Category: Featured
Sri Lanka’s Port City to apply its own economic, commercial laws: PM
July 18, 2016 (LBO) – The proposed Financial City better known as the Port City will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations, Prime Minister said. Delivering the keynote address at the third South Asian Diaspora Convention, Prime Minister Ranil Wickremesinghe said […]
LBR LBO Brand Summit 2016 inspires marketers with brand innovation
July 14, 2016 (LBO) – Leading digital strategists and value creators tackled the opportunities in digital media in front of a packed audience at the LBR LBO Brand Summit on Tuesday. Themed, “Building Winning Brands in the Digital Age and Strategy Innovation,” the 2016 edition of the summit was held at Cinnamon Grand with over […]
New incentive structure for investments in coming weeks: PM
July 13, 2016 (LBO) – Sri Lanka will unleash a new incentive structure for specific investment sectors coupled with a simplified tax system in the coming weeks, Prime Minister Ranil Wickremesinghe said. Wickremesinghe said the government has already identified specific sectors that generate high employment opportunities to offer new incentives. “I want to encourage both […]
‘s sovereign bond orders hit USD5.5 bln, govt raises USD1.5 bln (Updated)
July 12, 2016 (LBO) – The Central Bank of Sri Lanka on behalf of the government successfully raised 500 million dollars through 5.5-year sovereign bonds and one billion dollars through 10-year sovereign bonds The Central Bank said the “successful issuance” was Sri Lanka’s 10th US Dollar bond issuance and the first dual-tranche offering. The Bonds […]
VAT increase will apply after Parliament approval: Prime Minister
July 11, 2016 (LBO) – The Supreme Court’s interim order issued today suspending VAT increase is not expected to have any adverse impact on the government’s revenue collection, Prime Minister said. Releasing a statement Prime Minister Ranil Wickramasinghe said the VAT (Amendment) Bill has already been presented to the Parliament for the first reading on […]
‘ Union says back and forth on coal vs LNG wasteful
July 11, 2016 (LBO) – The Ceylon Electricity Board Engineers’ Union says a continuous “back and forth” on whether to construct further power plants using coal or LNG is a costly delay that Sri Lanka cannot afford. Coal is not substantially more environmentally polluting than LNG, and preparations for coal-fired power has been in existence […]
Sri Lanka’s DIMO, Uni of Moratuwa unveils formula student race car
Jul 08, 2016 (LBO) – Diesel & Motor Engineering (DIMO), an automobile company together with the engineering students from the Mechanical Engineering Department of University of Moratuwa, unveiled “D-Mora P1,” a car to compete in world’s biggest student motorsport competition. “The University of Moratuwa is the one of the main hubs of engineering and technical […]
Sri Lanka power regulator warns CEB on long term generation plan
Jul 07, 2016 (LBO) – Sri Lanka’s Public Utilities Commission (PUCSL) has warned that immediate action was necessary and that the Ceylon Electricity Board needs to expedite its submission of the Least Cost Long Term Generation Expansion Plan (LCLTGEP) 2015 – 2034 with the relevant changes. “You are required to submit the LCLTGEP 2015 -2034 […]
No urgent need to adjust Sri Lanka interest rates: CB Governor
July 06, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Indrajit Coomaraswamy says the monetary authority is closely watching interest rates, and the transmission impact of previous tightening takes 12 to 18 months. “We still haven’t seen the full effects of what has already been done,” he told reporters on Tuesday. “The slight […]
CB Governor awaits COPE outcome; bond market transparency to improve
July 05, 2016 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy told reporters Tuesday that he will look at the outcome of the COPE investigation before taking any action with regard to the alleged bond scam. Meeting reporters in Colombo for the first time after the new appointment, Coomaraswamy said the Central Bank will […]
LBR LBO Summit to focus on brand innovation in the digital age
Jul 04, 2016 (LBO) – Sri Lanka’s leading digital strategists and regional thought leaders will take the stage at the 2016 edition of “LBR LBO Brand Summit,” themed “Building Winning Brands in the Digital Age and Strategy Innovation” Lanka Business Online, LBO, will be hosting the annual LBR LBO Brand Summit on Tuesday 12 July […]
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]