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Sri Lanka to cut food import bill by manufacturing locally
Oct 16, 2015 (LBO) – A National Programme on Food Production is being planned by the government of Sri Lanka with the contribution of all the ministries and institutions with an estimated cost of 15,595 million rupees to minimize the expenditure on imports by producing the utmost amount of food in Sri Lanka. Cabinet Spokesman […]
” in global Batik map
Sri Lanka’s apex export facilitator EDB stepped up its efforts to stamp ‘Brand Sri Lanka’ in the global Batik map–and linking with top institutional stakeholders, EDB is directly accessing the SMEs of the country in this new initiative, as announced on 8 October. “24 leading Lankan SME Batik manufactures are displaying their samples today to […]
Ceylon Chamber introduces 10 principles to guide its future
Oct 15, 2015 (LBO) – Sri Lanka’s Chamber of Commerce has introduced 10 principles to guide its approach in influencing the trajectory of the private sector and the country’s economy. These principles, the first of its kind for a business chamber in Sri Lanka, will form the basis of the Chamber’s advocacy on pro-business policy […]
SriLankan new CEO Captain Suren Ratwatte assumes duties
Captain Suren Ratwatte assumes duties as the Chief Executive Officer of the national carrier, SriLankan Airlines, today (October 15, 2015).Capt. Ratwatte is an Airline Pilot with over 30 years of experience in the field whose first appointment was with SriLankan’s predecessor, Air Lanka in 1984. Thereafter, he joined Emirates in 1989, where he held several […]
Sri Lanka changes the scope of work of OCH again
Oct 15, 2015 (LBO) – Sri Lanka’s government has changed the scope of work for phase III of the Outer Circular Highway (OCH), from Kerawalapitiya to Kadawatha, which is about 9.32 kilometers, the Cabinet Spokesman told reporters at a media briefing held in Colombo. The Cabinet of Ministers approved the award of the above contract […]
Sri Lanka stocks close down 0.1-pct at three-month low
Oct 15, 2015 (LBO) – Sri Lankan stocks closed down on Thursday for a third consecutive day with economic and budget concerns keeping investors away, brokers said. The Colombo benchmark All Share Price Index closed down 9.87 points at 7,030.45 down 0.14 percent. S&P SL20 closed 1.96 points lower at 3,783.13 lower 0.0.05 percent. “Lack of […]
PTL Watch: Sri Lanka bond yields drop, some profit taking
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Sri Lanka to seize 8 foreign accounts in Dubai: Cabinet Spokesman
Oct 15, 2015 (LBO) –Sri Lanka has found eight bank accounts in a Dubai bank belonging to powerful politically affiliated people and plans are underway to seize all the accounts, Cabinet Spokesman Minister Rajitha Senaratne told reporters on Thursday.“We have uncovered eight accounts hidden in Dubai,” Minister Rajitha Senaratne told at a press briefing held […]
Prime Minister seeks Singapore funds for development
Oct 15, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe is to leave for Singapore today on a two day official tour, the government said. He is accompanied by International Trade Minister Malik Samarawickrema. The purpose of this visit will be to obtain support and funding in Singapore for the development program in Sri Lanka. Wickremesinghe […]
Sri Lanka’s new fuel pricing formula with Finance Ministry: Min. Champika
Oct 15, 2015 (LBO) – Sri Lanka’s Minister of Megapolis and Western Province Development and former Minister of Power and Energy says that a cabinet approved pricing formula for fuel has been handed over to the Finance Ministry. Speaking to LBO Minister Champika Ranawaka said that “I have already done this.” We got cabinet approval […]
Treasury grants advance of Rs4.5bn to pay Golden key depositors
Oct 15, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to release an advance of 3.94 billion rupees from the treasury to the Central Bank for the repayment of the second stage of Golden key depositors.The second stage covers deposits from 2 to 10 million rupees.The cabinet earlier approved a repayment schedule prepared […]
‘s Media
Oct 15, 2015 (LBO) – Former President Mahinda Rajapaksa who arrived at the ‘Presidential Commission to investigate large scale fraud’ has forwarded an initial objection over appointing High Court judges to the commission. Accordingly, the hearings of the case have been suspended till tomorrow. Releasing a statement, the former President’s media unit says summoning him […]