Category: Industry
Sri Lanka seeks investments from France for Megapolis project
July 13, 2018 (LBO) – Sri Lanka recently concluded an investment forum in France aimed at attracting foreign investments for the Megapolis project that is being carried out in the Western Province. The forum was held in Paris, France from 01 July to 06 July 2018 with the participation of well-known French companies. Speaking at […]
Fitch removes Rating Watch Negative on Distilleries; affirms at AAA(lka)
July 13, 2018 (LBO) – Fitch Ratings has removed the Rating Watch Negative on Distilleries Company’s National Long-Term Rating, and has affirmed the rating at ‘AAA(lka)’. Full text of the statement is reproduced below. Fitch Ratings-Colombo-13 July 2018: Fitch Ratings has removed the Rating Watch Negative (RWN) on Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term […]
Sotheby’s International Realty partners with Catalina Koggala’s luxury villa development
July 12, 2018 (LBO) – Sri Lanka Sotheby’s International Realty today announced an agreement to work with Catalina Koggala, Sri Lanka’s premiere villa-based residential country club, to market Catalina’s luxury villas globally. Charles Phillpot, Sales and Marketing director of Sri Lanka Sotheby’s International Realty, said “There is currently a lot of interest from many […]
Arpico Finance, Associated Motor Finance merger to be completed by Nov 2019
July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to be completed with their legal merger by November 2019. Associated Motor Finance said in a stock exchange filing that they are not able to inform the shareholders as to the […]
Sri Lankan scents inspire high fashion fragrance
July 12, 2018 (LBO) – Sri Lankan scents are the inspiration for one of the latest perfumes by Boucheron Paris.The fragrance will be available exclusively at Harrods department store in July. From www.cosmeticsbusiness.com: “Luxury French perfume brand Boucheron Paris has introduced a new fragrance inspired by Sri Lanka. Nathalie Lorson is responsible for creating the […]
Transparency in tender procedures vital for attracting FDI inflows to Sri Lanka :EU
Jul 11, 2018 (LBO) – The 6th EU- Sri Lanka investor dialogue was held at the Ministry of Development Strategies and International Trade recently. Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities. “We have managed to resolve many of the issues that […]
Cabinet approves Light Rail Transit Project from Colombo Fort to Malabe
July 11, 2018 (LBO) – Cabinet nod has been received to implement an elevated Light Rail Transit (LRT) line from Multi-Modal Transport Centre in Colombo Fort to Malabe.According to the proposal presented by Megapolis Minister Champika Ranawaka, 17 km long, two light railways will be built under the Japanese funded project.Malabe to Fort is a […]
Pidilite opens new adhesive manufacturing plant in Polgahawela
Jul 11, 2018 (LBO) – A state-of-the-art manufacturing plant of Pidilite Lanka (Private) Limited was formally commissioned at Polgahawela in Sri Lanka’s North Western Province, recently. It is a joint venture of India’s Pidilite Industries Limited. The company is well-known brands in Sri Lanka include FEVICOL, the high-performance range of adhesives and Dr. FIXIT, an advanced […]
Sri Lanka President, Fin Min agree to go ahead with fuel price formula, Prices hiked
Jul 10, 2018 (LBO) – Sri Lanka’s President and Finance Minister following meeting earlier Tuesday decided to revise its fuel prices according to an earlier cabinet approved pricing formula. Accordingly the price of one litre of Petrol (Octane 92) will be increased by 8 rupees to 145 rupees, Petrol (Octane 95) will be increased by 7 rupees to […]
Central Bank instructs SFSP to pay 10-pct of deposit liabilities from today
July 10, 2018 (LBO) – Monetary Board of the Central Bank has instructed Swarnamahal Financial Services PLC (SFSP) to pay urgently 10 percent of deposit liabilities commencing from today, considering the requests of the depositors.Central Bank said the details of the payment plan will be informed to depositors by Swarnamahal Financial Services PLC shortly. Central Bank […]
SLASSCOM elects new chairman, board, and general council for 2018/2019
Jul 09, 2018 (LBO) – SLASSCOM, a representative body that represents growth of the Sri Lankan IT and BPM Industry elected Jeevan Gnanam, chief executive officer/director, Orion City as the organizations Chairman during its Annual General Meeting recently. The members also elected the office bearers for the term 2018/19. Addressing the gathering, Jeevan shared a five-point […]
‘s govt gets USD 50Mn loan from OPEC fund for international development
Jul 09, 2018 (LBO) – Sri Lanka’s government signed a loan agreement for obtaining financial assistance of US 50 million dollars from OPEC fund for International Development (OFID) for implementation of technological education development programme Under current portfolio, OFID provides financing for road and irrigation sectors. The lines and working pattern of our workforce is bound […]