Author: lbostgadmin
Mitra Innovation expands operations into Europe – opens office in Germany
Sept 25, 2018 (LBO) – Mitra Innovation recently announced the launch of engineering and client servicing operations in Germany.The expansion into Germany further strengthens Mitra Innovation’s presence in the European region. Co-founder and CEO – Ashok Suppiah said “As part of our strategic global expansion plans, Mitra Innovation is delighted to announce its first European […]
Feature: Building Sri Lanka’s resilience to climate change
By World Bank 38-year-old Sivasidambaram Vasugi is the General Manager of one of the first cooperative-owned seed paddy processing centers in Killinochchi, Si Lanka. The Integrated Farmers Thrift and Credit Cooperative Society (IFTCCS) provides local farmers with high-quality seeds, but these days, there are no buyers walking in the door. Her community is facing a […]
Maldives elects new President: Abdulla Yameen concedes defeat
Sept 24, 2018 (LBO) – The Maldives, has voted Ibrahim Mohamed Solih, the opposition candidate, as the islands new President, foreign media reports said. Incumbent Abdulla Yameen, conceding defeat said, the citizens of the Maldives had their say and I accept that result. “I have congratulated him,” media reports quoted the out going President as saying. Solih […]
“Sri Lanka Socio-Economic Data – 2018”, now available
Sept 24, 2018 (LBO) – “Sri Lanka Socio-Economic Data – 2018”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 41st volume of the series. This easy- to- carry data folder contains information categorized under 14 topics, namely, Country Profile; […]
Sri Lankan tech firm Auxenta in ‘30 Most Innovative Companies to Watch 2018’
Sept 21, 2018 (LBO) – The fast-growing boutique technology solutions firm, Auxenta, is proud to be named as one of ‘30 Most Innovative Companies to Watch for 2018’, with some of the leading tech firms around the globe. Headquartered in Silicon Valley, USA, Auxenta is an innovative software engineering services and technology product consulting company. It works […]
‘s rupee hits record lows as Central Bank hold rates
Sept 21, 2018 (LBO) – Sri Lanka’s rupee hit an all time low of 168.65/169.00 to the US dollar at the close of day Thursday down from 167.10 the day before as the Central Bank of Sri Lanka held rates. Sri Lanka’s Minister of Finance Mangala Samaraweera releasing a statement said that Sri Lanka has been […]
World Bank says action needed to prevent impacts from climate change in Sri Lanka
Sept 20, 2018 (LBO) – Rising temperatures and changing rainfall patterns pose a threat to Sri Lanka and could reduce GDP and living standards, a new World Bank report says. The report South Asia’s Hotspots: The Impact of Temperature and Precipitation Changes on Living Standards flags that almost half of South Asia’s population now lives in vulnerable […]
‘s fruits and vegetables
Sept 20, 2018 (LBO) – A Memorendem of Understanding has been signed between the Ministry of National Policies and Economic Affairs and the Government of India, to commence the construction of the largest cold storage in Sri Lanka for vegetables and fruits. According to the MoU signed at the Indian High Commission in Colombo, with […]
‘s Access gets Col 02 land for Rs.1.1 Bn
Sept 20, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved the lease of a prime land block in the Colombo’s central business district to Access Realties, a local real estate developer, s statement said. The land area of 114.56 perches has been leased on a 99 year lease for 1.1 billion rupees, a recently […]
Cabinet nod for 500MW LNG plant in Kerawalapitiya
Sept 20, 2018 (LBO) – – The Ceylon Electricity Board has been given cabinet approval to sign an agreement with India’s NTC to build and 500 Meggawatt liquefied natural gas power plant, a cabinet statement said. The new LNG plant will be built in Kerawalapitiya and is an agreement between the two governments. The cabinet proposal was […]
Margin deposit requirement against LCs opened with commercial banks for vehicles
Sept 20, 2018 (LBO) – The Monetary Board of the Central Bank of Sri Lanka imposed a 100 per cent margin deposit requirement against Letters of Credit opened with the commercial banks for the import of motor vehicles,which are generally used for non-commercial purposes,with immediateeffect.Accordingly, Letters of Credit for the importation of these vehicle categories […]
Pelwatte Dairy commissions new milk powder plant
Sept 19, 2018 (LBO) – Pelwatte Dairy Industries Limited, a local dairy manufacturer expanded its operations by commissioning a brand new milk powder plant within its factory complex in Buttala. The plant increased the company’s daily raw milk inflow capacity to 300,000 litres. “Annually Sri Lanka imports over 90,000 tons of milk powder spending millions […]