Author: lbostgadmin
Eurocars launch new Porsche 718 Boxster models in Colombo
Eurocars the sole agent of Porsche in Sri Lanka welcomes new and exclusive mid-engine Porsche models; the 718 Boxster and 718 Boxster S. The two-seat convertibles are now more powerful yet more fuel efficient. The centerpiece of the new model series is the newly developed four-cylinder flat engine with turbocharging. The 718 Boxster develops 220 […]
Japan provides Rs2.4bn aid for Sri Lanka’s maritime safety
July 01, 2016 (LBO) – The Japanese government has granted 1,830 million Japanese Yen (Rs2.4bn) to Sri Lanka for the implementation of a maritime safety capability improvement project. The project aims to contribute to the improvement of the maritime safety capability of Sri Lanka Coast Guard by enabling them to procure two petrol vessels to […]
Asia stocks rise as risk appetite recovers, pound under fresh pressure
July 1 (Reuters) – Asian stocks rose on Friday as risk appetite continued to recover from last week’s Brexit shock, but the pound came under renewed pressure after the Bank of England’s governor hinted at an interest rate cut ahead. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent. The index has recovered nearly all the […]
‘s CCPI inflation accelerates to 6 pct in June from 4.8 pct in May
July 01, 2016 (LBO) – Sri Lanka’s inflation as measured by Colombo Consumers Price Index (CCPI) accelerated to 6.0 percent in June 2016, up from 4.8 percent, on an year-on-year basis. Inflation for food items increased from 5.6 percent in May to 8.2 percent in June 2016 while nonfood items decreased from 4.2 percent to […]
Field Marshal Sarath Fonseka obtains UNP membership
Field Marshal Sarath Fonseka obtained the UNP membership from UNP leader and Prime Minister Ranil Wickremesinghe at the UNP headquarters in Sirikotha today.
Charitha Ratwatte to take up Governor position for two months: Source
June 30, 2016 (LBO) – Charitha Ratwatte is expected to take a temporary position as the Governor of the Central Bank of Sri Lanka, a government source told Lanka Business Online. The appointment of the former Treasury Secretary would be for two months, the source added. An official announcement has not been made yet. On […]
Hans Wijayasuriya wins outstanding Asia mobile contribution award
July 01, 2016 (LBO) – Hans Wijayasuriya, group CEO of Axiata Dialog and the regional CEO for South Asia, Axiata Group, has won the Outstanding Contribution to the Asian Mobile Industry Award given by GSMA. “The award recognises sustained or extraordinary contributions by individuals, organisations or collaborative achievements that advance the value and benefits of […]
CICT launches country’s first mobile app to track movement of containers
A new level of convenience and sophistication has been introduced to keeping track of containerised cargo by Colombo International Container Terminals (CICT) with the launch of a mobile app for the purpose. A first for Sri Lanka’s port industry, CICT’s ‘eZPort’ app for smartphone users can be downloaded free from the App Store or Android […]
Sri Lankan rupee 1-wk forwards rise on bank dollar sales; stocks up
June 30 (Reuters) – Sri Lankan rupee one-week forwards rose on Thursday as a state-run bank sold dollars after the central bank intervened to lift the rupee, while dollar selling by a few exporters also helped the currency gain, dealers said. One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, […]
World Bank approves USD125mn credit to modernize Sri Lanka agriculture
June 30, 2016 (LBO) – The World Bank has approved a 125 million US dollars credit from the International Development Association to assist Sri Lanka in modernizing its agriculture sector. The project will be implemented through the Ministry of Primary Industries, the Ministry of Agriculture, and five participating provinces, including the Northern, Eastern, Central, North-Central […]
‘s new counter-terrorism legislation being finalized: Foreign Minister
June 30, 2016 (LBO) – Sri Lanka is finalizing the first draft of the new counter-terrorism legislation that will replace the Prevention of Terrorism Act, Foreign Minister Mangala Samaraweera said. Addressing the 32nd Session of the UN Human Rights Council in Geneva yesterday Samaraweera said technical assistance for this purpose has been sought from the […]
‘s social security programs to be networked: Cabinet
June 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved the Social Security Network Project to connect all social security programs, so that suitable persons have access to social security in a transparent manner. “There is no method of identifying whether the benefits of social security programs are being directed to the suitable communities,” a […]