Category: Featured
Sri Lanka Budget 2019: Targets public revenue to increase 17-pct, Debt to GDP down to 70-pct
Jan 07, 2019 (LBO) – Sri Lanka’s Finance Ministry says Budget 2019 will increase public revenue to 17 percent of Gross Domestic Product (GDP) while capital expenditure will be limited to 3.5 percent of GDP. It will also target maintaining the debt-to-GDP ratio to just 70 percent with recurrent expenditure cut down to 15 percent […]
Hayleys Advantis partners with Trustworthy.Ae Group to manage Abu Dhabi container facility
Jan 07, 2019 (LBO) – Hayleys Advantis , the transportation and logistics arm of Hayleys PLC, announced that it has entered into a deal with Dubai-based Trustworthy.ae Group. “Advantis is to operate and manage a state of the art Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the […]
LRT project to kick start in 2019 : Cabinet nod for Japanese aid of USD1850Mn
Jan 04, 2019 (LBO) – Sri Lanka’s Finance Ministry says that cabinet approval has been received to go ahead with US 1850 million dollar loan agreement with the Japan International Cooperation Agency (JICA) to commence initial work on the islands much anticipated LRT project. The ministry said that the loan, will be disbursed in six stages and […]
LankaPropertyWeb.com Acquires Lamudi.lk
Jan 04, 2019 (LBO) – Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved […]
Sri Lanka and Nepal to strengthen economic cooperation
Jan 02, 2018 (LBO) – The Embassy of Sri Lanka in Nepal, together with the Nepal- Sri Lanka Chamber of Commerce and Industry organized a programme on “Promotion of Economic relations between Sri Lanka and Nepal” at Hotel Radission in Kathmandu, recently. Sri Lanka’s Ambassador to Nepal Swarna Perera and President of the Nepal- Sri […]
‘s Dialog announce live transmission of South Asia’s first 5G pilot
Jan 01, 2019 (LBO) – Dialog Axiata announced the commissioning of South Asia’s first fully functional and standards compliant 5G transmission using commercial grade base stations and end user devices. Dialog’s pre-commercial 5G transmission was enabled in collaboration with the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) who has lead the region in making available […]
‘s Ken Hu expresses confidence in business
Dec 28, 2018 (LBO) – Huawei rotating Chairman Ken Hu issued a strong message of confidence in Huawei’s business growth and prospects, citing the trust of hundreds of network operators, nearly half of the world’s Fortune 500 companies, and hundreds of millions of consumers. Huawei’s 2018 revenue, he said, was expected to exceed US$100 billion. He was […]
BOI inks deals in tourism and pharmaceutical sectors
Dec 21, 2018 (LBO) – The Board of Investment signed Agreements for projects in the field of hotels and the manufacture of pharmaceuticals. The Agreements were signed on behalf of the BOI by the Chairman Hemasiri Fernando. Also present was Champika Malalgoda, Director General of BOI. The Wild Beach Resorts (Private Ltd) project is to […]
Sri Lanka’s new Cabinet of Ministers sworn in
Dec 20, 2018 (LBO) – Sri Lanka’s new Cabinet of Ministers was sworn in before President Maithripala Sirisena at the Presidential Secretariat, today. Accordingly, 29 new Cabinet Ministers were sworn in before the President (without President’s cabinet portfolios). Sources said State Ministers and Deputy Ministers will be appointed later. Following are the Ministers and their portfolios: […]
‘s Softlogic Life
Dec 19, 2018 (LBO) – LeapFrog Investments, a leading profit with purpose investor, today announced a USD 12 million dollar investment in Softlogic Life Insurance PLC, purchasing the shares of FMO, the Dutch development Bank. The company, growing at 2x the market, is one of Sri Lanka’s fastest growing life insurers, providing Sri Lankans with individual […]
Sri Lanka GDP 2.9-pct for third quarter 2018
Dec 19, 2018 (LBO) – The Department of Census and Statistics (DCS) Sri Lanka said economic growth rate of the country is estimated as 2.9 percent for the third quarter of 2018. The Gross Domestic Product at constant (2010) prices for the third quarter of 2018 recorded as 2,431 ,627 million rupees and GDP reported […]
MR named opposition leader, Kiriella leader of the house
Dec 18, 2018 (LBO) – Sri Lanka’s Speaker of parliament Karu Jayasuriya named Mahinda Rajapaksa the Leader of the Opposition, Tuesday when the house convened. The Speaker said the United People’s Freedom Alliance was now the largest opposition party as it was no longer in the ruling coalition. Lakshman Kiriella was appointed as the leader of […]