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Sri Lanka to build its first ever pharmaceutical manufacturing zone
Jan 08, 2018 (LBO) – State Pharmaceutical Manufacturing Corporation and Pharma Zone Private Limited is to sign an agreement to build the first ever exclusive pharmaceutical manufacturing zone of Sri Lanka in Welipenna Area of Kalutara district. The Pharma Zone will facilitate the local pharmaceutical manufacturers with sufficient land for manufacturing plants and basic infrastructure […]
Sri Lankan Banks to Step up Basel III Tier 2 Issuance: Fitch
Jan 08, 2018 (LBO) – Sri Lankan banks are likely to significantly boost issuance of Basel III-compliant Tier 2 instruments in 2018, says Fitch Ratings. Most banks will need to raise capital to meet higher Basel III requirements that take full effect in January 2019, and to support balance-sheet expansion, the rating agency said issuing […]
Capital Alliance launched Sri Lanka’s first online bond trading app
In an effort to take government securities trading to the future and make it more accessible to all, CAL (Capital Alliance) recently launched its latest innovation – CALiper, a state-of-the-art digital app that facilitates online bond trading with the click of a button. Delivering direct access to the closed bond market, the app offers an […]
President, PM declared open Moragahakanda, biggest reservoir of Mahaweli
Jan 08, 2018 (LBO) – Sri Lanka’s President and Prime Minister on Monday declared open Moragahakanda, the last but biggest reservoir of the multipurpose Mahaweli Project. Moragahakanda will irrigate parched dry lands in faraway Vanni in the Northern Province on one side and Rajarata, Wayamba, Central and Eastern Provinces on the other. Today also marks […]
Treasury posts Rs22bn primary surplus in Budget, first time in 63 years
Jan 08, 2018 (LBO) – Government has achieved 21.9 billion rupees surplus in the primary balance of the fiscal accounts during the first ten months of 2017, for the first time in 63 years. Finance Ministry said in the post independent Sri Lankan history a surplus in the budget deficit was first recorded in 1954 […]
Proposed digital economy to uplift GDP by 1 to 3-pct in 2019: McKinsey
Jan 08, 2018 (LBO) – McKinsey & Company, a worldwide management consulting firm has confirmed that the proposed digital economy for Sri Lanka could uplift country’s GDP by 1 to 3 percent in 2019. Issuing a press release, Policy Development Office said McKinsey & Company has confirmed this while presenting their inception report for developing […]
Rajagiriya flyover to open today, speed of vehicles to increase eight-fold
Jan 08, 2017 (LBO) – President Maithripala Sirisena will declare open the Rajagiriya flyover on January 08, providing long term solutions for the heavy traffic congestion in the area. Issuing a statement the Presidents media unit said that during the times of heavy traffic congestion in Rajagiriya, the speed of the vehicles moving on this road […]
‘s Pvt sector has 5Mn employees and 500,000 vacancies: report
Jan 08, 2018 (LBO) – Around five million people were engaged in employment Sri Lanka’s private sector currently while around 500,000 vacancies are there in various job categories, a new report shows.. The highest number of employees was reported in the services sector and among the occupation group the highest number of employees was reported […]
Opinion : A stakeholder strategy for non-traditional organisations
By ThilanSenaratne Who is a stakeholder? A stakeholder is defined as ‘any group or individual who is affected by or can affect the achievement of an organization’s objectives’(Freeman, 1984). In other words, a stakeholder is someone who has a ‘stake’ in an organisation. There are dozens of stakeholder classifications. One of the most widely accepted […]
Tourist arrivals to Sri Lanka up 3.2-pct in 2017 despite set-backs
Jan 05, 2018 (LBO) – Tourist arrivals to Sri Lanka has reached an all-time high of 2,116,407 in 2017 according to the latest data released by the Sri Lanka Tourism Development Authority.The arrival figure for 2017 represents a 3.2 percent growth or 65,595 more arrivals over the preceding year when the figure crossed the 2 […]
Central Bank extends suspension of Perpetual Treasuries for 6 months
Jan 05, 2018 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension of Perpetual Treasuries Limited from carrying on the business and activities of a primary dealer for a period of six months. The Central Bank said this extension will be effective from today, in order to continue the investigations […]
US GSP withdrawal not country-specific, Impact on total exports small: AmCham
Jan 05, 2018 (LBO) – The American Chamber of Commerce says the decision to withdraw the GSP form Sri Lankais not being country-specific and is one stemming from the US Congress simply not re-authorizing the program before adjourning for the year 2017. With effect from the 1st of January 2018, the United States’ Generalized System […]