Author: LBO Admin
Debt moratorium for SMEs, credit negative for banks, unlikely to support economic recovery
Jan 20, 2020 (LBO) – Sri Lanka’s debt moratorium for SMEs is credit negative for Sri Lankan banks and the sovereign because it risks increasing SMEs’ risk appetite and relaxing their attitude toward debt repayments, Moody’s Investors Service said. In an analysis, the service said that this move, in turn, will undermine banks’ asset quality […]
Port City Colombo successfully achieved 12Mn safe work hours with zero accidents
Jan 20, 2020 (LBO) – Port City Colombo has successfully achieved 12 million safe work hours with zero accidents, according to the ‘2018-2019 Social Responsibility Report’ of Port City Colombo, launched at a ceremony on Monday, 13 January 2020. This is the first Social Responsibility Report released by Port City Colombo of its parent company […]
Government institutions to be connected to a single network
Jan 20, 2020 (LBO) – Sri Lanka is to centralize all government institutions through a single data network to ensure a public sector service free of inefficiency, delays, and corruption. During a discussion held at the Presidential Secretariat President Gotabaya Rajapaksa instructed officials of the information and communication sector to take measures immediately to build […]
VIDEO: Thomas Edison did everything he could to stop Nikola Tesla succeeding
Nikola Tesla’s theory of using alternating current to supply power to American homes is still in use today, but Thomas Edison did his best to try and stop Tesla from succeeding.
President pays attention to social issues relating to Norochcholai Coal Plant
President Gotabaya Rajapaksa mediates to resolve environmental and social issues caused by the Norochcholai Coal Power Plant. He directed that the coal power plant should be operated according to proper technical procedures and environmental standards. The President made these remarks during a meeting held at the President’s Office, today (17) with the Archbishop of Colombo […]
‘t be used to attack entire Judiciary: BASL
Jan 17, 2020 (LBO) – Bar Association of Sri Lanka emphasizes that individual incidents cannot be permitted to be used to attack the entire judiciary as the judiciary is an extremely important institution for the protection of individual liberties and upholding the rule of law. Releasing a statement the association said that they have brought […]
Planters’ Association urges policy makers to make final decision on oil palm cultivation
Jan 17, 2020 (LBO) – Planters’ Association of Ceylon urges policy makers to urgently convene a meeting of all stakeholders in order to make a final determination on the subject of oil palm cultivation in Sri Lanka, after having fully considered all available and verified scientific and economic data on the subject. Full Statement Sri […]
Domestic helicopter flights resume from Galle Face
Jan 17, 2020 (LBO) – Sri Lanka’s government has granted permission for domestic aviation operators to use the helipad at the Galle Face allowing tourists and locals to travel quickly between key cities on the island. Accordingly, four domestic operators, IWS Aviation, Senok Aviation, Sakurai Aviation, and Daya Aviation has joined this service. A helipad […]
Trade deficit narrows marginally in Nov with imports, exports declining
Jan 17, 2020 (LBO) – Sri Lanka’s trade deficit contracted marginally in November 2019 (year-on-year), with both imports and exports declining, the latest Central Bank data showed. The deficit in the trade account declined in November to US dollars 762 million, from US dollars 785 million in November 2018. The trade deficit contracted by US […]
US-China deal helps world growth stabilise; uncertainties persist: Fitch
Jan 17, 2020 (LBO) – The signing of the US-China “Phase One” trade deal will boost business confidence and supports our view that global economic growth will stabilise in 2020, Fitch Ratings says. But its full impact will depend on how the deal is implemented, including whether China can meet its commitment to dramatically increase […]
Masatsugu Asakawa assumes office as President of Asian Development Bank today
“I am honored to assume the role of ADB President and to begin working in close cooperation with our 68 member countries. ADB has been a trusted partner of the region for more than half a century, supporting strong growth that has improved the lives of people across Asia and the Pacific. I will strive […]
Milford Ceylon buys 19-pct of Softlogic Life
Jan 17, 2020 (LBO) – Milford Ceylon Pvt Ltd., a Mauritius-based fund yesterday bought a 19 percent stake in Softlogic Life Insurance PLC for Rs.2.6 billion. Shares amounting to 71.25 million shares was acquired at 37.00 rupees each, the company said in a stock exchange filing, Thursday. The seller was DEG or State Street Munich […]