Author: lbostgadmin
MR says Missing Persons Office will betray armed forces
Sri Lanka ex-president Mahinda Rajapaksa says the proposed bill to set up an office of missing persons has been designed to persecute armed forces. Releasing a media statement, the former President said that this is one of several institutions to be established ‘to deal with the past’ in terms of the UNHRC resolution that the […]
SEC blocks sale of Agalawatte Plantation shares in directive
July 20, 2016 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) in a directive to Claridge Stockbrokers says the sales proceeds of 304 million rupees for 15.2 million shares of Agalawatte Plantations must be withheld pending an investigation. Nirmalie Samaratunga and M. J. Varma had complained to the SEC that 60.8 percent of the […]
Sri Lankan rupee falls on importer dollar demand; stocks up
July 20, 2016 (Reuters) – The Sri Lankan rupee fell on Wednesday due to dollar demand from importers, even as a top central bank official said proceeds from a sovereign bond issue, which dealers say would lift the local currency, have flowed in. “Once the money comes in, it is obviously part of our reserves,” […]
Sri Lanka Economic Summit to discuss struggles to tap agribusiness potential
‘The Sri Lanka Economic Summit 2016’ organized by the Ceylon Chamber of Commerce has allocated the ‘Session 6’ of the two day event to discuss why the country’s agriculture sector despite the vast promise is still punching below its weight. The session, titled ‘Commercial Agriculture – Tackling the Competitiveness and Political Challenges,’ will accordingly focus […]
PTL Watch: Yields tick higher ahead of policy decision
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‘s progress on commitments important for GSP+, euro 210 mn grants: EU
July 20, 2016 (LBO) – European Union has drawn the attention of Sri Lankan officials to the importance of continued positive progress in fulfilling Sri Lanka’s commitments in parallel to obtaining GSP+. At the 20th European Union-Sri Lanka Joint Commission meeting which took place in Brussels on 19 July 2016, the representatives of EU welcomed […]
Operational aspects more important than startup valuation: Nissanka
July 20, 2016 (LBO) – Operational aspects of startup IT companies are more important than discussions over valuation, a venture capital expert said at a forum recently. “For each of the successes, there are tombstones that you don’t want to talk about,” Nissanka Weerasekera, a well known VC investor tied to Sunshine Holdings and the […]
Sri Lanka’s Tokyo Cement on roadshow with U.S. funds
July 20, 2016 (LBO) – Members of Sri Lankan cement producer Tokyo Cement’s (TKYO SL) management team are in the U.S. this week meeting with global investment funds to discuss the company’s expansion plans. The visit led by CFO Vishwa Kuruwita is the company’s first investor roadshow in the U.S., where the management team is […]
Sri Lanka’s Hayleys acquires Maldivian resort for USD23mn
July 18, 2016 (LBO) – Sri Lanka’s Hayleys PLC has acquired a Maldivian resort named Kudarah Island Resort through their subsidiary Luxury Resort private limited for 23 million US dollars. Hayleys said in a statement that Kudarah Island Resort located in South Ari Atoll consists of 51 luxury villas, which is adjacent to the popular […]
Singapore leaders pledges support for Sri Lanka
Singapore President Tony Tan Keng Yam and Prime Minister Lee Hsien Loong have pledged to support Sri Lanka when they met Prime Minister Ranil Wickremesinghe today.
Sri Lanka’s Port City to apply its own economic, commercial laws: PM
July 18, 2016 (LBO) – The proposed Financial City better known as the Port City will function as a special jurisdiction area with its own economic and commercial laws to facilitate operations of global multinational corporations, Prime Minister said. Delivering the keynote address at the third South Asian Diaspora Convention, Prime Minister Ranil Wickremesinghe said […]
LBR LBO Infrastructure Summit 2016 – “Realizing The Transformative Power of The Western Region Development: Opportunities and Challenges”
Topic: Realizing The Transformative Power of The Western Region Development: Opportunities and Challenges Date/Time/Venue: 6.00 PM Tuesday, 20th September 2016, Liberty Ballroom, Ramada 8.30 – 5.30 Wednesday, 21st September 2016 – OAK Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | 071 176 0167 […]