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Sri Lanka’s Hayleys and UNDP to promote seaweed farming in North
Jun 19, 2015 (LBO) – Sri Lanka’s Hayleys Aquagri, a subsidiary of Hayleys Group with the United Nations Development Programme (UNDP) said they would support to expand seaweed farming in select islands in the Islands Jaffna District, a statement said. Joern Soerensen, UNDP Country Director and Hayleys Agriculture Holdings, Managing Director and Executive Director of […]
Tokyo Cement to produce manufactured sand through JV
June 19, 2015 (LBO) – Sri Lanka’s Tokyo Cement is to invest in a joint venture to produce high quality manufactured sand and aggregates for concrete, the company said in a stock exchange filing.A subsidiary will be incorporated for this purpose by the name of Tokyo Super Aggregate Limited with 51 percent equity participation by […]
Sri Lanka’s EDB to tap Canadian market through increased connectivity
June 19, 2015 (LBO) – Sri Lanka’s Export Development Board (EDB) has partnered with the Trade Facilitation Office of Canada to enhance EDB’s capacity to assist small and medium sized exporters.The Canadian market access and capacity building services program includes Canadian market familiarization tours, market entry study and training programs, the Canadian High Commission said […]
SMEs to drive banking loan growth going forward: Asia Securities
June 19, 2015 (LBO) – Sri Lanka Asia Securities says that small and medium enterprises (SME) will drive banking loan growth going forward. “The SME sector is expected to drive the economic growth going forward,” Asia Securities says in a recently launched banking report titled ‘Banks: An Evolving Story of Elephants and Cheetahs’. Banking Loan […]
A Maldivian company to build luxury hotel in Sri Lanka with an investment of USD 3mn
June 19, 2015 (LBO) – The Board of Investment of Sri Lanka granted approval for an investment of 3 million US dollars of Alpha Kinam Holdings Lanka, a Maldivian company to set up a hotel in Matale, Sri Lanka.The Nichila Oya Resort and Spa hotel which expected to complete within two years’ time period, will […]
‘t get nomination: Rajitha Senaratne
June 18, 2015 (LBO) – Sri Lanka’s President would not allow the comeback of former President Mahinda Rajapakse, and the party will not give nomination to him in the forthcoming general election, Cabinet spokesmen Rajitha Senaratne told reporters today in Colombo.“The six member committee of the SLFP met the President last evening and asked whether […]
Cabinet approves to pay Golden Key depositors
June 18, 2015 (LBO) – Sri Lanka’s government has given approval for the repayment mechanism of the golden key depositors which was submitted by Prime Minister Ranil Wickramasinghe. It has been proposed to grant reliefs to depositors of nonbank inactive financial institutions by the supplementary budget 2015 and several meetings have been held with the […]
‘s marxist JVP protest against government
June 18, 2015 (LBO) – Sri Lanka’s marxist Janatha Vimukthi Peramuna on Thursday evening held a protest march urging the government to fulfill its promises by honoring the mandate.Appointing independent commissions, passing the right to information act, ethics code for Parliamentarians, establishing the national audit commission were among slogans displayed at the protest. The protest […]
Stocks close up 0.2 pct; JKH makes gains
June 18, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.2 percent with index heavy John Keells Holdings recording gains, brokers said. The Colombo benchmark All Share Price Index closed 14.44 points higher at 7,064.15 up 0.20 percent. The S&P SL20 closed 9.57 points higher at 3,924.33 up 0.24 percent. Turnover was 566.02 million […]
SriLankan flight experiences turbulence, minor injuries to crew
June 18, 2015 (LBO) – Sri Lanka’s state airline, SriLankan Airlines’ Colombo bound flight UL 564 from Paris had experienced a turbulent weather conditions over the Arabian Sea, close to India, landed safely at BIA this morning, the airline said in a statement.The Aircraft was an Airbus 330-200. SriLankan says the flight was carrying 193 […]
Adam Capital ventures into micro credit business
Jun 18, 2015 (LBO) – Sri Lanka’s Adam Capital has incorpotared their micro credit busines under the name of Adam Capital Micro Credit private limited to explore the micro finance sector in the island.“Central Bank approval is not reqiired as the Micro Finance Act has not been passed in Parliament.” the company said in a […]
‘l bids to be opened for cross country oil pipeline
June 18, 2015 (LBO) – Sri Lanka’s government to call for an open international tender to construct a new pipeline network that carries oil from Colombo Harbour to Kolonnawa wholesale terminal, cabinet spokesperson Rajitha Senaratne said.He said the existing network is 40 to 70 years old and is in a very dilapidated status. A proposal […]