Author: lbostgadmin
ABSF names ComBank MD S. Renganathan one of “Asia’s Greatest Leaders”
The Commercial Bank of Ceylon has started 2019 on a winning note, with the Bank being named one of “Asia’s Greatest Brands” and its Managing Director Mr S. Renganathan being honoured as one of “Asia’s Greatest Leaders” by the Asian Business & Social Forum (ABSF). The prestigious double accolades were presented to the Bank at […]
‘s Cussed Stock Exchange
By Dinesh Anthony Perera Sri Lanka’s only stock exchange in a bid to show activity recently obtained some good publicity. Due to a concerning lack of recent progress, things the stock exchange will achieve in the future were highlighted[1]. Also mentioned were trips abroad by senior staff[2] and the logic that things are so bad that […]
” as government support weakening
Jan 24, 2019 (LBO) – Fitch Ratings has downgraded the National Long-Term Rating and senior unsecured debentures of Housing Development Finance Corporation Bank (HDFC Bank) to ‘BB+(lka)’ from ‘BBB-(lka)’ reflecting the weakening of the sovereign’s ability to provide support. “The downgrade reflects Fitch’s assessment of HDFC Bank’s standalone strength, as we believe timely support from the […]
LSEG Technology selected by ATOM Group to power AAX digital asset exchange
LSEG Technology, London Stock Exchange Group’s technology solutions provider, today announces that Millennium ExchangeTM has been selected by ATOM Group (“ATOMTM”) for its new digital asset exchange venue AAX. Millennium Exchange’s low latency, resilient, and scalable matching engine provides market-leading performance and reliability. AAX, expected to launch in H1 2019, will be the first digital […]
US Navy conducts temporary cargo transfer initiative in Sri Lanka
Jan 23, 2019 (LBO) – United States Navy will perform a transfer operation to move cargo between planes at Bandaranaike International Airport outside Colombo from January 21 to 29, US Embassy in Colombo said. The embassy said that this is part of a larger temporary cargo transfer initiative that promotes Sri Lanka’s efforts to become […]
Sri Lanka obtains USD200Mn from WB for primary health care system
Jan 23, 2019 (LBO) – Sri Lanka is to obtain USD 200 million from the International Bank for Reconstruction and Development (IBRD) of the World Bank to implement the primary health care system strengthening project. The development objective of the proposed project is “to increase the utilization and quality of primary health care services, with an […]
Mahinda to seek mandate for constitutional reforms at next national election
Jan 23, 2019 (LBO) – Sri Lanka’s Leader of the Opposition, Mahinda Rajapaksa says that they will be putting forward their own proposals at the next national election to seek a direct mandate from the people for constitutional reforms. Releasing a statement, the ex-president says that opposing the draft constitution put forward by the present […]
Capitol TwinPeaks construction continues ahead of schedule: Sanken
Jan 23, 2019 (LBO) – Capitol TwinPeaks, the flagship venture of the Sanken Group, located on the Beira lakefront in Colombo 2, forges forward ahead of schedule with 35 floors completed to ensure timely delivery of their investment for maximum profitability, the Sanken Group said.The twin 50-storey skyscrapers feature green spaces, common areas and residential spaces, overlooking […]
SriLankan Airlines posts Rs40bn net loss for 9 months amid rising fuel prices
Jan 23, 2019 (LBO) – SriLankan Airlines said the net loss for the nine months ended 31 December 2018 was 40 billion rupees (USD135mn) against the loss for the corresponding period of previous year stood at 11 billion rupees (USD66mn). During this period, SriLankan’s net traffic revenue from core airline operations has increased to 120 […]
Chinese cement manufacturer to enter Sri Lankan market
Jan 23, 2019 (LBO) – A Chinese cement manufacturer is seeking to set up a new cement plant in the Hambantota Export Processing Zone in Sri Lanka. According to the Deputy Minister of Development Strategies and International Trade, Nalin Bandara, this is the first time a Chinese cement company is entering the local market directly. […]
Sri Lanka makes aggressive pitch for India’s MICE tourists
India’s leading trade show on business, MICE and luxury travel, the Business & Luxury Travel Mart was held at The Leela Ambience Convention Hotel in New Delhi last week. Minister of Tourism Development, Wildlife and Christian Religious Affairs John Amaratunga was the chief guest at the inauguration of the show. Speaking at the inauguration Minister […]
Parliamentary committee hands over report about recent unruly incidents
Jan 22, 2019 (LBO) – Speaker Karu Jayasuriya today received the report of the Special Parliamentary Committee that investigated into the unruly incidents in the Chamber on November 14, 15 and 16. The Committee, chaired by the Deputy Speaker says that the report has identified the Parliamentarians who were directly involved in the unruly incidents. […]