Author: lbostgadmin
Japan extends 38 billion yen development loan to Sri Lanka
May 28, 2016 (LBO) – Japanese Prime Minister has offered a 38 billion yen (USD344 million) development assistance loan to Sri Lanka for water purification projects for Kidney diseases and establishment of electricity transmission lines connecting the entire country. Prime Minister Abe has also thanked President Sirisena for raising Asia’s voice and explaining the Asian perspective […]
Sri Lanka’s power regulator ask licensees for regulatory accounts
Public Utilities Commission of Sri Lanka has issued a set of accountancy guidelines to licensees who are in the business of electricity generation; transmission and distribution, in order to gain more information for the process of regulatory decisions making. According to the tariff methodology designed by the Commission, the determination of allowed revenue requires information […]
President calls on developed nations to invest in Sri Lanka
May 27, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena on Friday called on developed nations and multilateral and bi-lateral investors to invest in Sri Lanka as the country lack finances for extensive development efforts. Addressing the G 7 Outreach Summit today in Ise-Shima in Japan, he said that with a revolutionary change of governance, […]
IIT launches Sri Lanka’s first MSc in big data analytics
Informatics Institute of Technology (IIT) announced a groundbreaking partnership with Robert Gordon University, Scotland to deliver a Big Data Analytics MSc post graduate degree programme.Industry leaders applaud this milestone as a much needed programme in the context of Big Data trends in the world today and feel it will help in national competitiveness as there […]
‘s Abe warns of global crisis
May 27 (Reuters) – The Group of Seven industrial powers pledged on Friday to seek strong global growth, while papering over differences on currencies and stimulus policies and expressing concern over North Korea, Russia and maritime disputes involving China. G7 leaders wrapped up a summit in central Japan vowing to use “all policy tools” to […]
Sri Lanka increases taxes for cars over 1000cc
May 27, 2016 (LBO) – Prices of vehicles above 1000 cubic centimeter engine capacity will increase following the increase of the minimum unit tax from today, the Vehicle Importers Association said. “Prices may go up by about 100,000 to 150,000 rupees while larger cars and Sports Utility range will see a steeper rise,” the association […]
World Bank team concludes visit to Sri Lanka
May 27, 2016 (LBO) – The World Bank Board of Executive Directors completed a five-day visit including site inspections on work being implemented under the Bank supported projects in the island. During the five-day visit, the team met with President Maithripala Sirisena, Prime Minister Ranil Wickremesinghe and Minister of Finance Ravi Karunanayake to understand the current […]
Sunshine Packaging receives USD2mn foreign capital infusion
May 27, 2016 (LBO) – Sri Lanka’s Sunshine Packaging, a subsidiary of listed Sunshine Holdings, have been infused equity capital of 2 million US dollars by a Hong Kong company called Primeco Holdings. Sunshine Packaging Lanka said in a stock exchange filing that they have agreed to issue 23,766,671 new shares amounting to 40 percent […]
CEB failed to recognize renewable energy potential: SEMA Chairman
May 27, 2016 (LBO) – Sri Lanka’s state-owned Ceylon Electricity Board has failed to recognize the changing dynamics of the energy world when preparing their long term generation plan, an energy analyst charged. Chairman of the Strategic Enterprise Management Agency (SEMA), Asoka Abeygunawardane, told a public lecture on Thursday that the CEB has even failed […]
LankaClear celebrates a decade of T+1 cheque clearing
LankaClear (Pvt) Ltd., the company that operates LankaPay – the National Payment Network of Sri Lanka and functions under the supervision and guidance of the Central Bank, celebrated the 10th year anniversary of launching their revolutionary Cheque Imaging and Truncation System (CITS) recently. CITS handles all the domestic interbank rupee cheque clearings in the country. […]
University of Wales MBA Society to launch with “Encoro”
The official University of Wales- MBA Society in Sri Lanka was established for the first time to commemorate the seasoned professionals currently enrolled in the program as well as the highly recognized and competent alumni of the program scattered in various multinationals and blue chip corporates in Sri Lanka and overseas. We believe that the […]
SL Funds: Equity Unit Trusts now outperform market, says Guardian Acuity
May 27, 2016 (LBO) – There’s good news in fund management. Most of the professionally managed funds that invest in the Colombo market tend to outperform the market. In 2014, for instance, the Guardian Acuity Equity Fund, gave a return of 37.9 percent, compared with the All Share Price Index (ASPI) which rallied 23.4 percent. […]