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Sri Lanka’s Power Minister pays double for coal purchase: Udaya Gammanpila
June 16, 2015 (LBO) – Sri Lanka’s Power Minister is currently paying almost double for the purchase of coal at current world prices, Western Provincial Councilor Udaya Gammanpila charged.Gammanpila, who broke away from the JHU at the last Presidential election, accuses his former ally Champika Ranawaka for intervening an alleged tender deal saying it is a mega deal. According […]
Sri Lanka’s GDP grows 6.4-pct in 2015 first quarter
Jun 16, 2015 (LBO) – Sri Lanka’s economy grew at 6.4 percent in the first quarter of this year with growth in the services sector, the statistics office said. The growth rates for the 2015 first quarter for services was 7.5 percent, industries 6.5 percent and agriculture 0.7 percent, the Census and Statistics Department said […]
Sri Lanka securities regulator to allow short selling in equity markets
June 16, 2015 (LBO) – Sri Lanka’s securities watchdog, the Securities and Exchange Commission says it is currently looking at the regulatory frame work to allow short selling in the equity markets. “We are thinking of short selling for the equity market with certain guild lines.” Director General of the Securities and Exchange Commission, Vajira […]
Investments will flow into Sri Lanka after polls: CBK
June 16, 2015 (LBO) – Investors are waiting for the upcoming election to finish in order to bring in new projects to Sri Lanka, former President Chandrika Bandaranayake Kumaratunge said.“We need to bring in investments and now the investors are ready to come,” she said at a recent media conference. “Because they know that the […]
Sri Lanka’s FLC Hydro Power commissions its fourth power plant
June 15, 2015 (LBO) – Sri Lanka’s FLC Hydro Power which has interests in building, owning, operating and maintaining hydro power generation facilities in the island has commissioned its 800Kw plant on 11 June 2015.Newly built mini hydro power plant is owned by Thebuwana mini hydro private limited which is a wholly-owned subsidiary of FLC […]
Sri Lanka stocks close up 0.3-pct for second straight day
Jun 15, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.33 percent for a second consecutive session with index heavy stocks making gains Monday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 17.69 points higher at 7,78.97 up 0.33 percent. The S&P SL20 closed 12.95 points higher at 3,926.96, up 0.25 […]
Singer Finance to enter the Credit Card business
June 15, 2015 (LBO) – Sri Lanka’s Singer Finance said it plans to launch a credit card in the latter half of this year targeting rural consumers, the company told shareholders in its annual report of 2014/2015. The company said that it has applied to the Central Bank of Sri Lanka for a license to […]
Sri Lanka’s President appoints Gagan Bulathsinhala as new Air Force Commander
June 15, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Air Vice Marshal Gagan Bulathsinhala as the new Commander of the Sri Lanka Air Force, the President’s Media Division told LBO.Bulathsinhala will replace the former Commander Kolitha Gunatilleke, who is to assume duties as the Chief of the Defence Staff.Bulathsinhala served in several […]
Sri Lanka Tourism – Korean Air to promote South Korean market to double the visitors
June 15, 2015 (LBO) – Sri Lanka tourism promotion bureau joined hands with Korea Airlines to promote tourism to the South Korean market in order to double the arrivals to the Island, a statement said. “Sri Lanka currently attracts 13,000 visitors from South Korea and we want to double this volume within a year and […]
Aitken Spence to build two resorts in Maldivian Islands, bullish about tourist potential
June 15, 2015 (LBO) – Sri Lanka’s Aitken Spence group said it plans to start construction of two new resorts in Maldives which will add 360 room to its portfolio and boost capacity in Maldives by 57 percent. The group acquired two islands, Aarah Island in Raa Atoll in 2014 and Raa Fushi in Noonu […]