All Blogs
ICICI Bank & Axis Bank to close down business operations in Sri Lanka
Dec 31, 2019 (LBO) – Sri Lanka’s Central Bank has permitted Axis Bank Ltd and ICICI Bank Ltd to close down their business operations in Sri Lanka, subject to certain conditions, at the request of their parent banks. Accordingly, these two banks are currently not permitted to carry on banking business, including accepting deposits from […]
Plastics & Rubber Institute signs MOU with Institute in Singapore
The Plastics and Rubber Institute of Sri Lanka has signed an MOU with the Plastics and Rubber Institute of Singapore. This was announced by the President of the PRISL, Kaushal Rajapaksa at the Institute’s Annual Awards Night held recently at the Taj Samudra Hotel. Hon. Deshamanya Karu Jayasuriya, Speaker of the Parliament of Sri Lanka […]
President to explore possibility of gathering personal info under one data center
President Gotabaya Rajapaksa has paid his attention to bring all personal information such as National Identity Cards, driving licenses, immigration and emigration documents, registration of births and deaths under one data collection center. This will be instrumental in reducing time, effort and money spent on such services at present said President Rajapaksa during a discussion […]
Weekly AWPR declines to single-digit levels after April 2016: Central Bank
Dec 30, 2019 (LBO) – Sri Lanka’s Central Bank says that the weekly Average Weighted Prime Lending Rate (AWPR) has declined to single-digit levels by 27 December 2019, the first time since 29 April 2016. According to the Central Bank, the overall weekly AWPR has declined by 230 basis points from 12.24 percent as at […]
Singapore’s Perennial to launch USD250mn mixed development project in Sri Lanka
Dec 29, 2019 (LBO) – Integrated real estate and healthcare company headquartered and listed in Singapore, Perennial Real Estate Holdings Limited is to launch a 250 million dollar mixed development project in Sri Lanka shortly. This foreign investment project will see the construction of a 30-storey commercial tower inclusive of 700 new residencies and have […]
Business Excellence program
A training on Business Excellence will be conducted at the Mövenpick Hotel on the 10th of January 2020. The session will cover the areas of time management, good governance, work place ethics, workplace communications – all aimed at creating cohesive teams to increase the productivity in the organization. The session will be conducted by Nirmalan […]
First Capital Research trims down its rate cut probability to 50-pct
Dec 24, 2019 (LBO) – Considering the recent major policy changes, First Capital Research has trimmed down its rate cut probability to 50 percent from the previous expectation of 100 percent probability, specifically due to the tax benefits, moratorium on loans and easing of capital adequacy to stimulate the consumer demand and revive growth in […]
Canada supports women’s rights organizations in Sri Lanka
Dec 24, 2019 (LBO) – The High Commission of Canada to Sri Lanka together with the Asia Foundation launched their flagship development initiative in Sri Lanka named ‘Women’s Voice and Leadership’ (WVL). This launch took place on December 17, 2019, at the official residence of the Canadian High Commissioner with over seventy participants representing other […]
‘s Central Bank
Dec 24, 2019 (LBO) – Professor W D Lakshman has been appointed as the new Governor of Central Bank of Sri Lanka. An official at the Central Bank told LBO that he assumed duties as the Governor of Central Bank today morning. Deshamanya Weligamage Don Lakshman commonly known as W D Lakshman is a Sri […]
New Chairman appointed to Lanka Electricity Company
Dec 24, 2019 (LBO) – Sri Lanka’s Power and Energy Minister Mahinda Amaraweera has appointed Attorney-at-Law Athula Priyadharshana De Silva as the new Chairman of Lanka Electricity Company (LECO). LECO has generated a revenue of over 3,000 million rupees this year and it has around 500,000 customers and over 1,500 employees. After taking over as […]