Tag: lbo
Fin Min tells Parliament that Q1 2019 growth will rebound to 3.5-pct
Jun 19, 2019 (LBO) – Sri Lanka’s economic growth has increased to 3.5 percent of gross domestic product in the first quarter of 2019, Finance Minister Mangala Samaraweera told parliament. “Our Government took the real growth to the villages.The economy in the first quarter grew at 3.5 percent against 1.8 percent last quarter of 2018, which […]
Sri Lanka vehicle registrations down in May 2019
Jun 19, 2019 (LBO) – Vehicle registrations across the board slowed except for 2 wheelers, mini and light trucks during the period May 2019, a new report shows with the turmoil in the country during that month significantly contributing. Total motor car registrations recorded 1,816 units in May down from 2,120 units in April and […]
Ritz-Carlton Residence and Hotel Tower reaches 30th floor
Jun 17, 2019 (LBO) – Keeping its promise to its client’s and stakeholders, developers of The Ritz-Carlton Hotel and Residence, Colombo, The One Transworks Square Ltd. announced that the 30th floor of the 80-floor tower is now completed as per the schedule. The ultra-luxury tower standing at 326 m will house the hotel brand ‘The […]
Sri Lanka BoI sign USD1.6Mn Yala hotel deal with Spanish firm
Jun 14, 2019 (LBO) – The Board of Investment of Sri Lanka signed an Agreement with Putus Brother’s Sustainable Developments (Private) Limited to build, construct and operate a 15 cabana hotel project in Palatupana, Yala. The total value of the project is US 1.6 million dollars. The project will consist of 43 luxury cabanas in […]
Data on violence against women crucial to understanding magnitude of issue: Report
Jun 14, 2019 (LBO) – One in three female homicides in Sri Lanka are related to intimate partner violence and 69 percent of such incidences go unreported, according to a study done in five provinces commissioned by the United Nations Population Fund (UNFPA). In 2018, the High Commission of Canada to Sri Lanka issued a […]
Sri Lanka launches National Digital Roadmap
Jun 12, 2019 (LBO) – Sri Lanka Telecom yesterday marked a special milestone in the country’s digital journey towards SMART Sri Lanka with the launch of the National Digital Roadmap at the Nelum Pokuna Theatre, under the patronage of President Maithripala Sirisena. Also in attendance at the event was Telecommunication, Foreign Employment and Sports Minister […]
Japanese investor reiterates confidence in Sri Lanka
Jun 12, 2019 (LBO) – President of Tosslec Co. Ltd, Kyoto, Japan Jitsuo Mikasa, a Japanese investor has reaffirmed that his company would continue to invest in Sri Lanka without any break or disruption. Tosslec Co. Ltd’s subsidiary Tos Lanka Co.(Pvt) Ltd has been in operation in the Biyagama Export Processing Zone since 1995 and […]
Sri Lanka petrol price raised to Rs138 per ltr
Jun 11, 2019 (LBO) – Sri Lanka’s government will increased the price of 92 Octane petrol by three rupees to 138 rupees for a litre from midnight yesterday. The price revision was done under a pricing formula introduced by the Finance Ministry in 2018. Prices of three other fuels remained unchanged, according to a statement. […]
SriLankan named world’s most punctual airline
Jun 07, 2019 (LBO) – SriLankan Airlines has been named the world’s most punctual airline yet again, with 90.75 percent of its flights in May 2019 being ‘on-time’ throughout its route network, the company said in a statement yesterday. This is the second time in less than 12 months that SriLankan has achieved this milestone, […]
Modi to visit Sri Lanka on Sunday, 9th June
Jun 07, 2019 (LBO) – Indian Prime Minister Narendra Modi will visit Sri Lanka on Sunday June 9. He will be making the stop after the Maldives on June 8 and 9 and the visit comes following the invitation of President Maithripala Sirisena during his recent trip to India. The Indian Premier is due to […]
CB extends suspension on Pan Asia’s primary dealer unit
Jun 07, 2019 (LBO) – The Central Bank of Sri Lanka, acting in terms of the regulations made under the registered stock and securities ordinance and the local treasury bills ordinance, has decided to extend the suspension of business and activities of Pan Asia Bank’s primary dealer unit. The suspension has been extended by a […]
Sri Lanka tea prices down in May 2019
Jun 06, 2019 (LBO) – Sri Lanka’s tea prices or national average for May 2019 were down to 51.69 rupees vis-à-vis May 2018 with medium and low growns showing the biggest deficit, a report shows. “In first 5 months of year, prices show a decrease of 41.64 compared to 2018,” Forbes and Walker Tea Brokers […]