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Commercial Bank Dispenses Rs 21.54 billion in first 14 days of April
The Commercial Bank of Ceylon smashed itsrecords for cash dispensed via the Bank’s automated teller machine (ATM) network over a 14 day period this ‘Avurudu’ season, dispensing a jaw-dropping Rs 21.54 billion between 1stand 14thApril. On four of these 14 days, the 625-terminal network dispensed more than Rs 2 billion a day, with the peak […]
600 graduates of SriLankan Aviation College enter the world of aviation
600 young men and women qualified to embark upon rewarding careers in the international air transport industry at the graduation ceremony of the SriLankan Aviation College, one of Asia’s premier aviation academies, on Thursday (31st March) at the Bandaranaike Memorial International Conference Hall in Colombo. The SriLankan Aviation College is the academy of SriLankan Airlines […]
Internet of Things: Insurance companies could unlock powerful growth
By Mithula Guganeshan The new tech buzz word, Internet of Things, is all about connecting data, people, machines and processes using sensors attached to devices. Despite IoT being in its early stages, it has been predicted that IoT would become universal in a decade or so. Gartner, Inc. forecasts that 5.5 million new things will […]
‘s President opposes planned VAT hike
Apr 19, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena, in a public address on Monday, said he would not support tax increases that burden the people. The Value Added Tax (VAT) rate is scheduled to be increased to 15 percent from May 2nd, according to the Finance Ministry, and will include the telecommunications sector. […]
Nepali Himalaya Airlines commences flights to Sri Lanka
Apr 18, 2016 (LBO) – Himalaya Airlines, a Nepali-Chinese joint venture, commenced its aviation life last week with a flight to Colombo from Kathmandu. The flight was planned to coincide with New Year celebrations in both Sri Lanka and Nepal. “The flight intends to help promote tourism between Nepal and Sri Lanka and enhance people-to-people […]
PTL Watch: Foreign investors on buy side for bonds
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‘s top 10 FDI hotspots: US think tank
Apr 18, 2016 (LBO) – IHS Global Insight, a United States-based think tank, has listed Sri Lanka as one of the top 10 foreign direct investment (FDI) destinations in Asia. The other Southeast Asian countries projected to be the FDI hot spots in the region, are China, India, Bangladesh, Indonesia, Vietnam, Myanmar, Malaysia, The Philippines and […]
Lamudi to host real estate exhibition in Sri Lanka
Apr 18, 2016 (LBO) – Sri Lanka’s online property portal ‘Lamudi’ will host a real estate exhibition in May where developers will showcase upcoming projects. “This two day convention will see visitors exploring projects currently available all over the island,” Lamudi said in a statement. “Real estate is booming in Sri Lanka, and events like […]
SriLankan flight instructed to return to Singapore base
Apr 18,2016 (lLBO) – SriLankan Airlines flight UL 309 of April 14, 2016 was instructed to return to Changi International Airport due to security reasons soon after it was airborne to Colombo. The flight later arrived in Colombo at 0042 hrs on April 15, 2016 with a total delay of 3 hours. “Upon its return to Singapore, the airport […]
Thilak Karunaratne sends letter of demand to Sunday Leader
Apr 18, 2016 (LBO) – Thilak Karunaratne, chairman of the Securities and Exchange Commission of Sri Lanka (SEC), has sent a letter of demand to The Sunday Leader newspaper alleging defamation for an article titled “SEC Fails Market Again,” on April 3rd. The article, which quotes from another article published on the website “‘Lanka News […]
Central Bank sees monetary policy stance as appropriate
Apr 18, 2016 (LBO) – Sri Lanka’s Central Bank, in response to an opinion column, states that its monetary policy stance holding interest rates unchanged on March 29 was appropriate. WA Wijewardena, a former deputy governor, in an article in the Daily FT alleged that the Monetary Board should have tightened monetary policy “based on […]
Lasith Malinga’s current status with MI
Sri Lanka Cricket wishes to respond to the concerns of the media with regards to Lasith Malinga’s current status with the Mumbai Indians. Lasith Malinga has not informed Sri Lanka Cricket of his travel to India, nor his intention to play for the IPL. There is no bar on Mr. Malinga travelling to, watching, or […]