Tag: lbo.lk
‘s 2016 tea production, exports down, revenue up
Jan 26, 2017 (LBO) – Sri Lanka’s tea exports for 2016 totaled 288.7M/kgs compared with 306.9M/kgs during 2015 showing, a decrease of 18.2M/kgs, a tea market report said. “This records the lowest export volume since 2002 where total exports declined to 287.2M/kgs,” Forbes & Walker Tea Brokers said in their latest report. When analyzing the categories of exports, […]
Govt gives nod for construction of luxury tourist camps in Yala
Jan 26, 2017 (LBO) – The cabinet has approved additional land of 155 perches on 50 year lease basis to construct luxury tourist camps adjacent to Yala National park, a statement said. The price of the land adjacent to Yala Block C will be determined by the Chief Valuer with approvals needed from the Department […]
Sri Lanka to expedite grid connections for roof top solar: PUCSL
Jan 25, 2017 (LBO) – Sri Lanka’s power regulator has directed the Ceylon Electricity Board (CEB) and Lanka Electricity Company Private Limited (LECO) to connect domestic rooftop solar plants to the national grid within two weeks from the date of application. “The direction to provide the connection for rooftop solar plants to the national grid […]
Sri Lanka down 12 notches on corruption index
Jan 25, 2017 (LBO) – Sri Lanka has fallen 12 places to 95th in the Corruption Perception Index (CPI) 2016, when compared with 2015, a report released by Transparency International said. The global movement against corruption ranks countries according to the perceived level of public sector corruption. The ranking is based on a scoring system that […]
Aitken Spence Hotels Turyaa Chennai amongst Top Five-Star Hotels in the City
(PRESS RELEASE) – Turyaa Chennai, owned and operated by Aitken Spence Hotels has successfully met criteria for obtaining “5-Star Deluxe” classification, ranking it as one of five hotels in Chennai to have obtained this highly sought after accreditation. Turyaa Chennai now joins Hilton Chennai, Hyatt Regency Chennai, ITC Grand Chola Chennai and Park Hyatt Chennai […]
Watch the West, Reach Out To The East: Stan Chart Economist
Jan 24, 2017 (LBO) – Sri Lanka should keep a keen eye on the developments in the West, the traditional export markets, but should reach out to the East for trade and investments, an economist said. Chief Economist of Standard Chartered Bank for Asia, David Mann was responding to LBO’s question on what should be Sri […]
Former Governor Mahendran “NOT” working at Ministry: Ravi
Jan 24, 2017 (LBO) – Sri Lanka’s Finance Minister has denied reports that former Governor of the Central Bank, Arjun Mahendran is attached to his ministry or the Central Bank, a statement said. “The Ministry of Finance wishes to inform that Arjun Mahendran, the former Governor of the Central Bank of Sri Lanka, is not working in […]
Asiri Hospitals signs MoU with NITF for state sector employee healthcare packages
(PRESS RELEASE) – Beneficiaries of the National Insurance Trust Fund (NITF)’s healthcare services will now be eligible to seek treatment at any hospital under the Asiri Group of Hospitals following the recent signing of a memorandum of understanding (MoU) between the two organisations. As a result of the MoU, Asiri Group of Hospitals will now serve […]
Dollar falls further in Asia amid trade jitters
SYDNEY, Jan 24 (Reuters) – The dollar hit the skids in Asia on Tuesday as U.S. President Donald Trump’s focus on trade protectionism fuelled suspicions his administration might seek a competitive advantage through a weaker currency. The talk of trade wars favoured safe-haven Treasuries and the Japanese yen while subduing stocks, particularly as Asian […]
Over one million Sri Lankans affected by drought
Jan 23, 2017 (LBO) – Sri Lankans have been warned to conserve water and electricity with over a million persons affected so far by drought as crop output decreases and shortages of drinking water are being reported, officials said. Officials at the disaster information center say over a million person have so far been affected […]
‘s protectionist address
TOKYO, Jan 23 (Reuters) – The dollar slipped and Asian shares were on the defensive on Monday as worries about President Donald Trump’s protectionist policies outweighed optimism that he will follow through on promises of tax cuts and other stimulus. Japan’s Nikkei dropped 1.3 percent while shares in South Korea and Australia dropped 0.3 percent, […]
IMF commends Sri Lanka on economic progress made so far
Jan 23, 2017 (LBO) – The International Monetary Fund (IMF) has commended the new strategy of Sri Lankan government to create financial discipline and lead the country in a correct path to economic development. Managing Director of the International Monetary Fund Christine Lagarde said she highly values the Sri Lankan Government’s dedication to take the […]