Tag: business

Jan 26, 2015 (LBO) – Sri Lanka’s exports declined 10.7 percent, to 921million US dollars in November 2014 from a year earlier due to decline in earnings from textiles and garments followed by rubber products ,gems, diamonds and jewellery categorized under industrial exports, the Central bank said. As the growth of imports weighed on the […]

Jan 23, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has decided no new official vehicles should be purchased, a minister said yesterday. Cabinet spokesman Rajitha Senaratne said it has been decided not to purchase vehicles for the use of President , Prime Minister ,all the Ministers and Deputies and only the vehicles available in […]

Jan 23, 2015 (LBO) – Truefitt and Hill, world’s oldest barber shop as certified by Guinness Book of World Records in April 2000, wants to enter the Sri Lanka market and set up shops across the country, the company said in a media release. The 200 year old barber shop is operating outlets in Beijing, […]

Jan 23, 2015 (LBO) – Sri Lanka government to get assistance from the International Monetary Fund (IMF), World Bank and Reserve Bank of India to track down wealth which hidden abroad belongs to the key persons of the former government, cabinet spokesman said. He said according to the calculation by minister about 700 billion rupees […]

Jan 22, 2014 (LBO)-The new Government of Sri Lanka reduced the prices of fuel by removing tariff with effect from midnight yesterday. The decision was taken at the cabinet meeting held yesterday, the ministry of energy said in a media release. Price of a liter of petrol will be reduced by 33 rupees to 117 […]

Jan 22, 2015 (LBO) – Sri Lanka’s cabinet has given approval to establish a committee against corruption, cabinet spokesperson minister Rajitha Senarathne said today. The committee will be look into the items that have been brought for distribution during the presidential election, illegal acquisition of lands, corruption and irregularities of EFF and Colombo Stock and […]

Jan 21, 2015 (LBO) – Sri Lanka’s newly appointed minister of finance, Ravi Karunanayake was quoted saying that the new government will develop the economy though proper management of the tax revenue and by attracting foreign direct investment to the Island. Karunanayake said that the prime commitment of the new government is to fulfill the […]

Jan 21,2015 (LBO) – Sri Lanka’s Central Bank re-issue of 10,000 million rupees maturing Treasury bills was oversubscribed with bids amounting to 27,545 million rupees being received, the bank said. 6-month yield was also up at 5.90 percent from 5.89 and 3,658 million rupees were accepted. The debt office which is part of the island’s […]

Jan 19, 2015 (LBO) – Sri Lanka would create an even playing field in order to attract investors and new projects, Deputy Minister of Investment Promotions Eran Wickramaratne told the LBO. The reason is because Sri Lanka pays a lot of money for these projects and we did not even know how much we are […]

Jan 19, 2015 (LBO) – Sri Lanka would attract more investors by expanding economic freedom and investment environment, Deputy Minister of Investments Promotions, Eran Wickramaratne said. You all know that whether it is a country or business, investment is more important, he said. The first challenge we face is to increase the volume of investments […]

Jan 19, 2015 (LBO) – Sri Lanka is looking at developing good relations with India as well as China, the biggest emerging economies in Asia, the Minister of Investment promotion said. “The reality is that we have to work in the Asian region and India and China are two of our key players. So we […]

Jan 16, 2015 (LBO) – Sri Lanka’s port city project has to be fully reviewed due to its location at a high security zone , Minister of Investment Promotion said today. “We cannot have land given on freehold basis to another country in a high security zone and that is right in between the two […]