Category: Other
London swears in first Muslim Mayor
May 09, 2016 (LBO) – The United Kingdoms Labour party candidate Sadiq Khan was sworn in as London’s first Muslim mayor last weekend. Having won 1,310,143 votes, Khan received the largest personal mandate of any politician in UK history. New mayor Khan said he will “put London first” as he looked to move on from the […]
‘s subordinated debt BBB+(lka)(EXP)
Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed Basel II-compliant subordinated debenture issue of up to LKR5bn a National Long-Term Rating of ‘BBB+(lka)(EXP)’. The debentures will have tenors of five and seven years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange and the bank plans […]
Sri Lanka wants LNG-driven power, to shift away from coal: Govt official
May 06, 2016 (LBO) – Sri Lanka wants more power generation from Liquefied Natural Gas (LNG), because natural gas is attractively priced in international markets, and will rely less on coal, a government official said. “It is a very compelling case to start gasifying Sri Lanka using, initially, imported LNG, and then at some point […]
Inland Revenue Act to be redrafted with international standards
May 05, 2016 (LBO) – The Cabinet of Ministers have approved a proposal made by Finance Minister Ravi Karunanayake to instruct the Legal Draftsman to redraft the Inland Revenue Act according to international standards improving clarity and transparency. The Inland Revenue Act No 10 of 2016 provides legal provisions to impose income tax in Sri […]
CSE, CFA rings opening bell to support ‘Putting Investors First Month’
The Colombo Stock Exchange (CSE) and the CFA Society Sri Lanka jointly held a special market opening ceremony yesterday in support of the “Putting Investors First Month” campaign, as a to call attention to the needs and rights of investors. The Putting Investors First Month is a month-long global initiative focused on promoting the needs […]
‘s Central Bank appoints new Assistant Governors
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S. Korea asks Sri Lankan returnee workers to claim insurance benefits
The Employment Permit System Centre of the Human Resources Development Service of Korea (EPS Centre of HRD Korea) in Sri Lanka filed claims for returnee workers who previously worked in South Korea and were not compensated for their Return Cost (Air Ticket) Insurance and Departure Guarantee Insurance. The Return Cost Insurance should be obtained by […]
Slogal Energy buys stake in Laugfs Gas Bangladesh for USD9.2mn
May 04, 2016 (LBO) – A fully owned subsidiary of Laugfs Gas Plc, Slogal Energy DMCC, incorporated in Dubai has acquired 31 percent of the total issued shares in Laugfs Gas Bangladesh for 9.2 million US dollars. Laugfs Gas Plc said in a stock exchange filing that they own the balance 69 percent shareholding of […]
Mawilmada to head Sri Lanka Megapolis investments
May 04, 2016 (LBO) – Nayana Mawilmada has joined Sri Lanka’s Western Region Megapolis Planning Project (WRMPP) as head of investments, leaving his role as director general of the Urban Development Authority. Aside from continuing to lead some of the planning efforts, Mawilmada will function as the primary interface between the Megapolis project and potential […]
50th Anniversary of Washington Buddhist Vihara
Washington Mayor Muriel Bowser attending the 50th Anniversary of the establishment of the Washington Buddhist Vihara on May 1, 2016 declared the day as “the Washington Buddhist Vihara Day”, recognizing in the Declaration that the District of Columbia is the home to the first Theravada Buddhist Temple in America and that the Vihara has been […]
Fitch affirms Singer (Sri Lanka) at A-(lka); outlook stable
Fitch Ratings has affirmed Singer (Sri Lanka) PLC’s (Singer) National Long-Term Rating at ‘A-(lka)’. The Outlook is Stable. A full list of rating actions is at the end of this commentary. Singer’s rating is supported by our expectations that the company will be able to weather weakening demand because of its strong market leadership, extensive product and brand […]
Xpressjobs.lk raises disability-friendly employment awareness
Sri Lanka’s Xpressjobs.lk is a startup that was launched in November 2015, to fill a vacuum between jobseekers and job-offerers. Pioneered by Chathum Henegama and Dr. Oshadie Korale the website is meant to provide a relevant platform for job seekers to connect with companies that require staff in a quick and effective manner. The online […]