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Sri Lanka Parliament passes Right to Information Bill
June 25, 2016 (LBO) – Sri Lanka’s Parliament has passed the Right to Information (RTI) bill with amendments on Friday. The main purpose of the Bill is to provide for the Right of Access to Information, to specify grounds on which access may be denied, to establish the Right to Information commission, to appoint Information […]
Huawei’s flagship P9 unveils in Sri Lanka
June 25, 2016 (LBO) – Huawei, one of the fastest growing smartphones in Sri Lanka, yesterday unveiled their flagship smartphone Huawei P9 at a vivid ceremony. Huawei’s partnership with German firm Leica has created a smartphone with a groundbreaking dual-lens camera that can shoot vivid color and crisp black-and-white to produce images with greater depth […]
In Pictures: Swim Week 2017 highlights new designs and Colombo port
Day 1 of Swim Week Colombo kicked off on Friday showcasing designs by Sri Lankan and international designers at the ECT Terminal of the Colombo Port. The designers were: U by Upeksha Hager, Meraki, Juxtapose, heidi klein, Rachel Raj, CHARINI, c.h.a.r.l.e.n.e., and Shivan & Narresh. The venue of Colombo Port was a first, highlighting the […]
Sri Lanka’s Central Bank keeps policy rates steady
June 24, 2016 (LBO) – Sri Lanka’s Central Bank has decided to keep its key interest rates steady for a fourth straight month on Friday, despite rising inflation and high private sector credit growth. The full text of the statement is reproduced below. Monetary Policy Review – June 2016 According to provisional estimates of the […]
BOI briefs investment opportunities for Japanese biz delegation
A Japanese business delegation consisting of 28 leading Companies visited Sri Lanka with the purpose of gaining a firsthand experience of the business and investment climate of Sri Lanka. The delegation consisted of representatives of leading Japanese enterprises and other companies such as Leopalace 21, Mitsubishi Corporation, Mizuho Bank, NTT Data, Mitsui & Co. India […]
Brexit could impact Sri Lanka borrowings, trade, says CCC
June 24, 2016 (LBO) – Sri Lanka could feel the impact of Brexit in its commercial borrowings, as the external environment becomes more volatile, while exporters should make greater effort to diversify targeted markets, the Ceylon Chamber of Commerce said. “The negotiations around the terms of Britain’s new engagement with Europe are likely to take […]
Sri Lankan rupee 1-wk forwards fall on importer dollar demand; Brexit weighs
COLOMBO, June 24 (Reuters) – Sri Lankan rupee one-week forwards fell on Friday as it faced pressure from a strengthening dollar after Britons voted to leave the European Union, cautioning importers, but selling of the U.S. currency by a state bank capped losses, dealers said. Britain voted to leave the 28-member bloc, results from Thursday’s […]
UK votes to leave the European Union with 51.9 pct votes
June 24, 2016 (LBO) – The United Kingdom has voted to leave the European Union obtaining 51.9 percent of total votes, official referendum results showed. 17,410,742 votes have been casted for Brexit while 16,141,241 others have casted their votes to remain in the EU. UK electoral commission said the national voter turnout was at 72.2 […]
‘t seek reappointment until probe over
June 24, 2016 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran has informed the Monetary Board that he will not seek a re-appointment when his term ends this month until a parliamentary probe over bond sales is complete. The Central Bank in a press release said he would not seek re-appointment until “the Parliamentary […]
Sri Lanka’s Finance Ministry calls proposals to amend customs ordinance
June 24, 2016 (LBO) – The Finance Ministry will amend the 150-year old Sri Lanka customs ordinance with a view to absorb modern industrial trends in the current global market. The ministry said this will enable Sri Lanka to update the prevailing import mechanism and, minimize current trade irregularities. The government anticipates obtaining the views […]
Britain to exit EU, markets extremely volatile
June 24, 2016 (LBO) – The British referendum on whether to stay or leave the EU will be a leave vote, according to both ITV and BBC, who forecast an exit based on results rolling in. BBC forecast a four-point leave victory of 52 percent to 48 percent. A leave vote will be disastrous for […]
IATA recognizes Louis Preston training centre in South Asia
IATA recognizes LOUIS PRESTON as “Top Performing Training Centre 2016” in South Asia Press Release: IATA (International Air Transport Association), the trade association for 260 member airlines and sole representative for more that 100,000 IATA Accredited travel agents worldwide has been developing and inventing innovative tailor-made various training programs for the human capital in the […]