Author: lbostgadmin
SLASSCOM People Summit 2019 to feature Bill Duane, Google’s ‘superintendent of wellbeing’
Mar 18, 2019 (LBO) – SLASSCOM’s 2019 People Summit sees a change in its traditional technologically themed content, to sound a more humanistic beat. Titled “Transcending Technology – The Human Factor”, the event is scheduled to take place on the 22nd of March at the Shangri-la and, will feature Google’s long standing ‘superintendent of wellbeing’ Bill […]
Annasi accharu for American Ambassador on Galle Face Green
March 17, 2019 (LBO) – Sri Lanka’s most prominent foreign envoy, United States Ambassador Alaina Teplitz has taken the time to sample Sri Lankan street food on Galle Face Green.The Ambassador tweeted about her experience which generated the whole gamut of responses.Some hailed her for her down to earth adventurous spirt for sampling street food. […]
HVA avoids trading suspension, takes Rs140mn provision to resolve accounting issues
March 15, 2019 (LBO) – Colombo Stock Exchange CSE listed HVA Foods (HVA) has avoided an impending trading suspension by resolving accounting issues flagged by the CSE. Shares were set to be suspended from trading next week. Shares spiked almost 40% on the news on a light Rs4mn in trading volume. The CSE released the […]
”’ Rating
Mar 14, 2019 (LBO) – Fitch Ratings has assigned a final rating of ‘B’ to the following bonds issued by Sri Lanka on 7 March 2019: USD1 billion 6.85% bond due 2024, USD1.4 billion 7.85% bond due 2029. This replaces the expected rating of ‘B (EXP)’ that Fitch assigned on 6 March 2019. KEY RATING DRIVERS […]
‘s new tourism advisory committee gets down to work
Mar 14, 2019 (LBO) – With an eye on achieving the targeted 3 million tourist arrivals this year, a newly constituted Tourism Advisory Committee has been appointed by Minister of Tourism Development, Wildlife and Christian Religious Affairs, John Amaratunga. The 14 member committee comprises of private sector tourism stakeholders and is headed by business magnate Harry […]
Sri Lanka reserves at USD 6.9Bn at end 2018: Trade deficit declined
Mar 14, 2019 (LBO) – The trade deficit declined significantly in December 2018 (year-on-year) with a notable deceleration in import expenditure, data shows. Exports grew by 1.4 percent while imports fell by 15.3 percent in December 2018 (year-on-year), the Central Bank of Sri Lanka said. Total exports of goods grew by 4.7 per cent in 2018 […]
Mandatory provisions regarding separation of Chairman/CEO roles, awaiting public consultation: SEC
Mar 14, 2019 (LBO) – The corporate governance provisions for the separation of the chairman and chief executive officer roles in listed companies, were to be introduced only after stakeholder consultation, Ranel Wijesinha chairman, Securities and Exchange Commission (SEC) said. A decision was taken at the end of the third quarter of 2018, to subject […]
Sri Lanka estate workers daily wage hiked to Rs. 800 from April 01st : Fin Min
Mar 13, 2019 (LBO) – Sri Lanka’s Finance Minister said estate workers will receive a 800 rupees daily wage from the present 700 rupees from April 01st 2019. ‘They will receive Rs. 50 daily allowance form April 01st for the next 12 months,’ he told reporters in Colombo a short while ago. ‘The wage which […]
MTD Walkers (KAPI) trading still halted, collapse likely to cause pain for bankers
March 13, 2019 (LBO) – Shares in Colombo Stock Exchange listed MTD Walkers (KAPI) have been halted from trading since February 14th. Investors are still awaiting information on when the stock will start trading again, if ever. The debt filled construction company has been mired in controversy for several months, as they have reported massive […]
UK’s Flexicare launches USD 10Mn health care manufacturing facility in SL
Mar 13, 2019 (LBO) – Flexicare Lanka (Pvt) Ltd., a fully owned subsidiary of Flexicare Group, UK launched the construction of a state-of-the art modern manufacturing facility in Bandaragama with an investment of over US 10 million dollars, recently. The project is approved by the Board of Investment of Sri Lanka.Flexicare Group UK Managing Director, Hash […]
Fuel prices increased; Petrol hiked to Rs.132
Mar 13, 2019 (LBO) – Sri Lanka Government increased the price of petrol (92 Octane) by 3 rupees to 132 rupees a litre and auto diesel by 1 rupee to 104 rupees from midnight yesterday, the finance ministry said. Petrol (Octane 95) will now be sold at Rs. 159, after an increase by Rs. 7 a […]
‘s Michelin eyes Sri Lanka for new operations
Mar 13, 2019 (LBO) – A delegation from Michelin, the French tire manufacturing giant met with the Board of Investment Chairman Hemasiri Fernando and Champika Malalgoda, Director General of the BOI. By acquiring Camso Lodestar the leader in the manufacture of solid rubber tires in the country and a BOI enterprise, Michelin are now established […]