Category: Featured
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 […]
‘s Blue Ocean S.Thumilan
The Blue Ocean Group of Companies has grown into a versatile conglomerate over the past few years. The group of companies engage in real estate, construction, engineering, trading, education, travels and holidays, entertainment, consultation and many other fields.
Sri Lanka tourist arrivals up 6.2-pct in May, Crosses 1Mn mark for 2018
Jun 06, 2018 (LBO) – Sri Lanka’s tourist arrivals were up 6.2 percent to 129.466 in May 2018 from a year earlier with arrivals in the first five months up 14.7 percent to 1,017,819. Arrivals from India continued its growth momentum in May while Chinese arrivals saw a dip. Indian visitors were up 23 percent to […]
LBOTv chats with Chairman of Sri Lanka’s Blue Ocean S.Thumilan
The Blue Ocean Group of Companies has grown into a versatile conglomerate over the past few years. The group of companies engage in real estate, construction, engineering, trading, education, travels and holidays, entertainment, consultation and many other fields. https://youtu.be/npkzK4pIkuQ
‘s Ritz-Carlton Tower ready by 2021
Jun 06, 2018 (LBO) – One Transworks Square (Pvt) Ltd together with Zhong Tian Ding Hui (ZTDH) Company announced that it’s 500 million dollar “THE ONE” investment’s first tower the Ritz-Carlton residences will be ready for occupation by 2021. The 80 storeyed 326 meter Ritz-Carlton Tower will house the Ritz-Carlton hotel and residences. The project […]
New MLA amendments to restrict financing fiscal deficit by Central Bank
June 05, 2018 (LBO) – Sri Lanka’s Central Bank said there will be new legislative amendments to Monetary Law Act (MLA) to restrict financing the fiscal deficit of the government by the Central Bank. Currently, the Central bank has been compelled to purchase Treasury bills in the primary market at times without regard to monetary […]
Presidential Commission on SriLankan, Mihin commences witness hearings
June 04, 2018 (LBO) – Presidential Commission appointed to look into alleged malpractices at SriLankan Airlines, SriLankan Catering, and Mihin Lanka commenced witness hearings today. The Commission will record statements from the head of Company Registrar and another official today. The IMF completing its 4th review, last Friday said it is essential for the authorities to […]
‘s 4th review; approves USD 252 mn disbursement
June 02, 2018 (LBO) – Executive Board of the IMF has completed the fourth review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. Completion of this review enables the disbursement of the equivalent of SDR 177.774 million (about US$ 252 million), bringing […]
Fitch Ratings to maintain a negative banking sector outlook for 2018
June 01, 2018 (LBO) – Fitch Ratings said they are maintaining a negative banking sector outlook for this year as operating conditions are likely to remain challenging. Releasing their results dashboard for Sri Lankan Banks, Fitch Ratings said that moderate asset quality and earnings pressure to remain in 2018. “Sri Lankan banks’ 2017 results were […]