Category: Featured
Sri Lanka Budget Openness, amongst lowest ranked countries in South Asia
Jan 31, 2018 (LBO) – Sri Lanka’s budget openness in the latest survey has scored 44 out of 100, coming in next to last in South Asia, tied with Pakistan. Open Budget Survey, which scores 115 countries on the openness of their budget process, is the world’s only independent assessment of information disclosure in public […]
Ravi K should not exercise duties as Assistant Leader of UNP: Marapana Committee
Jan 31, 2018 (LBO) – Marapana committee has recommended that former minister Ravi Karunanayake should not exercise any duties as an Assistant Leader of the United National Party until a finality is reached in the action against him. Releasing a statement, UNP General Secretary, Kabir Hashim said the report of the Marapana committee will be […]
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Jan 29, 2018 (LBO) – Moody’s Investors Service expects that the Sri Lanka-Singapore Free Trade Agreement will enhance the cross-border trade of goods and services and promote foreign direct investment (FDI) between the two countries, a credit positive for both. Last Tuesday, Singapore (Aaa stable) and Sri Lanka (B1 negative) signed a free trade agreement, although […]
Sri Lanka achieves highest ever FDI of USD1.63bn in 2017
Jan 28, 2018 (LBO) – Foreign Direct Investment (FDI) into Sri Lanka has grown to over 1.63 billion US dollars in 2017, doubling the 802 million dollars achieved in the previous year. The Board of Investment (BOI) reported that 1.63 billion dollars achieved in 2017 is the highest ever surpassing the 1.61 billion dollars in […]
CHEC to kick off Port City project with billion dollar towers : Minister
Jan 26, 2018 (LBO) – Sri Lanka government has signed two Memorandums of Understanding with China Harbour Engineering Company (CHEC) to facilitate investment on Colombo International Finance City (CIFC) to construct a building complex and an underground marine drive road tunnel, a Minister said. “CHEC want to kick start investment and the project company has indicated […]
‘s, Explores FTA option
Jan 25, 2018 (LBO) – President of Indonesia Joko Widodo in the island on a offical vist met with Sri Lanka’s President and exchanged views on the progress and challenges in the bilateral cooperation and agreed to enhance cooperation for the mutual benefit. President Widodo conveyed Indonesia’s commitment to contribute towards Sri Lanka’s development, particularly in infrastructure and connectivity. Both […]
Singapore FTA: What it means for Trade and Investment Flows
By Janaka Wijayasiri and Kithmina Hewage The freshly-signed Sri Lankan-Singapore FTA (SLSFTA) marks a new milestone in the relations between the two island economies. The agreement, signed on 23 January 2018, after almost 18 months of negotiations, is a modern, comprehensive, and high quality agreement. It covers a wide range of areas including goods and […]
Cost reflective pricing formula for fuel, electricity this year: CB Governor
Jan 24, 2018 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy says the government will introduce a cost reflective pricing formula for both fuel and electricity this year. The IMF said in its latest report that domestic prices of fuel and electricity are expected to be determined by a formula introduced in March and […]
Sri Lanka inflation dips to 7.3-pct in December 2017
Jan 23, 2018 (LBO) – The overall rate of inflation as measured by National Consumer Price Index (NCPI) on year on year basis was down to 7.3 percent in December 2017 when compared with 8.4 percent November 2017, according to the Department of Census and Statistics. Issuing a statement the department said Y on Y inflation of food […]
Restricting sale of liquor to women: public debate is misinformed
Jan 22, 2018 (LBO) – Interdisciplinary think tank, Verité Research says that contrary to popular understanding, Excise Notification No.04/2018 issued by the Finance Minister only prohibits the sale of liquor to women inside a tavern. The research firm highlights that this restriction has no implication on the purchase of liquor almost anywhere else, which is […]
Sri Lanka signs FTA with Singapore tomorrow
Jan 22, 2018 (LBO) – A Free Trade Agreement between Sri Lanka and Singapore will be signed following bilateral talks between the two nations, Tuesday. Prime Minister of Singapore Lee Hsien Loong is to arrive in Sri Lanka on the invitation of Sri Lanka’s President Maithripala Sirisena, Monday. Last week, Sri Lanka’s Cabinet approved a […]
Seat belts, air bags compulsory on vehicles from July: Finance Ministry
Jan 19, 2018 (LBO) – Finance Ministry has decided to postpone the implementation of the budget proposal on introduction of emission standards and safety measures up to July 01, 2018. The decision has been taken after considering the representations made by motor vehicle importers and manufacturers for a lead time to make required adjustments to comply […]