Category: General Services
Opinion : Sub agents and migrants; dissecting their relationship to guide regulation
Bilesha Weeraratne Geetha is an unskilled and uneducated female from rural Sri Lanka. As she was saddled with financial issues and could not find a suitable job in Sri Lanka, she decided to seek employment in Saudi Arabia as a Female Domestic Worker (FDW). However, Geetha was clueless about how to proceed, and thankfully Somadasa […]
Fitch says Sunshine Holdings new equity issue not enough for ratings upgrade
May 21, 2018 (LBO) – Fitch Ratings says current ratings of Sunshine Holdings will remain unchanged as the projected fall in net leverage from the proposed private placement will be insufficient to trigger an upgrade.Fitch, however, says Sunshine Holdings (A-(lka)/Stable) plan to bring in new equity of 775 million rupees from a private placement of […]
Facebook to empower youth & entrepreneurs in Sri Lanka
May 15, 2018 (LBO) – Facebook’s global ‘Boost Your Business’ program is now available for the youth and entrepreneurs of Sri Lanka. Facebook has partnered with the ICTA of Sri Lanka to train 10,000 small business owners across the country by the close of 2018. In the first phase, the programmed will cover Colombo, Galle, […]
ADB approves USD 100Mn additional funding to enhance job skills in Sri Lanka
May 11, 2018 (LBO) – The Asian Development Bank’s (ADB) has approved a US 100 million dollars results-based loan as additional financing for the Government of Sri Lanka’s efforts to develop skills to meet labor demands, support economic diversification, and enhance productivity in the country. “Sri Lanka has achieved universal primary and high secondary enrollment […]
Harry J says Distilleries profits up 134-pct in 4Q17-18 after adjustments
May 04, 2018 (LBO) – Sri Lankan business magnate Harry Jayawardena in his statement to the shareholders of Distilleries said net profit after tax for the forth quarter of 2017/18 is an increase of 134 percent. Jayawardena said NPAT for the last quarter was 1,902 million rupees compared to the 811.9 million rupees reported in […]
China Harbour Engineering to construct 7-star Achilleion project
Apr 27, 2018 (LBO) – Sri Lankan real estate player Blue Mountain has signed an agreement with China Harbour Engineering Company Ltd. (CHEC) to build Achilleion, its Seven Star Luxury Project. Press release issued by Blue Mountain Apartments is reproduced below. In a historic move, Sri Lanka’s real estate major, Blue Mountain, has signed an agreement with […]
Nawaloka & Durdans join Asiri in DOC990 Joint Venture with Dialog
Apr 26, 2018 (LBO) – DOC990 operated by Digital Health (Pvt) Ltd together with Asiri Hospital Holdings on Wednesday announced the expansion of the joint venture partnership with equity investments from Nawaloka Hospitals and Ceylon Hospitals (Durdans). Full statement is reproduced below. DOC990 operated by Digital Health (Pvt) Ltd, a joint venture between Digital Holdings […]
Sri Lanka targets pharmaceuticals self-sufficiency with new zone
Apr 03, 2018 (LBO) – Efforts to increase domestic and foreign investment in Sri Lanka’s pharmaceuticals industry is set to boost output, Oxford Business Group (OBG) said in its recent Sri Lanka economic update. OBG said latest measures will also broaden the sector’s product range, bringing the country closer to the government’s goal of self-sufficiency […]
Coca-Cola CEO meets Prime Minister in Sri Lanka
Mar 29, 2018 (LBO) – President and CEO of Coca-Cola, James Quincey has met with Prime Minister Ranil Wickremesinghe during his maiden visit to Sri Lanka.Affirming the company’s commitment to Sri Lanka, the company and its bottling partner has committed to contribute 50 million dollars into the ecosystem of the country over the next 5 […]
United Motors to dispose its shareholding in TVS Lanka
Mar 27, 2018 (LBO) – United Motors Lanka said its 50 percent shareholding in TVS Lanka is to be disposed for 1 billion rupees. United Motors in a stock exchange filing said they entered into a sale and purchase agreement with T.V. Sundaram Iyengar and Sons, India to dispose the entire shareholding of United Motors […]
Sri Lanka plans to issue licenses for electricians from October
Mar 23, 2018 (LBO) – Sri Lanka’s electricity sector regulator, Public Utilities Commission is planning to implement a mechanism to establish an accepted professional status for electricians in the country by issuing licenses from 1st of October 2018. The proposed mechanism plans to establish this status by accrediting the qualifications and experience of the electricians. Director General […]
Dialog invests Rs262.5mn for new Data Centre JV in Sri Lanka
Mar 20, 2018 (LBO) – Dialog Broadband Networks, a fully owned subsidiary of Dialog Axiata has entered into a joint venture with St. Anthony’s Property Developers to establish, operate and manage a Data Centre in Sri Lanka. As per the shareholders agreement signed between both parties on 16 March 2018, Dialog Broadband Networks (Private) Limited […]