Author: lbostgadmin
Sri Lankan IT-BPM delegation visits Sydney for market expansion
In collaboration with the Consulate General of Sri Lanka in Sydney, seven IT-BPM companies led by Information and Communication Technology Agency (ICTA) visited Sydney from 28 – 30 November 2018 on an accelerated market access programme to facilitate and support the IT industry in Sri Lanka. Under the Economic Diplomacy Program initiated by the Ministry […]
‘s stocks and bonds top $ 800mn as constitutional crisis drags on
December 3, 2018 (LBO) – Foreign selling of Sri Lanka’s stocks and bonds continues at a brisk pace in 2018 with net foreign outflows topping Rs145bn (US0mn).Since the constitutional crisis began just over one month ago, approximately Rs45bn (US$250mn) has fled Sri Lanka’s local stock and bond markets. The currency has been adversely impacted leaving […]
‘s Aitken Spence commences 150 years celebrations
Aitken Spence inaugurated its 150th Anniversary Celebrations with a religious blessings ceremony that commenced on Friday, 30th November. The ceremony was held at Aitken Spence Towers in Colombo with the participation of senior religious leaders, board of directors, senior management and long-standing staff. The religious blessings were invoked by His Eminence Malcolm Cardinal Ranjith, Venerable […]
Dialog & Ideamart launch NB-IoT Development Board to accelerate innovations
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, and Ideamart, a platform for developers and content providers, announced the production of a Narrowband – Internet of Things (NB-IoT) development board, to encourage and facilitate IoT innovations and developments in the country by the local developer community. NB-IoT is a standards-based, low power wide area (LPWA) […]
MR says Executive President has powers to call for general election
Dec 03, 2018 (LBO) – With petitions filed against the dissolution of Parliament fixed for argument on December 4, 5 and 6 disputed Prime Minister, Mahinda Rajapaksa in an address to the nation last evening showed historical instances when general elections were called to resolve political crises in the island. “From the time of our first Parliament, elections […]
‘ National Long-Term Ratings
Nov 30, 2018 (LBO) – Fitch Ratings has affirmed and simultaneously withdrawn the National Long-Term Ratings of all rated Sri Lankan insurers as the ratings are no longer considered by Fitch to be relevant to the agency’s coverage because the entities have not issued any debt. The rating agency, however, said the issuers’ existing National Insurer Financial […]
Sri Lanka BOI ink deal for USD29Mn Braybrooke Residential Towers
Nov 30, 2018 (LBO) – Sri Lanka’s state investment agency, the Board of Investment signed an agreement with Braybrooke Residential Towers (Pvt) Ltd to set up an apartment complex in Colombo 2. The total investment of this project is US 28.94 million dollars and it will generate 1730 direct employment opportunities. Hemasiri Fernando, chairman BOI […]
Sri Lanka Insurance gets new Chief and board
Nov 30, 2018 (LBO) – A new Chairman and board of Directors has been appointed to the Sri Lanka Insurance corporation with effect form 29 November 2018.Dr. K.A.S. Keeragala, a Special Grade Officer of the Sri Lanka Administrative Service with over 33 years of experience in the government service has been appointed the Executive Chairman.He also possesses excellent […]
Xiaomi officially enters the Sri Lanka market
Nov 30, 2018 (LBO) – New and innovative Chinese smartphone Xiaomi today announced its official entry into the Sri Lankan market to strengthen its presence and extend more local support to the market. “At Xiaomi, we always strive to push our boundaries and make higher level innovation accessible to all our users at honest pricing,” […]
Sri Lanka Parliament cuts budgetary allocations for Prime Minister’s office
Nov 29, 2018 (LBO) – Sri Lanka Parliament today voted for a motion to cut off budgetary allocations to the Prime Minister’s office which was approved by the House after having taken a vote, 123 in favour and 0 against. The motion, signed by UNP MPs Navin Dissanayake, Ravi Karunanayake, Nalaka Prasad Colonne, Dr. Kavinda Heshan Jayawardana, […]
Sri Lanka to construct 60MW wind and 150MW solar power plants
Nov 29, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved the procurement process for a policy framework for the construction of solar and wind power plants in the island. A 60 Mwt wind power plant and 150 Mwt solar power plant will be connected to the national grid by 2020. The proposal was […]
President reiterates appointing experienced and qualified professionals to Govt positions
Nov 28, 2018 (LBO) – Sri Lanka’s cabinet of ministers emphasised appointing experienced and qualified professionals as chairpersons and director board members, to accomplish the objectives and goals of statutory boards. Accordingly, the Cabinet of Ministers approved the proposal presented by the president Maithreepala Sirisena to appoint a committee chaired by the presidential secretary to present […]