Author: lbostgadmin
Sri Lanka unveils modern hi-tech TVET facility with South Korean backing
Aug 21, 2019 (LBO) – Backed by the global industrial giant South Korea, Sri Lanka launched its most modern national hi-tech training facility to-date on Wednesday. As it unveiled its Technical and Vocational Education and Training (TVET) facility in a Colombo suburb, Sri Lanka also said that its skills development work has shown results so […]
SEC files action against several individuals for market manipulation
Aug 20, 2019 (LBO) – Securities and Exchange Commission of Sri Lanka (SEC) has filed an action before the Fort Magistrate’s Court against several individuals for market manipulation. The full statement is reproduced below. SEC FILES ACTION FOR MARKET MANIPULATION The Securities and Exchange Commission of Sri Lanka (SEC) on 25th July 2019 filed action […]
Appointment of Army Commander is a sovereign decision by Head of State: Foreign Ministry
Aug 20, 2019 (LBO) – Sri Lanka’s Foreign Ministry says that the appointment of Army Commander is a sovereign decision by the Head of State and foreign entities trying to influence the decisions and internal administrative processes of public service promotions is unwarranted and unacceptable. Releasing a statement, the Foreign Ministry said that articulating a […]
Mobitel signs MoU with Japura Uni to conduct collaborative research on 5G, IoT & AI
The National Mobile Service Provider, Mobitel recently signed a landmark Memorandum of Understanding (MoU) with the University of Sri Jayewardenepura, to co-create and co-innovate in the area of telecommunication, 5G, Internet of Things (IoT), Artificial Intelligence (AI) and more – with both parties sharing their respective areas of expertise and knowledge towards the common goal […]
SLASSCOM and Norway sign collaboration agreement on ICT and entrepreneurship
Aug 20, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a two-year agreement to foster collaboration in the ICT industry. The newly appointed Norwegian Ambassador to Sri Lanka, H.E. Trine Jøranli Eskedal and Ranil Rajapakse, chairman SLASSCOM signed the agreement. The […]
Pigeon Island partners Blue Resources Trust to create conservation programs
Aug 20, 2019 (LBO) – Sri Lankan tropical wear brand Pigeon Island, based on marine conservation and plastic recycling, recently partnered with Blue Resources Trust, a marine research, conservation, and education non-profit organisation based in Sri Lanka. Through this partnership, Pigeon Island and Blue Resources Trust will gather research on the status of sharks and […]
USD160mn ADB loan to modernize Sri Lanka’s railway sector
Aug 20, 2019 (LBO) – Sri Lanka’s government has mobilized loan assistance amounting to 160 million dollars from the Asian Development Bank (ADB) to cater to the increasing demand of the Railway Sector through modernization of the railway operations and thereby improving the efficiency of services provided by Sri Lanka Railways. The total estimated investment […]
First Capital assigns higher probability for neutral monetary policy stance
Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the Central Bank may delay the monetary easing while allowing the impact of the previous rate cut to materialise. With manufacturing and credit signaling signs of recovery in economy and vulnerabilities affecting the external outlook, they assign a higher probability of 70 percent […]
‘s appointment undermines Sri Lanka’s reputation: US Embassy
Aug 19, 2019 (LBO) – The United States is deeply concerned by the appointment of Lieutenant General Shavendra Silva as Army Commander, releasing a statement the US Embassy in Colombo said. “The allegations of gross human rights violations against him, documented by the United Nations and other organizations, are serious and credible,” the embassy said. […]
New Norwegian Ambassador presents credentials
New Norwegian Ambassador Trine Jøranli Eskedal presented her credentials to President H. E. Maithripala Sirisena at the President’s House today. Prior to assuming her position as the Norwegian Ambassador to Sri Lanka, she was Head of Section at the International Department of the Norwegian Parliament (Storting) in Oslo from 2016 to 2019. Previously she has […]
‘s new Army Commander
Aug 19, 2019 (LBO) – President Maithripala Sirisena has appointed Lieutenant General Shavendra Silva as the new Commander of the Sri Lanka Army. The appointment came after Army Chief Lieutenant General Mahesh Senanayake officially retired from service yesterday. Reports said that Silva’s appointment will be for a period of 4 months along with 6 months […]
Softlogic Holdings report 7-pct growth in first six months 2019
Softlogic Holdings top line witnessed a 7% growth to Rs. 17.1 billion during the quarter ended JUNE 30, 2019 following the decline in consumer demand and business sentiments. The top contributors to Group revenue were Retail (49%), Financial Services (22%) and Healthcare Services (20%). The non-core vertical which includes Automobile and Leisure & Property together […]