Category: Featured
President, PM declared open Moragahakanda, biggest reservoir of Mahaweli
Jan 08, 2018 (LBO) – Sri Lanka’s President and Prime Minister on Monday declared open Moragahakanda, the last but biggest reservoir of the multipurpose Mahaweli Project. Moragahakanda will irrigate parched dry lands in faraway Vanni in the Northern Province on one side and Rajarata, Wayamba, Central and Eastern Provinces on the other. Today also marks […]
Treasury posts Rs22bn primary surplus in Budget, first time in 63 years
Jan 08, 2018 (LBO) – Government has achieved 21.9 billion rupees surplus in the primary balance of the fiscal accounts during the first ten months of 2017, for the first time in 63 years. Finance Ministry said in the post independent Sri Lankan history a surplus in the budget deficit was first recorded in 1954 […]
Proposed digital economy to uplift GDP by 1 to 3-pct in 2019: McKinsey
Jan 08, 2018 (LBO) – McKinsey & Company, a worldwide management consulting firm has confirmed that the proposed digital economy for Sri Lanka could uplift country’s GDP by 1 to 3 percent in 2019. Issuing a press release, Policy Development Office said McKinsey & Company has confirmed this while presenting their inception report for developing […]
Opinion : A stakeholder strategy for non-traditional organisations
By ThilanSenaratne Who is a stakeholder? A stakeholder is defined as ‘any group or individual who is affected by or can affect the achievement of an organization’s objectives’(Freeman, 1984). In other words, a stakeholder is someone who has a ‘stake’ in an organisation. There are dozens of stakeholder classifications. One of the most widely accepted […]
Tourist arrivals to Sri Lanka up 3.2-pct in 2017 despite set-backs
Jan 05, 2018 (LBO) – Tourist arrivals to Sri Lanka has reached an all-time high of 2,116,407 in 2017 according to the latest data released by the Sri Lanka Tourism Development Authority.The arrival figure for 2017 represents a 3.2 percent growth or 65,595 more arrivals over the preceding year when the figure crossed the 2 […]
Banking sector to provide 25-pct average return over 1-Year: FC Research
Jan 04, 2018 (LBO) – First Capital Research expects the banking sector to have a steady phase during 2018E-20E with stable credit growth, improving GDP growth supporting lower Non Performing loans and lower interest rate volatility leading to stable net interest margins. “We expect our banking sector universe to provide 25% average return over 1-Year […]
If we are going for a sovereign bond, better to go early: CB Governor
Jan 04, 2018 (LBO) – Central Bank Governor Indrajit Coomaraswamy says if Sri Lanka wants to issue a sovereign bond this year, it is better to issue it as early as possible for three reasons. “One is that there are maturities at the beginning of the year in terms of ISBs,” Coomaraswamy told reporters Wednesday. […]
Sri Lanka to raise USD5Bn from Sovereign and Development Bonds in 2018
Jan 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers have given approval to raise up to US 2 billion dollars through foreign commercial borrowings and a further US 3 billion dollars from Sri Lanka Development Bonds (SLDB) to raise the funds for loan repayment and financing of development projects. The proposal was put forward by […]
I will not hesitate to bring offenders of bond scam before law: President (Full Speech)
Jan 03, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says he will bring the offenders of the bond scam before the law and recover the 11,145 million rupees loss to the public. Statement by President Maithripala Sirisena on the Report of the Presidential Commission of Inquiry May the Triple Gem Bless You First of […]
Cocaine detected by employees of Lanka Sathosa in container
July 20, 2017 (LBO) – A haul of 150 Kg of cocaine has been detected by employees of Lanka Sathosa in a container addressed to CWE (Sathosa) on Wednesday. The detection was made at the warehouse of CWE (Sathosa) Rathmalana Economic Centre. “A tender bid for sugar supplies, was called on 18 July 2017 by […]
Sri Lanka Ports Authority to modernize Jaya Container Terminal
July 19, 2017 (LBO) – Cabinet nod has been received to modernize the Jaya Container Terminal (JCT) of the Sri Lanka Ports Authority in order to improve the capacity of the terminal. Ports and Shipping Minister Mahinda Samarasinghe said that this will be phase V of the renovation of the terminal which will allow the […]
‘s Foreign Minister
July 19, 2017 (LBO) – The proposed Sri Lanka-Singapore Free Trade Agreement will serve as Sri Lanka’s gateway to Southeast Asia, while Sri Lanka will be Singapore’s gateway in the Indian Ocean, Singapore’s Foreign Minister said in Colombo, Tuesday. Vivian Balakrishnan said it is incumbent on both governments to create a conducive climate for businesses […]