Category: Other
‘s agriculture to be modernized with World Bank funding
May 26, 2016 (LBO) – Sri Lanka’s cabinet has approved implementation of a five-year Agriculture Sector Modernization Project with 125 million US dollars granted by the International Development Agency of the World Bank. “It is necessary to implement policies that aim on improving the productivity of agriculture and to create high valued export agriculture for […]
European Union gives Rs.32.8mn for flood, landslide victims in Sri Lanka
May 26, 2016 (LBO) – The European Commission is providing 200,000 Euro (Rs. 32.8 million) in humanitarian funding to assist the most affected populations from floods and landslides in Sri Lanka. This aid will directly benefit 20,000 individuals who have been heavily impacted in five of the worst-hit districts in the country’s West, namely Colombo, Gampaha, […]
Ceylinco Life’s Life Fund crosses Rs 70 billion in 28 years
Ceylinco Life has announced that the company’s Life Fund crossed Rs 70 billion at end April 2016, making it the only local life insurer to achieve the feat in just 28 years. The country’s life insurance market leader said its Life Fund had grown by Rs 2.75 billion in just four months, enabling it to […]
Honesty and good communication skills are top traits for business leader – Regus Finding
Business people across the globe reported which key traits make a successful business leader and reveal that honesty and the ability to communicate with others are the must-haves in a successful leader’s arsenal. Almost 40,000 business people globally rated a number of qualities and traits to help sketch out the portrait of a good leader […]
Overwhelming response for Venture Engine 2016 submissions
Sri Lanka’s pioneering entrepreneur empowerment platform Venture Engine has ended its “Call for Entries”, with the program having received an overwhelming response from an ever expanding pool of potential participants. Also noteworthy, the quality and variety of submissions received in 2016 has signalled a definite increase in the level of sophistication in terms of both […]
Sri Lankan climber successfully summits Mt Everest
May 21, 2016 (LBO) – Sri Lanka’s Jayanthi Kuru-Utumpala has summited the world’s highest peak, Mt. Everest, early this morning, becoming the first Sri Lankan to complete the incredible feat, the support team said. She is now descending to a lower base camp, with winds favorable. She has not yet had an opportunity to make […]
World Bank Launches Financing Facility to Protect Countries against Pandemics
SENDAI, Japan —The World Bank Group today launched the Pandemic Emergency Financing Facility (PEF), an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk. Japan, which holds the G7 Presidency, committed the first $50 million in funding toward the new initiative. “Pandemics […]
‘s subordinated debt final A(lka)
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) Basel II-compliant subordinated debentures of up to LKR6bn a final National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 26 April 2016 and follows the receipt of documents conforming to information already received. The debentures will mature in five years and carry […]
La Nina may give India heavy monsoon, Sri Lanka expects usual monsoon
May 25, 2016 (LBO) – India may have the highest monsoon rainfall in 22 years with La Nina on the cards, according to a private weather forecaster, boosting agricultural production and easing a shortage of drinking water. Although the prediction by Skymet Weather Services Pvt., a New Delhi-based private forecaster, is higher than the forecast […]
SriLankan Aviation College to expand training island wide
SriLankan Aviation College has appointed Nawaloka Air Services as its franchise partner. The new partnership intends to expand Aviation training countywide, providing invaluable opportunities for young Sri Lankans in all four Provinces to embark upon rewarding careers in the global air transport and hospitality industries. The franchise agreement was signed on 5th May 2016 at […]
India to turn Iranian port into transit hub bypassing Pakistan
May 24, 2016 (LBO) – India, Iran and Afghanistan have signed a tripartite agreement to turn the Iranian Chabahar port into a transit hub bypassing Pakistan, foreign media reported. The agreement will significantly increase the use of Chabahar port and connect India to Central Asia through Afghanistan and also provide Afghanistan access to India through […]
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Fitch Ratings has affirmed Sri Lanka’s Dialog Axiata PLC’s (Dialog) ‘AAA(lka)’ National Long-Term Rating, a statement said. The Outlook is Stable. KEY RATING DRIVERS We upgraded Dialog’s standalone credit profile to ‘AAA(lka)’ from ‘AA+ (lka)’, based on its improving financial profile backed by its continued market leadership in Sri Lanka’s growing mobile and pay-TV segments. […]