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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 […]
Mobitel introduces latest Apple iPad 2 and watch
As the authorized reseller for apple devices ranging from iPhones, iPads, Apple watches, Mobitel is introducing the next generation Apple iPads and Apple Watch Series 5 to the local market. Further consolidating its position as the preferred and trusted partner for apple devices. Customers can now purchase their favorite iPads and Watches at selected Mobitel […]
Commercial Bank profits marginally up in December quarter
Feb 24, 2020 (LBO) – Sri Lanka’s Commercial Bank group reported a net profit of 5.9 billion rupees showing a marginal improvement of equity holder’s profit of the bank in the December quarter. The group’s gross income for the quarter showed a marginal decrease of 0.29 percent against the previous year and a decrease in […]
For Sec Aryasinha meets Human Rights Council President in Geneva
Feb 24, 2020 (LBO) – Ahead of the upcoming 43rd Session of the Human Rights Council (HRC) scheduled to commence next Monday (24 February), Foreign Secretary Ravinatha Aryasinha briefed the President of the HRC Ambassador Elisabeth Tichy-Fisslberger on the decision of the Government of Sri Lanka to withdraw its co-sponsorship of Resolution 40/1 of March […]