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“Warak Wati Dewarak Nagi Siti Sinhayan Api” Sri Lanka Cricket launches World Cup theme song
Sri Lanka Cricket, under the auspices of the Ministry of Sports and Hon. Minister Harin Fernando – Minister of Telecommunication, Foreign Employment and Sports, launched “Warak Wati Dewarak Nagi Siti Sinhayan Api”, a song to rally the country behind the team with the essence of ‘ONE TEAM ONE NATION’ as they prepare to participate in […]
Colombo Port container volumes up by 9.1-pct in April 2019
May 26, 2019 (LBO) – Colombo Port’s container volumes indicate a 9.1 percent increase in the month of April compared to the same period last year. Together with the Jaya Container Terminal (JCT), South Asia Gateway Terminal (SAGT) and the Colombo International Container Terminal (CICT), the Port of Colombo’s cumulative volume has been increased by […]
Opinion: The demise of Ranil Wickremesinghe is highly exaggerated
May 25 2019 (LBO) – Over five years ago, residents of Colombo were regularly treated to a political satire based on the character Chaminda Pusswedilla. New editions of play were done on an almost annual basis, regularly attracting audiences that included almost every VIP in the country. Pusswedilla was a character loosely modelled after Sri […]
China quick to relax travel advisory for Sri Lanka
May 25, 2019 (LBO) – China has relaxed its travel advisory to Sri Lanka with language that says: ‘be cautious’ as opposed to language that says ‘do not travel.’ The total number of foreign arrivals from China to Sri Lanka are only behind India ,and have been relatively steady at over 265,000 for the past […]
Sri Lanka disappointed by ill-timed statement from UN Special Advisors: UN Representative
May 24, 2019 (LBO) – Responding to a joint statement issued recently by the UN Special Advisors, Sri Lanka’s Permanent Representative to the UN in New York Ambassador Rohan Perera says that their prejudiced statement only serves to sensationalize issues at a time the government is taking stringent measures to maintain law and order. The […]
Foreign outflow from Sri Lanka government bonds reverses in past week
May 24, 2019 (LBO) – Foreign investors moved back into Sri Lanka government bonds during the past week slightly reversing significant outflows that were experienced in the aftermath of the Easter Sunday terror attacks. Foreign investors were net purchasers of Rs2.1bn (US$12mn) worth of Sri Lanka’s government securities during the past week. This comes on […]
‘s shareholding in JKH nears 10%
May 24, 2019 (LBO) – Harry Jayawardena, perhaps Sri Lanka’s wealthiest man, now controls close to 10% of the outstanding shares in Sri Lanka’s most important company. The latest published shareholder list of John Keells Holdings (JKH) states that Melstacorp PLC is a 9.8% shareholder in the company as of March 31, 2019. Jayawardena controlled […]
Korea Eximbank to conduct feasibility study to establish land information service system
May 24, 2019 (LBO) – Recognizing the importance of efficient land management and its contribution to the economy, the Korea Eximbank is financing a comprehensive feasibility study to establish a Land Data Infrastructure (LDI) and Land Information Service System (LISS) in Sri Lanka as a grant under its technical assistance scheme. The Export-Import Bank of […]
Advocata supports recommendations from experts on restructuring of SriLankan
May 24, 2019 (LBO) – During the ten year period when the management of SriLankan Airlines was under Emirates, the airline enjoyed a decade of profits. This is in stark contrast to the period of 2009-2017, when SriLankan Airlines was under state management, and accumulated losses of Rs. 148,707 mn. The restructuring is critical as […]
Fitch upgrades Union & Cargills Banks; affirms 5 small & mid-sized Sri Lanka banks
May 24, 2019 (LBO) – Fitch Ratings Lanka has upgraded the National Long-Term Ratings of Union Bank of Colombo to ‘BBB-(lka)’ from ‘BB+(lka)’ and of Cargills Bank to ‘A-(lka)’ from ‘BB(lka)’ with stable outlooks. The agency has also affirmed the National Long-Term Ratings of Amana Bank, Nations Trust Bank, Pan Asia Banking Corporation, SANASA Development […]