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FM will formally inform decision of govt. to withdraw co-sponsorship of resolution
Feb 26, 2020 (LBO) – Minister of Foreign Relations, Skills Development, Employment and Labour Relations, Dinesh Gunawardena who leads the Sri Lanka delegation to the 43rd Session of the Human Rights Council is scheduled to address the High Level Segment of the Human Rights Council (HRC), Wednesday. He will formally inform the Council Members of the […]
HNB clinches top spot on Business Today rankings
HNB PLC secured the No. 1 ranking on the prestigious ‘Business Today Top 30’, further consolidating on a remarkable reputation for excellence and a legacy of innovation in the Sri Lankan banking industry. The award was presented to HNB Chairman, Dinesh Weerakkody and HNB Managing Director/CEO, Jonathan Alles by Chief Guest at the Business Today […]
SLTB deploys 16 luxury buses to operate Hambantota – Colombo expressway
Feb 25, 2020 (LBO) – Sri Lanka Transport Board (SLTB) has deployed 16 luxury buses to operate along the Hambantota – Colombo expressway. The deployment of buses took place this morning at the Hambantota bus stand with the participation of the Transport Minister Mahinda Amaraweera. These buses are to be operated on the expressway from […]
Ford Foundation partners with Lankan Angel Network to grow startup ecosystem
Feb 25, 2020 (LBO) – The Lankan Angel Network (LAN) today announced that it has signed a landmark grant agreement with the Ford Foundation to catalyze the growth of Sri Lanka’s startup ecosystem. The grant of USD 300,000 is the first of its kind for the Ford Foundation in Sri Lanka and will be utilized […]
New ADB head pledges to support development in public and private sectors
Feb 25, 2020 (LBO) – The new Asian Development Bank (ADB) Country Director in Sri Lanka, Chen Chen, assumed office in Colombo Monday. “I am honored to assume the role of Country Director at ADB’s Sri Lanka Resident Mission. I have had the opportunity of managing ADB’s transport sector portfolio in Sri Lanka in the […]
Sri Lanka headline inflation increased in January
Feb 24, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has increased to 7.6 percent in January from 6.2 percent in December, the statistics office said. This was driven by the monthly increase in prices of items in both Food and Non-food categories. Food […]
Central Bank to introduce cost-reflective benchmark interest rate instead of SLIBOR
Feb 24, 2020 (LBO) – The Monetary Board of Sri Lanka’s Central Bank has decided to discontinue the compilation of SLIBOR with effect from 01 July 2020. The Central Bank will continue to publish SLIBOR based on offered rates submitted by LCBs until 30 June 2020, in order to prevent inconvenience to any participant in […]
Seylan Bank closes 2019 with Rs3.68Bn profit; crosses Rs500Bn in total assets
In the backdrop of challenging external environment, Seylan Bank recorded a profit after tax of Rs.3.68 Bn for the year ended 31st December 2019. Successful and oversubscribed Rights Issue made during the last quarter for LKR 4.30 Bn which followed a similarly successful debenture issue earlier in the year endorsed and demonstrated the confidence placed […]
SLPA signs consultancy deal to conduct feasibility for Colombo North Port
Feb 24, 2020 (LBO) – Sri Lanka Ports Authority (SLPA) has signed the consultancy service agreement to conduct a feasibility study for the proposed Colombo North Port development project. SLPA said in a statement that they have signed the agreement with AECOM Infrastructure & Environment UK Limited on 20 February 2020. SLPA needs a long […]
Security structure of APAC cannot be duplicated in Indian Ocean: RW tells India
Feb 24, 2020 (LBO) – The security structure of the Asia Pacific cannot be duplicated in the Indian Ocean as the region has avoided such alliances, unlike the Asia Pacific whose security structure has been based on military alliances, former Premier said. Speaking at the 4th edition of ‘The Huddle’ organised by The Hindu in […]