Author: lbostgadmin
Tripartite MOU signed between BOI, EDB & Business France to enhance trade
A Memorandum of Understanding was signed between the Board of Investment of Sri Lanka, the Export Development Board of Sri Lanka and Business France today.Mr. Dumindra Ratnayake, Chairman of the BOI, Mrs.Indira Malwatte, Chairperson of the EDB and Ms Sophie Clavelier, Head of Business France, South Asia, signed the MOU on behalf of the respective […]
Arpico Finance, Associated Motor Finance merger to be completed by Nov 2019
July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to be completed with their legal merger by November 2019. Associated Motor Finance said in a stock exchange filing that they are not able to inform the shareholders as to the […]
Government uses an unseen formula to manipulate fuel prices: MR
July 12, 2018 (LBO) – Sri Lanka’s ex-President Mahinda Rajapaksa alleges the government for what he called fleecing the public through fuel price manipulation using a price formula which nobody has seen. Rajapaksa says even though this kind of price manipulation is a standard practice in the large-scale retail industry, it is quite clear that […]
British High Commissioner to Sri Lanka visits LSEG Sri Lanka
A delegation led by British High Commissioner to Sri Lanka and Ambassador to Maldives, H.E. James Dauris visited London Stock Exchange Group (LSEG) Sri Lanka at the Group’s facility in Trace Expert City, Colombo 10. The High Commissioner was welcomed by Dee Liyanwela, Head of LSEG Sri Lanka along with members of the leadership team. […]
Amnesty International against Sri Lanka on death penalty
July 12, 2018 (LBO) – Sri Lanka must pull back from any plans to implement the death penalty and preserve its longstanding positive record on shunning this cruel and irreversible punishment, Amnesty International said. The Sri Lankan President, Maithripala Srisena, is pressing ahead with plans to execute 19 death row prisoners convicted of drug-related offenses. […]
Ambeon Holdings announces an interim dividend of 1.25 rupees per share
Subsequent to the transformation and repositioning of the Ambeon Group, which included restructuring of its diversified businesses to bring about collective focus, optimize investments and increase shareholder value, Ambeon Holdings PLC announced today of an interim dividend to all its shareholders. The total dividend payout announced is LKR 446 million translating into LKR. 1.25 per […]
Sri Lankan scents inspire high fashion fragrance
July 12, 2018 (LBO) – Sri Lankan scents are the inspiration for one of the latest perfumes by Boucheron Paris.The fragrance will be available exclusively at Harrods department store in July. From www.cosmeticsbusiness.com: “Luxury French perfume brand Boucheron Paris has introduced a new fragrance inspired by Sri Lanka. Nathalie Lorson is responsible for creating the […]
Tri Forces for controlling drugs, President ready to execute death penalty
July 12, 2018 (LBO) – Sri Lanka’s cabinet has approved a proposal to draft a Drug Controlling Special Provision Bill empowering the authorities to use Tri Forces for the control of drug menace.The proposal made by President as the Defence Minister and Minister of Law and Peace Ranjith Maddumabandara propose that the Tri Forces be […]
Transparency in tender procedures vital for attracting FDI inflows to Sri Lanka :EU
Jul 11, 2018 (LBO) – The 6th EU- Sri Lanka investor dialogue was held at the Ministry of Development Strategies and International Trade recently. Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities. “We have managed to resolve many of the issues that […]
Cabinet approves Light Rail Transit Project from Colombo Fort to Malabe
July 11, 2018 (LBO) – Cabinet nod has been received to implement an elevated Light Rail Transit (LRT) line from Multi-Modal Transport Centre in Colombo Fort to Malabe.According to the proposal presented by Megapolis Minister Champika Ranawaka, 17 km long, two light railways will be built under the Japanese funded project.Malabe to Fort is a […]
First Capital downgrades exchange rate target to 161 rupees for end 2018
July 11, 2018 (LBO) – First Capital Research said they downgraded their exchange rate target from 159 rupees to 161 rupees per dollar for end 2018 since a stronger dollar is more likely in the coming months. With four fed rate hikes on the cards over next 12 months, First Capital Research said they are […]
Prevailing political uncertainty affects investor confidence: First Capital Research
July 11, 2018 (LBO) – Prevailing policy uncertainty created through the political uncertainty is a major deterrent which may slow down the gradual improvement of the economy and business confidence, a recent research showed. First Capital Research in its mid-year economic outlook said a major factor that is creating uncertainty in the upcoming Presidential Election […]