Category: General Services
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 […]
Sri Lanka tea prices down in May 2019
Jun 06, 2019 (LBO) – Sri Lanka’s tea prices or national average for May 2019 were down to 51.69 rupees vis-à-vis May 2018 with medium and low growns showing the biggest deficit, a report shows. “In first 5 months of year, prices show a decrease of 41.64 compared to 2018,” Forbes and Walker Tea Brokers […]
Vidullanka commissions its first ever biomass based power project
May 31, 2019 (LBO) – Vidullanka in its latest announcement to the CSE, disclosed the commissioning of the development of the 3.3MW Dehiattakandiya Dendro power plant to the national grid through its joint venture company, Vidul Biomass (Pvt) Ltd. The project is a 1.45 billion rupees investment jointly undertaken by Vidullanka and OC Energy Lanka […]
BOI & Hutchison Lanka signs deal to set up warehouse facility to strengthen telco infrastructure
May 27, 2019 (LBO) – Sri Lanka’s Board of Investment on Monday said they signed a supplementary Agreement with Hutchison Telecommunications Lanka to permit the enterprise to set up a warehouse facility to be used for storage at Diyabula Estate, Wattala. The Agreement was signed on behalf of the BOI by Mangala Yapa, Chairman of […]
Sri Lanka vehicle registrations down in Apr 2019
May 27, 2019 (LBO) – Sri Lanka’s vehicle registrations were down in almost every category in April due to the New Year and Easter holidays and subsequent turmoil in the country post Easter Sunday bombings, a new report shows. Total motor cars recorded 2,120 units in April down from 2,961 units in March and significantly […]
Korea Eximbank to conduct feasibility study to establish land information service system
May 24, 2019 (LBO) – Recognizing the importance of efficient land management and its contribution to the economy, the Korea Eximbank is financing a comprehensive feasibility study to establish a Land Data Infrastructure (LDI) and Land Information Service System (LISS) in Sri Lanka as a grant under its technical assistance scheme. The Export-Import Bank of […]
News item titled “Pakistan’s trade with Sri Lanka comes to a halt” is fake: SL High Commission
May 23, 2019 (LBO) – Sri Lanka’s High Commission in Islamabad, Pakistan said the news item titled “Pakistan’s trade with Sri Lanka Comes to a halt” which appeared in The Express Tribune of Pakistan on 20 May 2019 is fake news. Releasing a statement, the High Commission said this fake news item has been published […]
Hayleys revenue up 34-pct YoY to Rs.219Bn in FY 18/19
May 22, 2019 (LBO) – Sri Lanka’s Hayleys PLC, group revenue expanded by 34 percent yoy to 219 billion rupees while operating profit before interest increased by 40 percent yoy to 15.9 billion rupees in the financial year ended 31st March 2019 (FY18/19). The group earnings before interest, tax, depreciation and amortization (EBITDA) for FY […]