Category: Industry
ADB provides USD300Mn for elevated highway
Sept 28, 2018 (LBO) – The Asian Development Bank’s (ADB) has approved a US 300 million dollar loan to help in the construction of about 5.3 kilometers (km) of elevated toll highway with related facilities between the New Kelani Bridge (NKB) and Galle Face in central Colombo in Sri Lanka. The new highway is expected […]
‘s colourful family
September 27, 2018 (LBO) – Australian journalist Aaron Patrick has published a detailed exploration of the Sri Lankan family history of Shemara Wikramanayake, Macquarie’s CEO designate. Wickramanayake is set to take over the global investment banking giant on December 1st, making her one of the most powerful people in global finance. Ms. Wikramanayake was born […]
OPINION: 90,000 Northern families in shanties or homeless. What happened to Govt. promised housing?
By Jekhan Aruliah In October last year I had the privilege of participating in the blessing of a new water well in the Killinochchi District of the Northern Province. Its construction had been funded by the UK based charity Child Aid Lanka. The family on whose land the well is built, together with neighbours who […]
NDB rights issue in question as shares trade below rights issue price of 105
September 26, 2018 (LBO) – The woes of the Colombo Stock Exchange (CSE) threaten to disrupt the capital raising efforts of one of Sri Lanka’s most prominent financial institutions. CSE listed National Development Bank (NDB) is attempting to raise funds via a rights issue to bolster the capital of the bank. The bank is trying […]
Collapse of rupee and yahapalana govt.’s economic mismanagement: MR
Sept 26, 2018 (LBO) – The Rupee has depreciated steadily against the US Dollar ever since the yahapalana government came into power – a trend which has now accelerated alarmingly. The value of the US Dollar which was Rs. 131 at the end of 2014 when I left office is now over Rs.170 and continuing […]
Mitra Innovation expands operations into Europe – opens office in Germany
Sept 25, 2018 (LBO) – Mitra Innovation recently announced the launch of engineering and client servicing operations in Germany.The expansion into Germany further strengthens Mitra Innovation’s presence in the European region. Co-founder and CEO – Ashok Suppiah said “As part of our strategic global expansion plans, Mitra Innovation is delighted to announce its first European […]
“Sri Lanka Socio-Economic Data – 2018”, now available
Sept 24, 2018 (LBO) – “Sri Lanka Socio-Economic Data – 2018”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 41st volume of the series. This easy- to- carry data folder contains information categorized under 14 topics, namely, Country Profile; […]
Sri Lankan tech firm Auxenta in ‘30 Most Innovative Companies to Watch 2018’
Sept 21, 2018 (LBO) – The fast-growing boutique technology solutions firm, Auxenta, is proud to be named as one of ‘30 Most Innovative Companies to Watch for 2018’, with some of the leading tech firms around the globe. Headquartered in Silicon Valley, USA, Auxenta is an innovative software engineering services and technology product consulting company. It works […]
‘s rupee hits record lows as Central Bank hold rates
Sept 21, 2018 (LBO) – Sri Lanka’s rupee hit an all time low of 168.65/169.00 to the US dollar at the close of day Thursday down from 167.10 the day before as the Central Bank of Sri Lanka held rates. Sri Lanka’s Minister of Finance Mangala Samaraweera releasing a statement said that Sri Lanka has been […]
‘s fruits and vegetables
Sept 20, 2018 (LBO) – A Memorendem of Understanding has been signed between the Ministry of National Policies and Economic Affairs and the Government of India, to commence the construction of the largest cold storage in Sri Lanka for vegetables and fruits. According to the MoU signed at the Indian High Commission in Colombo, with […]
‘s Access gets Col 02 land for Rs.1.1 Bn
Sept 20, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved the lease of a prime land block in the Colombo’s central business district to Access Realties, a local real estate developer, s statement said. The land area of 114.56 perches has been leased on a 99 year lease for 1.1 billion rupees, a recently […]
Cabinet nod for 500MW LNG plant in Kerawalapitiya
Sept 20, 2018 (LBO) – – The Ceylon Electricity Board has been given cabinet approval to sign an agreement with India’s NTC to build and 500 Meggawatt liquefied natural gas power plant, a cabinet statement said. The new LNG plant will be built in Kerawalapitiya and is an agreement between the two governments. The cabinet proposal was […]