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Opinion: Towards a Common Future: a revitalised & relevant Commonwealth
By James Dauris – British High Commissioner to Sri Lanka The recent Commonwealth Heads of Government Meeting in London brought together leaders representing the interests of 2.4 billion people, nearly one third of the world’s population. Sri Lanka is no stranger to CHOGM. It hosted the meeting in 2013 and President Sirisena led the delegation to […]
World Bank approves USD100Mn to help Sri Lanka modernize education system
Apr 27, 2018 (LBO) – World Bank Board of Executive Directors on Thursday approved a 100 million US dollars credit to support Sri Lanka’s efforts to strengthen and modernize its education system. The General Education Modernization Project (GEM) will modernize and diversify the curriculum of general education in keeping with the transformation taking place in […]
Korea Eximbank provides consultation for automated tax system for CMC
The Export-Import Bank of Korea (Korea Eximbank) has agreed to provide KSP (Knowledge Sharing Program) policy consultation to establish an automated taxation system in the Colombo Municipality.The Korean consultant team conducted the inception workshop at the Colombo Municipal Council under the chairmanship of her worship the Mayor Rosy Senanayake. The KSP is expected to be […]
CK Hutchison and Etisalat Group to merge Sri Lanka operations
Apr 26, 2018 (LBO) – CK Hutchison Group and Emirates Telecommunications Group Company PJSC (“Etisalat Group”) have entered into a definitive agreement to merge their mobile telecommunications businesses in Sri Lanka. They will operate under Hutchison Telecommunications Lanka (Private) Limited (“Hutch Lanka”) and Etisalat Lanka (Private) Limited (“ESL”) respectively.The combined business of Hutch Lanka and ESL […]
OPPO unleashes F7, the selfie expert phone
(PRESS RELEASE) OPPO, the Selfie Expert and Leader, today launched the F7. The latest Selfie Expert, powered by Artificial Intelligence (AI), takes smartphone technology to new heights. The F7 utilizes improved AI technology for selfie photography in addition to many more AI-powered operational features. Together with the Super Full Screen and upgraded multi-tasking software, the […]
Given the current debt dynamics, fiscal slippage can lead to a serious economic crisis: CB
Apr 26, 2018 (LBO) – Given the current debt dynamics, fiscal slippage can lead to a serious economic crisis, the Central Bank said releasing its Annual Report 2017.Central Bank in its report said amidst the measures taken towards revenue based fiscal consolidation, fiscal sector performance in 2017 deviated from the envisaged targets.“Avoiding deviations from fiscal […]
Sri Lanka political unrest tests reform momentum: Fitch
Apr 26, 2018 (LBO) – Recent political developments in Sri Lanka have created some uncertainty over reform momentum and fiscal consolidation, and prolonged upheaval could undermine investor confidence ahead of large external debt maturities in 2019-22, says Fitch Ratings. That said, the unrest has had limited economic impact so far, and Sri Lanka’s ‘B+’ sovereign […]
Nawaloka & Durdans join Asiri in DOC990 Joint Venture with Dialog
Apr 26, 2018 (LBO) – DOC990 operated by Digital Health (Pvt) Ltd together with Asiri Hospital Holdings on Wednesday announced the expansion of the joint venture partnership with equity investments from Nawaloka Hospitals and Ceylon Hospitals (Durdans). Full statement is reproduced below. DOC990 operated by Digital Health (Pvt) Ltd, a joint venture between Digital Holdings […]
Union Bank records 37-pct growth in PAT in 1Q18
Union Bank recorded an impressive Profit Before Tax and VAT of Rs.246 million, reporting a 47 percent growth YoY, thus setting the pace for its next growth phase powered by a new three-year growth strategy which includes its subsidiaries. Core Banking Growth and Profitability A significant growth in core banking operations contributed to the robust […]
Essential fuel saving tips you should know
The price of petrol and diesel are at a constant rise and it’s more important than ever to start saving fuel. Here are some essential ways you can save fuel and the burden it carries on your wallet. Drive Efficiently Save money on fuel by altering the way you drive. By braking or accelerating too […]
PUCSL hold public consultation on draft regulatory tools of lubricants
Apr 26, 2018 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), shadow regulator of the lubricant industry held a public consultation session on the draft regulatory tools related to quality and price of lubricants, recently. “The necessity of having an effective and independent mechanism for ensuring product quality, fair prices and protecting the […]
Presidential Commission on SriLankan to commence recording of evidence
Apr 26, 2018 (LBO) – President Maithripala Sirisena said that the Presidential Commission appointed to look into the alleged frauds and malpractices in SriLankan Airlines will commence recording of evidence within the next two weeks.He said at a discussion held with the trade union representatives of SriLankan Airlines at the Presidential secretariat yesterday (April 25). […]