Author: lbostgadmin
‘s Lagarde
New Delhi, Mar 12, 2016 (LBO) – Even-greater trade integration can support more sustained growth, especially for countries in South Asia, observed Christine Lagarde, Managing Director, International Monetary Fund. Lagarde made these remarks at the opening session of a three-day high-level conference in New Delhi themed “Advancing Asia: Investing for the Future”. The conference is […]
Interview: Tourists need better infrastructure, says Astoria developer
Mar 12, 2016 (LBO) – Sri Lanka should take more steps to attract Chinese tourists as foreign investors increase investments in the island, a top Chinese property developer said. “We think Sri Lanka has a bright future. But Sri Lanka must improve infrastructure facilities to attract more people,” Zhong Yuan, the president of AVIC International Hotels […]
Sri Lanka’s CPC incurs Rs13.2bn loss for Jan-Nov 2015: Petroleum Minister
Mar 11, 2016 (LBO) – The marginal profit received from selling diesel is not sufficient to cover the 13.2 billion rupee loss incurred by the CPC in the first eleven months of 2015, Petroleum Minister Chandima Weerakkody said. Minister Weerakkody told Parliament that based on last December prices the state-owned Ceylon Petroleum Corporation and Lanka […]
PTL Watch: Subdued trading, Rs20 bln in foreign selling
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/03/11th-March-2016-PDF.pdf”]
Thank You Sri Lanka, Tohoku Region is back now: Japanese Ambassador
(Message by H.E. Kenichi Suganuma, Ambassador Of Japan on the occasion of the 5th Anniversary of the Great East Japan Earthquake and Tsunami- 11th March 2016) It was exactly 5 years ago today that the Great East Japan Earthquake and Tsunami hit devastating many parts of Eastern Japan. The disaster claimed 15,000 lives of people and […]
Fitch rates Siyapatha Finance proposed debt A- (EXP)
Fitch Ratings has assigned Siyapatha Finance PLC’s (Siyapatha; A-(lka)/Stable) proposed senior unsecured redeemable debentures of up to LKR2.5bn a National Long-Term expected rating of ‘A-(lka)(EXP)’. A full list of existing ratings is at the end of this rating action commentary. The issue will have two tranches with bullet principal repayments in the third and fifth […]
Aitken Spence Hotel Holdings invests Rs500mn in Golden Sun Resorts
Mar 11, 2016 (LBO) – Aitken Spence Hotel Holdings has decided to accept 50 million shares of its fully owned subsidiary Golden Sun Resorts private limited in lieu of certain funds advanced by the Company. Aitken Spence hotel Holdings in a stock exchange filing said it has from time to time advanced funds to the […]
CPC to start lubricant manufacturing company with USD13mn
Mar 11, 2016 (LBO) – The Ceylon Petroleum Corporation has obtained Cabinet approval to open a State-owned lubricant manufacturing company to avoid the high expenditures on lubricants. As per the government sources, the proposed company will commence within the next two weeks with an initial investment of 13 million US dollars. 2016 budget proposed to […]
US agency MCC to identify country’s constraints to economic growth
Representatives from the Millennium Challenge Corporation (MCC), an independent U.S. development agency, are visiting Sri Lanka this week to begin a partnership to overcome key challenges to economic growth and poverty reduction. The delegation met with President Maithripala Sirisena, Prime Minister Wickremesinghe, and other top cabinet ministers, along with a cross-section of industry, civil society, […]
LAUGFS bags Platinum at Vision annual report competition
LAUGFS Gas PLC emerged as a top winner again, having received the prestigious Platinum Award for the second consecutive year at the 2014/15 Vision Awards Annual Report Competition. This year, LAUGFS Gas PLC was bestowed with the Platinum Award for excellence within the industry on the development of the organization’s annual report, the Silver Award […]
Sri Lanka to implement pre paid card system for public transportation
Mar 11, 2016 (LBO) – The cabinet approval has been obtained to implement an electronic charging system through prepaid cards.The project will be implemented with the cooperation of ICTA, Transport Board, National Transport Commission, private bus owners, public banks and IT companies. The main positive feature of electronic charging system is its ability to charge […]
Sri Lanka investigating money allegedly laundered from NY Fed
Mar 10, 2016 (LBO) – Sri Lanka is investigating Bangladesh government’s claims that hackers stole nearly 100 million dollars from an account with the Federal Reserve Bank of New York and laundered money in Philippines and Sri Lanka. Bangladeshi officials said they had recovered part of the money from Sri Lanka and was in contact […]