All Blogs
Opinion: Central Bank intervention likely to exacerbate foreign selling of Sri Lanka bonds
September 29, 2018 (LBO) – The main subject of discussion on the Colombo cocktail circuit has been the Sri Lanka Rupee (LKR) and its significant recent weakness against the U.S. dollar (USD). The LKR seems to have halted its slide, hovering just under Rs170 to the dollar. This recent price stability in the LKR is […]
MTD Walkers (KAPI) restructures debentures due September 30th, changes auditors
September 28, 2018 (LBO) – In Colombo Stock Exchange (CSE) filings filings released today, listed construction company MTD Walkers (KAPI), announced a restructuring of maturing debentures, change of auditor, and 2 directors deciding not to stand for re-election. Prominent directors Niranjan Deva Aditya and Albert Rasiah have decided not to stand for re-election at the […]
Construction work of Sri Lanka’s first LNG power plant to begin next month
Sept 28, 2018 (LBO) – Construction work of Sri Lanka’s first liquified natural gas (LNG) fuelled power plant will be commenced in Hambantota next month. As per the Memorandum of Understanding signed between Sri Lanka and China, this will be a joint venture between the Chinese government and the Ceylon Electricity Board. This LNG power […]
IMF staff mission concludes visit to Sri Lanka; stresses on reforms
Sept 28, 2018 (LBO) – Authorities should accelerate reforms to strengthen the Sri Lankan economy’s resilience to domestic and external shocks, given still significant vulnerabilities, concluding a recent visit, an IMF staff mission said. The IMF staff mission led by Manuela Goretti said the authorities should sustain reform efforts to support trade, investment, and inclusive […]
SEC charges Elon Musk with securities fraud for misleading tweets about Tesla
Sept 28, 2018 (LBO) – The United States Securities and Exchange Commission (SEC) today charged Elon Musk with securities fraud for a series of misleading tweets about a potential transaction to take Tesla private. The Chairman and CEO of Silicon Valley-based Tesla, on August 7 tweeted to his 22 million Twitter followers that he could […]
ADB provides USD300Mn for elevated highway
Sept 28, 2018 (LBO) – The Asian Development Bank’s (ADB) has approved a US 300 million dollar loan to help in the construction of about 5.3 kilometers (km) of elevated toll highway with related facilities between the New Kelani Bridge (NKB) and Galle Face in central Colombo in Sri Lanka. The new highway is expected […]
Sri Lanka launches first social impact funds to support social entrepreneurs
Sept 27, 2018 (LBO) – Two Memoranda of Understanding were signed today in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development.The signings were witnessed by Foreign Minister Tilak Marapana and Achim Steiner, UNDP Administrator, at a special […]
Sri Lanka’s online travel company findmyfare raises USD2mn funding
findmyfare.com Sri Lanka’s largest and fastest growing online travel company, is flying high with the recent news of their raising series B funding from Ironwood Capital Partners. The company serves as a one-stop travel shop, offering its customers the very best deals available in the market place on hotel stays across Sri Lanka and flights […]
US BUILD act passes House; aims to counter China’s debt-trap diplomacy
Sept 27, 2018 (LBO) – United States House of Representatives have approved the inclusion of the Better Utilization of Investments Leading to Development (BUILD) Act in the FAA Reauthorization Act of 2018.The House yesterday passed the Act by a vote of 398-23 and the legislation now heads to the Senate for consideration. BUILD Act is […]
Shareholders of Morison reject resolution to delist from CSE
Sept 27, 2018 (LBO) – Morison PLC said in a stock exchange filing that their resolution to delist the company from the Colombo Stock Exchange was not adopted by the shareholders at the EGM.Morison PLC last month proposed to delist ordinary voting shares and ordinary non-voting shares of the company from the official list of […]