Author: lbostgadmin
Sri Lankan business leaders discuss ‘Brexit’ with H.E. James Dauris
Top Sri Lankan business personalities met H.E James Dauris, the British High Commissioner to Sri Lanka and the Maldives, at a Horton Debate event in Colombo recently to discuss “Brexit,” the possible exit of Britain from the European Union. Among the attendees were Aelian Gunawardene, Reyaz Mihular, Sega and Sarala Nagendra, Hon. Tharaka Balasuriya, Sharm […]
EOIs called for geophysical surveys off Mannar, Cauvery Sri Lanka
May 23, 2016 (LBO) – Sri Lanka has called for expressions of interest from geophysical exploration companies to conduct gravity, gradiometry and magnetic surveys over the offshore Mannar and Cauvery basins of Sri Lanka. The Petroleum Resources Development Secretariat (PRDS) is seeking further data to strengthen its database of geophysical information on upstream petroleum sites […]
Twilight of the Petrostate and the rise of alternatives
May 23, 2016 (LBO) – Russian billionaire Petr Aven and two Moscow economists have published an article titled the “Twilight of the Petrostate” warning of alternative energy sources and cheaper extraction techniques that could hurt revenues of oil exporting nations. “The influence of the Petroleum Leviathan — the handful of producing countries with the ability […]
South-West monsoon gradually establishing over Sri Lanka: Met Dept
May 24, 2016 (LBO) – The South-west monsoon condition is gradually establishing over the country, and showers or thundershowers will occur at times in the Western, North-Western, Southern, Central and Sabaragamuwa provinces, the Met Dept said on Tuesday. “Fairly heavy to heavy falls (around 75-100mm) are also likely at some places,” a statement released at […]
Sri Lanka holds rates unchanged after policy meeting
May 20, 2016 (LBO) – Sri Lanka’s monetary board held interest rates unchanged after a monthly policy meeting taking into account among other things the Extended Fund Facility expected from the IMF and the others, that would enhance the country’s resilience to external shocks and improve investor confidence in the economy. The full statement is below: The […]
Sri Lanka reinsures uninsured citizens, property for natural disasters
May 20, 2016 (LBO) – Sri Lankan government sponsored National Insurance Trust Fund has insured all uninsured Sri Lankan citizens and uninsured properties by obtaining a catastrophic reinsurance cover of up to 10 billion rupees. The cover has been obtained from major reinsurance companies in London and other parts of the world, through Crescent Global […]
Sri Lanka’s Colombo water supply still safe: Rauff Hakeem
May 20, 2016 (LBO) – Sri Lanka’s Water Supply Minister Rauff Hakeem today rejected claims that the water intakes from Ambatale Water Treatment Plant were polluted. Speaking in Parliament the Minister assured that there is no truth to the rumor that the Kalani River water had been severely polluted with oil. “We have been constantly […]
Sri Lanka benefits from increased trade with India: OBG
May 20, 2016 (LBO) – Sri Lanka stands to benefit from efforts to strengthen economic cooperation with India particularly with a rebalancing of foreign policy, Oxford Business Group said. With talks around an expanding free trade agreement (FTA) in the works, momentum appears to be on Sri Lanka’s side. Full article is below: Thanks to […]
Private firm to build 10 Mw solar power plant in Vavuniya
May 20, 2016 (LBO) – Sri Lanka’s cabinet has decided to lease a 22 hectare state land in Nedun Kulam, Vavuniya to a private firm to build a 10 Mw solar power plant. The BOI approved Vydexa (Lanka) Power Corporation is to invest 14.5 million US dollars for the project and it would add 19 […]
PTL Watch: Yields tick slightly higher for third week
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Jordan to look into repatriation of 1,000 Sri Lankans
The Foreign Secretary of the Kingdom of Jordan Moh’dTaisir Bani Yassin, visited Sri Lanka from May 18-20, 2016 for bilateral discussions with Sri Lankan officials. The visit is a part of the ongoing engagement between the two countries to explore new avenues for increased bilateral cooperation. During the visit, the Foreign Secretary of Jordan called […]
UNDP Partners with the Private Sector to host Sri Lanka’s First National Summit on Foresight and Innovation
Ceylon Biscuits Limited and Holcim Lanka partners to co-finance Sri Lanka’s first National Summit on Foresight and Innovation for Sustainable Human Development. The Summit organized by the United Nations Development Programme (UNDP) and the Ministry of National Policies and Economic Affairs together with many core partners including the United Nations Global Compact Network Ceylon (UNGC) and […]