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Sri Lanka to resume Iran oil imports; USD251mn oil debt to Iran
July 25, 2016 (LBO) – Sri Lanka is planning to resume oil imports from Iran following the removal of anti-Tehran sanctions, Iran’s petroenergy information network reported. The network said following a meeting with Iranian Petroleum Minister in his Tehran office on Sunday, Sri Lanka’s Petroleum Minister Chandima Weerakkody has expressed hope that Colombo will resume […]
Sri Lanka’s NDB cancels EGM on concerns over required votes
July 25, 2016 (LBO) – Sri Lanka’s National Development Bank has cancelled its scheduled extraordinary general meeting on fears that it may not obtain the required number of votes at the meeting. The scheduled EGM was convened by the Directors of NDB for the purpose of obtaining approval of the shareholders to amend Articles 36 […]
”s Holcim for USD400 Mln
July 25, 2016 (LBO) – Thailand’s Siam City Cement Public Company Limited will proceed with an acquisition of 98.95 percent shares in Holcim (Lanka) Limited, including its subsidiaries from cement giant LafargeHolcim. LafargeHolcim said in a statement that the enterprise value of sale was 400 million dollars. In a Thailand Stock Exchange filing, Siam City […]
MR’s statement on Missing Persons Office, a blatant attack on rule of law: AHRC
(Asian Human Rights Commission) – The statement made by Mr. Mahinda Rajapaksa the former head of state in Sri Lanka, that ‘establishing the office of the Missing Persons is a betrayal of the armed forces’ is a statement unbecoming of a former head of the state and a prominent political leader in Sri Lanka. What it […]
Sri Lanka Mackwoods Chairman responds to SEC’s directive
July 23, 2016 (LBO) – Chairman of Mackwoods Plantations Pvt Ltd, Dr Chrishantha Nonis, says the sale of 60.8 percent shares of Agalawatte Plantations PLC was carried out with due authorization and instructions being issued to the stock broker. On 14th of July, Browns Power Holdings (Private) Limited purchased 15,200,000 ordinary shares, or 60.3 percent, […]
IFC helps Sampath Bank to provide trade financing for Sri Lankan exporters
IFC, a member of the World Bank Group, is partnering with Sampath Bank PLC to provide trade financing for Sri Lankan exporters to help them access global markets and boost the country’s trade. IFC will support the bank’s trade-finance business by partially or fully guaranteeing the payment risks of its clients. IFC’s Global Trade-Finance Program […]
Opinion: Sri Lanka Dept Of Immigration And Emigration Is A National Disgrace
By Lancelot Being a Sri Lankan who has lived abroad, I have made several dozen trips to the Department of Immigration and Emigration over the past decade. I have been to the department for Passports, Visas, Dual Citizenship, and to help a friend navigate the process once or twice. A few days ago, I did […]
Sri Lanka needs more loans to face transitional period: PM
July 22, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said the government needs some more loans from countries like China, Japan and India to keep macro economic stability in the country. In an interview with Channel NewsAsia, Prime Minister said the recent 1.5 billion US dollar IMF loan is a major measure taken […]
Navy ship USS New Orleans to visit Sri Lanka this week
The USS New Orleans (LPD 18) with embarked 13th Marine Expeditionary Unit (MEU) will arrive in Sri Lanka for a port visit on July 24. The ship and embarked MEU are in Sri Lanka to increase bilateral ties with the Sri Lankan Navy and provide U.S. support and training for humanitarian assistance and disaster relief. […]
Access Engineering net up 5.1 pct, IPO for SML Frontier planned
July 22, 2016 (LBO) – Sri Lanka’s Access Engineering said group net profits grew 5.1 percent to 2.46 billion rupees in the year to March 2016, with the civil engineering firm facing a slow down in the global and local economy. The company showed a better performance with a 19.1 percent growth in net profits […]