Tag: lankabusinessonline

Jan 29, 2015 (LBO) – Sri Lanka’s government to increases monthly salary of the state sector employees’ by 10,000 rupees, Minister of Finance Ravi Karunanayake, presenting a budget for 2015. We hope to grant more concessions to the public than we promised. He also asks the private sector to consider raising pay by 2,500 rupees. […]

Jan 29, 2015 (LBO) – Sri Lanka’s government will give a 15 percent interest rate to deposits of senior citizens in banks of up to one million rupees, Finance Minister Ravi Karunanayake said, presenting the interim budget in the parliament. This will cost an extra 4,900 million rupees to the government. Pensions of state workers […]

Jan 29, 2015 (LBO) – Sri Lanka’s new government will reduce the prices of 13 essential goods by removing of taxes, Minister of Finance Ravi Karunanayake said, presenting an interim budget for 2015. We only promised to reduces prices of 10 goods but we manage to increase into 13 goods due to the economic problems […]

Jan 27, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent taking in to the consideration of remaining low inflation in the island Central Bank said in its monetary policy review of January 2015. The regulator says with tax cut on fuel and other key commodities announced in […]

Jan 26, 2015 (LBO) – Sri Lanka’s forex reserves fell to 8.3 billion US dollars in November 2014, down from 8.8 billion US dollars in October, Central Bank data showed. The BOP for the eight months of January to August 2014 recorded a surplus of 2.1 billion US dollars data showed. The bank says the […]

Jan 26, 2015 (LBO) – Sri Lanka’s exports declined 10.7 percent, to 921million US dollars in November 2014 from a year earlier due to decline in earnings from textiles and garments followed by rubber products ,gems, diamonds and jewellery categorized under industrial exports, the Central bank said. As the growth of imports weighed on the […]

Jan 23, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has decided no new official vehicles should be purchased, a minister said yesterday. Cabinet spokesman Rajitha Senaratne said it has been decided not to purchase vehicles for the use of President , Prime Minister ,all the Ministers and Deputies and only the vehicles available in […]

Jan 23, 2015 (LBO) – Truefitt and Hill, world’s oldest barber shop as certified by Guinness Book of World Records in April 2000, wants to enter the Sri Lanka market and set up shops across the country, the company said in a media release. The 200 year old barber shop is operating outlets in Beijing, […]

Jan 23, 2015 (LBO) – Sri Lanka government to get assistance from the International Monetary Fund (IMF), World Bank and Reserve Bank of India to track down wealth which hidden abroad belongs to the key persons of the former government, cabinet spokesman said. He said according to the calculation by minister about 700 billion rupees […]

Jan 22, 2014 (LBO)-The new Government of Sri Lanka reduced the prices of fuel by removing tariff with effect from midnight yesterday. The decision was taken at the cabinet meeting held yesterday, the ministry of energy said in a media release. Price of a liter of petrol will be reduced by 33 rupees to 117 […]

Jan 22, 2015 (LBO) – Sri Lanka’s cabinet has given approval to establish a committee against corruption, cabinet spokesperson minister Rajitha Senarathne said today. The committee will be look into the items that have been brought for distribution during the presidential election, illegal acquisition of lands, corruption and irregularities of EFF and Colombo Stock and […]

Jan 21, 2015 (LBO) – Sri Lanka’s newly appointed minister of finance, Ravi Karunanayake was quoted saying that the new government will develop the economy though proper management of the tax revenue and by attracting foreign direct investment to the Island. Karunanayake said that the prime commitment of the new government is to fulfill the […]