Tag: business
Building future ready enterprises in Sri Lanka
Sept 30, 2013 (LBO) – Some of Sri Lanka’s best brains from corporate, academic and research communities and panelists from the region will share their insights on building ‘future ready enterprises’. Titled ‘LBR LBO Summit on Enterprise 2.0, Building Future Ready Enterprises’, the thought-provoking, one and a half-day event will take place on Friday 4th […]
Sri Lanka inflation at 6.2 percent in September
Sept 30, 2013 (LBO) – Sri Lanka’s consumer prices rose 6.2 percent in September 2013 from a year earlier, slowing from 6.3 percent in August, data from the state statistics office showed. The International Monetary Fund has said monetary policy should not be relaxed further this year, until the effects of earlier easing is seen. […]
Sri Lanka cautioned against high yield foreign debt by IMF
Sept 26, 2013 (LBO) – Sri Lanka has to be careful of borrowing from abroad at high rates, amid low growth and flat state revenues, an International Monetary Fund official said.Todd Schneider who headed an IMF mission in the wake of a successful 2.6 billion US dollar bailout, said Sri Lanka’s public debt dynamics were […]
Sri Lanka exporters moving beyond labour arbitrage
Sept 25, 2013 (LBO) – Sri Lanka’s high end apparel and information technology firms are moving beyond labour arbitrage to leverage knowledge and supply chain efficiencies, officials said.“Labour arbitrage is not necessary, the way we see it,” Udena Wickramasuriya, group director at Brandix a top Sri Lanka based apparel group that also has operations in […]
Sri Lanka should keep policy on hold, make structural changes: IMF
Monetary Stance Sept 25, 2013 (LBO) – Sri Lanka should keep monetary policy on hold but make structural change to boost growth, an International Monetary Fund official said. Todd Schneider, head of a monitoring mission to Sri Lanka said external conditions have worsened with impending Federal Reserve action, and budget revenues were flat though inflation […]
Sri Lanka has to fix primary schools as well as universities
Sept 24, 2013 (LBO) – Sri Lanka has to fix its primary school system where up to half the students are failing their junior high school exam, as well as universities, researchers and productive sector officials said. “Sri Lanka has to invest more in primary schooling,” Sujatha Gamage, an educational specialist from LirneAsia, a regional […]
‘s first online investment application from UK oil services firm
Sept 19, 2013 (LBO) – Sri Lanka’s foreign investment agency said a UK based oil services firm had been the first to use its online investment application portal on September 18, within a day of its launch.Sri Lanka’s Board of Investment launched the web portal for investment applications on September 17, promising to make the […]
Four Sri Lankans on global economics blog
Sep 19, 2013 (LBO) – Future Development: Economics to End Poverty, a blog to create a discussion on global development issues has been launched, led by World Bank economist Shanta Devaranjan in which four Sri Lankans are included.Basic tools of mobility that helped improve living standards and productivity in ‘developed countries’ such as cars and […]
‘s BOI launches online investment portal
Sept 19, 2013 (LBO) – Sri Lanka has launched Board of Investment launched an online portal for investors to submit applications making it even easier, investment promotions minister Lakshman Abeywardene said. “This makes it very easy for investors to submit applications,” he told reporters. “They can also pay the relevant fees.” An investor can create […]
Sri Lanka gets US$540mn in FDI in 2013 first half
Sept 17, 2013 (LBO) – Sri Lanka has received 540 million US dollars in foreign direct investments up to June 2013 up 20 percent from a year earlier, investment promotions minister Lakshman Abeywardene said.The top investor in the period was Colombo International Container Terminal, from China and Hong Kong with 116.7 million US dollars, followed […]
Sri Lanka holds policy rates, says lending rates easing
Sept 17, 2013 (LBO) – Sri Lanka’s central bank kept its policy rate band at 7.0 and 9.0 percent saying lower pressure from the state budget deficit is expected to bring down lending rates further.“Continued fiscal consolidation efforts by the government and greater financial discipline of public corporations are expected to reduce the public sector’s […]
Sri Lanka casino resort tax breaks firmed
Sept 13, 2013 (LBO) – Tax breaks for two casino resorts including one by Australia’s Crown group have been firmed with the cabinet of ministers giving the nod for tax breaks previously announced for large investments.Sri Lanka is pushing a casino strategy to draw high spending tourists, which can fill city five star hotel rooms […]