Author: lbostgadmin
‘s mobile ambitions, return of Nokia
May 19, 2016 (LBO) – The demise of Microsoft’s mobile phone ambitions is on the cards with the company selling its feature phone business to a Foxconn subsidiary. Microsoft is licensing the Nokia name for handsets back to Nokia, which has set up a new company that will make feature phones, Android-based smartphones, and tablets. […]
150 people feared dead in two Sri Lanka landslides
May 19, 2016 (LBO) – Around 150 people are feared dead after more than three days of heavy rain triggered two landslides in central Sri Lanka, disaster officials said on Wednesday, Reuters reported. Torrential rains have forced more than 223,000 people from their homes across the South Asian country, the latest official data showed. Seventeen […]
Ceylon Chamber of Commerce launches SME registry
The Ceylon Chamber of Commerce launched a ‘Registry of Small and Medium Enterprises of Sri Lanka’, thus providing a vital source to track SME operators in the country and also help local SMEs find potential business partners. The latest registry, which is the volume 1 of the issue, contains contact details and business descriptions of […]
SriLankan Cargo says record set exceeding designed capacity
May 18, 2016 (LBO) – SriLankan Cargo, the freight handling arm of state-owned SriLankan Airlines has set a record for the amount of tonnage handled during a single month reporting, 21,743 metric tonnes in March at BIA. SriLankan Airlines said the figure has surpassed the previous highest amount of 20,040 tonnes, achieved a year ago […]
Buddhist Sacred Bone Relics from Pakistan to arrive Sri Lanka
In order to be part of the most important annual Vesak Buddhist Festival falling on 21st May 2016, the government of Pakistan is providing the most sacred bone relics of Lord Buddha to Sri Lanka for exposition throughout Sri Lanka. The exposition is being organized on the request of the Sri Lankan government under the […]
Sri Lanka could issue Islamic finance sovereign bonds: official
May 18, 2016 (LBO) – Sri Lanka could issue Islamic finance sovereign bonds or ‘Sukuks’ and take the lead in becoming a regional centre for Islamic financial services, an official said. “We can think of being an Islamic Banking and Finance hub for the region,” Shibly Aziz, President Bar Association said while delivering the keynote […]
MR calls upon government to stop ‘persecuting’ armed forces
The 7th Anniversary of the war victory that amazed the whole world On 19 May 2016, we mark the 7th anniversary of the victory of our armed forces over the Liberation Tigers of Tamil Elam which had officially been designated by the United States Federal Bureau of Investigation as the world’s deadliest and most effective […]
‘s north
May 18, 2016 (LBO) – Canada together with UNDP and FAO are working to strengthen agro economic cooperatives in the Northern Sri Lanka, with a specific focus on the districts of Jaffna, Killinochchi and Mullaitivu, a statement said. “The Government of Canada under a financial envelope of six million Canadian dollars is funding the UNDP-FAO […]
Janashakthi Insurance PLC reports consolidated Profit After Tax (PAT) of Rs.358 mn for March 2016
Janashakthi Insurance PLC (Janashakthi) reported a consolidated Profit After Tax (PAT) of Rs.358 million for the quarter ended 31st March 2016, a marked Year on Year (YoY) growth of 236%. The Insurer posted these numbers on the back of a 32.8% rise in consolidated Gross Written Premium (GWP) amounting to Rs.3.3 billion for the period […]
Singapore Trade Minister with biz team to visit Sri Lanka in June
Trade, services and co-operation between Sri Lanka and Singapore as well as inward investment is projected to increase significantly with the visit of of the Hon. S. Iswaran, Minister of Trade and Industry, Singapore to Sri Lanka in June 2016. The Hon. Minister will be accompanied by a high profile business delegation including potential investors […]
Citizens Development Bank announces Rs1bn debenture issue
May 18, 2016 (LBO) – Sri Lanka’s Citizens Development Business Finance PLC (CDB), a licensed finance company, said it will issue one billion rupees in listed rated subordinated guaranteed redeemable debentures. “The main objective of the debenture issue is to raise funds for CDB to strengthen its Tier II Capital and grow its lending book,” […]
Italy to explore apparel, renewable energy prospects in Sri Lanka
May 18, 2016 (LBO) – Deputy Foreign Minister of Italy Senator Benedetto Della Vedova will make an official visit with a business delegation to Sri Lanka from today to 19 May 2016, the Foreign Ministry said. A four-member business delegation with interests in the apparel industry and renewable energy from Euro Green Power Ltd, Moving […]