Done Deal
Mar 15 (LBO) - The Treasury inked a deal with China National Machinery and Equipment Corporation on Wednesday, to build a US$ 455 million power plant in …
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Sri Lanka’s balance of payments records US$100 mn surplus
Mar. 15 (LBO) – Sri Lanka's balance of payments (BOP) has recorded a US$100 million surplus for the two-months to February, the Central Bank said …
Alternate Fuel
Mar08. (LBO) -- Sri Lanka’s fuel station operators are warning potential industry newcomers of the downside of petroleum retailing in an effort to halt …
Green Money
Mar08 (LBO) – The Treasury is to fork out a subsidy for wood based electricity generation, making tariffs for dendro-power higher and more …
Picking Crumbs
Mar 07 (LBO) – The Treasury has settled Rs. 500 million in unpaid subsidy bills due to Lanka Indian Oil Corp., weeks after the company's accounts took a …
Stock punters unaware of full gains in recent peace talks: peace advocate
Mar. 04 (LBO) – Punters in Sri Lanka's stock markets have not yet priced in the full benefits of the re-started peace talks between the government and …
Sri Lanka puts the clock back after 10 years
Mar 04 (AFP) - Sri Lanka will put the clock back by half an hour and revert to its original time after a 10 year experiment that failed to save energy through …
Foreign Flavour
Mar. 03 (LBO) – Sri Lanka is looking at the possibility of getting into a partnership with foreign governments to explore oil off the island’s …
Sri Lanka picks up Rs. 19.4 billion cheque from Japan
Mar. 02 (LBO) – Sri Lanka Thursday signed up for Rs. 19.4 billion loans from Japan to develop three key infrastructure projects, the finance ministry …
Illiteracy, no jobs, high risk activities among South Asia’s young could stifle progress
Illiteracy, no jobs and high risk behaviour among South Asia’s young people could affect the region’s progress and development, the World Bank …
Rising costs of electricity, firewood and milk tea fail to push Sri Lanka’s inflation
Feb. 18 (LBO) – Sri Lanka's annual inflation rate for February slipped to 10.3 percent from 11.1 percent in January, despite high costs of firewood, …
Sri Lanka stands by ceasefire with LTTE, though it is illegal.
Feb. 26 (LBO) - The government will abide by the agreements reached with the LTTE in Geneva, despite the original ceasefire agreement being illegal, members of …
Red Flag
The woes the Indian state oil giant IOC’s Sri Lankan unit continues, as the firm took an unprecedented hit on its accounts to provision off a disputed …
Sick Leave
Feb 22 (LBO) - Some workers at Sri Lanka's state owned power utility struck work on Wednesday in protest over unpaid wages, without disrupting power supplies. …
Last Warning
Feb. 21 (LBO) - About 50 public sector trade unions called off a planned strike, giving the government a ten day ultimatum to sort out salary anomalies. Unions …
Here’s Hoping
Reports that the treasury has set off tax liabilities of the Ceylon Petroleum Corporation against the full subsidy due from the government, has raised …
Treasure Hunt
Feb. 20 (LBO) - India's Reliance group is scouting for investment opportunities in Sri Lanka, with an eye on oil exploration in potential areas off Mannar on …
Betting Big
Feb. 15 (LBO) – Smaller lubricant players are asking the Sri Lankan government to scrap a five-year license fee and instead opt for a 0.5 percent tax on …
Sri Lankan taxpayers too afraid of tax collectors to complain about mistreatment
Jan 15 (LBO) - Sri Lankan tax payers are too afraid of retaliation by tax collectors to complain about mistreatment. Sri Lanka appointed a tax ombudsman in …
Seventeen badly run state-institutions cost taxpayers Rs. 70 bn annually
Feb. 14 (LBO) – Despite just over two decades of public sector reforms, 17 government entities continue to hemorrhage, draining Rs. 70 billion each year …