Author: lbostgadmin
CEAT Kelani to invest Rs3Bn in local tyre industry , Eyes US market
Jan 11, 2018 (LBO) – Sri Lankan tyre manufacturer, CEAT Kelani said they will invest 3 billion rupees in the local industry over next two years. Unveiling its masterplan to local media the Indo-Lanka Company said it will set up a new truck bus radial tyreplant while also doubling production of radials and motorcycle tyres and […]
Earl & Countess of Wessex to represent Queen at Sri Lanka independence day
His Royal Highness The Prince Edward, Earl of Wessex, and Her Royal Highness The Countess of Wessex, will visit Sri Lanka from 31 January to 4 February 2018.Their Royal Highnesses will represent Her Majesty The Queen at the 70th anniversary celebration of Sri Lanka’s independence on 4 February.The Earl and Countess will travel to Colombo […]
Sri Lanka Govt issues new guideline for visa
Jan 11, 2018 (LBO) – The cabinet of ministers has given the go ahead to regularize and update the present method of visa issuing in Sri Lanka. According to the latest statement on cabinet decisions it was decided to collect visa charges in US Dollars instead of Sri Lankan Rupees and to add following to […]
RCL commences Colombo-Tuticorin new feeder service at JCT
Regional Container Line (RCL) commenced a new twice weekly feeder service connecting Colombo with Tuticorin, the second largest port in Tamil Nadu state, India. MV CHARLIE with the capacity of 1,730 TEUs will be deployed under ‘RCL Tuticorin Colombo’ service (RTC) by RCL. The vessel will shuttle between Colombo / Tuticorin / Colombo and will […]
Sri Lanka lifts ban on sale of liquor to women
Jan 11, 2018 (LBO) – Sri Lanka’s Finace Ministry announced that the government will lift the ban on sale of liquor to women in retails outlets and employment of women in bars. Issuing a statement the ministry said that Minister of Finance Mangala Samaraweera has revoked the prohibition on selling liquor to women and employing women […]
Russian Federation wants bigger trade with Sri Lanka; talks on Tea, asbestos
Jan 10, 2018 (LBO) – Russian Federation has vowed for bigger trade with Sri Lanka, calling to dispatch a strong delegation to the trade meet scheduled in Moscow this year. Sri Lanka’s total trade (both imports and exports) with the Russian Federation which was at 435.83 million dollars in 2015, declined to 381.71 million in 2016. […]
Virtusa’s Smart ATM Recognized at The International Business Awards
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, announced that it has been awarded a Bronze Stevie Award at The 2017 International Business Awards for Best New FinTech Product or Service of the Year for the company’s Smart ATM solution, a unique […]
Piliyandala – from 15th century transit point to Colombo’s main transport hub
By Lanka Property Web Piliyandala, a popular suburb is located 18 KM south from Colombo. It ranks among the top suburbs in the western province due to population size and it’s surrounded by manybustling suburbs such as Maharagama, Moratuwa, Kesbawa and Pannipitiya. Piliyandalaconsistently managed to become a sweet spot for residences as it’s distance from […]
Central Bank still holds Rs12bn of PTL to recover any loss: PM
Jan 10, 2018 (LBO) – Sri Lanka’s Prime Minister told Parliament Wednesday that the Central Bank has 12 billion rupees of Perpetual Treasuries Limited in order to recover any loss from the controversial bond issue.As revealed during the investigations, Perpetual Treasuries Limited has made a profit of 11.14 billion rupees in the secondary market while […]
Hayleys Energy Services completes oil rig offloading project in Trincomalee
Hayleys Energy Services, the pioneer in Oil and Gas support services in Sri Lanka, announced that it had successfully completed the offloading of the Semi-Submersible oil rig Olinda Star at the Trincomalee Port Anchorage recently.This deep-water rig is capable of drilling at water depths of up to 3,600 feet and has a drilling depth capacity […]
LVL Energy Fund rings opening bell at Colombo Stock Exchange
LVL Energy Fund Limited (LVEF) rang the opening bell to commence trading and celebrate the listing of its shares at the Colombo Stock Exchange (CSE) today. The listing follows a successful Initial Public Offering by the company, through which it raised Rs. 1.2 billion through a 120 million share issue. Director/CEO of LVL Energy Fund […]
IFC, CB partner to create Sri Lanka’s first national financial inclusion strategy
Jan 09, 2018 (LBO) – IFC, a member of the World Bank Group has partnered with the Central Bank to develop the country’s first National Financial Inclusion Strategy (NFIS). The strategy will promote a more effective and efficient process to improve financial inclusion across Sri Lanka. IFC, over the course of the project, will provide […]