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Colombo Port handles record breaking 7-millionth container for 2018
Dec 31, 2018 (LBO) – Colombo Port on Monday handled its seven millionth container (TEU) at the Jaya Container Terminal of Sri Lanka Ports Authority with joint marketing strategies carried out by three terminals, JCT, SAGT, and CICT. The function was graced by new Ports Minister Sagala Rathnayake with the participation of the Secretary of […]
R H S Samaratunga assumes duties as Secretary to Treasury, Finance & Media
Dr. R.H.S. Samaratunga who has been reappointed as the Secretary to the Treasury, Ministry of Finance and Mass Media assumed duties at the Finance Ministry today morning.Deputy Secretary to Treasury A.R. Desapriya, Additional Secretary R Semasinghe and senior officials of the Treasury and the Ministry of Finance were present on the occasion.
CICT ends 2018 with 2.65mn TEUs, 38-pct of Colombo Port’s volume
Dec 31, 2018 (LBO) – Colombo International Container Terminals (CICT) has reported handling 2.65 million teus for the 12 months ending 31st December 2018, recording a 13 percent increase in its annual throughput and contributing 38 percent of the Port of Colombo’s volumes in the year just concluded. A significant factor in the achievement of 7 […]
First Capital increases equity exposure as global funds reversing towards Asia
Dec 28, 2018 (LBO) – First Capital Research has upgraded its equity exposure to 60 percent with the belief that the events that have unfolded globally may benefit Sri Lanka and the equity market over the next few months positively impacting earnings and possibly leading to net foreign inflows. Over the last 3 months, they […]
Opinion: Revolution 4.0 – An intriguing case of the man and machine
By Taamara de Silva “The changes are so profound that, from the perspective of human history, there has never been a time of greater promise or potential peril.” – Klaus Schwab, Founder and Executive Chairman of the World Economic Forum We sway on the cusp of a technological revolution that will forever reconstruct the very fabric […]
Sri Lanka Central Bank maintains policy interest rates at current levels
Dec 28, 2018 (LBO) – Monetary Board of the Central Bank has decided to maintain policy interest rates at their current levels with the broad aim of stabilizing inflation at mid-single-digit levels in the medium term to enable the economy to achieve its potential growth. Accordingly, the Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate […]
Laugfs Gas to infuse Rs1.1bn for expansion of its LPG Transshipment Terminal
Dec 27, 2018 (LBO) – Laugfs Gas will infuse 1,150 million rupees for the expansion of its LPG Transshipment Terminal facility located at Hambantota International Port, the company said in a stock exchange filing. Under the expansion plan, the storage capacity of the terminal to be extended up to 45,000 MT from 30,000 MT supporting […]
Sri Lanka Army leads flood relief work in the North
Dec 27, 2018 (LBO) – Sri Lanka Army have rescued a number of people stranded due to the prevailing adverse weather condition in the Kilinochchi and Mullaitivu districts that experienced a heavy rainfall resulting in flooding. Army troops have commenced providing immediate rescue and relief assistance, evacuation and relocation, medical assistance, cooked meals and other […]
‘s Ken Hu expresses confidence in business
Dec 28, 2018 (LBO) – Huawei rotating Chairman Ken Hu issued a strong message of confidence in Huawei’s business growth and prospects, citing the trust of hundreds of network operators, nearly half of the world’s Fortune 500 companies, and hundreds of millions of consumers. Huawei’s 2018 revenue, he said, was expected to exceed US$100 billion. He was […]
Harsha assumes duties as Minister of Economic Reform
Dec 26, 2018 (LBO) – Sri Lanka’s former deputy Minister of National Policies and Economic Affairs assumed duties as Minister of Economic Reform and Public Distribution, Tuesday. (Edited)