All News

We do not expect govt. to implement a price formula for electricity soon: Fitch

Oct 09, 2018 (LBO) – Fitch Ratings on Tuesday said that they do not expect the government to raise electricity tariffs or implement a …

Sri Lanka earnings from tourism up: Workers’ remittances decline marginally in July 2018

Oct 09, 2018 (LBO) - Sri Lanka’s external sector recorded a moderate performance in July 2018. The trade deficit continued to widen in July 2018 …

IMF cuts global growth forecast to 3.7-pct for 2018, 2019

Oct 09, 2018 (LBO) – International Monetary Fund has reduced its outlook for global GDP growth by 0.2 percentage points to 3.7 percent for 2018 and …

Opinion: Hardly any women on the National List, who is to blame?

October 9, 2018 (LBO) - After hearing about a women's business forum, and reading a joke on twitter about how the panel addressing the crowd was all …

Indian automobile manufacturers meet CMTA; 70% of new vehicles from India

A twenty-member delegation from the Society of Indian Automobile Manufacturers' (SIAM) held a very fruitful and cordial meeting with The Ceylon Motor …

Sri Lanka to integrate SMEs into formal sector to facilitate their growth : Fin Min

Oct 09, 2018 (LBO) - Sri Lanka's Minister of Finance said the government aims to integrate small and medium scale enterprises into an official …

Palm Oil industry rejects vilification of crop as “baseless and unscientific”

Oct 08, 2018 (LBO) - The vilification of oil palm in Sri Lanka on the grounds of the crop’s purported adverse impact on the environment is …

Sri Lanka has potential to more than double it’s exports to South Asia Region: WB

Oct 08, 2018 (LBO) - If trade barriers are overcome, trade within South Asia can increase three-fold, from 23 billion US dollars to 67 billion US …

SriLankan Airlines receives four star rating for second consecutive year

Oct 08, 2018 (LBO) – SriLankan Airlines was honoured with a Four Star Rating in the Major Regional Airline category by the Airline Passenger …

Subsidiary of Ambeon Holdings, Dankotuwa Porcelain re-introduces Laklain locally

Dankotuwa Porcelain PLC, renowned for its luxurious and elegant porcelain tableware, recently re-introduced its value-for-money heritage brand …

Former AG and Constitutional Council member Shibly Aziz no more

October 8, 2018 (LBO) - President's Counsel Shibly Aziz has passed away.  Sections of his biography from Wikipedia reproduced below: Mohamed Shibly …

Net foreign outflows from Sri Lanka’s stock/bond markets approach $ 500mn for 2018

October 8, 2018 (LBO) - Net foreign selling of Sri Lanka's stocks and bonds is nearing US$500 million dollars for 2018.  The outflows have been a …

Deregulation of real estate market to boost foreign investment :JLL

Oct 08, 2018 (LBO) - Real estate consultancy JLL Lanka commended the passing of recent legislation pertaining to foreign ownership of land in Sri …

ICJ orders US to ease Iran sanctions; India to continue purchasing crude oil from Iran

Oct 07, 2018 (LBO) – India will buy a total of 9 million barrels of oil from Iran in November, foreign media reported yesterday, citing an industry …

NDB seeks new investors to plug rights issue deficit, shareholder approval yet to be sought

October 6, 2018 (LBO) - Colombo Stock Exchange listed National Development Bank (NDB) has obtained board approval to sell shares unsubscribed for in …

United Kingdom’s Minister for Asia Pacific in Sri Lanka

October 6, 2018 (LBO) - Mark Field, Minister of State for Asia and the Pacific, arrived in Sri Lanka yesterday for a visit that will include meetings …

Ascot Holdings launches as Lanka Reality Investments PLC

(PRESS RELEASE) - The Board of the company is pleased to announce the launch of Lanka Reality Investments PLC (formerly known as Ascot Holdings PLC). …

Vice President of OPIC visits Sri Lanka; aims to counter debt-trap investments

Oct 05, 2018 (LBO) – Executive Vice President of OPIC, David Bohigian and other US government officials visited Sri Lanka from October 3 to 5 with …

Sri Lanka targets USD2.5Bn FDI in 2018

Oct 05, 2018 (LBO) - Sri Lanka is targeting 2.5 billion US dollars worth of foreign direct investments (FDI) for 2018 from 1.63 billion US dollars …

Fuel price formula will be useless if we reveal it: CBSL Senior Deputy Governor

Oct 05, 2018 (LBO) – Senior Deputy Governor of Sri Lanka’s Central Bank, Nandalal Weerasinghe says that the fuel price formula will be useless if …

Tourist arrivals to Sri Lanka up 2.8-pct in September with largest source from India

Oct 05, 2018 (LBO) – Tourist arrivals to Sri Lanka were up 2.8 percent to 149,087 in September 2018 from a year earlier, official data showed. Last …

President, NEC hold discussions on devaluation of rupee and economy

Oct 05, 2018 (LBO) - Special attention was drawn at a discussion regarding the promotion of Sri Lanka’s export sector and managing the devaluation …

Fin Min calls public proposals for Budget 2019

Oct 05, 2018 (LBO) - Sri Lanka's Finance Ministry has called on all stakeholders and professional bodies to present their proposals for the …

NDB trades below rights issue price of 105 on last day for subscription

October 4, 2018 (LBO) - Colombo Stock Exchange (CSE) listed National Development Bank (NDB) traded at Rs104 per share before noon on the last day for …