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EU provides Euro 40Mn to strengthening transformation, reconciliation
Oct 10, 2019 (LBO) – The European Union (EU) is providing 40 million euros to Sri Lanka to co-finance the “Strengthening Transformation, Reconciliation and Inclusive Democratic Engagement” (STRIDE) project. Dr. R.H.S. Samaratunga, secretary to the Treasury at the Ministry of Finance, signed the financing agreement with Tung-Lai Margue, ambassador of the Delegation of the European […]
John Keells Hotels provides Rs. 2.45 bn corporate guarantee to People’s Bank
Oct 09, 2019 (LBO) – John Keells Hotels has given a corporate guarantee for 2.45 billion rupees to People’s Bank, in respect of a long-term loan facility obtained by Ceylon Holiday Resorts Ltd, a subsidiary company. The company said in a stock exchange filing that the said loan facility was obtained by Ceylon Holiday Resorts […]
Colombo stocks surge as Gota secures SLFP support
October 9, 2019 (LBO) – The Sri Lankan stock market surged in response to presidential candidate Gotabaya Rajapaksa officially securing the support of the Sri Lanka Freedom Party (SLFP). SLFP support was seen as crucial to Rajapaksa’s campaign, and was by no means guaranteed. In Sri Lanka’s 2018 islandwide local government elections, when the votes […]
5-star hotel to be built in Kandy under BOI agreement
Oct 09, 2019 (LBO) – The Board of Investment of Sri Lanka signed an agreement with Star Class Hotel (Pvt) Ltd., to set up 67 room 5-star hotel which will be located at Mavilamada Road, Kandy. The Agreement was signed by Mangala Yapa, Chairman of the Board of Investment of Sri Lanka and Mohamed Nazar […]
Sri Lanka unemployment up in Q2 2019
Oct 09, 2019 (LBO) – T h e n u m b e r o f unemployed persons in Sri Lanka is estimated as 420,231 or 4.9 percent during the second quarter 2019, a new report shows. Data from the state statistics office shows that this is a rise of 0.4 percent from the same […]
Sri Lanka needs consistent energy policy to attract investors: Prof Samarajiva
Oct 09, 2019 (LBO) – Sri Lanka is in the need of consistent and solid policies in order to attract investors and planned infrastructure framework which should not be changed from government to government, a regulatory expert said. “Infrastructure should not have politics associated with it. Because governments come and governments go but it takes […]
Sampath Bank ranks among Sri Lanka’s 10 Most Admired Companies
Standing testimony to its superlative service to the nation, Sampath Bank was placed among Sri Lanka’s 10 Most Admired Companies at the ‘Most Admired Companies of Sri Lanka 2019’ held at BMICH recently. Marking yet another historic milestone, Sampath Bank won this prestigious award for the second consecutive year. The event was organised by the […]
JKH ranked Sri Lanka’s most respected entity
Oct 08, 2019 (LBO) – John Keells Holdings PLC (JKH) was ranked as the most respected entity in Sri Lanka, for a record 14th year by LMD magazine. In terms of the 10 attribute rankings, JKH has taken the lead in seven categories, namely financial performance, management profile, honesty, dynamism, corporate culture, CSR and vision. […]
John Keells Holdings ranked as Sri Lanka’s Most Respected Entity for 14th year
John Keells Holdings PLC (JKH) was ranked as the Most Respected entity in Sri Lanka for a record 14th year, in the recently released edition of LMD’s Most Respected entities issue. In terms of the 10 attribute rankings, JKH has taken the lead in seven categories, namely financial performance, management profile, honesty, dynamism, corporate culture, […]
Altair infuses USD 25 mn via syndicated loan
Oct 08, 2019 (LBO) – A consortium of leading local banks, comprising of the Bank of Ceylon, NDB Bank and National Savings Bank has raised a syndicated loan of 25 million US dollars (Rs 4.5 bn) for Sri Lanka’s high rise property development Altair. One of the largest syndicated loans in Sri Lanka’s property development […]
‘s can create efficient energy sector through stakeholder dialogue
Oct 08, 2019 (LBO) – Sri Lanka should have a dialogue among all the stakeholders as to how to move forward and create an efficient energy sector that ensures energy security, environment friendliness, a senior official said. “The energy sector in Sri Lanka is sensitive to many factors,” Prof. Kithsiri M. Liyanage, chairman of the […]
Commercial Bank blocks sale of MTD Walkers (KAPI) to Ravi Wijeratne
October 8, 2019 (LBO) – Colombo Stock Exchange (CSE) listed construction firm MTD Walkers (KAPI), in a stock exchange disclosure, informed the marketplace that they have received an order from the Commercial High Courts of Colombo. The order enjoined the company, or its holding company MTD Capital Bhd, from going through with an earlier disclosed […]