Author: lbostgadmin
Power Ministry will present short-term solution for power issue to President on 22nd
Mar 16, 2016 (LBO) – Sri Lanka’s President will be presented with a committee report containing the short term solution for the recent island-wide power failures on 22nd March, the Power Minister said. “Today the committee met for the first time and are scheduled to meet again on Thursday and other investigation reports will be […]
Sri Lankan bank teller stops international hackers
Singapore, Mar 16, 2016 (LBO) – A Sri Lankan bank teller has stopped international hackers from laundering 20 million dollars stolen from the New York Federal Reserve, Central Bank Governor Arjuna Mahendran told an audience in Singapore on Tuesday. This is testament to the best practices followed by the island’s bankers, he said explaining the […]
Bahrain ready to engage with Sri Lanka: Shaikh Salman Bin Khalifa
Bahrain says it is ready to engage with Sri Lanka’s economic growth, as they are very confident of the commercial potential Sri Lanka has. This was said by the Principal Advisor to the Prime Minister of Bahrain, Shaikh Salman Bin Khalifa Al Khalifa, when visited the Ceylon Chamber of Commerce during the last week. He […]
‘s GSP+ process on the right track: EU Commissioner
Mar 16, 2016 (LBO) – The European Union has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, a senior EU official said. With the election of the new government Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]
SriLankan apprehends 230 persons with false travel documents in 2015
Mar 16, 2016 (LBO) – SriLankan Airlines has apprehended 230 persons with false travel documents last year in a bid to crack down on illicit travel through Bandaranaike International Airport (BIA). International law authorizes airlines to ensure that passengers travelling between countries do so with all authentic documentation, as required by the airline industry’s global […]
Aitken Spence Hotel Holdings invests Rs1.67bn in Ahungalla Resorts
Mar 15, 2016 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings has invested 1.67 billion rupees in 36 million shares in its subsidiary, Ahungalla Resorts Limited, the Company said in a stock exchange filing. The investment has carried out under the shareholders agreement entered between Aitken Spence Hotel Holdings, Riusa Ned BV, Riusa II S.A. […]
Sri Lanka’s economy grew 4.8-pct in 2015: Census Department
Mar 15, 2016 (LBO) – Sri Lanka’s economy has grown 4.8 percent in 2015 against the 4.9 percent growth recorded in the previous year, the statistics department said. The Gross Domestic Product (GDP) of Sri Lanka for the year of 2015 (January to December) has reached up to 8,622,825 million rupees. The GDP value reported […]
Sri Lanka’s Hayleys acquires 75-pct stake in Fentons for Rs963mn
Mar 15, 2016 (LBO) – Sri Lanka’s Hayleys has acquired 75 percent of the equity stake of Fentons Limited for 963 million rupees, the Company said in a stock exchange filing. Fentons, established in 1921 is a leading electrical and mechanical engineering solutions provider for Building Systems and ICT Infrastructure. “The management of Hayleys believes […]
Sri Lanka’s island-wide blackout signals power supply reliability issue
Mar 15, 2016 (LBO) – Sri Lanka’s recent island-wide power blackout has raised concerns over the reliability of national power supply and its future. Issues are ranging from known areas such as the future of fossil and coal based power and renewable energy and to even more relatively new issues such as failing ‘n-1’ reliability […]
Sri Lanka on cusp of growth, say officials at Singapore Investment Summit
Highlights – Agreement with IMF possible mid April: Governor Central Bank – GDP growth seen at 6.5 pct, budget deficit at 5.9 pct vs 6.0: Governor – USD10 mln investment going into East, says Brandix – Initial discussion on FTA with Japan: Finance Minister Singapore, Mar 15, 2016 (LBO) – The Sri Lanka Investment Summit, […]