Author: lbostgadmin
Sri Lanka to raise USD5Bn from Sovereign and Development Bonds in 2018
Jan 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers have given approval to raise up to US 2 billion dollars through foreign commercial borrowings and a further US 3 billion dollars from Sri Lanka Development Bonds (SLDB) to raise the funds for loan repayment and financing of development projects. The proposal was put forward by […]
I will not hesitate to bring offenders of bond scam before law: President (Full Speech)
Jan 03, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says he will bring the offenders of the bond scam before the law and recover the 11,145 million rupees loss to the public. Statement by President Maithripala Sirisena on the Report of the Presidential Commission of Inquiry May the Triple Gem Bless You First of […]
Final report of PRECIFAC handed over to President
Jan 03, 2018 (LBO) – The final report compiled by the Presidential Commission of Inquiry to Investigate and Inquire into serious acts of fraud, corruption and abuse of power, state resources and privileges (PRECIFAC) was handed over to President Maithripala Sirisena at the Presidential Secretariat, Tuesday. The report consists of 1,135 pages and was handed […]
Port City legislation to Parliament by March, Work on three towers to commence
Jan 03, 2018 (LBO) – Sri Lanka’s Port City legislation would be brought before Parliament by March while construction on the first permanent buildings are also due to commence shortly, senior officials said. These comments were made following a visit of the newly reclaimed land of the island by Prime Minister Ranil Wickremesinghe and Megapolis […]
Critical EU GSP Plus listing opens for Lankan exporters
Sri Lanka’s first ever European Union mandated GSP exporter listing call went live on the web on 2 January. “I commend the Department of Commerce under our Ministry for setting up this system and operationalising exactly on the first working day of 2018. We thank the Information and Communication Technology Agency (ICTA) for their support […]
Sri Lanka’s JKH appoints Krishan Balendra as Deputy Chairman
Jan 02, 2018 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings has appointed Krishan Balendra as Deputy Chairman while appointing Gihan Cooray as Group Finance Director of the company with effect from 01 January 2018.They have also been appointed as non-executive non-independent directors of Ceylon Cold Stores. The company said in a stock exchange […]
CA Sri Lanka revises Code of Best Practice on Corporate Governance
Jan 02, 2018 (LBO) – Institute of Chartered Accountants of Sri Lanka recently launched the revised Code of Best Practice on Corporate Governance 2017 with an aim to give leadership to corporates in the country to adhere to the best practices of corporate governance. The code of 2017 builds on the previous codes to strengthen […]
Sri Lanka Cargills bank appoints Theagarajah as new MD, CEO
Jan 02, 2018 (LBO) – The Cargills Bank has appointed Rajendra Theagarajah as its Managing Director and Chief Executive Officer effective from January 1.He joined the bank as a Non Executive Joint Deputy Chairman in December 2016 and served the bank from its inception having been its Deputy CEO and Chief Finance Officer and subsequently […]
Sri Lanka President to make official statement on 2015 bond scam tomorrow
Jan 02, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena will make a statement on recommendations regarding the final report of the Presidential Commission of Inquiry into the 2015 bond scam on January 03. The President appointed the Commission in February 2016 promising strong action against wrongdoers. The said bond was declared on the 27th February 2015 by […]
France to provide Euro 13.9Mn loan to Sri Lanka for dairy projects
Jan 01, 2018 (LBO) – The French Republic agreed to extend its assistance to Sri Lanka, by providing a Euro 13.9 million (approximately 2,514 million rupees) concessional loan for the development of the local dairy industry. The proposed project will include complete modernization of the pre-selected six mini dairy cooperative societies and organizations by establishing […]
Sri Lanka extends deadline for exchange of mutilated currency notes
Jan 01, 2018 (LBO) – Sri Lanka’s Central Bank said it had decided to extend the time period for the exchange of currency notes at Licensed Commercial Banks (LCBs ) up to 31 March 2018. The bank made the decision after members of the public revealed their difficulties in exchanging wilfully defaced currency notes at LCBs and […]
Cocaine detected by employees of Lanka Sathosa in container
July 20, 2017 (LBO) – A haul of 150 Kg of cocaine has been detected by employees of Lanka Sathosa in a container addressed to CWE (Sathosa) on Wednesday. The detection was made at the warehouse of CWE (Sathosa) Rathmalana Economic Centre. “A tender bid for sugar supplies, was called on 18 July 2017 by […]