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Sri Lanka launches first social impact funds to support social entrepreneurs
Sept 27, 2018 (LBO) – Two Memoranda of Understanding were signed today in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development.The signings were witnessed by Foreign Minister Tilak Marapana and Achim Steiner, UNDP Administrator, at a special […]
Sri Lanka’s online travel company findmyfare raises USD2mn funding
findmyfare.com Sri Lanka’s largest and fastest growing online travel company, is flying high with the recent news of their raising series B funding from Ironwood Capital Partners. The company serves as a one-stop travel shop, offering its customers the very best deals available in the market place on hotel stays across Sri Lanka and flights […]
US BUILD act passes House; aims to counter China’s debt-trap diplomacy
Sept 27, 2018 (LBO) – United States House of Representatives have approved the inclusion of the Better Utilization of Investments Leading to Development (BUILD) Act in the FAA Reauthorization Act of 2018.The House yesterday passed the Act by a vote of 398-23 and the legislation now heads to the Senate for consideration. BUILD Act is […]
Shareholders of Morison reject resolution to delist from CSE
Sept 27, 2018 (LBO) – Morison PLC said in a stock exchange filing that their resolution to delist the company from the Colombo Stock Exchange was not adopted by the shareholders at the EGM.Morison PLC last month proposed to delist ordinary voting shares and ordinary non-voting shares of the company from the official list of […]
Swarovski opens its doors in Sri Lanka with business partner Softlogic
Swarovski officially opens its doors in Sri Lanka bringing its heritage and craftsmanship in crystal to Colombo City Centre at No.137, Sir James Peiris Mawatha, Colombo 2. The brand brings its dazzling collection that delivers extraordinary everyday style to women around the world. Swarovski stores worldwide create the ultimate experience for its consumers. Swarovski invites […]
‘s colourful family
September 27, 2018 (LBO) – Australian journalist Aaron Patrick has published a detailed exploration of the Sri Lankan family history of Shemara Wikramanayake, Macquarie’s CEO designate. Wickramanayake is set to take over the global investment banking giant on December 1st, making her one of the most powerful people in global finance. Ms. Wikramanayake was born […]
FM statement on misreporting of CID investigation regarding Namal Kumara
Sept 27, 2018 (LBO) – The Criminal Investigation Department (CID) is conducting investigations into serious allegations of an alleged conspiracy to assassinate President Maithripala Sirisena, former President Mahinda Rajapaksa and former Defence Secretary Gotabaya Rajapaksa, amongst others. As of this time, the only source for these allegations is a statement made by A.M. Namal Kumara. While […]
OPINION: 90,000 Northern families in shanties or homeless. What happened to Govt. promised housing?
By Jekhan Aruliah In October last year I had the privilege of participating in the blessing of a new water well in the Killinochchi District of the Northern Province. Its construction had been funded by the UK based charity Child Aid Lanka. The family on whose land the well is built, together with neighbours who […]
Uncertainty surrounds MTD Walkers (KAPI) upcoming Rs2.1bn debenture maturity
September 26, 2018 (LBO) – Colombo Stock Exchange (CSE) listed MTD Walkers (KAPI) has left debt market investors on the edge with regard to the company’s upcoming debenture maturity. KAPI will have to refund Rs2.1bn to investors at the end of the week on September 30th 2018. The debenture is maturing after its three year […]
NDB rights issue in question as shares trade below rights issue price of 105
September 26, 2018 (LBO) – The woes of the Colombo Stock Exchange (CSE) threaten to disrupt the capital raising efforts of one of Sri Lanka’s most prominent financial institutions. CSE listed National Development Bank (NDB) is attempting to raise funds via a rights issue to bolster the capital of the bank. The bank is trying […]
Collapse of rupee and yahapalana govt.’s economic mismanagement: MR
Sept 26, 2018 (LBO) – The Rupee has depreciated steadily against the US Dollar ever since the yahapalana government came into power – a trend which has now accelerated alarmingly. The value of the US Dollar which was Rs. 131 at the end of 2014 when I left office is now over Rs.170 and continuing […]