Author: lbostgadmin
Sri Lanka’s Access Engineering net down 13-pct in June quarter
July 28, 2016 (LBO) – Profits at Sri Lanka’s Access Engineering group fell 13 percent to 524 million rupees in the June 2016 quarter from a year earlier amid higher expenses, interim accounts showed. The group posted earnings of 52 cents per share for the quarter, and the stock ended at 23.20 rupees on Wednesday. […]
Cabinet approves concessionary taxes for commercial land
Jul 27, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve concessionary taxes for commercial lands under the state lands ordinance. Under a directive by President Maithripala Sirisena, in his capacity as the Minister of Mahaweli Development and Environment, a concessionary taxation method for leasing state lands was approved by the Cabinet of Ministers, […]
Moratuwa Uni “D-Mora P1” car wins accolades at Formula Student UK 2016
July 28, 2016 (LBO) The D-Mora P1 race car built by the engineering students from the University of Moratuwa with the backing of Diesel & Motor Engineering PLC (DIMO), one of the leading automobile companies in Sri Lanka, won accolades at the world’s biggest student motorsport competition “Formula Student 2016”. This was the first time […]
Sri Lanka tea output dips 14.3-pct in June, Will miss full year target: Tea Board
COLOMBO, July 27 (Reuters) -Sri Lanka’s tea output in June fell 14.3 percent from a year earlier because of heavy rain the previous month, a media report said. Production in the first six months has fallen by 11.1 percent , a Reuters report said. “There was heavy rain in May and that is the main reason for […]
UK launches new visit visa application form in Sri Lanka
July 27, 2016 (LBO) – As part of a global rollout, a new visa application form called Access UK was launched in Sri Lanka for customers applying for a UK visit visa. British High Commission in Colombo said the new form will make it quicker and easier for customers to apply for their UK visa. […]
Sri Lankan rupee edges down on importer dollar demand
July 27, 2016 (Reuters) – The Sri Lankan rupee edged down on Wednesday due to importer dollar demand as hopes of the currency’s appreciation after a recent sovereign bond inflow evaporated, dealers said. One-week rupee forwards, which have been acting as a proxy for the spot rupee, traded at 146.20/40 per dollar, slightly weaker than […]
Yaddehige obtains interim order against NDB Bank resolution
July 27, 2016 (LBO) – Dr Sena Yaddehige has obtained an interim order restraining NDB Bank from tabling a resolution that contravenes its corporate governance obligations and articles of association, his lawyers said. According to the order granted by the Commercial High Court, NDB cannot table the resolution to its shareholders that removes the requirement […]
Sri Lanka’s Cabinet approves USD318mn Indian credit line for railway
July 27, 2016 (LBO) – Sri Lanka’s Cabinet has approved the proposed 318 million US dollars Indian credit line for the development of the country’s railway sector. The credit line was proposed during the Indian Prime Minister’s 2015 official visit to Sri Lanka and will be provided through the EXIM Bank of India. Part of […]
PTL Watch: Yields dip, eyes on monetary policy
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NDBIB wins ‘Sri Lanka’s Best Investment Bank2016’ by Euromoney
(PRESS RELEASE) – NDB Investment Bank, which completed a record breaking year in 2015 raising a mammoth LKR 60 Bn, was awarded ‘Sri Lanka’sBest Investment Bank 2016’ by the prestigious Euromoney Magazine. This marks the fifth consecutive year NDBIB has been bestowed with this highly acclaimed award. The award was presented at a gala event […]
Porsche in Berlin: World premiere of the new Panamera
Press Release: Berlin. Porsche this week celebrated the world premiere of the new Panamera in Berlin to a spectacular display of lights, music and choreography. Over 300 international media representatives – as well as guests from politics, business, sports and society – saw the unveiling for the first time. The new Porsche Panamera reconciles two […]
Canadian FM visits Sri Lanka to help with human rights
July 27, 2016 (LBO) – Canada’s Foreign Affairs Minister Stéphane Dion is to visit Sri Lanka until July 29 to advance bilateral relations and to support Sri Lanka in its efforts to promote human rights, reconciliation and accountability. Canadian government announced that the Foreign Minister will meet with President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe, […]