Tag: lbo.lk
Infrastructure must be developed alongside admin, legal frameworks: Finance Minister
June 20, 2017 (LBO) – Sri Lanka wants to boost investments to make the country an export driven economic and financial hub of the Indian Ocean, the new finance minister said. “Developing physical infrastructure must be done along with administrative and legal frameworks to ensure required policy or regulatory support to streamline and boost public […]
Sri Lanka calls EOIs for ferry system in Colombo
June 19, 2017 (LBO) – Sri Lanka’s Megapolis Ministry said it has called for expressions of interest to establish a ferry system in Colombo canals through a public-private partnership. “Tenders will close on 24 July and a potential shortlist of investors is to be announced in nine weeks,” issuing a statement, the ministry said. “The […]
‘s Long Term Energy Generation Plan not in keeping with govt policy: SEMA
June 16, 2017 (LBO) – The Least Cost Long Term Generation Expansion Plan (LCLTGP) 2018-2037 proposed by the Ceylon Electricity Board (CEB) is not in line with the policy of the government, the Strategic Enterprise Management Authority (SEMA) said. “According to the CEB’s plan only 35 percent of the islands energy demand will be met […]
‘s quality mall space shortage to continue: JLL
June 16, 2017 (LBO) – As Sri Lanka’s tourist arrivals rise and the local consumer becomes more brand conscious along with demand for better quality goods and services, an existing shortage of quality mall space is likely to continue in the short to medium term, a new report said. Jones Lang LaSalle, a property consultancy […]
Sri Lankan banks likely to come under capital pressure from Basel III: Fitch
Jun 07, 2017 (LBO) – Sri Lankan banks are likely to come under increased capital pressure from Basel III-related requirements, Fitch Ratings said in a statement. “We expect most banks will have to raise capital to meet the higher requirements, particularly if they are pursuing rapid growth,” it said. “The sector’s capital needs could be […]
Sri Lanka tourist arrivals down in May 2017 impacted by weather
Jun 07, 2017 (LBO) – Sri Lanka’s tourist arrivals were down 2. 5 percent to 121,891 in May, from an year earlier, with dips seen from the Middle East, South Asia and some East Asian markets, the latest data shows. According to the Sri Lanka Tourism Development Authority (SLTDA) arrivals in the first five months’ […]
Sri Lanka to develop railway with USD 318mn credit line from India
June 06, 2017 (LBO) – Sri Lanka’s Finance Ministry has signed an agreement with the Indian government to receive a US 318 million dollar line of credit (LOC) for the development of the railway sector in the island. The agreement comes following Indian Prime Minister Narendra Modi’s first visit to Sri Lanka in March 2015 where […]
Harsha assumed duties as Deputy Min National Policies and Economic Affairs
Jun 06, 2017 (LBO) – Sri Lanka’s former deputy Minister of Foreign Affairs Harsha de Silva assumed duties as Deputy Minister of National Policies and Economic Affairs on June 05. State Minister for National Policies and Economic Affairs Niroshan Perera was also present.
Hilton to open 140-room resort in Weerawila, Sri Lanka
June 06, 2017 – Hilton signed a management agreement with KDU Adventures (Pvt) Ltd, a subsidiary of KDU Group, to manage the 140-room DoubleTree by Hilton Weerawila, scheduled to open in the first quarter of 2018. The latest signing brings the current Hilton pipeline hotels in Sri Lanka to seven properties. “With a fast-growing, global […]
Janashakthi Offers Free Breakdown Assistance to All Vehicle Owners Affected by Floods
Expressing its solidarity with all fellow Sri Lankans affected by the recent adverse weather conditions, Janashakthi General Insurance Limited announced that Janashakthi Full Option will be carrying out a free breakdown assistance service across areas affected by the floods. As a result, all vehicle owners can now access this service, irrespective of their Insurance provider, […]
Sri Lanka growth to accelerate to 4.7-pct in 2017: World Bank
June 05, 2017 (LBO) – Sri Lanka’s growth is forecast to accelerate to a 4.7 percent rate in 2017 and 5 percent in 2018, a new World Bank report says. According to the World Bank’s June 2017 Global Economic Prospects growth will happen as international financial institution programs support economic reforms and boost private sector competitiveness. […]
US contributes Rs350 mln for Sri Lanka flood relief
Jun 05, 2017 (LBO) – The U.S. Ambassador to Sri Lanka Atul Keshap joined President Maithripala Sirisena to announce approximately 350 million rupees (. 3 million) in humanitarian assistance from the United States government and people to help victims of flooding and landslides in Sri Lanka. The aid will be used to provide safe drinking water, […]