Tag: lbo
Sri Lanka to establish independent agency for tenders
Nov 03, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to streamline the process and transparency on all state tenders by establishing an independent centralised procurement institution, a statement said. “The new Independent Centralized Procurement Agency is to comprise five members including the following holders of office, representing women and major ethnic groups […]
‘s kidney disease prone areas
Nov 03, 2016 (LBO) – Sri Lanka has entered into a agreement with the Asian Development Bank to obtain 60 million dollars to implement clean drinking water facilities in the island’s chronic kidney disease prone areas, Wednesday. The project called the PuraNeguma – Local Government Enhancement Sector Project, will be utilized for the implementation of […]
Japan looks at SME business opportunities in Sri Lanka
Nov 02, 2016 (LBO) – Representatives from the World Business Society of Tokyo Small and Medium Enterprise Consultant Association (WBS) are currently visiting Sri Lanka to evaluate investment opportunities, the Board of Investment of Sri Lanka (BOI) said. The visiting delegation consisted of representatives of 19 Japanese enterprises who will act as consultants. They will […]
Haycarb records turnover of Rs.5.9Bn and PBT of Rs.458Mn for 1H 2016/17
(PRESS RELEASE) – The Sri Lankan multinational Haycarb PLC reported a revenue of Rs. 5.9 billion and profit before tax of Rs. 458 million for the six months ending 30th September 2016. The profit after tax stood at Rs. 374 million. The turnover increased by 8%, while the profit before tax and after tax recorded […]
GSP+ final decision by May 2017, tangible progress needed: EU
Nov 02, 2016 (LBO) – National reconciliation, the empowerment of women and Sri Lanka’s application for the General System of Preferences (GSP+) were the main focus of discussions of the four member delegation of the European Parliament. On GSP+, they stressed that the decision on Sri Lanka’s application will also need the approval of the […]
Aitken Spence Travels Brings in Russian Charter to Sri Lanka
(PRESS RELEASE) – Aitken Spence Travels, the premier destination management company in Sri Lanka in collaboration with Coral Travel & their airline charter arm, Royal Flight in facilitating their first charter flight from Russia to Sri Lanka for winter 2016/17. The charter arrived this morning, 1st of November 2016 to the Bandaranaike International Airport. The […]
Asian shares, dollar rattled by U.S. election uncertainty
TOKYO, Nov 2 (Reuters) – Asian shares stumbled and the U.S. dollar was on the defensive on Wednesday as signs that Republican U.S. presidential candidate Donald Trump could be closing the gap with his Democratic rival Hillary Clinton spooked investors. Anxiety in markets has deepened over a possible Trump victory given uncertainty on the Republican […]
Asia stocks, dollar wrestle with US political risk
SYDNEY, Nov 3 (Reuters) – Asia shares eased on Thursday while the U.S. dollar stayed on the defensive as a tightening U.S. presidential race saw the S&P 500 suffer its longest losing streak in five years as investors fled to safer harbours. Sovereign bonds, gold, the yen and Swiss franc were all in favour, and […]
Sri Lanka ranks 31st in Global Youth Development Index
Nov 01, 2016 (LBO) – Sri Lanka has been ranked 31st in the Global Youth Development Index (YDI) 2016 based on a country’s condition for the youth in terms of employment, education, health, civic and political spheres. The YDI is a composite index of 18 indicators that collectively measure multi-dimensional progress on youth development in […]
DPL First six months records Rs.11.5Bn Revenue
(PRESS RELEASE) – Group turnover for the 1st half of the financial year was Rs. 11.5 billion, compared to Rs.10.9 billion for the same period of the previous year. The Hand Protection sector contributed a modest Rs 7.0 billion to the Group’s top line, while the Plantation sector recorded a turnover of Rs. 4.5 billion […]
Asia stocks wallow at 6-wk lows, China PMIs in focus; oil down
HONG KONG, Nov 1 (Reuters) – Asian stocks wallowed near six-week lows on Tuesday as investors braced for a looming raft of economic and central bank events, while oil prices fell as markets doubted OPEC’s ability to implement planned production cuts. Market anxiety deepened in recent sessions after the Federal Bureau of Investigation on Friday […]
‘s
Oct 31, 2016 (LBO) – Sri Lanka’s Value Added Tax (VAT) hike 15 percent from 11 percent will make the island credit positive as it will facilitate fiscal consolidation by strengthening low revenue-to GDP ratio, Moody’s Investors Service said. “The government originally implemented the VAT hike in May, but retracted it in July after a […]