Tag: lbo.lk
‘s economy on track : Eran
Sept 14, 2018 (LBO) – Sri Lanka is not looking at diverting from the path of its ongoing fiscal consolidation measures and would take further necessary steps to achieve set growth targets, state minister of Finance Eran Wickramaratne said. He was speaking at the Sri Lanka Economic Summit organised by the Ceylon Chamber of Commerce […]
Sri Lanka needs to move from buyer to producer driven production : Harsha
Sept 14, 2018 (LBO) – Sri Lanka must diversify exports and shift to making more complex, high-value products, Harsha de Silva, state minister of National Policies and Economic Affairs said. “It is not possible for us to carry on growth if we do not make a turnaround; we have to change the way we do business. […]
Balancing China and India partnerships and diversifying exports key for Sri Lanka
Sept 13, 2018 (LBO) – Sri Lanka needs to balance geopolitical partnerships while also managing several other key aspects of its economy like structural weaknesses, limited export performance, constrained public finances and regulatory barriers to investment, Arun Kumar, chairman and chief executive of KPMG India said. So what are the aspects that to be considered?, […]
Interview : Hassan Esufally, first Sri Lankan to complete the ‘Inca Trail Marathon’
Sept 13, 2018 (LBO) – Sri Lankan marathoner, Hassan Esufally on a mission to earn the prestigious 7 Continents Marathon Club Membership, recently ran his first-ever marathon in South America, a gruelling 42km trail across the southern Peruvian Andes. On his challenging journey towards becoming a 7 Continents Marathon Club Member, Hassan has now completed […]
Sri Lanka industrial index up 1.1-pct in July 2018
Sept 13, 2018 (LBO) – Sri Lanka’s industrial production index grew by 1.1 percent to 105.9 from an year ago, data from the Census and Statistics Department shows.The Index of Industrial Production recorded a value of 104.8 in 2017 July. Food production grew 0.1 percent in July to 103.6 index points from a year earlier.Apparel […]
Sri Lanka to be promoted as year round destination with ‘Island Escapes’ campaign
Sept 12, 2018 (LBO) – ‘Island Escapes’, a marketing campaign to promote Sri Lanka as a year-round destination to boost arrivals during off season will be launched later this week, the Tourism Minister said. “The official launch of the campaign will take place on 15 September and will be targeting specific countries,” Minister of Tourism […]
VAT refund scheme to boost tourism in Sri Lankas: Fin Min
Sept 12, 2018 (LBO) – The tourist VAT refund scheme (TVRS) will enable Sri Lankan goods to have greater exposure to the global market, bringing with it several positive economic spill overs, the Finance Minister said. “The TVRS has a particular importance for enhancing the attraction of Colombo as a destination,” Mangala Samaraweera, minister of Finance and […]
‘s tyre and service centre in Sri Lanka
Sept 12, 2018 (LBO) – Tyre & Service Centre (T&S) is the latest offering in Sri Lanka from MRF – one of the leading global brands.This outlet provides fully-fledged tyre services such as wheel alignment, wheel balancing and automatic tyre fitment using the latest imported machinery. In addition,tubeless tyre repair is also offered at the […]
Sri Lanka Fin Min hikes fuel price: Petrol Rs.149 and Diesel Rs.123
Sept 11, 2018 (LBO) – Sri Lanka’s Finance Ministry has raised the petrol price to 149 rupees a litre from 145 rupees with effect from midnight September 10 and diesel to 123 rupees from 118 rupees. The Retail Prices of Auto Fuel is as follows: Type of Fuel Present Price Revised Price (Rs.) Petrol 92 […]
Recommendations for positioning Sri Lanka as attractive FDI destination: AMCHAM/STAX
Sept 10, 2018 (LBO) – AMCHAM, in collaboration with STAX, recently launched the 2018 whitepaper ‘FDI Landscape and Investor Sentiment in Sri Lanka’ at a gathering of business and government leaders including Malik Samarawickrama, minister of Development Strategies and International Trade. In addition to providing a definitive view of FDI statistics, the whitepaper interweaves expert insights […]
Sri Lanka PM leaves to attend World Economic Forum of ASEAN in Hanoi
Sept 10, 2018 (LBO) – Prime Minister Ranil Wickremesinghe left for Hanoi, Vietnam on a three-day official to attend the World Economic Forum on the Association of Southeast Asian Nations (WEF ASEAN). The World Economic Forum on the Association of Southeast Asian Nations will be held from Sept.11-13 and 1,000 delegates from 43 countries and regions […]
Cigarette smuggling still booming, fuelling criminality: report
Smuggled market share is around 14 to 18% for cigarettes, which translate to 500 to 700 million sticks. A 40-foot container of smuggled cigarettes can add up to a profit of between Rs. 250-400 million. The loss of tax revenue from illicit tobacco is equivalent to 27 to 40% of the annual Samurdhi spending in […]