Category: Economy and Markets
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. […]
Sri Lanka video showing rice as containing plastic is false: ministry
June 05, 2017 (LBO) – Sri Lanka’s Ministry of Industry and Commerce says a Youtube video that has gone viral which shows cooked rice as containing plastic is false. “The video shows that some basmati rice purchased from Pitakotte outlet of Lanka Sathosa not becoming stale (like other Basmati rice varieties) even after 24 hours […]
Sri Lanka vehicle registrations drop in April: JB Securities
Jun 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka fell to 33,438 units in April from 40,021 in March, with declines in all major categories except three-wheelers and tractors, JB Securities said in a research note, likely affected by the holiday season. Three-wheelers observed a 12 percent growth, month-on-month, to 1,452 units in […]
‘s Global Economy Programme
Jun 02, 2017 (LBO) – Sri Lanka’s foreign policy think tank Lakshman Kadirgamar Institute has signed a memorandum of understanding with the MJF Group to establish a Global Economy Programme to focus on international trade, foreign investment, and tourism. The establishment of the programme at LKI reflects the increasingly key role of economic diplomacy in Sri […]
Opinion : Building the future, infrastructure in ASEAN and South Asia
By Anna Marrs ASEAN and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact. Roads, railroads, bridges, ports and metros. All this construction is transforming the city centres and areas of economic activity, and the lives of 2.4 billion people. It […]
Sunshine Holdings records strong growth despite challenging market condition, Revenue up 10.3-pct
(PRESS RELEASE) • PAT improves sharply by 33.1% YoY to Rs. 1.6 billion • Healthcare revenue up 9.8% YoY to Rs 7.9 billion revenue • Agri revenue grew 3.2% YoY to Rs. 6.5 billion • FMCG revenue grew 22.5% YoY to Rs. 4.2 billion May 31, 2017: Sunshine Holdings PLC posted consolidated revenues of Rs. […]
Sri Lanka to obtain USD200mn loan from Pakistan
Jun 01, 2017 (LBO) – Sri Lanka’s cabinet has approved obtaining of a loan worth 200 million dollars from Pakistan for the financing of priority development projects. The loan will be utilized for housing construction, development of livestock, importing equipment required for agriculture and dairy production, and development of the Industrial Technology Institute. Former Finance […]
Four Sri Lanka state ministers, three deputy ministers take oaths
May 31, 2017 (LBO) – Several state ministers and deputy ministers took oaths before Sri Lanka’s President Maithripala Sirisena on Wednesday. The appointments are: Eran Wickremaratne – State Minister of Finance Lakshman Yapa Abeywardena – State Minister of Public Enterprise Palitha Rangebandara – State Minister of Irrigation Wasantha Senanayake – State Minister of Foreign Affairs […]
Unilever’s Project ArunellaWorks with Communitieson Sustainable Waste Management
Unilever’s Project ArunellaWorks with Communitieson Sustainable Waste Management (PRESS RELEASE) – Initiative Eliminates Garbage Dumps in Agarapathana Region Together With Authorities and Local Community The Arunella Waste Management project spearheaded by Unilever Sri Lanka’s CeyteaFactory in Agarapathanarecently achieved the complete elimination of waste being dumped in and around the KothmalaOya in the surrounding towns of […]
‘s economic success: Finance Minister
May 31, 2017 (LBO) – Sri Lanka’s newly appointed finance minister says to bring sustained investment and growth, Sri Lanka has to ensure peace and reconciliation while also setting up corresponding globally recognized regulatory mechanisms and investment practices. “Without reconciliation and durable peace, without guarantees of non-recurrence of conflict, Sri Lanka cannot achieve economic success,” […]
Foreign relief aid pledged to Sri Lanka after floods
May 30, 2017 (LBO) – Sri Lanka’s official flood death toll rose to 177 on Monday as the island sought international assistance. High Commissioners and Ambassadors from the United Kingdom, United States and Japan met with the newly appointed Foreign Minister Ravi Karunanayake and pledged their support in various forms of relief aid. Japan had […]
Verité wants govt to issue guidelines on e-signatures
May 30, 2017 (LBO) – Sri Lankan research organization Verité has called on the government to issue central guidelines to accelerate the acceptance of e-documents and e-signatures in Sri Lanka. Releasing a research note, Verité said issuing such guidelines, which apply to all government agencies, would be an efficient solution to inaction at the institutional […]