Category: Featured
Sri Lanka cabinet approves capital market strategy 2016-2020
Oct 27, 2016 (LBO) – Sri Lanka’s cabinet has given the nod for the government to follow a five-year capital market strategy in order to attract investors, issuers, institutions and mediators, a statement said. “Although the capital market plays a major role in economic development and sustainable development in rising economies in the world Sri […]
‘s Green University opened in Homagama
Oct 27, 2016 (LBO) – The National School of Business Management’s (NSBM) Green University in Pitipana, Homagama was declared open by President Maithripala Sirisena on Wednesday. This is the first university in the South Asian region built to be sustainable and eco-friendly, according to the university. The NSBM Green University comprises auditoriums, computer laboratories, a […]
Sri Lanka’s Fin Min to release Rs4bn for Golden Key depositors
Oct 27, 2016 (LBO) –Sri Lanka’s cabinet has approved a proposal to release an advance of 4.05 billion rupees to the Central Bank in order to pay the eligible depositors of Golden Key Credit Card Company. According to the repayment plan for the security deposit holders of Golden Key approved by the Supreme Court, the […]
”’ rank down one notch to 110: World Bank
Oct 27, 2016 (LBO) – The World Bank says Sri Lanka has dropped one place in the “Doing Business ” rank to 110, over the past year, but the island has made progress in two reform areas: starting a business and protecting minority investors. “The improvements, while important, were not enough to stop a decline […]
Sri Lanka spends Rs17mn monthly on Hambantota Conference Hall
Oct 25, 2016 (LBO) – Sri Lanka’s Urban Development Authority is spending 17 million rupees monthly just to maintain Magam Ruhunupura International Conference Hall (MRICH), a senior minister said. Megapolis Minister Champika Ranawaka speaking at a function said they are not getting anything in return as it is not being used. The conference hall was […]
Sri Lanka targets budget deficit of 4.4-pct for 2017: Minister
Oct 26, 2016 (LBO) – Sri Lanka plans on reducing it’s budget deficit to 4.4 percent in 2017 and curbing its total expenditure by around 10 percent, the State Minister of Finance said. “We propose to cut the budget deficit up to 4.4 percent and curb expenditure through reducing the government expenditure and better financial […]
Sri Lanka delayed VAT debate in Parliament tomorrow
Oct 25, 2016 (LBO) – Sri Lanka’s much delayed Value Added Tax (VAT) amendment bill under the equitable taxation principle will be debated in parliament, Wednesday, the Finance Ministry said in a statement. “The newly proposed VAT system is very simple and transparent,” Ravi Karunanayake, Minister of Finance said in the statement. VAT was introduced […]
Sri Lanka appoints committee to look at Norochcholai issues
Oct 25, 2016 (LBO) – Sri Lanka’s power regulator, the Public Utilities Commission, has appointed another three member committee to investigate the recent break down of Lakvijaya coal power plant in Norochcholai. The committee will be chaired by Shibly Aziz, former Attorney General and President Counsel and include R I Senaratne, head of the Department […]
Restoring normalcy in Sri Lanka north vital after shooting: NPC
Oct 25, 2016 (LBO) – Restoring normalcy in the north of Sri Lanka is of utmost importance after two students were shot dead at a police checkpoint, which triggered public protests, a civil society organization said. “The importance of restoring normalcy to the North has become evident in the aftermath of the fatal shooting incident […]
‘s FIU and Inland Revenue to share info
Oct 25, 2016 (LBO) – Sri Lanka’s Central Bank says its Financial Intelligence Unit (FIU) has entered into a memorandum of understanding with the Department of Inland Revenue to exchange information on money laundering and terrorist financing. The MoU will facilitate investigations and prosecutions in terms of the provisions of the Financial Transactions Reporting Act, […]
Danish delegation to look at infrastructure in Sri Lanka
Oct 25, 2016 (LBO) – A business delegation is due from Denmark to look at investment opportunities in Sri Lanka in in energy, infrastructure and water. “The delegation is interested in exploring the Sri Lankan market and strengthening ties with the Sri Lankan business community,” a statement from the European Chamber of Commerce of Sri […]
UN to look at innovative development, policy support in Sri Lanka
Oct 24, 2016 (LBO) – United Nations resident coordinator Una McCauley says the United Nations needs to move away from immediate humanitarian engagements into more developmental and policy support. This year marks 71 years since the United Nations was formed and 61 years since Sri Lanka became a member state of the UN. Celebrating the […]