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Sri Lanka’s reconciliation process key to its economic success: UK Minister
Jan 14, 2016 (LBO) – Sri Lanka commitment to reconciliation will be a driver of its future economic development, a visiting Minister said. “It is reconciliation that will, I believe, be the bedrock on which Sri Lanka’s future economic success will be built,” Hugo Swire, Minister of State at the Foreign and Commonwealth Office in […]
Transport ministry calls local bids to repair railway coaches
Jan 14, 2016 (LBO) – Sri Lanka’s Cabinet has decided to call competitive bids from local industrialists to undertake heavy repairs of railway passenger coaches. As per the Railways Department, around 450 carriages are required to provide transport services and these carriages must undergo heavy repair every two years. Though it is being done in […]
Manning Market to relocate, area for transportation facilities
Jan 14, 2016 (LBO) – The Cabinet has decided to relocate the Manning Market from Colombo port to Peliyagoda area and utilize the premises for public transportation facilities. Colombo, Fort areas have been recognized as a combined development zone under the Colombo City Development Plan (2008-2020) prepared by the Urban Development Authority. Accordingly, it is […]
Uber launches new budget version in Sri Lanka
Jan 14, 2016 (LBO) – Uber, a global ride sharing company in over 340 cities in 60 countries, launched its more economical version, UberGO in Colombo, Thursday. UberGO operates with smaller hatchback vehicles like Suzuki Altos and Tata Nanos and is the second product option after uberX and is more economical, a statement said. “We are […]
Colombo port container handling up 5.7-pct in 2015
Jan 14, 2016 (LBO) – Sri Lanka Ports Authority says container operations in the Colombo port has increased by 5.7 percent last year over the previous year. Accordingly, the total amount of containers handled by the port last year is 5,185,467 compared to the 4,907,915 containers handled in 2014. Total container volume comprises of import, […]
PTL Watch: Buying interest in long-tenor bonds
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CCP by first quarter 2017: CSE Chairman
Jan 14, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange aims to establish the Central Counter Party (CCP) system, a new risk management system, by early 2017, a senior official said. “We have to properly draft the laws. This is a difficult task but we are doing that with the help of some consultants,” Vajira […]
Brent at 12 year low amid concerns over China demand, Iran supply
Jan 14, 2016 (LBO) – Brent oil prices have fallen below 30 US dollars a barrel in New York for the first time in 12 years amid concerns over Chinese fuel demand and Iran fuel supply, foreign media reports said. Brent oil has dropped below 30 US dollars a barrel for the first time since […]
Sri Lanka tourism poised for strong growth: JLL
Jan 14, 2016 (LBO) – Sri Lanka is on the brink of a strong reform agenda and transformational change that could pave the way for inclusive and balanced growth, JLL said in a research report focusing on the tourism sector. For the hospitality industry, this means aiming for 2.2 million tourists, up from 1.8 million […]
Famous Pakistani scientist Prof. Dr Atta-ur-Rahman in Sri Lanka
Famous Pakistani scientist Prof. Dr. Atta-ur-Rehman is currently visiting Sri Lanka to attend 1st International Conference on Bioscience and Biotechnology – 2016 under the theme of “Molecular Life Science for the Development in the 21st Century”, from January 12-13, 2016, organized by Faculty of Applied Sciences, University of Sri Jayawardenepura Sri Lanka. Prof. Dr. Atta-ur-Rehman […]
Finance Ministry delays budget proposals on VAT & NBT
Jan 13, 2016 (LBO) – Sri Lanka’s Finance Ministry has suspended implementing the budget proposals on VAT and NBT until the relevant legislative enactments are passed by Parliament. However, considering the cost of living impact, restriction on the exempt supplies applicable on wholesale and retail trade (deemed VAT) is removed with effect from 01.01.2016, the […]
LBR LBO Infrastructure Summit 2015 – Keynote Speech – Sumila Gulyani PhD
Cities – habitat to half of world population – now generate over 80% of the global GDP. According to a study by “The Economist “(2012), already global business is beginning to plan strategy from a city, rather than a country, perspective. Given the rapid growth and development of many cities, competition between them for business, […]