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Visa opens up branch in Sri Lanka to boost electronic payments
Aug 25, 2016 (LBO) – A global leader in payments technology, Visa today announced the opening of a local office in Colombo and the appointment of Anthony Watson as the Country Manager for Sri Lanka. Visa has been present in Sri Lanka since 1989 and has consolidated its position as a market leader. Speaking at […]
PTL Watch: Sri Lanka bond yields lower, follows auction
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-25th-August-2016.pdf” title=”PTL Daily Market Report 25th August 2016″]
Sri Lankan rupee down on importer dollar demand
Aug 25, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Thursday led by importer dollar demand while the central bank appeared to have stopped giving a reference level for the spot currency, dealers said. The rupee has been steady for more than a week as dealers hesitated to trade the local currency below […]
Sri Lanka clarifies reports on McKenzie consultancy
Aug 25, 2016 (LBO) – Sri Lanka’s National Policy and Economic Affairs Ministry has clarified certain newspaper reports saying they were aimed at sabotaging the economic development strategy of the government. Releasing a statement the ministry said negative reports have appeared in the newspapers on the engagement of internationally reputed consultancy firms by the Government. […]
Sri Lanka must plug into global production networks: Harsha de Silva
Aug 25, 2016 (LBO) – Sri Lanka needs to get into the game of global production networks and needs to treat trade agreements seriously, a government minister said. Deputy Foreign Minister Harsha de Silva outlined Sri Lanka’s future path as a trading nation at a panel discussion organized by the Young Professionals Organization of UNP. […]
Australia probes bribery scandals in Sri Lanka, Congo
Aug 25, 2016 (LBO) – Two Australian companies are caught up in bribery scandals that involve the offices of the presidents of Sri Lanka and the Republic of Congo, the Sydney Morning Herald has reported, an allegation Sri Lanka’s president has denied. A Fairfax Media investigation has uncovered evidence involving the Snowy Mountains Engineering Company […]
Sri Lanka should develop Indian, Chinese markets: Tourism minister
Aug 25, 2016 (LBO) – Sri Lanka will be looking towards China and India for growth, in terms of geography, while looking for niche sector growth from MICE (meetings, incentives, conventions and exhibitions) and cruise tourism, a minister said. “Our target is to further increase the growing Chinese and Indian markets,” Minister of Tourism and […]
Sri Lanka level series despite Faulkner hat-trick
Aug 24, 2016 (Reuters) – Australia’s James Faulkner claimed his maiden hat-trick but could not deny Sri Lanka a series-levelling 82-run victory in the second one-day international on Wednesday. Faulkner dismissed Kusal Perera, Angelo Mathews and Thisara Perera to achieve the feat but ended up on the losing side as Australia, chasing 289 for win, […]
Sri Lankan reforms aims to simplify tax, increase base, compliance: Minister
Aug 24, 2016 (Reuters) – Sri Lanka’s new government is drafting reforms aimed at simplifying taxes, widening the tax base and increasing compliance, Finance Minister Ravi Karunanayake said on Wednesday. “The reforms are aimed at more simplified taxes, bigger tax base, and higher compliance,” he said in an interview with Reuters. The International Monetary Fund […]
Bakeer Marker appointed chairman of National Information Center
Aug 24, 2016 (LBO) – Sri Lanka’s cabinet has approved appointing former Media Minister Imthiaz Bakeer Marker as the chairman of the proposed National Information Center for a period of two years. The centre will provide official information of the government to electronic and print media, coordinate information and act as the government’s official media […]
Sri Lanka to subsidize smallholder tea, rubber and coconut fertilizer
Aug 24, 2016 (LBO) – Sri Lanka’s cabinet has approved a fertilizer subsidy for tea, coconut and rubber smallholders who own cultivated land in extent of two hectares or less, in proportion to the extent of land cultivated annually.The proposal was made by Navin Dissanayake, minister of plantation industries, to increase the current extent of […]
Sri Lanka to regulate lubricants, bitumen through PUCSL
Aug 24, 2016 (LBO) –Sri Lanka’s cabinet has approved appointment of the Public Utilities Commission as the regulator of the lubricant industry and bitumen trade so as to increase competition in the industry in line with the 2016 budget proposals. At present 13 companies including Ceylon Petroleum Corporation and Lanka Indian Oil Company are engaged […]