Author: LBO Admin
Russian Commander-in-Chief of Land Forces arrives in Sri Lanka
Feb 03, 2020 (LBO) – Russian Commander-in-Chief of Land Forces, General of the Army, Oleg Salyukov of Ministry of Defence of the Russian Federation arrived in Sri Lanka today on a five-day goodwill tour at the invitation of his Sri Lankan counterpart, Lieutenant General Shavendra Silva, acting Chief of Defence Staff and Commander of the […]
President orders full probe into allegations over Airbus deal
Feb 03, 2020 (LBO) – President Gotabaya Rajapaksa has ordered a comprehensive investigation into reports of allegations over financial irregularities said to have committed during the deal between SriLankan Airlines and Airbus SE for the purchase of aircrafts. An English language weekly and few websites have published reports describing alleged misdeeds relating to the transaction […]
SriLankan Airlines expresses gratitude to its courageous crew members & staff
Feb 01, 2020 (LBO) – SriLankan Airlines expresses its profound gratitude to its patriotic and loyal staff members who volunteered to operate Flight UL1423, the airline’s mission of mercy that brought back our students from Wuhan, China, on Saturday 1st February 2020. The mission of mercy was carried out on the instruction of the President, […]
Colombo consumer price based inflation increased to 5.4-pct in January
Feb 01, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the Colombo Consumer Price Index increased to 5.4 percent in January 2020 from 4.8 percent in December 2019, Statistics Department data showed. This was driven by the monthly increase of prices of items in both Food and Non-food categories. Food inflation […]
World Bank identifies new areas of cooperation in Sri Lanka
Jan 31, 2020 (LBO) – The World Bank and Sri Lanka has identified several new areas of development cooperation in addition to the World Bank-funded existing projects. They are renewable energy, garbage disposal, watershed management, plantation for export, easing traffic congestion and pedestrian and road safety. This understanding has been reached during a discussion that […]
‘s request for landing special aircraft in Wuhan city
Jan 30, 2020 (LBO) – Foreign Secretary Ravinatha Aryasinha has said the Chinese Government is expediting the request made for a special aircraft landing in Wuhan City which will allow the evacuation of the Sri Lankan students and their family members. He said the Embassy in Beijing is in communication with the Hubei Foreign Office […]
DFCC Bank wins Top Employer award at CIMA annual conference
Consistently winning recognition and rewards for its visionary and progressive HR strategies, DFCC Bank was recognized yet again as one of the ‘Top 20 Employers in Sri Lanka’, employing the highest number of Chartered Institute of Management Accountant (CIMA)Sri Lanka members in their organization. The gala ceremony was held recently as part of the CIMA […]
Central Bank refrains from commenting on contents of forensic audit reports
Jan 30, 2020 (LBO) – Sri Lanka’s Central Bank on Thursday refrained from commenting on the contents of the forensic audit reports as these reports may be subjected to judicial proceedings in the future. Responding to queries by journalists at the monetary policy press briefing, the Deputy Governor of Central Bank Dr. Nandalal Weerasinghe said […]
Manjula de Silva appointed Sec Gen & CEO of Ceylon Chamber of Commerce
Jan 30, 2020 (LBO) – Manjula de Silva will assume duties as the Secretary-General and CEO of the Ceylon Chamber of Commerce, from February 1st, 2020, the chamber announced. He takes over from Dhara Wijayatilake who retires from that position after serving in that capacity since March 2016. De Silva has held several senior positions […]
VIDEO: US Federal Reserve maintains interest rates in first meeting of 2020
Federal Reserve issues FOMC statement Information received since the Federal Open Market Committee met in December indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending has […]
Current trends may lead to undesirable turnaround in market lending rates
Jan 30, 2020 (LBO) – Market lending rates have adjusted downwards, in response to monetary and regulatory measures taken by the Central Bank, but the pace of reduction has decelerated. The Central Bank said the reduction in lending rates thus far, except for the Average Weighted Prime Lending Rate (AWPR), has been less than envisaged. […]