Tag: news
Asia Securities says S&P telecoms report on Sri Lanka unjustified
Sep 04,2015 (LBO) – Sri Lanka’s Asia Securities says it is bullish on the Sri Lanka telecommunication sector even though a recently released report by Standard & Poor’s ratings agency sees telecom regulatory risk in Sri Lanka as high. S&P highlighted that they see a high regulatory risk in Sri Lanka with regulatory disruptions such […]
Sri Lanka‘s tea exports fall for 11th consecutive month
Aug 21, 2015 (LBO) – Sri Lanka’s Tea exports, continued to decline in June 2015 for the eleventh consecutive month, due to lower demand from main tea buyers such as Russia and the Middle East, as well as the unit price with the lowest export price of US dollars 4.39 per kg of tea being […]
EU monitors say poll well-administered, some rules restrictive
Aug 19, 2015 (LBO) – European Union election monitors said on Wednesday the parliamentary election in Sri Lanka was well-administered and offered voters a genuine choice from among a broad range of political alternatives.“On top of the positive legal changes, these have been the most peaceful elections in Sri Lanka in a long time,” Ignazio […]
Sri Lanka General Election in Pics
Aug 17, 2015 (LBO) – Sri Lanka’s 2015 parliamentary polls began on August 17 with a total of 6,151 candidates seeking a place for 225 places in parliament.About 3,653 candidates are contesting from recognized political parties while 2,498 independents also seek a seat in parliament. Media reports say Prime Minister Ranil Wickremesinghe and ex-President Mahinda […]
Sri Lanka Red Cross clarifies loaning a “Defender” to Siriliya foundation
Aug 11, 2015 (LBO) – Sri Lanka Red Cross Society says it is unaware of the activities and maintenance of the Land Rover Defender that was loaned to Siriliya Saviya Foundation following an official request.The vehicle is now in the possession of the Criminal Investigation Department probing the murder of rugby star Wasim Thajudeen, the […]
Sri Lanka Watawala Plantation profits drop; palm oil supports bottomline
Aug 07,2015 (LBO) – Sri Lanka’s Watawala Plantations said it made a profit of 131 million rupees in the June 2015 quarter, down 43 percent, compared with 231 million rupees in the same quarter last year, battered by declines in the tea sector.The firm reported earnings of 55 cents per share for the quarter, in […]
Sri Lanka should have simple, clear, predictable economic policies: Razeen Sally
Aug 05, 2015 (LBO) – Sri Lanka should have policies that are simple, clear and predictable for the economy to move ahead rather than a plethora that hold businesses back, an economist said. “Simplicity is the key,” Razeen Sally, an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore, […]
Sri Lanka to supply free domestic power connections to resettled families in the North and East
Aug 03, 2015 (LBO) – Sri Lanka’s government plans to restore provision of electricity connections free of charge to 20,000 resettled families in the North, Cabinet Spokeman Rajitha Senaratne said.At present, 232,828 families (796,342 members) are resettled in the Northern and Eastern Provinces, with the end of Tamil tiger war in 2009.The government will also […]
Sri Lanka exporters urged to be focused and add value: Harsha de Silva
July 30, 2015 (LBO) – Sri Lanka’s exporters should focus and export more value added goods and services with a target of surpassing Gross domestic product (GDP), Deputy Economic Policy Minister Harsha de Silva said.“I would like to see exports to GDP surpassing, that means more than 100 percent of GDP,” Silva said.“So that is […]
Sri Lanka rating supported by growth, constrained by govt finances: Moody’s
July 30, 2015 (LBO) – Sri Lanka’s credit outlook could improve if the government debt and interest payment ratios were to stabilize at considerably lower than current levels, Moody’s Investors Service said in a recent credit outlook report. Sri Lanka’s state credit is rated ‘B1’ below investment grade, by the rating agency. “Sri Lanka’s B1 […]
‘s cricket world cup winners
July 30, 2015 (LBO) – India’s Shreepati Edifice (Pvt) Ltd, a real estate developer will build a 96-floor tower, the tallest building in Sri Lanka, with an investment of 330 million rupees which will be a tribute to the Sri Lankan Cricket Team who won the World Cup in 1996. The Tubular structured state-of-the-art iconic […]
Sri Lanka businesses urged to practice good governance : IFAC President
July 29, 2015 (LBO) – Sri Lanka’s business organization should practice good governance to build next level businesses and to support country to move ahead, Olivia Kirtley, president of the International Federation of Accountants said.“Sri Lanka is one of the fastest growing market in the South Asia region and economic outlook for Sri Lanka seems […]