also affirmed its 100% owned subsidiary HNB General Insurance Limited’s (HNBGI) National IFS Rating and National Long-Term Rating at ‘A(lka)’. The Outlook on the ratings is Stable. KEY RATING DRIVERS […]
Marapana, Amunugama & Faiszer to represent Sri Lanka at UNHRC
Mar 19, 2018 (LBO) – Sri Lanka’s delegation to the 37th session of the UNHRC will include Foreign Minister Tilak Marapana, Special Assignments Minister Sarath Amunugama and Local Government Minister Faiszer Musthapha.The Foreign Ministry said Minister Marapana will lead the delegation, that includes officials from the Foreign Ministry, the AG Department, the Secretariat for Coordinating […]
Sri Lanka official reserves rebound to USD7.9bn in February
Mar 16, 2018 (LBO) – Sri Lanka’s gross official reserves have improved to 7,914.33 million US dollars by the end of February from 7,672.75 million dollars in January, official Central Bank data showed. Reserves improved to 7,952.58 million dollars by the end of last year but reduced in January. Foreign currency reserves were 6,894.42 million […]
Sri Lanka lifts ban on Facebook
Mar 15, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed the Telecommunications Regulatory Commission to lift the ban on popular social media site Facebook, immediately. “On my instructions, my secretary has discussed with officials of Facebook, who have agreed that its platform will not be used for spreading hate speech and inciting violence,” the […]
Singapore remains world’s most expensive city in 2018
Mar 15, 2018 (LBO) – The results of this year’s Worldwide Cost of Living survey reveal that Singapore is the most expensive city in the world for the fifth consecutive year.The survey sees Asian hubs like Hong Kong and Sydney compete with European cities such as Paris, Zurich and Oslo at the top of the […]