Category:
SriLankan Airlines wins “Excellence in HR – South Asia” award
National Carrier, SriLankan Airlines won the “”Excellence in Human Resource – South Asia” award at the annual sessions and SHRM international Award Ceremony, held in India recently. SriLankan was competing with many entities from the South Asian region, excluding those of India, competing under the national category. Founded in 1948, the Society for Human Resource […]
World Bank says Sri Lanka urbanisation higher than estimated
Sep 29, 2015 (LBO) – Urbanisation in Sri Lanka is higher than officially estimated with almost half the population living in urban areas, a senior World Bank official said. “Urbanization in island is close to 50 percent like the rest of world,” Ede Jorge Ijjasz-Vasquez, senior director social, urban, rural and reliance global practice […]
US supports domestic process for justice, Kerry pledges to Sirisena
Sep 29, 2015 (LBO) – US Secretary of State John Kerry has reiterated their support for a credible domestic process for justice and reconciliation in Sri Lanka.Kerry met yesterday in New York with Sri Lankan President Maithripala Sirisena and has discussed built on the meetings the Secretary had during his visit to Colombo in May.The […]
India cuts key interest rate to bolster economy
Sept 29, 2015 (LBO) – India’s central bank reduced its policy interest rates by a larger-than-expected amount to support the economy amid China’s slowdown, media reports said. The benchmark repurchase rate was cut to 6.75 percent from 7.25 percent with most analysts expecting only a quarter percentage point cut. “The weakening of global activity since […]
Sri Lanka trade deficit narrows by 32-pct in July
Sept 29, 2015 (LBO) – Sri Lanka’s trade deficit narrowed in July from the same month last year, the central bank said. This was partly due to the base effect as July 2014 recorded the highest monthly import value after November 2012. “The deficit in the trade account in July 2015 contracted substantially by 32.3 […]
Sri Lanka wants holding company structure for public enterprises: Governor
Sept 29, 2015 (LBO) – Sri Lanka’s government is looking at setting up a holding company which will own equity stakes in public enterprises, the central bank governor said. The aim here is to improve good governance and restructure under-performing ones, he said. “The government wants to evolve a holding company which will own equity […]
Sri Lanka to strengthen economy despite global scenario: Ravi K
Sep 29, 2015 (LBO) – Sri Lanka’s finance minister Ravi Karunanayake said that the government would continue to strengthen the economy despite the current global situation.“I am ready to make a special statement on the fiscal situation of the country within the next couple of days,” Karunanayake said. “We will also explain how the emerging […]
ADB to triple lending for education in Sri Lanka
Sep 29, 2015 (LBO) – The Asian Development Bank says they will triple lending to one billion US dollars for education and will also help develop the islands capital markets.“In line with the governments initiative to increase spending on education to six percent of gross domestic product we plan to triple lending for education to […]
Private health care driven by aging population and rising income: Fitch
Sep 28, 2015 (LBO) – Sri Lanka’s private hospitals are poised for strong growth, with the rise ageing population and rising per capita income, a report said.“Nearly nine percent of the islands population are over 65 years of age and over at end 2014 and likely to double by 2030 and the public sector alone […]
US, next possible big source market for Sri Lanka Tourism– Analyst
Sep 29, 2015 (LBO) – Sri Lanka should attract more US tourists, making use of the geographical position of the island near to India, in which the US is the top key arrivals generator, an analyst said.“India can be the number one source market for Sri Lanka, because they are geographically located closer,” Shabori Das, […]
Sri Lanka’s tourism should integrate economy to drive growth: Hotelier
Sep 28, 2015 (LBO) – Sri Lanka’s tourism industry which is booming post-conflict should ideally integrate the economy in to the sector to drive sustainable tourism though economically viable products, an hotelier said. “In all our efforts we should strive to integrate the economy to the industry, so that we have authentic, sustainable tourism products […]
Sri Lanka sells 04, 06 and 13 year bonds; 13 year bond yields up
Sep 28, 2015 (LBO) – The issue of treasury bonds amounting to 13 billion rupees have been oversubscribed with 64 billion rupees of bids received from investors.The Central Bank has accepted 3.0 billion rupees of 04 year bonds maturing on 15 September 2019 at a weighted average yield rate of 9.50 percent. The bond auction […]