Category: Featured
Sri Lanka makes use of generators in factories compulsory
May 02, 2017 (LBO) – Sri Lanka’s Power Ministry has made it compulsory to use generators in factories from today for the next four days due to a shortage of power. Power Minister Ranjith Siyambalapitiya said due to prevailing hot weather condition total power consumption has increased by 18 percent during daytime and 10 percent […]
John Keells to encourage innovators with Open Innovation Challenge
May 02, 2017 (LBO) – Sri Lanka’s blue chip John Keells Holdings plans to boost local creative and intellectual talent with the launch of its second John Keells X “Open Innovation Challenge 2017” The programme will allow teams of aspiring innovators to compete for a chance to win entry into a six-month accelerator programme at […]
UNP ready for elections: PM at May Day rally
May 02, 2017 (LBO) – Sri Lanka’s Prime Minister and United National Party Leader, Ranil Wickremesinghe, said that they were ready for any election and would form the next Government. “Looking at these huge crowds, I can say that the UNP is ready for any challenge, any election,” said the Premier addressing the party’s May Day rally at Campbell […]
Sri Lanka vehicle registrations rebound to 39,173 units in March: JB Securities
May 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka recorded 39,173 units in March, significantly up from 30,036 the previous month, with a rebound in two-wheeler registrations, JB Securities said in a research note. On most categories, there was a rebound due to higher number of working days and pre-holiday season push from […]
PUCSL discusses environmental concerns with Norochcholai communities
Apr 28, 2017 (LBO) – Sri Lanka’s power regulator said that discussions are ongoing with communities that have raised concerns over the environmental impact of the Norochcholai coal power plant. The discussions come following Supreme Court direction to the Public Utilities Commission, the commission said issuing a statement. “All matters concerning the environmental damage caused […]
EU Parliament rejects motion to deny GSP+ for Sri Lanka
Apr 27, 2017 (LBO) – Sri Lanka won the vote in Brussels by 436 against and 119 in favor for the motion to deny GSP plus for Sri Lanka. A group of EU parliamentarians last week forwarded a motion to deny Sri Lanka access to GSP Plus, citing the slow pace of essential reforms in […]
Next IMF tranche by June, reserves comfortable by year end: Ravi
Apr 27, 2017 (LBO) – Sri Lanka’s Finance Minister said he was optimistic about talks on reaching a staff level agreement with the International Monetary Fund for the next phase, and that the next tranche would be released by June. “I think the tranche that was due April will come by June, there were some technical difficulties like […]
China Heavy Machinery Corp to carry out water, sewerage feasiblity
Apr 27, 2017 (LBO) – China Heavy Machinery Corporation is to carry out a feasibility study to identify and implement a reliable water and sewerage sector implementation plan in Hambantota covering the harbor and proposed special industrial zone. Minister of Water Supply Rauff Hakeem said the water supply demand of the Hambantota area will increase […]
Sri Lanka to extend Priority Bus Lanes to reduce congestion
Apr 27, 2017 (LBO) – Sri Lanka’s Megapolis Ministry has decided to expand the Priority Bus Lane concept to reduce traffic congestion in Colombo. Allocation of a Priority Bus Lane was implemented as a pilot project on Parliament Road between 12th and 23rd March with assistance of the Korean International Cooperation Agency. “It shows a […]
Higher growth for Sri Lanka will depend on addressing structural issues: CB
Apr 27, 2017 (LBO) – Sri Lanka’s economic performance in 2016 reconfirmed the necessity of addressing deep rooted structural issues, in order to enable the country to progress towards a higher growth trajectory, the Central Bank said. “Along with strengthening macroeconomic fundamentals through improved fiscal performance and the conduct of monetary policy in a forward […]
Sri Lanka, India sign MOU to cooperate on economic projects
Apr 27, 2017 (LBO) – Sri Lanka and India signed an MoU on economic co-operation in the presence of Prime Minister Narendra Modi and Sri Lankan counterpart Ranil Wickremesinghe in New Delhi Wednesday. As per Indian media reports, the MoU proposes Indian investment in development of port and oil tank farms in Trincomalee, setting up […]
Sri Lanka govt wants Sarath Fonseka as defense chief
Apr 26, 2017 (LBO) – Sri Lanka’s national government has offered ex-Army chief Sarath Fonseka the task of upholding discipline in the country by taking a key role in law and order under him. At Tuesday’s cabinet meeting it was proposed to appoint him either as Army Commander or as Chief of Defense Staff, Cabinet […]