Category: Featured
‘ Union says back and forth on coal vs LNG wasteful
July 11, 2016 (LBO) – The Ceylon Electricity Board Engineers’ Union says a continuous “back and forth” on whether to construct further power plants using coal or LNG is a costly delay that Sri Lanka cannot afford. Coal is not substantially more environmentally polluting than LNG, and preparations for coal-fired power has been in existence […]
Sri Lanka’s DIMO, Uni of Moratuwa unveils formula student race car
Jul 08, 2016 (LBO) – Diesel & Motor Engineering (DIMO), an automobile company together with the engineering students from the Mechanical Engineering Department of University of Moratuwa, unveiled “D-Mora P1,” a car to compete in world’s biggest student motorsport competition. “The University of Moratuwa is the one of the main hubs of engineering and technical […]
Sri Lanka power regulator warns CEB on long term generation plan
Jul 07, 2016 (LBO) – Sri Lanka’s Public Utilities Commission (PUCSL) has warned that immediate action was necessary and that the Ceylon Electricity Board needs to expedite its submission of the Least Cost Long Term Generation Expansion Plan (LCLTGEP) 2015 – 2034 with the relevant changes. “You are required to submit the LCLTGEP 2015 -2034 […]
No urgent need to adjust Sri Lanka interest rates: CB Governor
July 06, 2016 (LBO) – Sri Lanka’s newly appointed Central Bank Governor Indrajit Coomaraswamy says the monetary authority is closely watching interest rates, and the transmission impact of previous tightening takes 12 to 18 months. “We still haven’t seen the full effects of what has already been done,” he told reporters on Tuesday. “The slight […]
CB Governor awaits COPE outcome; bond market transparency to improve
July 05, 2016 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy told reporters Tuesday that he will look at the outcome of the COPE investigation before taking any action with regard to the alleged bond scam. Meeting reporters in Colombo for the first time after the new appointment, Coomaraswamy said the Central Bank will […]
LBR LBO Summit to focus on brand innovation in the digital age
Jul 04, 2016 (LBO) – Sri Lanka’s leading digital strategists and regional thought leaders will take the stage at the 2016 edition of “LBR LBO Brand Summit,” themed “Building Winning Brands in the Digital Age and Strategy Innovation” Lanka Business Online, LBO, will be hosting the annual LBR LBO Brand Summit on Tuesday 12 July […]
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]
‘s new counter-terrorism legislation being finalized: Foreign Minister
June 30, 2016 (LBO) – Sri Lanka is finalizing the first draft of the new counter-terrorism legislation that will replace the Prevention of Terrorism Act, Foreign Minister Mangala Samaraweera said. Addressing the 32nd Session of the UN Human Rights Council in Geneva yesterday Samaraweera said technical assistance for this purpose has been sought from the […]
UN Human Rights commissioner commends Sri Lanka’s progress
June 28, 2016 (LBO) – The UN High Commissioner for Human Rights has commended steps that the Government of Sri Lanka has taken to implement some of the key commitments made in the Sri Lanka sponsored US resolution, even though rapid action could have been taken in other areas. Issuing a special report to the […]
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) – Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing round have recommitted to their bids, a government official said. “The government has already gone through the approval process for these bids, and bidders have recommitted to their […]
Opportunities for value investors, rate hikes limited: JB Securities
June 22, 2016 (LBO) – Sri Lanka’s equity market offers opportunities for value investors as market multiples have contracted, JB Securities says in their latest research report. Although the economy is forecast to grow 4.5 percent in 2016, compared with 4.8 percent last year, further increases in interest rates are likely limited to 25 basis […]
Sri Lanka’s debt higher than B, BB rated countries, Fitch data shows
June 21, 2016 (LBO) – Sri Lanka’s current debt levels are higher than its ‘B’ median peers or the previously rated ‘BB’ median, data from the ratings agency Fitch shows. Sri Lanka’s external funding requirement too is high compared to peers, although it performs better in certain governance metrics and HDI indices. Supporting the rating, […]