Category: Featured
Sri Lanka tourism office grades restaurants in Colombo
June 29, 2017 (LBO) – Sri Lanka Tourism Development Authority (SLDA) has launched a project to encourage upgrading of food safety, hygiene and services of places supplying meals for foreign and local tourists. The project named “Certification Scheme for Tourist Friendly Eating Places” is carried out with the participation of the Health Ministry and Colombo […]
Asbestos industry warns of economic, social and environmental impact from ban
June 29, 2017 (LBO) – Sri Lanka’s Minister of Technology and Research said that he was awaiting reports regarding the safe use of Chrysotile, a type of asbestos from the Industrial Technology Institute (ITI), after he had been moved to research claims being made by industry players in the roofing sheet industry. “Policymakers are working […]
Anilana Hotels to sell 51-pct stake to Somap International
June 28, 2017 (LBO) – Sri Lanka’s Anilana Hotels said an international firm Somap International (Private) Limited plans to invest in up to 51 percent of the company by way of an issue of new shares, with a total investment of 667 million rupees. Accordingly, 513 million new shares will be issued at a price […]
Laugfs enters residential apartment development
June 27, 2017 (LBO) – Sri Lanka’s Laugfs Property Developers, a subsidiary of Laugfs Gas PLC, has formed a fully owned subsidiary to undertake residential apartment complex projects. The new entity, Laugfs on Reid (Private) Limited, incorporated under the Companies Act last week, is located at their head office premises. Laugfs Property Developers (Private) Limited […]
GMOA says “NO”‘s statement on SAITM
June 27, 2017 (LBO) – Sri Lanka’s Government Medical Officers Association (GMOA) said Monday that they were not accepting President Maithripala Sirisena’s statement on SAITM and will continue their strike action. After discussions with the GMOA the president’s office issued a statement that the South Asian Institute of Technology and Medicine (SAITM) was instructed to […]
Sri Lanka Economic Summit to discuss need for Smarter Trade Strategy
June 27, 2017 (LBO) – ‘Sri Lanka Economic Summit 2017’ will dig deeper into the island’s trade reform agenda anchored towards new preferential trade pacts, tariff liberalization and export promotion, with the participation of experts representing both local and international trade bodies. A thematic session titled ‘Executing a Smarter Trade Strategy Amidst Turbulence’ will have a […]
Sri Lanka should relax issuing licenses for beer & wine: FinMin
June 23, 2017 (LBO) – Sri Lanka’s Finance Minister told Parliament Thursday that the country needs to relax issuing liquor licenses for beer & wine as it may reduce illegal liquor consumption. Minister Mangala Samaraweera said the ministry is now collecting information and is having discussions with the relevant parties with regard to the issue […]
Central Bank holds key rates unchanged, reserves climb
June 23, 2017 (LBO) – Sri Lanka’s central bank held key interest rates unchanged on Friday after a monthly monetary policy meeting with inflation moderating in April and May, and the economy expected to recover in the second half. “Growth in the first quarter was weighed down by the impact of unfavourable weather conditions, particularly […]
PM to head committee on UNHRC recommendations
June 22, 2017 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe will head a special committee to oversee implementation of United Nations Human Rights Council recommendations agreed on in 2015. “Cabinet approved to appoint a committee of ministers chaired by the Prime Minister Wickremesinghe together with officials to assist the main committee in this regard,” […]
‘s IFC to sell Sri Lanka rupee bonds
June 22, 2017 (LBO) – Sri Lanka’s government has approved a proposal to establish an offshore Sri Lankan Rupee (LKR) Bond Programme by the International Finance Corporation, a statement said. The program is beneficial to Sri Lanka, and the Cabinet Committee on Economic Management has recommended its implementation, the most recently approved cabinet decisions statement […]
Sri Lanka inflation slows to 7.1-pct in May 2017
June 22, 2017 (LBO) – Sri Lanka’s inflation according to the National Consumer Price Index (NCPI) was down to 7.1 percent in May 2017 from 8.4 percent in April, the Census and Statistics Department said. The NCPI for all items for the month of May 2017 was 121.8, an increase of 0.8 index points or […]
Sri Lanka to postpone SVAT abolition till end 2017
June 22, 2017 (LBO) – Sri Lanka’s cabinet approval has been granted to postpone the abolition of SVAT system until the end of this year. Accordingly, the SVAT abolition will take effect from 01 January 2018 after the necessary legislation is passed through Parliament. This decision has been taken in order to give sufficient time […]