Author: lbostgadmin
CHEC to kick off Port City project with billion dollar towers : Minister
Jan 26, 2018 (LBO) – Sri Lanka government has signed two Memorandums of Understanding with China Harbour Engineering Company (CHEC) to facilitate investment on Colombo International Finance City (CIFC) to construct a building complex and an underground marine drive road tunnel, a Minister said. “CHEC want to kick start investment and the project company has indicated […]
Sunshine Holdings invests Rs9mn to partner with investment firm
Jan 25, 2018 (LBO) – Sunshine Holdings has invested 9 million rupees to partner with Strategic Business Innovator (Pvt) Ltd, an investment firm to be set up in Sri Lanka.Sunshine Holdings is currently in partnership with Singapore based SBI Ven Holdings (Pvt) Ltd, a subsidiary of SBI Holdings and veteran investment banker Viraj Malawana to […]
Sri Lanka’s eZ Cash launches QR Functionality on App
Jan 25, 2018 (LBO) – Sri Lanka’s eZ Cash, a mobile money and payment service has launched the Quick Response (QR) code feature on its app enabling users to “Scan to Pay” and “Scan to Transfer” through their smartphone. The latest QR code based “Scan & Pay” feature will be available via the eZ Cash app […]
‘s, Explores FTA option
Jan 25, 2018 (LBO) – President of Indonesia Joko Widodo in the island on a offical vist met with Sri Lanka’s President and exchanged views on the progress and challenges in the bilateral cooperation and agreed to enhance cooperation for the mutual benefit. President Widodo conveyed Indonesia’s commitment to contribute towards Sri Lanka’s development, particularly in infrastructure and connectivity. Both […]
‘s Softlogic Holdings plans Rs7bn equity sale
Jan 25, 2018 (LBO) – Softlogic Holdings PLC has come to an agreement with Samena Ceylon Holdings Ltd., a Mauritius based firm to raise 7 billion rupees from a placement of shares to raise private equity. The board of directors of Softlogic has decided to place 182.22 million shares with Samena Ceylon Holdings Ltd at 17 rupees a […]
‘ government guaranteed bonds at B+
Fitch Ratings has affirmed SriLankan Airlines Limited’s (SLA) US dollar-denominated government guaranteed bonds at ‘B+’. KEY RATING DRIVERS The national carrier’s bonds are rated at the same level as its parent, the Sri Lankan state (B+/Stable), due to the unconditional and irrevocable guarantee provided by the state. The state held 99.5% of SLA at end-2017 […]
Singapore FTA: What it means for Trade and Investment Flows
By Janaka Wijayasiri and Kithmina Hewage The freshly-signed Sri Lankan-Singapore FTA (SLSFTA) marks a new milestone in the relations between the two island economies. The agreement, signed on 23 January 2018, after almost 18 months of negotiations, is a modern, comprehensive, and high quality agreement. It covers a wide range of areas including goods and […]
Cost reflective pricing formula for fuel, electricity this year: CB Governor
Jan 24, 2018 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy says the government will introduce a cost reflective pricing formula for both fuel and electricity this year. The IMF said in its latest report that domestic prices of fuel and electricity are expected to be determined by a formula introduced in March and […]
Sri Lanka assumes Presidency of Conference on Disarmament
Sri Lanka has called on member states of the Conference on Disarmament (CD) to seek to bring back the necessary attention at the highest political levels to the CD, in order to maintain the integrity and credibility of the Conference, as well as to create forward movement and momentum.Sri Lanka’s Permanent Representative to the UN […]
Oscars 2018: The list of nominees in full
Jan 24, 2018 (LBO) – The nominations for the 90th Academy Awards was announced in Los Angeles, Tuesday with “The Shape of Water” leading list. Guillermo del Toro’s fantasy romance (The Shape of Water) received 13 nominations and World War Two drama Dunkirk lays claim for eight nominations. Meanwhile, Rachel Morrison has made Oscar history […]
Sri Lanka to develop policy framework for beauty culture industry
Jan 23, 2018 (LBO) – Sri Lanka seeks to develop a policy framework for beauty culture industry, in order to ensure the expansion, development and further uninhibited expansion and success of the sector.Policy Development Office of the Prime Minister’s Office and the Small-Scale Enterprise Division of the Ministry of National Policy and Economic Affairs is […]
‘ defensive cash flows: Fitch
Jan 23, 2018 (LBO) – Hemas Holdings acquisition of a controlling stake in Sri Lanka’s leading school and office stationery manufacturer, Atlas Axillia (Private) Limited, will bolster Hemas’ defensive operating cash flows, Fitch Ratings said. Last week, Hemas agreed to buy a 75.1 percent stake in Atlas for 5.7 billion rupees. Atlas has a strong distribution […]