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MCC should not be hurriedly signed before a decisive election: MR
Oct 31, 2019 (LBO) – Sri Lanka’s Opposition Leader Mahinda Rajapaksa says that no agreement should be hurriedly signed with a foreign government just days before a decisive presidential election. The Cabinet this week decided to enter into a pact with the Millennium Challenge Corporation of the United States. Releasing a statement Rajapaksa says that […]
Sri Lanka to operate luxury train coaches to Badulla, North, East & South routes
Oct 31, 2019 (LBO) – Sri Lanka is to operate luxury train coaches to Badulla, Northern, Eastern, and Southern routes considering the demand for such luxury services for tourism. Accordingly, the Cabinet of Ministers has approved a proposal to call competitive bids for the selection of contractors for this operation for five years. Cabinet approval […]
ICRA Lanka reaffirms the [SL]A+ long term ratings of Access Engineering PLC
Rating action ICRA Lanka Limited, Subsidiary of ICRA Limited, Group Company of Moody’s Investors Service has reaffirmed the Issuer rating of [SL]A+ (pronounced S L A plus1) with Stable outlook for Access Engineering PLC (“AEL”/ “the Company”). ICRA Lanka has also reaffirmed the Issue Rating of [SL]A+(pronounced S L A plus) with Stable outlook for […]
Opinion: Are apartment developers moving to suburbs?
LankaPropertyWeb’s (LPW) With Colombo city turning into a business hub more than a residential area, recent studies of LankaPropertyWeb (LPW) show that apartment developers are now exploring the suburbs to cater to the growing interest for vertical living amongst the locals. The numerous developments taking place in the main city resulting in diminishing space amongst […]
Teejay’s 6-month net profit up 75-pct to Rs.1.24Bn
Oct 31, 2019 (LBO) – Textile manufacturer Teejay Lanka PLC has announced top and bottom line growth in the first half of 2019-20, with investments in expansion and internal measures continuing to generate anticipated improvements to net profit margins and other key performance indicators. Noteworthy revenue and profit improvements in the second quarter of the […]
StudyAdelaide announces 2020 Brand Ambassador competition in Sri Lanka
StudyAdelaide, an agency of the Government of South Australia to promote Adelaide as an international study destination has launched an Ambassador competition for students in Sri Lanka for the first time. The competition offers an opportunity for student to become ambassadors of Adelaide, as well as an education and lifestyle experiential tour of Adelaide. The […]
”s time, UNP needs Ranil more than ever
October 30, 2019 (LBO) – Nandasena Gotabaya Rajapaksa appears to be the man of the moment. The 70 year old former Lieutenant Colonel in the Sri Lanka Army, turned American, returned as Defence Secretary is likely just weeks away from taking oaths and assuming office as the President of Sri Lanka. His journey to Sri […]
Ceylon Chamber advocates 12 focus areas to accelerate economic growth
Oct 30, 2019 (LBO) – The Ceylon Chamber of Commerce has identified twelve (12) areas as priority areas for Sri Lanka’s economic development in the 2020-25 period. The chamber launched the working draft of the Sri Lanka Economic Acceleration Framework (SEAF) 2020-25 on 17 September 2019 with the aim of identifying key areas for the […]
ComBank enables Dynamic Currency Conversion at ATMs for foreign Visa Cards
The Commercial Bank of Ceylon has extended its ‘Dynamic Currency Conversion’ (DCC) feature to foreign Visa card holders using the Bank’s ATMs in Sri Lanka, enhancing transparency in the cash withdrawal process for travellers. Commercial Bank is the only bank to offer this service in Sri Lanka to Visa card holders travelling to the country. […]
‘s Debt Crisis is more serious than you imagine
Context A Team of Leading Economists/Analysts in January 2019 alerted the Leaders in Governance that it is likely that the ballooning external debt commitment will lead to a sovereign bond default unless drastic and sustainable actions are taken to: Overcome the culture of running high fiscal deficits indulging in extravagant, conspicuous and unproductive investments/imports and spends. Rapidly […]