Author: lbostgadmin
Sir Richard Branson urges Sri Lanka not to enforce death penalty
June 26, 2019 (LBO) – Billionaire and global business icon Richard Branson has publicly weighed in on Sri Lanka’s intention to enforce the death penalty. Joining a chorus of concern coming in from all over the world, Branson has expressed his concern in writing to the government of Sri Lanka and publicly tweeted for the […]
People’s Bank will not be privatized: Finance Minister
Jun 26, 2019 (LBO) – Sri Lanka’s Finance Minister says that the recent news report in the media quoting an opposition Parliamentarian to the effect that the People’s Bank is to be privatized is completely false and misleading. Certain political parties and the Trade Union affiliated to those parties had alleged the government is to […]
FastTrack Summer Internship Programme relaunched with Brandix, Fonterra & JKH to inspire young talent
Brandix Apparel Limited, Fonterra Brands Lanka (Pvt.) Ltd. and John Keells Holdings PLC held the orientation for fifteen diverse, talented interns today (25th June 2019) at Hatch, Colombo, formally commencing the Fast Track Summer Internship Programme 2019. First introduced in 2011, the ‘FastTrack’ Summer Internship Programme returned in April 2019 to provide fifteen selected undergraduates […]
Sri Lanka securities regulator files charges on market manipulation
Jun 26, 2019 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) has filed an action in the Magistrate’s Court against two investors on charges of having committed the offence of market manipulation with regard to the shares of E-Channelling PLC. The action was filed on the basis of evidence elicited during the course of […]
Sri Lanka relaxes dress code for female public servants
Jun 26, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has granted approval to amend a circular on the dress code for public servants allowing female public servants to wear any decent dress without covering their faces. According to the cabinet proposal, the dress code for female public servants, however, should not impede the directives […]
Sri Lanka updates HRC on measures taken to advance human rights, peace and security
Jun 26, 2019 (LBO) – The Sri Lanka delegation to the Human Rights Council briefed the Council on progress made in addressing human rights concerns, national security imperatives, as well as reconciliation priorities. Sri Lanka’s intervention under agenda item 2 of the council, followed the oral update provided by the UN High Commissioner for Human […]
Minister seeks cabinet intervention as consumer group charges CEB over salary hike
Jun 25, 2019 (LBO) – Sri Lanka’s Power Minister is reportedly to present a cabinet paper to obtain the approval of the cabinet to rectify the errors in relation to the creation of a Unified Engineering Service and related salary scales in the state-owned Ceylon Electricity Board. The move came after the Appeal Court on […]
Opinion: The increasing need to invest along expressway network
By PwC Sri Lanka The Nexus between Property and Road Development in Sri Lanka Post war Sri Lanka has seen a dramatic revival to its infrastructure growth. Over the past decade, high rises, new cities and modern road networks have become an increasingly common sight not just in the commercial capital of Colombo, but throughout […]
INSEE extends waste management services to BOI for next 16 years
Jun 25, 2019 (LBO) – After a decade of operations with the BOI, INSEE Ecocycle Lanka, the waste management subsidiary of INSEE Cement recently signed an agreement, extending its waste management services to BOI for the next 16 years. BOI Chairman Mangala Yapa, INSEE Cement Chairman Nandana Ekanayake and Director of INSEE Ecocycle Sanjeewa Chulakumara […]
Sri Lanka successfully launches USD bond with over 3 times oversubscription
Jun 25, 2019 (LBO) – Sri Lanka returned to the US dollar bond markets, successfully pricing a new issuance of 500 million dollars 5-year and 1.5 billion dollars long 10-year bonds with over three times over subscription. The Central Bank said the final orderbook stood at over 1.8 billion dollars across 165 accounts for the […]
Comm Bank commences acceptance of LankaPay-JCB cards
Jun 25, 2019 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has become one of the first banks in Sri Lanka to have its point-of-sale (POS) network accept LankaPay-JCB (Japan Credit Bureau) co-branded cards issued under the national card scheme programme. This follows the integration of Commercial Bank and the LankaPay Common POS Switch System […]
Hyrax Oil lubricant blending plant declared open in Muthurajawela
Jun 24, 2019 (LBO) – Prime Minister Ranil Wickremesinghe declared open the Hyrax Oil lubricant blending plant in Muthurajawela today. The is the second of its kind which has been built outside Malaysia by Hyrax Oil with a 30 million US dollar investment. The plant is a Build, Operate and Transfer (BOT) investment and the […]