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Sri Lanka’s Finance ministry to fund halted projects in Colombo
June 5, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake yesterday said that the government will allocate 1,296 million rupees for 390 projects in the Colombo District which were halted due to lack of funding.“These projects should have been completed last year.But the government has not given funds,” Karunanayake told LBO. “So now we […]
Sri Lanka State Sector Workers Need Training To Improve Efficiency: Eran
June 5, 2015 (LBO) – Sri Lanka’s state sector employees need training to provide a more efficient and professional service to the public, which will be a top priority of the government, Deputy Minister of Highways, Higher Education and Investment Promotion, Eran Wickramaratne told LBO.“Sri Lanka expects a highly professional and efficient public service. So […]
‘s Litro has no plans to increase gas prices; Says no shortage
Jun 05, 2015 (LBO) – Sri Lanka’s Litro Gas Lanka, the largest importer and supplier of Liquid Petroleum Gas (LPG) in the Island, says that there will be no immediate price revision by the company and there is no gas shortage in Sri Lanka. “There are no plans to increase the price of gas in […]
Lanka Rating Agency Restrained By SEC from providing new ratings
June 4, 2015 (LBO) -The Securities & Exchange Commission of Sri Lanka (SEC) has taken steps to restrain Lanka Rating Agency Ltd from providing new ratings with effect from 25th March 2015 until the company complies with regulatory requirements imposed by the Commission, the security watch dog said in a statement today. “The Commission took […]
Cycling Culture Can Help Cure Sri Lanka’s Road Congestion: Min Ranawaka
Jun 04, 2015 (LBO) – Cycling can help reducing the congestion on Sri Lanka urban roads and conserve energy, Minister of Power and Energy said. “A vehicle needs to travel at 60-70 km/h to be fuel economical, this was possible in the 1980’s in Colombo, but now it has become 8 km/h and in the […]
Stocks Close Down 0.4-pct; Political Uncertainty Keeps Investors Away
Jun 04, 2015 (LBO) – Sri Lanka’s stocks closed down for a fourth consecutive day with the country’s political uncertainty affecting investor confidence, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 28.55 points lower at 7,120.91 down 0.4 percent. The S&P SL20 closed 15. 48 points lower at 3,945.54 down 0.39 percent. […]
‘s Nawaloka Hospital Enters Elder Care Service Business
EJune 4, 2015 (LBO) – Sri Lanka’s Nawaloka Medical Centre (Pvt) Ltd, a subsidiary of Nawaloka Hospital signed a memorandum of understanding with Harmony and Fusion International Pvt Ltd to put up elder care service business.The joint venture will carry out the service under Nawaloka Guardina International (Pvt) Ltd, in which Nawaloka Medical Centre (Pvt) […]
‘s Rs5bn Debt Issue Oversubscribed
June 4, 2015 (LBO) – Sri Lanka’s DFCC Vardhana Bank said, that it issued five billion subordinated and senior unsecured listed redeemable rated 5-year listed debt in order to raise 5 billion rupee funds to utilize for on-going lending activities of the bank.The “Type A”, senior, unsecured, listed, redeemable, rated five year (2015/2020) debentures was […]
Colombo, Fastest Growing City For MasterCard Tourism Index
June 4, 2015 (LBO) – Sri Lanka’s commercial capital – Colombo leads the pack as the fastest growing city in terms of international, overnight visitor numbers in the annual MasterCard Global Destinations Cities Index, a release said.“Colombo’s ranking as the fastest growing city on MasterCard’s latest Global Destination Cities Index reflects the rising appeal of […]
Ornamental Fish Exports +17% in 2014; Highest ROI In Export Sector
Jun 04, 2015 (LBO) – Sri Lanka’s ornamental fish exports has grown 17 percent in 2014 with the sector showing the highest return on investment in the country’s exports, a senior official said in a statement.“The ornamental fish sector has a great promise for exports growth,” Bandula Egodage, Chairman, Export Development Board said in a […]