Author: lbostgadmin
FriMi from Nations Trust Bank continues to dominate digital banking in Sri Lanka
May 24, 2019 (LBO) – FriMi and in just a short span of two years, the first digital bank in Sri Lanka has completely changed the way banking and payments can be done. FriMi functions as a fully-fledged digital bank, mobile wallet and payment system wrapped into one solution. FriMi was created to provide the […]
Modi wins second term
May 24, 2019 (LBO) – Indian Prime Minister Narendra Modi won a landslide victory with his party Bharatiya Janata Party (BJP) securing a larger number of seats than the 2014 election. With final results yet to be declared BJP has secured 302 out of 543 elected lower house seats so far.This would push the BJP […]
Gany Subramaniam appointed Chief Executive Officer of Allianz Lanka
Allianz today announces the appointment of Gany Subramaniam as the Chief Executive Officer of Allianz Insurance Lanka Ltd & Allianz Life Insurance Lanka Ltd (Allianz Lanka), overseeing the growth strategy of the business and with overall management responsibility of all Allianz operations in Sri Lanka. Effective 1 June, Gany succeeds Surekha Alles, who leaves Allianz […]
Govt plans to construct two flyovers at Kohuwala and Gatambe
May 23, 2019 (LBO) – The Cabinet of ministers has approved plans to construct two more flyovers at Gatambe in Kandy and another in Kohuwala, Colombo. Accordingly a contact will be awarded to Betonutepito Compaby Pvt Ltd in Hungary for 52 million rupees and enter into necessary loan agreements, a statement said. The proposal was […]
IIT CodeSprint 4.0 fuels entrepreneurial spirit of undergraduates
May 23, 2019 (LBO) – Informatics Institute of Technology (IIT), has commenced CodeSprint 4.0, the fourth edition of the annual event that fuels the entrepreneurial spirit of undergraduates in Sri Lanka. Building on the success of CodeSprint 3.0 held last year, the IEEE Student Branch of Informatics Institute of Technology announced CodeSprint 4.0 to providean […]
Ration and other allowances paid to Tri-Services increased: Fin Min
May 23, 2019 (LBO) – The ration and other allowances paid to all the officers and other ranks in the Tri – Services have been increased by the government, the Finance Ministry said. Some of these allowances had not been increased for over the last 20 years. Budget 2019 proposed to increase the Uniform allowance, […]
News item titled “Pakistan’s trade with Sri Lanka comes to a halt” is fake: SL High Commission
May 23, 2019 (LBO) – Sri Lanka’s High Commission in Islamabad, Pakistan said the news item titled “Pakistan’s trade with Sri Lanka Comes to a halt” which appeared in The Express Tribune of Pakistan on 20 May 2019 is fake news. Releasing a statement, the High Commission said this fake news item has been published […]
IMF wants SEC to streamline enforcement program; expedite high-profile criminal actions
May 23, 2019 (LBO) – International Monetary Fund (IMF) advises Securities and Exchange Commission of Sri Lanka (SEC) to streamline the current enforcement program and bring several high-profile criminal actions soon that will have a positive impact on the public’s confidence in the SEC as a regulator. Releasing the technical assistance report for enhancing the […]
Circular issued to pay Rs 2500 monthly interim allowance to all public officials
May 22, 2019 (LBO) – Sri Lanka’s Finance Ministry said all public sector employees will be paid a special interim monthly allowance of 2500 rupees effective from July 01, 2019 as proposed in the Budget. A circular in this regard has already been issued by the Ministry of Public Administration and Disaster Management with the […]
Parliament to appoint Select Committee to look into recent terrorist attacks in Sri Lanka
May 22, 2019 (LBO) – Sri Lanka’s Parliament will appoint a Select Committee to look into and report to Parliament on the terrorist attacks that took place in different places in Sri Lanka on 21 April 2019. The committee and its chair will be nominated by the Speaker and the committee will not consist of […]
Sri Lanka inflation increased to 3.6-pct in April
May 22, 2019 (LBO) – Headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 3.6 percent in April from 2.9 percent in March due to the monthly price increases of Food and Non-food items, Central Bank data showed. In April, year on year Food inflation was -1.2 percent […]
CBSL intends to cut ownership limits of LFCs to 25-pct; invites stakeholder inputs
May 22, 2019 (LBO) – Sri Lanka’s Central Bank invites stakeholders to submit observations on the drafted master plan that intends to introduce ownership limits to the Licensed Finance Companies (LFCs). The Department of Supervision of Non-Bank Financial Institutions (DSNBFI) is in the process of introducing ownership limits for LFCs to strengthen the corporate governance […]