Category: General Services
USD100mn from ADB to strengthen SME sector in Sri Lanka
Dec 10, 2015 (LBO) – The cabinet nod has been given to a 100 million US dollar project to strengthen the Small and Medium Scale Entrepreneur field in Sri Lanka.The project will be funded by the Asian Development Bank.The cabinet has also approved to draft a new bill to facilitate Secured Transactions instead of the […]
‘s Asiri Hospitals
Dec 10, 2015 (LBO) – TPG Growth, a global private investment firm announced it bought a 28 percent stake in Asiri Hospital Holdings Plc, a unit of Sri Lanka’s Softlogic group in a 7.6 billion rupee deal, a statement said. “We’ve seen significant growth opportunities in healthcare across the globe, and particularly in […]
Sri Lanka to amend Fisheries act, increase penalties for offences in international waters
Nov 12, 2015 (LBO) – Sri Lanka will change the law on governing the operation of fishing vessels in international waters, cabinet spokesman Minister Rajitha Senaratne said. “Cabinet of Ministers has approved the amendment of the Fisheries’ and Aquatic Resources Act 02 of 1996 for the increase of penalties for the offences done in the […]
Sri Lanka Treasury guarantees water project funding from Bank of Ceylon
Oct 23, 2015 (LBO) – Sri Lanka is to implement a water supply project for the towns in east of Colombo with funding secured from Bank of Ceylon with a treasury guarantees, media spokesman Rajitha Senaratne told reporters on Thursday.The cabinet of ministers have approved the implementation of 34 water supply projects with a cost […]
‘s Dialog launches new service to pay mobile pensions
Oct 08, 2015 (LBO) – Sri Lanka’s Pensions Department on Thursday entered into a partnership with Dialog easy cash mobile money service to deliver pensions directly in to the pensioners hand through mobile devices.This innovative service for pensioners will ease the waiting queues at post offices or banks to get the funds. After registering with […]
UK global scholarship programme ‘Chevening’ starts accepting applications
Aug 06, 2015 (LBO) – The Chevening Secretariat is accepting applications for 2016/2017 Chevening Scholarships from 3 August until 3 November 2015, the British High Commission said in a statement.Chevening Scholarships are awarded to individuals with strong academic backgrounds who also have demonstrable leadership potential. The scholarship offers financial support to study for a Master’s […]
Volkswagen to invest USD30mn in Sri Lanka for vehicle assembly plant
Aug 04, 2015 (LBO) – German based automobile manufacturer Volkswagen has agreed to invest 30 million US dollars to set up a vehicle assembly plant in Sri Lanka, BOI Chairman Upul Jayasuriya said.“It’s not huge but it’s just the footprint.We have asked them to set it up and given a time period for them to […]
Kantale sugar gets foreign investment of USD 100MN for restructuring
July 28, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) signed 100 million US dollars agreement with M G Sugars Lanka, a subsidiary of UK based Mendel Gluck to restructure the island’s state owned Kantale Sugar Factory.“Sri Lanka’s government will own 51 percent of the factory while 49 percent will be held by the […]
EU team due in October to assess requirements for lifting fishing ban: USD 75mn loss so far
July 22, 2015 (LBO) – A delegation from the European Union is due to arrive in Sri Lanka in October to assess the progress made by the Sri Lankan government in order to lift a fishing ban imposed earlier, a foreign Ministry official said.“A technical evaluation mission from the EU is to come to Sri […]
Effective public service and service delivery, crucial for competitiveness of economy: Think Tank
July 17, 2015 (LBO) – An efficient service delivery in the public service is crucial not only to achieve a competitive economy but also to meet the needs of poor and vulnerable sections of the society, a think tank said. “The efficiency of the public service, in terms of policy development and service delivery, is […]
Sri Lanka needs more value added tea exports; brew only 4-pct locally: EDB
July 10, 2015 (LBO) – Sri Lanka needs to look at higher value additions in tea and the current value additions are not giving the required value addition levels, the head of EDB said. Bandula Egodage, the chairman of Export Development Board said a whopping 96 percent or 325 million Kilograms of Pure Ceylon Tea leave […]
NWSDB to improve pipe water facility with Rs3.5 bn investment
July 9, 2015 (LBO) – Sri Lanka’s cabinet of ministers have given approval for National Water Supply and Drainage Board to obtain a loan facility of 3449 million rupees to implement 22 water supply projects, cabinet spokesman said.The loan will be taken from Bank of Ceylon.The proposal was made by Minister Rauf Hakeem to issue […]