Category: Industry
Sri Lanka has had wrong policy in transport: Eran
Dec 31, 2015 (LBO) – Sri Lanka has had wrong policy in encouraging private transport and congesting the roads, making it inefficient and polluting the environment, a deputy minister said.“As you can see we have too many vehicles on the roads,” Eran Wickramaratne, deputy minister, State Enterprise Development said.“The biggest frustration when you land at […]
Megapolis plan presented to President, USD 30bn worth investments in pipeline
Dec 31, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena was presented with the new government’s Megapolis Plan formulated to develop the island’s Western Province by Minister Champika Ranawaka on Wednesday.Minister of Megapolis and Western Development, Champika Ranawaka said Sri Lanka will be able to get about 30 billion dollars worth investments within next 10 […]
China to ink FTA with Sri Lanka
Dec 30, 2015 (LBO) – China will have discussions with Sri Lanka next year on a proposed Free Trade Agreement (FTA) in a bid to build stronger trade and investment ties, a foreign news report said. Gao Hucheng, the Chinese Minister of Commerce was quoted on Chinese news agency Xinhua as saying that China […]
Sri Lanka stocks close down 0.4-pct: Volume at 21 month low
Dec 28, 2015 (LBO) – Sri Lankan stocks closed down at 0.44 percent following a Christmas long week-end holiday with index heavy and banking sector stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed lower at 30.13 points at 6,828.51 down 0.44 percent. S&P SL20 closed 11.03 points down at 3,592.87 […]
Tourists to Maldives edge up despite recent emergency
Dec 28, 2015 (LBO) – Maldives reported higher tourist arrivals in November despite a recent state of emergency, a media report said. The number of tourists who visited the Maldives last month increased by 0.5 percent to 90,218 from 89,778 in November 2014, statistics published by the tourism ministry showed. A total of 1,114,993 tourists […]
Sri Lanka to set up Dispute Resolution Tribunal for sports
Dec 23, 2015 (LBO) – Sri Lanka’s sports ministry is to establish a separate tribunal for the speedy resolution of disputes arising in the sports sector. Sports Minister Dayasiri Jayasekara speaking to media stated that a 10 member tribunal will be set up for this task which will consist of retired judges.“We want to expedite […]
SriLankan operates special Bangkok-Colombo flight following cancellation
Dec 23, 2015 (LBO) – SriLankan Airlines has made arrangements for 32 passengers with onward connections in Colombo to travel on flights of other airlines after an aircraft engine cowling was damaged on the ground at Bangkok’s Suvarnabhumi Airport, resulting in the Bangkok-Colombo Flight UL883 being cancelled. The incident has taken place when a baggage cart operated by […]
‘s Subordinated Debentures AA-(lka)(EXP)
Dec 23, 2015 (LBO) – Fitch Ratings Lanka has assigned Commercial Bank of Ceylon proposed Basel II-compliant subordinated debentures of up to 7 billion rupees an expected National Long-Term Rating of AA-(lka)(EXP).The proposed issuance, which will have tenors of five and ten years and carry fixed coupons, will be listed on the Colombo Stock Exchange. […]
No movement of professionals under Indo-Lanka pact: Harsha de Silva
Dec 23, 2015 (LBO) – Deputy Minister of Foreign Affairs Harsha de Silva requested professionals not to mislead the public with false statements as there is no movement of natural persons under proposed Indo – Lanka economic pact.Speaking at a press briefing de Silva emphasized that there is no point of holding union actions with […]
‘s outstanding debentures BBB+(lka)
Dec 22, 2015 (LBO) – Fitch Ratings has assigned LB Finance’s outstanding rupee denominated subordinated debentures a National Long Term Rating of ‘BBB+(lka)’. The debentures mature in 2016, 2017 and 2018 and have total value of 2.545 billion rupees. A full list of LB’s ratings is given below. KEY RATING DRIVERS The outstanding subordinated debentures are rated one […]
Sri Lanka expects EU fishing ban to be revoked by mid 2016
Dec 22, 2015 (LBO) – Sri Lanka is looking at a favorable response about the lifting of EU fishing ban from the European Parliament by mid next year, the Fisheries Minister said. “During the coming months the proposal to lift the fishing ban will be presented to the European Parliament,” Fisheries Minister Mahinda Amaraweera said. […]
Sri Lanka appoint more ministers
Dec 22, 2015 (LBO) – Sri Lanka President Maithripala Sirisena appointed Priyankara Jayarathne as the State Minister of Local Government and Provincial Councils, who sworn in before President Maithripala Sirisena at the Presidential Secretariat yesterday (Dec.21) and Sarathi Dushmantha Mithrapala as the Deputy Minister of Buddha Shasana. Mithrapala is also the current Deputy Minister of […]