Author: lbostgadmin
‘s Merchant property sale for amalgamation
July 29, 2016 (LBO) – Sri Lanka’s People’s Leasing and Finance says it will amalgamate with People’s Merchant Finance within this financial year subject to two conditions, the company said. In a stock exchange filing, People’s Leasing and Finance said the first condition is the sale of People’s Merchant Finance property located at Nawam Mawatha, […]
Sri Lanka’s CCPI inflation down 0.5-pct points in July 2016
July 29, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 5.5 percent in July 2016 from a year earlier, down from 6.0 percent in June with the inflation index gaining 0.2 percent in the month, the state statistics office said. Year on year inflation of Food Group has decreased from 8.2 […]
Anura Kumara’s brush-strokes at brotherhood day
The JVP, civil organizations and artists yesterday remembered Black July at the Viharamahadevi Park. At the event JVP leaders started painting a large drawing with different colors with the theme “One country, multi colors.
Sri Lanka could better harness bio-gas: Waste Management Authority
Jul 29, 2016 (LBO) – Bio-gas can be used in Sri Lanka as a cheaper and cleaner renewable energy alternative to petroleum-based fuels, a senior official said. “Using domestic waste management and converting it into bio gas could be a boon to the developing island’s rising demand for energy,” said Nalin Mannapperuma, director, Waste Management […]
Guardian Acuity launches Sri Lanka’s first dual return investment plan
“Alpha plus”, Sri Lanka’s first dual return investment plan is now available to investors as a result of a partnership between Alliance Finance PLC and Guardian Acuity Asset Management (GAAM), a leading Unit Trust Management Company which is part of Carson Cumberbatch PLC, HNB and DFCC banks. “Alpha Plus is a dual return investment plan, […]
EBL Introduces Hybrid Electric Vehicle (HEV) Battery Revitalizing Technology in Sri Lanka
(PRESS RELEASE) – Edirisinghe Brothers (Pvt) Ltd., (EBL) announced the opening of Hybrid Hub; a purpose-built facility for the testing, conditioning and rebuilding of batteries for Hybrid Electric Vehicles (HEV) – the only such facility in Sri Lanka. Mr. Sanka Edirisinghe Co-Chief Operating Officer, Hybrid Hub, alluded to the changes in Sri Lankan vehicle owners’ […]
Sri Lanka foreign reserves USD6.4 bln in July: CB official
July 29, 2016 (LBO) – Sri Lanka’s official reserves were 6.4 billion US dollars at the end of July, up from 5.27 billion US dollars at the end of June, a central bank official said on Friday. Reserves were boosted by a dual-tranche sovereign bond offering this month of 500 million dollars through 5.5-year sovereign […]
‘s rate hike partly due to fiscal slippage on VAT: Coomaraswamy
July 29, 2016 (LBO) – Sri Lanka’s 50 basis point rate hike on Thursday was partly due to fiscal slippage arising from a delay in hiking the value added tax, Governor Indrajit Coomaraswamy said. Sri Lanka budgeted for a two percentage points of GDP reduction in the budget deficit this year, but delays to a […]
Textured Jersey Lanka net up 93-pct to Rs399 mln in quarter
Press Release: The TJL Group (TJ) has reported eight straight quarters of strong quarterly profit growth. The Q1 2016/17 performance has proved to be the Group’s best first quarter recorded to date, posting a consolidated net profit of Rs. 399 Million, representing a YoY growth of 93 percent. The Group has made significant progress in […]
New USAID Mission Director signals surge in US assistance to Sri Lanka
Signaling a surge in U.S. development assistance for Sri Lanka, the newly-arrived Dr. Andrew Sisson official assumed duties yesterday as the U.S. Agency for International Development (USAID) Mission Director to Sri Lanka and Maldives. U.S. Ambassador Atul Keshap administered the oath of office in the presence of his wife Karen Levine and the entire USAID […]
Sri Lanka to abolish hotel minimum rates by next year
July 29, 2016 (LBO) – Sri Lanka’s Tourism Development ministry has decided to abolish the minimum room rates imposed on city hotels with effect from 31st March 2017. This decision has been taken by the Tourism Development Minister John Amaratunga based on a recommendation of the Tourism Advisory Council which comprises of key players in […]
No more debate on monorail vs. LRT, Japan confirms funding
Jul 29, 2016 (LBO) – Sri Lanka’s government confirmed that the Japanese government will fund the islands proposed Light Rail Transit (LRT), ending a debate on monorail vs. LRT following the conclusion of a high level delegation visit from Japan, Thursday. “The delegation, led by Hirofumi Katase the Vice Minister for Economy, Trade and Industry of […]