Category: General Services
People’s Bank will not be privatized: Finance Minister
Jun 26, 2019 (LBO) – Sri Lanka’s Finance Minister says that the recent news report in the media quoting an opposition Parliamentarian to the effect that the People’s Bank is to be privatized is completely false and misleading. Certain political parties and the Trade Union affiliated to those parties had alleged the government is to […]
Yarl Geek Challenge and Arima Technologies Bringing Silicon Valley to Jaffna
By Jekhan Aruliah “That which doesn’t kill you makes you stronger”, a much used saying originating from the 19th Century German philosopher Friedrich Nietzsche. While perhaps over-dramatic and often not true, this does apply to the Yarl Geek Challenge (YGC). YGC is a competition I have observed and in a small way supported over the […]
Hyrax Oil lubricant blending plant declared open in Muthurajawela
Jun 24, 2019 (LBO) – Prime Minister Ranil Wickremesinghe declared open the Hyrax Oil lubricant blending plant in Muthurajawela today. The is the second of its kind which has been built outside Malaysia by Hyrax Oil with a 30 million US dollar investment. The plant is a Build, Operate and Transfer (BOT) investment and the […]
Expolanka, HNB Assurance, Janashakthi, Melstacorp in new S&P Sri Lanka 20 Index
Jun 21, 2019 (LBO) – Colombo Stock Exchange (CSE) announces changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2019 mid-year index rebalance. Accordingly, Expolanka, HNB Assurance, Janashakthi Insurance, and Melstacorp have been included in the index while CTC, NTB, Richard Pieris and Tokyo Cement have been excluded. […]
CICT voted best container terminal in Asia
Jun 21, 2019 (LBO) – The CMPort managed Colombo International Container Terminal (CICT), the only deep water terminal in the Port of Colombo, has been voted the best container terminal in Asia in the under four million TEUs category at the prestigious asian freight, logistics and supply chain (AFLAS) awards hosted and presented by asia […]
Advocata commends Government’s decision to shut down SaluSala
Jun 19, 2019 (LBO) – Advocata Institute commends President Maithripala Sirisena’s directive to shut down the loss-making, state-owned handloom enterprise Salu Sala. While we commend this decision, we are also anticipating the official gazette enacting this statement. The SaluSala, now a white elephant to society, was once the only state textile trading enterprise in the […]
CA Sri Lanka members can now obtain AICPA international associate membership
Jun 12, 2019 (LBO) – The Institute of Chartered Accountants of Sri Lanka continued to make inroads across the global accounting arena, as it signed yet another Memorandum of Understanding (MoU) with the Association of International Certified Professional Accountants (AICPA), which aims to strengthen the standing of CA Sri Lanka members internationally. The MoU signed […]
Japanese investor reiterates confidence in Sri Lanka
Jun 12, 2019 (LBO) – President of Tosslec Co. Ltd, Kyoto, Japan Jitsuo Mikasa, a Japanese investor has reaffirmed that his company would continue to invest in Sri Lanka without any break or disruption. Tosslec Co. Ltd’s subsidiary Tos Lanka Co.(Pvt) Ltd has been in operation in the Biyagama Export Processing Zone since 1995 and […]
Employee group opposes alleged privatisation of profitable Litro Gas
Jun 12, 2019 (LBO) – The Litro Surakime Jathika Ekamuthuwa (LSJE) or Litro Surakeeme National Unity, a newly formed employee union, has intensified its agitation against the Finance Minister and other connected parties’ move to privatise Litro Gas Lanka Ltd. by filing a case in the Court of Appeal. The case was filed following a […]
Sri Lanka petrol price raised to Rs138 per ltr
Jun 11, 2019 (LBO) – Sri Lanka’s government will increased the price of 92 Octane petrol by three rupees to 138 rupees for a litre from midnight yesterday. The price revision was done under a pricing formula introduced by the Finance Ministry in 2018. Prices of three other fuels remained unchanged, according to a statement. […]
Unilever Global CEO Alan Jope makes official visit to Sri Lanka
Jun 07, 2019 (LBO) – Unilever’s Global CEO Alan Jope arrived in Sri Lanka on an official visit recently to review Unilever Sri Lanka’s operations and engage with employees of the organisation. Joining him was Sanjiv Mehta – Executive Vice President South Asia and CEO/MD of Hindustan Unilever Limited. The visit comes at a crucial […]
Sri Lanka to obtain USD330Mn World Bank loan for climate mitigation
Jun 06, 2019 (LBO) – Sri Lanka’s cabinet of ministers has approved the implementation of phase 1 of a multi-phase program for mitigation of climate disadvantages. The proposal was presented by Mangala Samaraweera, Minister of Finance to hold loan negotiation discussions and enter into financial agreement with the International ank for Development and Reconstruction to implement […]