Category: Other
Interview : Hassan Esufally, first Sri Lankan to complete the ‘Inca Trail Marathon’
Sept 13, 2018 (LBO) – Sri Lankan marathoner, Hassan Esufally on a mission to earn the prestigious 7 Continents Marathon Club Membership, recently ran his first-ever marathon in South America, a gruelling 42km trail across the southern Peruvian Andes. On his challenging journey towards becoming a 7 Continents Marathon Club Member, Hassan has now completed […]
Mobitel designs mission critical secure communication network for SAGT
Mobitel, the National Mobile Service Provider was selected by the South Asia Gateway Terminals (Pvt) Ltd (SAGT), a leading container terminal operator in Sri Lanka, as its trusted provider of mission critical communications. This collaboration is even more significant for Mobitel, because this is the first-ever mission critical secure communication network implemented in Sri Lanka, […]
SriLankan Catering posts 3.9 billion rupees net profit in 2017/18
SriLankan Catering Ltd. has recorded a steady financial performance for the financial year ended 31st March 2018 with a 26% year-on-year growth in operating profits from Rs. 3.03 billion to Rs. 3.81 billion. Its unaudited financial statements also showed that the operating profit ratio which stood at 42% in the last year improved to 44% […]
”’: Report
Sept 10, 2018 (LBO) – Palo Alto-based venture capital firm Social Capital is “imploding,” according to a report in Axios by the venture capital reporter Dan Primack. The firm raised more than 1 billion US dollars and has invested in unicorn startups like Slack, SureyMonkey and now-public Box. The report, however, says partners are deeply […]
Jack Ma releases letter on retirement/transition from Alibaba
September 10, 2018 (LBO) – Alibaba Executive Chairman Jack Ma released a letter to shareholders announcing his planed transition, and eventual exit from the company. He will retire as Chairman in 2019, and from the Board entirely in 2020. Jack Ma is a global icon and China’s richest person. He has said he intends to […]
Cigarette smuggling still booming, fuelling criminality: report
Smuggled market share is around 14 to 18% for cigarettes, which translate to 500 to 700 million sticks. A 40-foot container of smuggled cigarettes can add up to a profit of between Rs. 250-400 million. The loss of tax revenue from illicit tobacco is equivalent to 27 to 40% of the annual Samurdhi spending in […]
Jegan Durairatnam appointed to Asian Hotels board as Independent Non-Executive Director
September 9, 2018 (LBO) – Former Commercial Bank CEO Jegan Durairatnam has been appointed as an Independent Non-Executive Director at Colombo Stock Exchange (CSE) listed Asian Hotels (AHPL). Commercial Bank, where Durairatnam recently retired as CEO, is the largest private sector financial institution in Sri Lanka. Durairatnam was also recently appointed as an Independent Non-Executive […]
Colombo Port tops Alphaliner global container port rankings for first time
Sept 09, 2018 (LBO) – Colombo Port has been ranked as the fastest growing container port out of 30 major ports in the world for the first half of this year.In container handling, Colombo Port has recorded a 15.6 percent growth for the first half of 2018 over the same period of last year according […]
Elon Musk rattles the markets with 2 hour long interview; Video embedded
September 9, 2018 (LBO) – Elon Musk sent shockwaves through the markets after his interview with infamous podcaster Joe Rogan.The interview sent Tesla shares crashing as pictures circulated of Musk drinking whiskey and taking a puff of a marijuana infused tobacco product.Tesla shares are set to bounce on Monday as the company released an email […]
Hanaa Singer assumes duties as UN Resident Coordinator in Sri Lanka
Sept 07, 2018 (LBO) – Hanaa Singer, presented her credentials to President Maithripala Sirisena as the new United Nations Resident Coordinator and United Nations Development Programme Resident Representative, at his residence on Wednesday.As the most senior UN Official in the country, Ms.Singer will lead the UN Country Team of 22 Resident and Non-Resident UN Agencies and […]
CA Sri Lanka launches auditing standard for Non Specified Businesses; first in South Asia
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), recently launched the Sri Lanka Auditing Standard (SLAuS) for the Audits of Non – Specified Business Enterprises (Non-SBEs)”. Chief Guest at the launch, Minister of Industry and Commerce, Mr.Rishad Bathiudeen commended the Institute for making Sri Lanka the first country in South Asia to […]
Teplitz confirmed by the U.S. Senate as the next American Ambassador to Sri Lanka
September 7, 2018 (LBO) – Alaina Teplitz has been confirmed by the U.S. Senate as the next ambassador to Sri Lanka. Teplitz is a career foreign service officer who last served as the United States Ambassador to Nepal. She has been with the U.S. foreign service for almost 30 years and is an alumnus of […]