Category: Featured
SriLankan will continue to fly : The airline to break-even in three years: Min Kiriella
Jun 18, 2018 (LBO) – The government has no plans to close down SriLankan Airlines but the National carriers’ income and expenditure should be bridged, Minister Lakshman Kiriella said. The Minister of Public Entreprise and Kandy City Development also said that the airline is likely to break-even in three years. He made these comments while on […]
Sri Lanka’s private insurance providers exploit language barrier: Research
Jun 15, 2018 (LBO) – Sri Lanka’s top five general insurance providers which account for two-thirds of the market share, is seem to exploit the language barrier as none of them issue insurance documents for certain policies in Sinhala and Tamil, a recent research showed. The research study conducted by Verité Research has found out […]
Sri Lanka to introduce Euro 4 fuel in July, No impact on current pricing
Jun 14, 2018 (LBO) – Sri Lanka’s Ministry of Petroleum Resources Development said the Government will introduce Euro 4 fuel to the market and replace super diesel and 95 octane petrol, in July.“Euro 4 doesn’t affect petrol (Octane 92) and auto diesel to leave the market and the prices won’t also rise.Euro 4 will be sold as […]
Children in Sri Lanka at risk of entering adulthood at a disadvantage: UNICEF
Jun 14, 2018 (LBO) – Children in Sri Lanka are at risk of entering adulthood at a disadvantage to their peers, because they have not benefited from the good nutrition, stimulation and protection – known as ‘eat, play and love’ – that enable a brain to grow to its full capacity by the age of 5 […]
Fitch revises Sampath Bank outlook to stable from negative; affirms A+(lka)
Jun 13, 2018 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of Sampath Bank at A+(lka) and revised the outlook to stable from negative. Fitch has also affirmed Sampath Bank’s subordinated debentures at A(lka). KEY RATING DRIVERS The revision in the Outlook reflects Fitch’s expectation that the bank would be able to sustain […]
Beira Lake to be developed into Commercial hub in Colombo
Jun 13, 2018 (LBO) – Over 200 acres of land around the Baire Lake in Colombo 02 belonging to the Ports Authority, Sathosa and Transport Ministry are being developed as Commercial hub, the ministry of Megapolis and Western Development said.Speaking at the launch of a three kilometre linear park along Beira Lake Megapolis Minister Patali Ranawaka […]
‘t tolerate speculation further; if necessary will use all instruments to discipline
Jun 13, 2018 (LBO) – Sri Lanka’s Central Bank Governor warned forex market players saying that if necessary he is ready to use all the instruments they have to discipline the market and the Central Bank is not going to impose an undue burden on the people.Speaking at a recent event, Governor Indrajit Coomaraswamy said […]
Sri Lanka appoints two state ministers and five deputy ministers
Jun 12, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed two state ministers and five deputy ministers. The seven new ministers and deputy ministers were sown in at the Presidential Secretariat a short while ago. They will non cabinet ministers. The full list follows: State Ministers Ranjith Aluvihare – Tourism Development and Christian […]
Sri Lanka Eco summit to focus on the fast track to a turnaround
Jun 12, 2018 (LBO) – Sri Lanka Economic Summit 2018, organized by the Ceylon Chamber of Commerce to take place on 12th – 14th September at Cinnamon Grand Colombo will be themed “On the Fast Track to a Turnaround”.Sri Lanka’s economy is once again at a crucial juncture in need of a swift and well strategized […]
All set for Tuesday summit between USA and North Korea in Singapore
Jun 11, 2018 (LBO) – The United States State Department says all is set and President Donald Trump is “well prepared,” and their “position remains clear and unchanged” a day ahead of the historic summit with North Korea. “The President and the entire U.S. team are looking forward to tomorrow’s summit. We have had substantive […]
SriLankan Airlines CEO Suren Ratwatte retires amid Commission hearings
June 08, 2018 (LBO) – SriLankan Airlines CEO Suren Ratwatte has submitted a letter announcing his early retirement, few days after Presidential Commission on SriLankan and Mihin commenced witness hearings. Ratwatte appointed as the Chief Executive Officer of SriLankan Airlines and Mihin Lanka with effect from October 2015. Presidential Commission is to investigate alleged irregularities […]
Knuckles lands not given to investors; Bring evidence if you have: Minister
Jun 08, 2018 (LBO) – Sri Lanka’s Minister of Public Enterprise and Kandy Development, Lakshman Kiriella denied allegations that he was involved in giving acres of land in the Knuckles reserve to several close associates. Speaking at a press conference Thursday the minister said that the allegations were baseless and that the government has taken no […]