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Sri Lanka to get USD25.7mn for smallholder tea, rubber revival
Nov 06, 2015 (LBO) – Sri Lanka plans to get 25.7 million dollars of financial assistant from the International Fund for Agricultural Development (IFAD) for the implementation of the smallholder tea and rubber revitalization programme, Cabinet Spokesman Rajith Senaratne said.The programme intends to assist in improving the tea yields in 5,500 hectares in Matara, Galle, […]
ICTA plans ambitious digital infrastructure, Google Loon by March
Nov 06, 2015 (LBO) – Sri Lanka has ambitious plans for digital infrastructure to connect all people on the island, ICTA, the apex ICT institution of the government, said at the LBR LBO Infrastructure Summit in Colombo. “In all the years of the ICTA, we are going to do five times more (next year),” Arunesh Peter, […]
PTL Watch: Minimal activity, buying in 15 and 20-year bonds
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Sri Lankan born economist predicts global recession next year
Nov 06, 2015 (LBO) – Sri Lankan-born economist Howard Nicholas on Thursday warned that the world will have to face a recession by next year. Speaking at the 36th National Conference of Chartered Accountants in Colombo Nicholas, who is a senior lecturer of Rotterdam Erasmus University, argued the world is now near the bottom of […]
BOND IS BACK
Bond is back in SPECTRE and VisitBritain and the GREAT Britain campaign is once again utilizing 007’s iconic international profile to show the world what makes Britain GREAT. The British High Commission (BHC) in Colombo hosted an event at Westminster House, with the attendance of Prime Minister Hon. Ranil Wickremasinghe, Ministers and members of Parliament, […]
Sri Lanka need not maintain super gain tax: PM
Nov 06, 2015 (LBO) – Sri Lanka’s much talked about super gain tax imposed by the new administration in its interim budget 2015 need not be maintained, Prime Minister Ranil Wickremesinghe told Parliament on Thursday.“With the intermediate budget guidelines, we imposed a Super Gain Tax. This was based on the fact that the demand for […]
Infrastructure: Sri Lanka’s mass transit success lies with land use management, says Nayana Mawilmada
Nov 06, 2015 (LBO) – Sri Lanka’s plans for mass transit specially in Colombo must ensure that it stays linked to real-estate developments to make it viable, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. “Introduction of mass transit is a critical step and a game changer for […]
Full text of Economic Policy Statement made by PM in Parliament
Economic Policy Statement made by Prime Minister, Ranil Wickremesinghe in Parliament on 5th November 2015 Hon. Speaker, On the 08th of January, the people of Sri Lanka elected Maithripala Sirisena as the President in pursuit of much needed change. This was confirmed at the Parliamentary Election held in August. Our final goal is to improve […]
Big names needed to bring tourists, says Managing Director of Aitken Spence
Sustained promotion and consistent branding of Sri Lanka as a holiday destination are essential if the country is to overhaul its tourism industry, Rajan Brito, the Deputy Chairman and Managing Director of the conglomerate Aitken Spence has said. Speaking during a wide-ranging interview he gave to the global publishing, research and consultancy firm Oxford Business […]
PM outlines economic reforms in parliament
Nov 05, 2015 (LBO) – Sri Lanka’s Prime Minister in parliament outlined several measures to be taken by the government. Key points: – Generating of one million job opportunities under third generation of reforms – budget deficit to be reduced to 3.5 percent by 2020 – world economic environment will be tough next year – […]
Sri Lanka to give freehold lands and houses, 500,000 new houses to be constructed
Nov 05, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe today said that the government plans to give freehold lands and houses to the people who have been enjoying it and will construct 500,000 new houses in rural, semi urban and urban areas.Making a special statement at the Parliament today Prime Minister Wickremesinghe said that […]
Sri Lanka urged to bring legislations for policy reforms: Harsha De Silva
Nov 05, 2015 (LBO) – Sri Lanka should urgently bring legislations to give effect to the needed policy reforms to become a highly competitive social market economy, Deputy Minister Harsha De Silva said.“The 3rd generation economic reforms, as referred to and presented by Prime Minister Ranil Wickremesinghe today in Parliament, has gone beyond even what […]