Author: lbostgadmin
SriLankan aims Rs75mn annual cost saving by moving back-office functions to Katunayake
July 03, 2019 (LBO) – The Board and Management of SriLankan Airlines have taken a decision to relocate all its corporate offices in the World Trade Centre to its main operational hub in Katunayake. The Management of SriLankan Airlines emphasized that it is business as usual for all their customers as none of the key […]
Otara shares her life experiences with BOI staff
Otara Gunawardena, leading entrepreneur and environmental and animal rights advocate addressed the BOI staff at the Board’s Auditorium recently. The lecture focused on Otara’s successful career as an entrepreneur, and her creation of a well-known brand in the country from an initial US$50 to US$50 million. In addition she spoke on how she was able […]
Lonely Planet affirms Sri Lanka as the best country to visit in 2019
July 03, 2019 (LBO) – Sri Lanka secured the top spot in the Lonely Planet’s best travel destinations list of countries to visit in 2019 despite the recent Easter Sunday attacks. The country has been upset, but continues to be an incredible place to visit and it still tops our Best in Travel for 2019, […]
Lagarde relinquishes IMF duties temporarily; nominated to head European Central Bank
July 03, 2019 (LBO) – Managing Director of the International Monetary Fund (IMF) Christine Lagarde has decided to relinquish her IMF responsibilities temporarily as she has been nominated as the next President of the European Central Bank. The Executive Board of the IMF issued the following statement today following her nomination to the presidency of […]
IGP and Former Defence Secy arrested while in hospital
Jul 03, 2019 (LBO) – Sri Lanka’s top police officer, Pujitha Jayasundara and the former Defence Secretary to the Ministry of Defence Hemasiri Fernando were both arrested in connection with the Easter Sunday terror blasts, yesterday while undergoing treatment in hospital. The Colombo Chief Magistrate, Lanka Jayaratne placed the two officials in remand custody after they […]
CSE and SEC reach out to investor community in Jaffna
Jul 03, 2019 (LBO) – The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently organized a regional investor forum in Jaffna with the aim of creating awareness on stock market investments. The forum drew an encouraging response and attracted over 180 participants, including a number of present and […]
Sri Lanka – Germany fast track dialogue to assist investors and tourism
Jul 03, 2019 (LBO) – The Sri Lanka – Germany fast track dialogue was held recently at the Ministry of Development Strategies and International Trade with the objective of addressing central issues faced by German enterprises operating in Sri Lanka under the BOI as well as facilitate new investments. Malik Samarawickrama, minister of Development Strategies […]
The Lean Six Sigma Company launches its operations in Sri Lanka
With the motive of supporting organizations and individuals in their ambition to continuously improve processes, The Lean Six Sigma Company, one of the world’s leading providers of Lean Six Sigma training recently commenced its operations in Sri Lanka in partnership with DA’VISION Business Solution Pvt Ltd, making it the first country to establish their presence […]
Emirates unveils special business class fares from Colombo
(PRESS RELEASE) – Business travellers from Sri Lanka as well as aficionados of the travel experience can now sample the premium Emirates Business Class product with substantil savings, thanks to the Airline’s launch of special Business Class fares to destinations in the USA, UK, Europe and Dubai. These special fares will be available for bookings […]
SriLankan Airlines incurs to Rs.13Bn loss in first 4 months of 2019
Jul 02, 2019 (LBO) – State-run SriLankan Airlines total loss has increased to 12,961 million rupees in the first four months of 2019, a new report said. The total debt of Sri Lankan exceeded US 750 million dollars, according to mid –year Fiscal Position Report -2019 of the Finance Ministry. “While the Government is currently […]
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July 01, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s 500 million US dollars, 6.35% bonds due 2024 and 1.5 billion 7.55% bonds due 2030 a final rating of ‘B’. The final rating is in line with the expected rating assigned on 24 June 2019. Key Rating Drivers The bonds ratings are in line […]
Fitch affirms 5 Sri Lankan finance companies; revises outlook on MIF to negative
July 01, 2019 (LBO) – Fitch Ratings has revised the Outlook on Mercantile Investments and Finance PLC (MIF) to Negative from Stable and has affirmed the ratings. At the same time, Fitch has affirmed the ratings of the following Sri Lankan finance companies:– Central Finance Company PLC (CF)– LB Finance PLC (LB)– Senkadagala Finance PLC […]