Category: Featured
Walkers Piling commences Sri Lanka’s first sea piling project
Sept 08, 2016 (LBO) – Sri Lanka’s Walkers Piling, a subsidiary of MTD Walkers, announced that they have commenced work on Sri Lanka’s first sea piling project at the Mutuwal Harbour. The piling work is being carried out to enable the installation of a state of the art Shiplift and Transfer System at the Mutuwal […]
‘s CCC and Police to discuss law enforcement matters
Sept 08, 2016 (LBO) – The Ceylon Chamber of Commerce, the National Police Commission and the Sri Lanka Police says they will will hold a seminar with the participation of the corporate sector representatives to discuss ‘law enforcement matters’ in the country. The seminar will focus on how to collaborate between the police and the […]
LBR LBO Infrastructure Summit 2016 to focus on transformative power of “Western Region Megapolis Project”
Sep 08, 2016 (LBO) – Leading local and foreign urban planners, legal experts, technology professionals, policy makers, academics, researchers and senior corporate thought leaders will take the stage at the 2016 edition of “LBR LBO Infrastructure Summit. With an objective of creating a multi-stakeholder conversation on the transformative opportunities of the Western Region Megapolis Project, […]
Sri Lanka tourist arrivals up 11.8-pct in Aug 2016, China tops India
Sep 07, 2016 (LBO) – Tourist arrivals to Sri Lanka rose 11.8 percent in August to 186,288 visitors compared with the same month last year, official data show. Arrivals during the first eight months of the year were up 16 percent to 1,359,906 visitors. China continued it’s upward trend in August for a second consecutive […]
‘s Lagarde urges action to deliver on G20’s Hangzhou commitments
Sept 06, 2016 (LBO) – Christine Lagarde, Managing Director of the International Monetary Fund (IMF), called on the leadership of the Group of 20 (G20) to implement plans for economic growth through monetary, fiscal and structural adjustments, and for the wider sharing of this growth, after Summit in Hangzhou, China. “I would like to warmly […]
Sri Lanka exports fell 5-pct in June, trade gap widens 6-pct
Sept 05, 2016 (LBO) – Sri Lanka’s exports fell 5.0 percent to 897 million US dollars in June 2016, while imports dropped a slower 0.2 percent to 1,676 million US dollars from a year earlier, official data showed. The trade gap further widened 6.0 percent to 779 million US dollars from a year earlier due to […]
Ban Ki-moon sees development, commends steps towards reconciliation
Sept 05, 2016 (LBO) – UN Secretary General Ban Ki-moon said he had seen economic development in the island since his last visit in 2009, and commended steps taken by the government to promote reconciliation. “I visited the North of the country Jaffna, today, and saw an enormous contrast with my experience there in 2009. […]
Indian Ocean Region, significant playing field for big powers: PM
Sept 02, 2016 (LBO) – Sri Lanka’s Prime Minister says the Indian Ocean region has always been a significant playing field for big powers and historically it has also been a bridge between the East and West. Speaking at the Indian Ocean Conference Prime Minister Ranil Wickremesinghe said the wealth and technology gap between the […]
Sri Lanka expected to hold rates steady in 2016: Stan Chart
(Corrected to reflect typo in report. USD/LKR seen at 152 by end 2017) Sept 02, 2016 (LBO) – Sri Lanka is expected to hold interest rates steady for the rest of 2016 as the impact of two previous rate hikes kick in, Standard Chartered said in a report analyzing the economies of Sri Lanka and […]
HNB approves USD50 mln share issue to ADB, up to 9.9 pct stake
Sept 01, 2016 (LBO) – The Hatton National Bank PLC board has approved issuing shares for 50 million dollars to the Asian Development Bank by way of a private placement, making the development lender a strategic investor. “The proceeds of the issue of shares by private placement as aforementioned will be utilized for the purpose […]
Sri Lanka’s Volkswagen project temporarily halted: Minister
Aug 29, 2016 (LBO) – The proposed project to set up a Volkswagen car plant in Sri Lanka has temporarily been halted, Deputy Minister of Public Enterprise Development Eran Wickramaratne said. “Due to the international issues they had to face, they have decided not to invest in this project in Sri Lanka for now,” Wickramaratne […]
Sri Lanka’s tea industry opposes state interference to use levy
Aug 29, 2016 (LBO) – Sri Lanka’s tea industry players have opposed the Finance Ministry’s move to appropriate the funds accumulated by Tea Board, collected from the industry, for global tea promotion. Releasing a statement, six associations in the tea industry appealed to the Government to reconsider what they called an ‘unfair’ action in deference to […]