Author: lbostgadmin
Sri Lankan shares end higher on foreign buying
Jan 20, 2017 (Reuters) – Sri Lankan stocks closed higher on Friday led by financials, after hitting a more than one-week closing low in the previous session, on increased appetite for risky assets by foreign investors. The Colombo stock index ended up 0.08 percent at 6,169.57, edging up from its lowest close since Jan. 10 […]
New 10MW solar power plant construction to kick-off tomorrow
The foundation stone laying ceremony of a new 10MW solar power plant in Raṇamayurapura, Hambantota will be held tomorrow with the participation of Power Minister and offcials. New plant will be built under the Soorya Bala Sangramaya (Battle for Solar Energy) project of Sri Lanka Sustainable Energy Authority with the private sector investment. Power Ministry […]
Walkers CML properties sells out Richmond Hill Residencies
Walkers CML Properties (Private) Limited, a subsidiary of MTD Walkers PLC announced today that their affordable housing project Richmond Hill Residencies is sold out. Richmond Hill Residencies is Walkers CML Properties’ first affordable housing project, in Galle, and is done in partnership with the Ministry of Public Administration & Management and the Board of Investment […]
First Capital Holdings signs MOU with Oxford Business Group
(PRESS RELEASE) – Sri Lanka’s efforts to boost capital inflows through the gradual liberalisation of its trade and investment laws will be explored in a forthcoming report by the global publishing firm Oxford Business Group (OBG). The Report: Sri Lanka 2017 will look in detail at what the country’s capital markets sector is doing to […]
‘s Swarnamahal Financial Services transferred to default board
Jan 19, 2017 (LBO) – Sri Lanka’s Swarnamahal Financial Services (SFS) has been transferred to default board with with immediate effect following the Securities and Exchange Commission directive on prohibiting related party transactions, a statement said. “In view of several significant issues (which are set out in the SEC directive dated 18th January 2017), the SEC has requested the CSE […]
Sri Lanka president advises officials to brace for impending drought
Jan 19, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena has held a discussion to look into the preparations at ministerial level to provide essential relief to the public during the impending drought. A special committee comprising secretaries of the ministries of power and energy, mahaweli and water supply has been appointed to make quick […]
Sri Lanka to amend firearms ordinance
Jan 18, 2017 (LBO) – Sri Lanka’s President, as the Defence Minister, has proposed to the cabinet that the firearms ordinance should be amended as a timely requirement and for security reasons. A committee comprising of the Attorney General, Legal Draftsman, representatives of Tri-forces and other related agencies have made several observations to be included […]
New leasing scheme for vehicles comes into effect
Jan 18, 2017 (LBO) – Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for vehicle leasing including three wheelers. “The new circular has slapped additional controls over credit facilities afforded to three wheelers. Under the new leasing regulations the leasing facility offered will be 25 […]
Implementing international conventions only criteria for GSP Plus: EU
Jan 18, 2017 (LBO) – European Union today reiterated that the ratification and implementation of 27 international conventions signed by Sri Lanka are the only criteria to rejoin the Generalized Scheme of Preferences Plus (GSP+). The delegation of the European Union to Sri Lanka and Maldives said these conventions relate to international human rights, labour […]
Sri Lanka to regularize small commercial vessels
Jan 18, 2017 (LBO) – Sri Lanka’s cabinet has decided to regularize small commercial vessels that have been in service as well as new vessels including pleasure vessels used for profit or reward. Accordingly, commercial vessels, which are cargo and passenger vessels of less than 24 meters, but five meters or more in length, which […]
Iconic Galaxy breaks ground, ready for occupation by end 2020
(PRESS RELEASE) – Colombo: January 18 2017: Leading infrastructure and property developer, Iconic Developments Ltd, the developer of Iconic 110 Parliament Road, celebrated the beginning of construction of their latest housing property project, Iconic Galaxy. A ground-breaking ceremony at the site was officiated by the Chief Guest, Minister of Megapolis and Western Development, Hon Patali […]