Author: LBO Admin
UK and Sri Lanka sign bilateral debt restructuring agreement reached in June 2024
• Bilateral debt agreement between the UK and Sri Lanka establishes terms reached between Sri Lanka and Official Creditor Committee in June 2024. • Agreement allows Sri Lanka to resume interest payments, with a grace period to repay the main debt amount until 2028 British High Commissioner Andrew Patrick and Sri Lanka’s Secretary to the […]
Colombo Fort Magistrate’s Court Remands Ex-President Ranil Wickremesinghe Until August 26
Former Sri Lankan President Ranil Wickremesinghe has been arrested on charges of misusing public funds, according to police. The arrest is in connection with a private overseas trip he made abroad during his tenure as president. The Criminal Investigations Department (CID) took Wickremesinghe into custody after he provided a statement to them earlier today. He […]
Ambeon Strengthens Portfolio Through Strategic Hospitality Investments
Strengthens growth strategy through equity stakes in Iconic Sri Lankan hotel companies – The Kandy Hotels Company PLC and The Ceylon Hotels Corporation PLC Ambeon Group, one of Sri Lanka’s leading diversified conglomerates, today announced its strategic entry into the hospitality sector with strategic equity investments in two listed hotel companies, reinforcing its confidence in […]
Committee to probe irregularities at AASL & SriLankan Airlines invites public input
The Presidential Special Investigation Committee, established to probe into past fraud, corruption and malpractices at Airport and Aviation Services (Sri Lanka) (Private) Limited and SriLankan Airlines, invites complaints, views, and proposals from the public. In accordance with Cabinet Decision No. 25/1145/801/018 dated July 1, 2025, based on the Cabinet Memorandum submitted by President Anura Kumara […]
New Zealand High Commissioner Explores Opportunities at Hambantota International Port
New Zealand High Commissioner to Sri Lanka, David Gregory Pine, visited the Hambantota International Port (HIP) on August 11, 2025, to gain firsthand knowledge on its development and growing international relevance. Accompanying him was Rasika Sumudhu Jayasinghe, Policy Adviser at the High Commission. The delegation was taken on a tour of HIP’s state-of-the-art facilities and […]
EDB-JICA Partnership Extended to Boost Sri Lanka’s ICT/BPM Growth in Japanese Market
Sri Lanka Export Development Board (EDB) and the Japan International Cooperation Agency (JICA) have established a strategic partnership to strengthen the Sri Lankan ICT/BPM sector within the Japanese market. Started in 2024, this initiative supports 30 Sri Lankan SME ICT/BPM companies and startups over a period of two years by providing market intelligence, business coaching, […]
| Why 95-pct of GenAI Projects Are Failing
Artificial Intelligence was supposed to be capitalism’s golden goose — rewriting emails, reinventing customer service, and reshaping entire economies. But a new MIT study says 95% of enterprise AI pilots fail to deliver meaningful revenue. Instead of breakthroughs, most companies end up with expensive dashboards and endless beta tests. T he hype cycle feels eerily […]
Ceylon Chamber Highlights Opportunities in UK’s Enhanced Trade Scheme
The Ceylon Chamber of Commerce welcomes the UK Government’s liberalisation of rules of origin under its Developing Countries Trading Scheme (DCTS), set to take effect in early 2026. This important step reflects the UK’s continued commitment to greater trade openness and flexibility, offering Sri Lankan exporters enhanced access to one of their key markets. The […]
Stallion Consultancy Takes Over ACAP Stockbrokers in Strategic Market Play
Stallion Consultancy (Private) Limited has swooped in to acquire ACAP Stockbrokers (Private) Limited from Asia Capital PLC, marking a strategic power play that promises to reshape Sri Lanka’s stock brokerage landscape through a complete rebrand and fresh market positioning. The acquisition brings heavyweight leadership credentials to the table, with Stefan Abeyesinhe stepping in as Chairman, […]
Fitch Ratings: Developed Economies’ Potential Growth Revised Up to 1.6-pct
Fitch Ratings has updated its five-year projections for supply-side potential GDP growth for the 10 developed economies (‘DM10’) covered in its Global Economic Outlook. The GDP-weighted average DM10 potential growth projection has been raised to 1.6% a year from 1.4% in the previous report in August 2023. This reflects more optimistic projections for the US, revised […]
Opinion: Not Too Late for a Winning Bet – The Need to Redraft the Gambling Bill
By Sudaraka Ariyaratne After weeks of discussion, the Committee on Public Finance approved the Gambling Regulatory Authority (GRA) Bill last Wednesday. While the Bill faces its second reading in Parliament this Tuesday, its many deficiencies remain—helping create a regulator not worth its salt. Gaming encompasses both gambling—games of pure chance like casinos and lotteries—and betting, […]
Sunshine Holdings marks successful completion of ‘Smart Life Challenge’
Diversified conglomerate Sunshine Holdings (CSE: SUN) successfully concluded Phase 01 of the ‘Smart Life Challenge’, a three-month employee wellness programme designed to encourage sustainable lifestyle improvements among its workforce. Initiated and led by the Group’s HR team, this programme focused on fostering healthier habits, enhancing physical and mental well-being, and strengthening team spirit across all […]