Category: Industry
LSE to shift Bangalore research facility to Sri Lanka
Mar 09, 2016 (LBO) – The London Stock Exchange (LSE) plans to shift its Bangalore-based research facility to Sri Lanka, a senior official said. “They are shifting from Bangalore to Sri Lanka, and usually it is the reverse that happens. This is a major win for Sri Lanka,” Ranjith Fernando, chairman of the Urban Development […]
Sri Lanka to move prison out of Colombo, shift key buildings
Mar 09, 2016 (LBO) – Sri Lanka’s government is planning to shift key government offices including the Prison, President and Prime Minister’s residences from Colombo and free land for development purposes, chairman of the Urban Development Authority said. “We want to move the Welikada Prison, which has about 50 acres, and it will be shifted […]
‘s total revenue in 2015
Mar 09, 2016 (LBO) – Ceylon Tobacco Company, a unit of British American Tobacco said the company contributed 91.6 billion rupees to the government during 2015 which accounts for 7 percent of the Government’s total tax revenue. “This constitutes approximately 88 percent of the value generated by the Company making the Government a key stakeholder […]
Sri Lanka’s Seylan Bank refutes merger talks with NDB
Mar 09, 2016 (LBO) – Sri Lanka’s Seylan Bank on Tuesday said the bank is not engaged in merger talks with National Development Bank or any other entity at present. Releasing a statement the Bank said its Director Board is of the view that the Bank has robust and sustainable growth potential to continue to […]
Sri Lanka’s HNB to raise Rs7bn in listed debt
Mar 09, 2016 (LBO) – Sri Lanka’s HNB said it is planning to raise as much as 7 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that it wanted to sell 40 million debentures of 100 rupees each with an […]
Sri Lanka’s Laugfs Gas expands into Dubai
Mar 08, 2016 (LBO) – Sri Lanka’s Laugfs Gas announced the expansion of it’s regional presence with a new business venture in Dubai Multi Commodity Center which commenced operations as a fully-fledged international energy trading business. Named as SLOGAL Energy, this fully owned trading arm of Laugfs Gas commenced operations from Dubai as a international energy […]
Aravinda to Chair new selection committee for Sri Lanka Cricket, Sanga included
Mar 08, 2016 (LBO) – Sri Lanka’s Sports Minister has appointed a new National Cricket Selection Committee with immediate effect following recent failures encountered by the team, a Ministry statement said. The committee will be chaired by Aravinda De Silva while Kumar Sangakkara, Romesh Kaluwitharana, Lalith Kaluperuma and Ranjith Madurasinghe will serve as members. The […]
Virtusa acquires majority interest in Polaris Consulting
Mar 07, 2016 (LBO) – Virtusa Corporation announced that its India subsidiary has acquired all of the outstanding shares of Polaris Consulting and Services held by Arun Jain, founder and chairman of Polaris, the company said in a statement. “Virtusa Corporation announced that its India subsidiary, Virtusa Consulting Services Private Limited, has acquired all of the […]
Sri Lanka to withdraw licenses of defunct mini hydro power plants
Mar 04, 2016 (LBO) – Sri Lanka’s Power Ministry is to withdraw licenses of mini hydro power plants that have been non-operational for more than 2 years. Power and Renewable Energy Minister Ranjith Siyambalapitiya said a circular in this regard will be issued soon. “There is an issue with mini hydro power plant licensing. Some […]
AIA Insurance clarifies its position on minimum public float
Mar 04, 2016 (LBO) – AIA Insurance has issued an explanation clarifying its position on minimum public float saying the shortfall is to be rectified complying with the relevant listing rules. Existing public holding of the company is 2.84 percent as at the end of last year. 1,794 public shareholders of the company represent 874,435 […]
Sri Lanka tourism earnings up 23-pct; CSE net inflows down 97-pct in 2015
Mar 04, 2016 (LBO) – Sri Lanka’s earnings from tourism has increased significantly in 2015 recording a 22.6 percent increase against the previous year. In the twelve months to December, Sri Lanka has earned 2,980.7 million US dollars from tourism while earning 2,431.1 million US dollars in 2014. Workers’ remittances recorded a marginal decline of […]
Sri Lanka to build elevated highway network in Colombo
Mar 03, 2016 (LBO) – The cabinet nod has been given to construct an elevated highways network in Colombo to reduce the traffic congestion and to build the road connectivity suburbs and expressways. It has been proposed to construct a road of 6.9 km long with 4 lanes from New Kelani Bridge to Rajagiriya. It […]