Author: lbostgadmin
Sri Lanka to bring electoral reform through constitutional amendment
Apr 23, 2015 (LBO) – Sri Lanka’s Cabinet Spokesman, Rajitha Senarathne said today that the government has presented a draft proposal to the cabinet and is planning to replace the existing proportional system with a mixed electoral one.Senarathne said that the new system includes provisions to elect a Parliamentarian directly to each electorate and a […]
‘s Central Bank to have $1.1bn currency swap extension from India
Apr 23, 2015 (LBO) – Sri Lanka’s Central Bank is to enter into an agreement with India to extend its currency swap facility by 1.1 billion US dollars. The union cabinet chaired by the Indian Prime Minister on Wednesday gave its ex-post-facto approval for entering into an agreement with the Sri Lankan Central Bank for […]
Sri Lanka stocks close lower at 0.04-pct
Apr 23, 2015 (LBO) – Sri Lanka’s stocks closed lower, 0.04 per cent with the telecommunication stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed 2.74 points lower at 7,114.39, down 0.04 per cent. The S&P SL20 closed 03.29 points lower at 4,026.32, down 0.08 per cent. “The political uncertainty in […]
‘s Marxist JVP not satisfied with the out come of bond investigation
Apr 23, 2015 (LBO) – Sri Lanka’s Marxist JVP on Thursday reiterated the government to conduct an impartial investigation into the controversial bond issue. Speaking at a press briefing, JVP leader Anura Kumara Dissanayaka criticized Prime Minister Ranil Wickramasinghe for not appointing an independent team for the investigation. “If you look at the past nomination […]
Sri Lanka to implement Bibile sugar development project
Apr 23, 2015 (LBO) – Sri Lanka’s cabinet has given approval to implement the Bibile sugar development project with the participation of farmers from the Badulla and Ampara districts covering the cultivation of sugar cane for the production of sugar and cultivate mixed crops.Each farmer in the area will be provided a block of land […]
Sri Lanka’s entrepreneur Otara Gunawardene says “I have no regrets selling Odel”
Apr 23, 2015 (LBO) – Sri Lanka’s entrepreneur Otara Gunawardene, who started her retail business selling garment factory surplus stock from the back of a van and then turned it into one of the largest fashion and lifestyle retail chains in the Island says, she has no regrets selling her 25 year old business empire. […]
‘s Fitch rates DFCC Vardhana debentures
Apr 23, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned DFCC Vardhana Bank’s proposed Basel II-compliant senior debentures of up to 3 billion rupees an expected national long-term rating of ‘AA-(lka)(EXP)’. The proposed Basel II-compliant subordinated debentures of up to 2 billion rupees has assigned an expected national long-term rating of ‘A+(lka)(EXP)’. The debentures, […]
Sri Lanka’s Fitch withdraws national long term rating on DSI Holdings
Apr 23, 2015 (LBO) – Sri Lanka’s Fitch Ratings has withdrawn DSI Holding’s national long-term rating of ‘BBB(lka)’ with a stable outlook. Issuing a statement Fitch said the withdrawal follows the amalgamation of DSI Holdings with its ultimate parent, DSI Samson Group (Private) Limited.DSI Samson Group is the surviving entity and under the provisions of […]
Sri Lanka’s Singhe Hospitals opens for trading
Apr 23, 2015 (LBO) – Sri Lanka’s Singhe Hospitals was listed on the DiriSavi board of the Colombo Stock Exchange on Tuesday, the stock exchange said in an announcement.Chairman and CEO of Singhe Hospitals A.M. Weerasinghe rang the ceremonial opening bell to begin trading for the day.On the first day of trading Singhe Hospitals shares […]
‘s Central Bank to have $1.1bn currency swap extension from India
Apr 23, 2015 (LBO) – Sri Lanka’s Central Bank is to enter into an agreement with India to extend its currency swap facility by 1.1 billion US dollars. The union cabinet chaired by the Indian Prime Minister on Wednesday gave its ex-post-facto approval for entering into an agreement with the Sri Lankan Central Bank for […]
Sri Lanka’s former president brother Basil Rajapaksa arrested
Sri Lanka’s former president brother Basil Rajapaksa arrestedApr 22, 2015 (LBO) – Sri Lanka’s former economic development minister Basil Rajapaksa has been arrested by the Police Financial Crimes Investigation Divison, quoting his lawyer the state run Rupavahini reported. Rajapaksa is to be produced before Kaduwela magistrate today, the report further said. However police spokesman is […]
Sri Lanka to pitch foreign cruise liners to expand cruise tourism: Tourism Promotion
Apr 22,2015 (LBO) – Sri Lanka’s tourism promotion bureau said that it plans to attract more international cruise liners in order to expand Island’s cruise tourism business.“We will make a pitch for top cruise organizations like Royal Caribbean, Celebrity and MSC to have turnaround visits and include Sri Lanka in to the itinerary,” Rohan Athukorala […]