Author: lbostgadmin
Supreme Court says NBT amendment consistent with constitution
Sept 22, 2016 (LBO) – Sri Lanka’s Speaker of Parliament informing the Supreme Court determination today said the Nation Building Tax amendment bill is not inconsistent with the constitution. A public interest litigant activist filed a petition in the Supreme Court challenging the Nation Building Tax bill charging that it imposes retrospective tax liability. The […]
I am determined to alleviate poverty: President Sirisena at UNGA
Sept 22, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena says he established the rule of law and restored democratic rights of the country by ending fear. Addressing the 71st session of the United Nations General Assembly he said the world today is full of hate, violence and fear. “Before I came to power, people […]
President meets Obama, John Kerry and Ban Ki-moon at UNGA
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Korean Film Festival 2016 in Colombo, Sri Lanka
Following on the success of last year’s event, the Embassy of the Republic of Korea in Sri Lanka and the Korea Foundation will co-host the Korean Film Festival 2016 from October 14 to October 17 at the National Film Corporation (NFC) Theatre, Colombo 7, in partnership with the National Film Corporation of Sri Lanka. The […]
‘s rating at BB+(lka)
Fitch Ratings Lanka has today affirmed Alliance Finance Company PLC’s (AFC) National Long-Term Rating at ‘BB+(lka)’ with a Stable Outlook. At the same time Fitch affirmed AFC’s outstanding senior unsecured debentures at ‘BB+(lka)’ and outstanding subordinated debentures at ‘BB(lka)’. KEY RATING DRIVERS NATIONAL RATING AND SENIOR DEBT AFC’s rating reflects its established but modest franchise […]
‘s Financial Intel Unit signs MOU with Singapore authority
Sept 22, 2016 (LBO) – The Financial Intelligence Unit of the Central Bank of Sri Lanka (FIU) has entered into a memorandum of understanding with the Suspicious Transaction Reporting Office of Singapore (STRO) to facilitate exchange of information on money laundering and terrorist financing. The MOU has been entered into “within the framework of each […]
Opinion: Sampur Coal Power Plant, how did it get environmental clearance?
By Vidhura Ralapanawa The Trincomalee Coal Power Plant (TCPP), a joint venture between Ceylon Electricity Board (CEB) and Indian coal power giant NTPC, was planning to build a 500MW subcritical coal power plant in Sampur, in the Eastern coast of Sri Lanka. The Environmental Impact Assessment (EIA) of the project is replete with errors of […]
Infrastructure: Port city to transform Colombo, boost facilities
Sep 22, 2016 (LBO) – Sri Lanka’s planned Port City project says its vision is to offer a modern and sustainable lifestyle without comprising services delivered to attract high net-worth individuals in the region. Several hectares of public parks will increase facilities available to the public and the amount of commercial office space in Colombo […]
Asian shares surge, dollar lags on slow-motion Fed
SINGAPORE/SYDNEY, Sept 22 (Reuters) – Asian shares surged on Thursday, taking their cue from Wall Street, after the Federal Reserve left U.S. interest rates unchanged and slowed the pace of future hikes, slugging the dollar and lifting commodity prices. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.9 percent in its sixth straight session […]
Kumar Sangakkara Kicks OffMurali Harmony Cup 2016
(PRESS RELEASE) – The Murali Harmony Cup 2016 was declared open today (20th September 2016) in Kilinochchi. 24 teams will compete in this year’s blockbuster tournament featuring as many as ten newcomers to have a chance at winning the coveted Champions trophy and bragging rights in the men’s and women’s segments respectively. Speaking at the […]
Sri Lanka nationwide inflation declines to 4.5-pct in Aug 2016
Sept 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index declined to 4.5 percent in August from the 5.8 percent reported a month earlier on an yearly basis, data from the state statistics office showed. In August 2016, the contribution to the inflation from food group and non-food group […]
Yacht operator says Merchant Shipping blocks business
Sept 21, 2016 (LBO) – Sri Lankan Aggressor, a yacht named after the island, has been blocked by the Secretariat of Merchant Shipping from registering pending IACS classification. Releasing a statement, Yacht operator TVB Group said they delayed the launch of their new ‘Aggressor’ branded Super Luxury Liveaboard Yacht in Sri Lanka due to this […]