Author: lbostgadmin
MAS opens 2nd industrial park, plans to invest USD 28mn in export oriented projects
(PRESS RELEASE) – With the beginning of the New Year, MAS Holdings makes preparations to commence operations at the MAS Fabric Park in Giriulla. This will become the second privately owned industrial park in the country, following the MAS Fabric Park in Thulhiriya. generic The former Kabool Lace Giriulla facility, which was shut down for […]
‘s main airport check-in time increases
Jan 05, 2017 (LBO) – Sri Lanka’s Bandaranaike International Airport day-time shut down for a runway repair has resulted in airport authorities increasing the reporting and check-in-time for flights to avoid delays. “This means that you need to arrive 5 hours early for any flight and not the usual 3 hours. So there will be […]
Oman Air introduces new baggage concept for 2017
Oman Air is delighted to announce the introduction of a new baggage piece concept for launch in January 2017. This change will help Oman Air to standardize and in many cases reduce the charges currently in place for additional luggage. All passengers travelling Oman Air from the launch of this new concept will receive one […]
Consultation task force on reconciliation handed over final report
The Consultation Task Force on Reconciliation Mechanisms officially handed over the Final Report and executive summary on the island-wide public consultations it carried out on the design of the Transitional Justice Mechanisms to Former President Chandrika Bandarnaike Kumarathunga on Tuesday the 3rd of January 2017 at the Presidential Secretariat. The report combines and provides a […]
Sri Lankan rupee weaker; moral suasion caps fall
Jan 05, 2017 (Reuters) – The Sri Lankan rupee traded weaker on Thursday due to dollar buying by foreign banks, but the central bank’s moral suasion prevented further decline, two days after the monetary authority’s chief signalled a change in its intervention policy to defend the currency. Central Bank Governor Indrajith Coomaraswamy said on Tuesday […]
Ten Value Addition Centres for fruits and vegetables to be built
Jan 04, 2017 (LBO) – Sri Lanka’s government is to establish ten Value Addition Centres adjacent to farms in public-private partnership with processing, packing and storing facilities. Co-cabinet spokesman Gayantha Karunathilaka told reporters Wednesday the government has taken steps to facilitate local farmers and entrepreneurs to export vegetables and fruits targeting foreign markets conforming to […]
Sri Lanka to have coordinating authority for science, technology and innovation
Jan 05, 2017 (LBO) – Sri Lanka’s Cabinet of Ministers has given the go ahead for setting up of a science, technology and innovation coordinating authority to enable better co-ordination of research and development institutions. “It will be done with the view of gaining the maximum outcome of investments made on science, technology and innovation for […]
Govt approves water and wastewater investments for Colombo
Jan 05, 2017 (LBO) – Sri Lanka’s cabinet has given the nod for a greater Colombo water and wastewater management improvement investment programme, a statement said. A contract of construction of underground reservoir in Gothatuwa with a capacity of 15000 m3, Gothatuwa pumping station and booster pump station and supply and laying of 1200 mm DI […]
Asanga Ranasinghe Appointed to LAUGFS Boards
(PRESS RELEASE) – LAUGFS Holdings, a diversified business conglomerate, announced the appointment of Asanga Ranasinghe to the Boards of LAUGFS Holdings and LAUGFS Gas PLC as Executive Director. He is also appointed as the Sector Managing Director of the Consumer and Retail cluster of LAUGFS Holdings, and further holds the position of the Group Marketing […]
Asian markets and oil up following Wall Street gains
HONG KONG, Jan 5 (Reuters) – Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve’s December meeting suggested a less hawkish stance from policymakers. Oil prices rose on expectations of drops in U.S. inventories. MSCI’s broadest index of Asia-Pacific stocks outside Japan gained 0.2 percent, on […]
Sri Lanka shares end near 9-mth low; foreign selling in Keells weighs
Jan 04, 2017 (Reuters) – Sri Lankan shares fell for a fourth straight session on Wednesday, to end at a near nine-month low, as investors sold large-cap shares on fears that continued foreign selling in John Keells Holdings could dampen market sentiment further. Foreign investors sold a net 745 million rupees ($4.98 million) worth of […]