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Sri Lanka to amend firearms ordinance
Jan 18, 2017 (LBO) – Sri Lanka’s President, as the Defence Minister, has proposed to the cabinet that the firearms ordinance should be amended as a timely requirement and for security reasons. A committee comprising of the Attorney General, Legal Draftsman, representatives of Tri-forces and other related agencies have made several observations to be included […]
New leasing scheme for vehicles comes into effect
Jan 18, 2017 (LBO) – Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for vehicle leasing including three wheelers. “The new circular has slapped additional controls over credit facilities afforded to three wheelers. Under the new leasing regulations the leasing facility offered will be 25 […]
Implementing international conventions only criteria for GSP Plus: EU
Jan 18, 2017 (LBO) – European Union today reiterated that the ratification and implementation of 27 international conventions signed by Sri Lanka are the only criteria to rejoin the Generalized Scheme of Preferences Plus (GSP+). The delegation of the European Union to Sri Lanka and Maldives said these conventions relate to international human rights, labour […]
Sri Lanka to regularize small commercial vessels
Jan 18, 2017 (LBO) – Sri Lanka’s cabinet has decided to regularize small commercial vessels that have been in service as well as new vessels including pleasure vessels used for profit or reward. Accordingly, commercial vessels, which are cargo and passenger vessels of less than 24 meters, but five meters or more in length, which […]
Iconic Galaxy breaks ground, ready for occupation by end 2020
(PRESS RELEASE) – Colombo: January 18 2017: Leading infrastructure and property developer, Iconic Developments Ltd, the developer of Iconic 110 Parliament Road, celebrated the beginning of construction of their latest housing property project, Iconic Galaxy. A ground-breaking ceremony at the site was officiated by the Chief Guest, Minister of Megapolis and Western Development, Hon Patali […]
Sri Lankan rupee weaker on foreign bank dollar demand
Jan 18, 2017 (Reuters) – The Sri Lankan rupee traded weaker on Wednesday due to importer dollar demand, after sales by foreign banks had helped the U. S. currency to edge up in the previous two sessions, dealers said. The rupee has been under pressure due to rising imports and net selling of government securities […]
‘t pay for new electricity connection
Jan 18, 2017 (LBO) – Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has introduced guidelines for those who are not able to pay the connection charge for a new electricity connection. “Sri Lanka has named year 2017 as the year for eradicating poverty in the country. These guidelines will ensure that […]
Sri Lanka signs USD125Mn credit to modernize agriculture
Jan 18, 2017 (LBO) – Sri Lanka has signed a 125 million dollar credit with the World Bank to support and promote commercial and export-oriented agriculture, with focus on higher value agriculture products, such as fruits and vegetables. Under the project, investments to improve productivity and diversify production patterns through modern agriculture technology demonstrations in […]
Standard Chartered’s “Welcome to the jungle” Global Research Briefing 2017
(PRESS RELEASE) – 18 January 2017, Colombo, Sri Lanka – Standard Chartered’s Global Research Team has included Sri Lanka as part of its Global Research Briefing circuit, and will conduct a closed-door exclusive session entitled “Welcome to the Jungle” for the bank’s clients on Tuesday 24 January 2017. Standard Chartered’s key economic researchers Dave Murray […]
‘ SmartHome system wins Eco-Innovation Award 2016
(PRESS RELEASE) – Innovative Smart Solution’s (iS2), Ape’ SmartHome system creator W.M. Jeremy Fernando was ajudged the winner of the Merrill J. Fernando Eco-Innovation Award 2016 in the Energy Prototype sector at a recently held ceremony. The award was in recognition of outstanding achievement in eco innovation and commitment to the sustainable development and growth […]
Sri Lanka, Thailand FTA feasibility to conclude by August
Jan 18, 2017 (LBO) – Sri Lanka is looking at purchasing sugar from Thailand, while the feasibility study for the Free Trade Agreement with Thailand is set to conclude by August 2017, the Ministry of Industry and Commerce said. Minister of Industry and Commerce Rishad Bathiudeen met with Thai counterpart Apiradi Tantraporn, Thai consumer goods […]