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Sri Lanka’s Cabinet approves 20th Amendment:Decides to proceed with 225 MP legislature
Jun 09, 2015 (LBO) – Sri Lanka’s Cabinet granted approval for the 20th Amendment to the constitution last night, a media report said.The 20th amendment to the Constitution proposes scrapping the preferential voting system with each polling division electing at least one lawmaker, increasing the size of the assembly to reflect the increase in population […]
Sri Lanka to call international bids for gas exploration in October: Minister
Jun 09, 2015 (LBO) – Power and Energy Minister says a fresh round of international tenders will be called in October 2015 in order to expedite the gas resources exploration process in the Mannar basin.“In October we will call for international tenders to explore the gas deposits in the country,” Power and Energy Minister Champika […]
Mihin Lanka to expand operations to Kolkata
June 09, 2015 (LBO) – Sri Lanka’s budget carrier Mihin Lanka will expand its operations to Kolkata, India with effect from 15 June 2015, Mihin Lanka said in a statement. Kolkata is the capital of the Indian state of West Bengal and is the commercial, cultural and educational centre of East India. The airline introduced […]
Building costs in Sri Lanka higher than other countries in region
Jun 08, 2015 (LBO) – Head of Sri Lanka’s Chamber of Construction Industry says building cost in the Island is higher than in some of the other Countries in the region and lacks a skilled work force.“There are concerns among the investors and developers, that the construction cost in Sri Lanka is higher than in […]
Sri Lanka stocks close down 0.6-pct; JKH reaches 52 week low
Jun 08, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.62 percent with losses in index heavy and banking stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 44.07 points lower at 7,078.66 down 0.62 percent. The S&P SL20 closed 39.35 points lower at 3,924.33 down 0.99 percent. Turnover was 659 […]
‘s President appoints acting Chief Justice
June 08, 2015 (LBO) – Supreme Court Judge Chandra Ekanayake was sworn in as the Acting Chief Justice before President Maithripala Sirisena Monday morning (June 8) at the Presidential Secretariat.The President made this appointment as the Chief Justice K.Sri Pavan is abroad. Chandra Ekanayake was appointed as a Justice of the Supreme Court of Sri […]
Sri Lanka’s NDB to issue debenture
June 08, 2015 (LBO) – Sri Lanka’s National Development Bank says it will issue 75,000,000 debt with room to offer further.The company said that it will issue 75,000,00 rated , unsecured, subordinated, redeemable debentures with an option to issue up to a further 25,000,000 debentures at the discretion of the bank in the event of […]
Asian debt markets quadruples over the past seven years: HSBC Official
June 08, 2015 (LBO) – Asian debt capital markets have quadrupled over the past seven years and growth momentum will continue in the years to come, a HSBC official said.“It would be incorrect to say that debt market can’t grow at a frantic pace,” Kartik N, Director Debt Capital Markets of Asia Pacific at HSBC […]
Lalkantha meets Sampur residents
JVP politburo member KD Lalkantha visited Muttur and Sampur areas recently.He has discussed the problems that resulted from coal power. “Sampur coal power plant must be considered again” Lalkantha said.