Author: lbostgadmin
Sri Lanka to probe highway corruption
May 29, 2015 (LBO) –Sri Lanka’s new rulers plan to establish a corruption investigation unit in the field of highways to probe any defects in administrative,technical,financial and other procedures that would cause a major loss to the government as the former regime has invested a lot in the field of highways. The proposal was made […]
Sri Lanka to obtain USD60mn loan from OPEC for road rehabilitation
May 29, 2015 (LBO) – Sri Lanka will obtain a loan facility of US 60 million dollars from the development fund of Oil Producing and Exporting Countries (OPEC) to rehabilitate and renovate the road from Baddula to Chenkaladi.The Cabinet has given approval for the proposal made by the Minister of Finance, Ravi Karunanayake to entre […]
Sri Lanka sign USD107mn deal for road development with ADB
May 29, 2015 (LBO) – Sri Lanka’s government signed a US 107 million dollar road development loan agreement with the Asian Development Bank (ADB), the bank said in a statement.“The US 107 million dollar second tranche loan agreement is part of a US 800 million dollar multi-tranche financing facility to upgrade roads,” the statement said. […]
”’: Fitch
May 29, 2015 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar denominated bonds an expected rating of ‘BB-(EXP)’. The full statement follows Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar denominated bonds an expected rating of ‘BB-(EXP)’. KEY RATING DRIVERS The expected rating is in line with Sri Lanka’s Long-Term Foreign […]
Sri Lanka to fill 33 vacancies of mission heads soon; 17 from Sri Lanka Foreign Service
May 29, 2015 (LBO) – Sri Lanka’s Foreign Ministry says they have already identified 33 persons to be appointed as new Heads of Missions and is in the process of gettings approvals from the different countries.Newly appointed spokesperson of the Foreign Ministry Mahishini Colonne on Wednesday told reporters that out of the 33 persons, 17 are […]
Sri Lanka stocks close higher 0.03-pct
May 28, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.03 percent with foreigners continuing to be net sellers for a third consecutive day, brokers said. The Colombo benchmark All Share Price Index closed 2.21 points higher at 7,255.71 up 0.03 percent. The S&P SL20 closed 4.18 points higher at 4,035.04 up 0.10 percent. Turnover […]
Sri Lanka to form a committee to discuss and finalize 20th amendment
May 28, 2015 (LBO) – Sri Lanka’s cabinet spokesman said that, a committee will be formed including the President, Prime Minister, interested parties in the cabinet and minority party leaders to discuss and make a final decision regarding the 20th amendment to the constitution.Cabinet Spokesman Rajitha Senaratne said that President Sirisena submitted a cabinet paper […]
Sri Lanka to develop BIA infrastructure facilities with Rs49bn of Japan funding
May 28, 2015 (LBO) – Sri Lanka plan to the develop essential infrastructure facilities of Bandaranaike International Airport with Japan funding of 48,969 million rupees, cabinet spokesperson said.It is expected to double the annual passenger handling capacities of the airport from the current volume of 7.4 million to 15 million by the year 2020.In this […]
‘s CSE says 25-pct price appreciation in 28 companies
May 28, 2015 (LBO) – Sri Lanka’s stock exchange has witnessed a number of stocks appreciate in price during the first few months of this year, with nearly 87 stocks showing an increase in price of over 5 percent, of which nearly 28 stocks have shown a price appreciation of 25 percent. Releasing a midyear […]
Lux launches limited edition fragrance soap collection in Sri Lanka
May 28, 2015 (LBO) – Lux on Wednesday unveiled their latest Lux star collection, a limited edition collection co-created with Deepika Padukone and with a new fragrance by master perfumer Alessandra Vinksnaitis. Sri Lanka’s gorgeous star, Pooja Umashanker who launched the two new soaps said she was delighted with the captivating fragrance of these soaps.“To […]
Sri Lanka keen to attract German investments: Minister
May 28, 2015 (LBO) – Sri Lanka is keen to attract German investments due to their high standards of manufacturing, a Minister said in a statement. “With regard to German companies we are keen to attract investments due to their excellence in engineering and very high standards of manufacturing,” Eran Wickramaratne, deputy minister for highways […]
Sri Lanka manufacturer puts up Rs80mn roofing products factory supported by USAID
May 28, 2015 (LBO) – Sri Lanka’s roofing products manufacturer, Building Solutions on Wednesday commenced operations at a new eco-friendly roofing products factory jointly funded by USAID. The factory built at a cost of 80 million rupees is located in Ampara and produces corrugated steel roofing and silos, generating hundreds of local jobs. Apart from […]