Author: lbostgadmin
US Navy warship to call Colombo port on weekend
The U.S. 7th Fleet flagship USS Blue Ridge (LCC 19) will arrive in Colombo for a port call March 26, the first visit by a U.S. Navy ship since October 2011. The visit builds upon last month’s Partnership Dialogue in Washington D.C., where both nations pledged to strengthen maritime security cooperation efforts in the Indian […]
Fitch affirms and withdraws HSBC Sri Lanka Branch at AAA
Mar 24, 2016 (LBO) – Fitch Ratings Lanka has affirmed and simultaneously withdrawn the rating of HSBC Sri Lanka Branch’s (HSBCSL) National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook due to commercial reasons. Fitch said in a statement that HSBCSL’s rating is at the highest end of the National Rating scale and reflects the credit profile and financial strength […]
Sri Lanka’s Watawala Plantations invests in new dairy farm
Mar 24, 2016 (LBO) – Sri Lanka’s Watawala Plantations, one of the largest tea plantation companies in the island has entered into a Joint Venture Agreement with PADC Holdings in Cayman to set up a new dairy farm. As per the agreement entered between the two parties today, the dairy farm will be set up […]
Sri Lanka tea sees better demand for low growns
Mar 24, 2016 (LBO) – Sri Lanka’s tea prices in overall auction offerings were marginally lower with better demand for low grown and mid to high grown prices easier, Forbes & Walker Tea Brokers said in their latest report. “Low grown continued to witness better demand in general and consequently, a dearer trend in prices while high […]
Sri Lanka’s Right to Information Bill presented to Parliament
Mar 24, 2016 (LBO) – Sri Lanka’s long-awaited Right to Information Bill was presented to Parliament today as the first reading. Mass Media and Parliamentary Reforms Minister Gayantha Karunathilaka presented the bill to the house. The speaker Karu Jayasuriya yesterday informed Parliament that the bill has been passed through all provincial councils subjected to certain […]
Prime Minister orders an investigation into CSE power failure
Mar 24, 2016 (LBO) – Sri Lanka’s Prime Minister has ordered an investigation into the sudden power failure reported recently at the Colombo Stock Exchange. “Every stock exchange should have back-up power to operate. Today foreign investors asked us how they invest in a market where there is no power to operate,” Premier Ranil Wickremesinghe […]
Sri Lanka gets direct cargo link between Colombo and Yangon
Mar 24, 2016 (LBO) – Sri Lanka’s Continental Shipping Lines’ “Pathien Star” made it’s inaugural call at the Jaya Container Terminal in Colombo yesterday. The vessel is scheduled to leave for Port Yangon of Myanmar soon. “This is the first time that a direct cargo link has been established between Colombo and Yangon opening a new […]
Sri Lanka Exporters hail Commonwealth over assistance for proposed EXIM Bank
Mar 24, 2016 (LBO) – Sri Lanka’s Exporters Association (EASL) has welcomes the recent announcement that the Commonwealth Secretariat has offered technical assistance to set up the proposed EXIM Bank, a statement said. “The EASL believes that the support, advice and intervention that becomes possible by a Bank dedicated to Exports, will be the fillip […]
Sri Lanka to buy 3 private power plants: Power Minister
Mar 23, 2016 (LBO) – Sri Lanka’s Power Ministry has decided to buy three private power stations as an additional measure to avoid future power cuts. Accordingly, ACE power generation Matara (25 MW), ACE power generation Embilipitiya (100 MW) and Heladhanavi Power Station Puttalam (100 MW) will be acquired by the government. The power purchase […]
PTL Watch: Bond yields tick higher on thin volumes
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IFC, Canada to invest USD15 mn in Richard Pieris for green retail growth
Mar 23, 2016 (LBO) — IFC, a member of the World Bank Group, together with the IFC-Canada Climate Change Program will invest 15 million dollars in Sri Lankan retail chain Richard Pieris Distributors Limited to help the company expand its retail network, support job creation, and develop local supply chains, a statement said. Funding will […]
UK supports professional development of Sri Lanka Police
For the last three years the UK, through the Scottish Police College, has supported the development of new training programmes for the Sri Lanka Police – both for new entrants to the Police College and more senior officers at the Police Academy. Courses at the Academy cover topics such as Ethical Leadership and Organisational Management. […]