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Sri Lanka inflation slows to 7.1-pct in May 2017
June 22, 2017 (LBO) – Sri Lanka’s inflation according to the National Consumer Price Index (NCPI) was down to 7.1 percent in May 2017 from 8.4 percent in April, the Census and Statistics Department said. The NCPI for all items for the month of May 2017 was 121.8, an increase of 0.8 index points or […]
Sri Lanka to postpone SVAT abolition till end 2017
June 22, 2017 (LBO) – Sri Lanka’s cabinet approval has been granted to postpone the abolition of SVAT system until the end of this year. Accordingly, the SVAT abolition will take effect from 01 January 2018 after the necessary legislation is passed through Parliament. This decision has been taken in order to give sufficient time […]
Sri Lanka to abolish import control fee for tea
June 21, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to abolish the import control license fee for imported tea in line with 2017 budget proposals. There has been a significant debate on the issue of importing cheaper leaves for blending and re-export, over fears of damaging Ceylon Tea brand. Some tea exporters […]
Improved Swedish interest in Sri Lanka imports after GSP+
An increased interest to import products from Sri Lanka to Sweden has been noticed since the GSP+ came in to function. This was confirmed on Tuesday 20th June during a well-attended breakfast seminar in Stockholm at the premises of the Swedish National Board of Trade. The seminar was organised by the Sri Lankan Embassy in […]
Central Bank expected to keep key rates unchanged: First Capital
June 21, 2017 (LBO) – The Central Bank of Sri Lanka is expected to keep key interest rates unchanged in its monthly monetary policy announcement on Friday, with slower first quarter growth and a deceleration in inflation contributing to the decision, First Capital Research said in a pre-policy research note. GDP growth for the first […]
Jayathma Wickramanayake of Sri Lanka appointed as UNSG’s Envoy on Youth
(PRESS RELEASE) – United Nations Secretary-General’s office announced today (20th June) that Secretary General António Guterres has appointed Jayathma Wickramanayake of Sri Lanka as his next Envoy on Youth. She will succeed Ahmad Alhendawi of Jordan. Wickramanayake will succeed Ahmad Alhendawi of Jordan to whom the Secretary-General is grateful for his dedicated service in addressing […]
Huawei becomes Official Smartphone Partner of Sri Lanka Cricket Team
(PRESS RELEASE) – Huawei, the leading smartphone brand in Sri Lanka has entered into a partnership with Sri Lanka Cricket (SLC) as the Official Smartphone Partner for the Sri Lanka Cricket Team. The Smartphone Sponsorship of the National Team comprises of both men’s and women’s cricket teams across all forms of the game spanning Test, […]
SriLankan hosts ‘Rumble in Jungle’ mountain biking race 2017
SriLankan Airlines successfully conducted ‘Rumble in the Jungle’ the premier mountain biking event that attracts local and international cycling pros and enthusiasts recently . Conducted for the fourth consecutive year, ‘Rumble in the Jungle’ is a grueling yet thrilling race that enables local and international participants to experience the diverse beauty of the island. On […]
Religious violence in Sri Lanka has chronic nature: Verité
June 21, 2017 (LBO) – Religious violence in Sri Lanka is not a post-war phenomenon and has persisted over a much longer period of time, Verité Research said in a report. The think tank studied a dataset between 1994 and 2014 compiled by the National Christian Evangelical Association of Sri Lanka (NCEASL). The data showed […]
Fitch expects more interest rate pressure for Sri Lankan corporates
June 20, 2017 (LBO) – Fitch Ratings says it expects rising domestic interest rates to hurt Sri Lankan corporates over the next 12 months. Releasing a statement, the rating agency said borrowing costs of corporates have increased more than 200bp in the 12 months to March 2017. The Central Bank increased policy rates by 125bp […]
Auditor General’s opinion creates chaos in Parliament
June 20, 2017 (LBO) – Sri Lanka’s Parliament on Tuesday referred the controversial annual report of the Finance Ministry to the Committee on Public Finance amid chaos in Parliament. The Auditor General, expressing his view on the finance ministry accounts of 2016, said that he is not been able to obtain sufficient and appropriate audit […]
Unilever offers hands-on learning to Moratuwa engineering undergraduates
Unilever Sri Lanka, the nation’s number one employer of choice, recently marked the completion of its inaugural LEaD (Learn, Explore, Develop) training program at their head office. The event saw 18 second year engineering undergraduate students from the University of Moratuwa graduate from the 7 month program which was launched in October 2016. Unilever embarked […]