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President signs USD455mn loan agreements with ADB for education, transport
Jan 17, 2019 (LBO) – Sri Lanka’s President Maithripala Sirisena made his first visit to the Asian Development Bank headquarters today while conducting a state visit to the Philippines and met with ADB President Takehiko Nakao. During the visit, Sirisena and Nakao have discussed development challenges faced by Sri Lanka and ADB’s role in helping address […]
President appoints commission of inquiry to probe corruption from 2015 – 2018
Jan 17, 2019 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed a commission of inquiry to look into the alleged corruption cases and malpractices reported from 15 January 2015 to 31 December 2018. The 5-member Presidential Commission is headed by retired Supreme Court judge Upali Abeyrathne. President Sirisena last year said a Presidential Commission […]
Huawei CEO expects revenue to touch USD125Bn in 2019: 100Bn for R and D 5 years
(PRESS RELEASE) Ren Zhengfei, CEO and Founder of Huawei, recently said that 2019 could be a difficult year for Huawei, and however the company, is targeting US $ 125 billion in revenue for the whole year. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one of the rotating chairmen at […]
British PM Theresa May survives no-confidence vote; Brexit talks to go ahead
Jan 17, 2019 (LBO) – British Prime Minister Theresa May survived a no-confidence vote on Wednesday, a day after Parliament voted against the Brexit deal she negotiated with the European Union. After narrowly escaping a defeat with 325-306 margin, the Prime Minister invited all opposition leaders for Brexit talks and said it is now time […]
Sri Lanka enters into five MOUs with Philippines
Jan 17, 2019 (LBO) – Sri Lanka and Philippines signed five Memorandum of Understanding (MOUs) on education, tourism, agricultural and economic corporation.Further strengthening the bilateral relations between the two nations the agreements come with President Maithripala Sirisena’s ongoing four-day state visit to the Philippines.The President arrived in Philippines on 15 January for a five-day State visit following an […]
Ailing rupee and price controls may lead to a shortage of milk powder: Advocata
Jan 17, 2019 (LBO) – A cup of tea is every Sri Lankan’s morning mantra. This might not be the case much longer as Sri Lanka may face a shortage of milk powder as several leading milk powder importers are reported to have taken a collective decision to suspend imports. The recent depreciation of the rupee […]
JKH buyback fully subscribed, Rs11bn worth of shares to be repurchased at 160
January 16, 2019 (LBO) – Shareholders have tendered approximately one hundred million shares of John Keells Holdings (JKH) into the company’s latest buyback offer. The company will purchase approximately seventy million of the shares tendered at a price of Rs160/share, constituting 5% of the total outstanding shares of the company. JKH will expend Rs11 billion […]
Central Bank subscribes to Rs.90bn Treasury bills to assist govt financing
Jan 16, 2019 (LBO) – Central Bank says it subscribed to Treasury bills amounting to 90 billion rupees during this month at the request of the Treasury to assist financing needs of the government.The bank said there is a delay in receiving expected foreign currency financing arrangements as envisaged in the Treasury’s cash flow for the month […]
‘s 2019 Business Plan Competition
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), is now accepting applications from schools across the country for the 2019 Business Plan Competition, which has built a reputation as an important platform to nurture entrepreneurial skills among the student population. The competition is open to students sitting for the local GCE Advanced […]
Theresa May to face no confidence vote after parliament voted against Brexit deal
Jan 16, 2019 (LBO) – British Prime Minister Theresa May will face a no-confidence vote after her Brexit deal suffered a heavy defeat in parliament yesterday. After parliament voted 432-202 against the deal marking the worst defeat in modern British history, opposition Labour Party leader Jeremy Corbyn called a vote of no confidence in the […]