Author: lbostgadmin
Sri Lanka’s Coffee Bean and Tea Leaf opens Rs 50mn store in Colombo
Apr 05, 2015 (LBO) –Sri Lanka’s Coffee Bean and Tea Leaf, Californian coffee brand founded in 1963 in Los Angeles, has opened a new coffee store with an investment about 50 million rupees to cater to the trending coffee demand, an official said. “Other fast developing countries have shown the same pattern that Sri Lanka […]
Sri Lankan Airlines former chairman should be prosecuted; $2.3bn airbus deal to be probed
Apr 04, 2015 (LBO) – The board appointed to inquire Sri Lankan Airlines has recommended a criminal investigation into the entire re-fleeting process, a statement issued by the Prime Minister’s office said.“The former government of President Mahinda Rajapakse made management changes to carry out a re-fleeting of the airline with brand-new aircraft costing $2.3 billion […]
Apple releases demo videos to introduce ‘Apple Watch’
Apr 04, 2015 (LBO) – American multinational corporation, Apple recently released a series of videos demonstrating their first ever smartwatch that enters the wearables market this month. This anticipated watch which will bring an entirely new way to receive information at a glance; begins accepting preorders on 10 April 2015 and will be available in […]
Sri Lanka get ¥ 550mn Japanese grant to develop rail network and agricultural facilities
Apr 03,2015 (LBO) – Sri Lanka’s Cabinet spokesmen Rajitha Senaratne said, the government of Japan has agreed to provide grant assistance under non- project grant aid amounting to Japanese Yen 500 million or 550 million rupees for Japanese equipment to develop the islands railway network and agricultural facilities. The equipment to be obtained under this […]
Sri Lanka new rulers to enact laws to punish those who make “Hate Speech”
Apr 03, 2014 (LBO) – Sri Lanka’s new rulers’ plan to revise the Penal Code that would make Hate Speech, a punishable offence, Cabinet Spokesman Rajitha Senarathne said Friday. “Those who make hate speech will be punished by two years in prison,” Senanrathne told reporters at a media briefing held in Colombo.The lessons learnt and […]
SriLankan, a corrupted airline without any aircrafts as assets: PM
Apr 02, 2015 (LBO) – State owned SriLankan airlines is a huge burden on the country even though it does not own any aircraft’s at present, Prime Minister Ranil Wickremesinghe said. Accepting the first copy of a report on SriLankan Airlines, Wickremesinghe told reporters Wednesday that the procurement procedure and power abuse was comprehensively investigated […]
Sri Lanka has over Rs 300bn unpaid road develpment bills: “We are in a major mess”: Kabir Hashim
Apr 02, 2015 (LBO) – Sri Lanka’s Minister of Highways and Investment Promotion says, the government has over 300 billion rupees of bills to be paid for unsolicited proposals and contracts without agreements for roads building. “That’s a colossal amount,” Kabir Hashim, Minister of Investment Promotion and Highways told reporters at a press conference held […]
Sri Lanka stocks close up 0.5-pct
Apr 02, 2015 (LBO) – Sri Lanka’s stocks closed higher for the third consecutive day with Access Engineering gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 32.06 points higher at 6,948.14 up 0.46 per cent. The S&P SL20 closed 8.91 points higher at 3,909.58 up 0.23 per cent. […]
Sri Lanka is dreaming of Singapore and living in Ethiopia: Finance Minister
Apr 02, 2015 (LBO) – Sri Lanka’s Finance Minister says even though the customs department started 24 seven operations last month, the service has not been used to the maximum by the importers and exporters, which is like dreaming of Singapour and living in Ethiopia.“We have brought Singapore access through the Customs extending their services […]
”” rating:Fitch
Apr 02, 2015 (LBO) – Sri Lanka’s Amana Bank PLC’s has been rated at ‘BB(lka), National Long-Term Rating ‘ with a Stable Outlook, Fitch rating said. KEY RATING DRIVERS Amana’s rating reflects its small and developing domestic franchise, and limited track record. The bank started operations in 2011 as a Sharia-compliant bank and accounted for […]