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Sri Lanka should reduce oil prices: Gammanpila
Sep 09, 2015 (LBO) – Sri Lanka should pass the benefit of falling crude oil prices to consumers, Parliamentarian Udaya Gammanpila said. Speaking at a press briefing Gammanpila asked the government to reveal the reason as to why the reduction is being delayed. The benchmark US crude oil price has hit a six-year low recently […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]
Govt agencies to be connected through GIS technology: ICTA
Sep 08, 2015 (LBO) – Geographic Information Systems (GIS) are fast becoming the platform of collaboration between organizations and the public mainly in the case of governments to enhance development, an official said.“All government buildings in Sri Lanka will be linked by high speed broadband to enable officials to share data and work in a […]
Sri Lanka sells 05, 08 and 15 year treasury bonds at 9.65–10.96-pct
Sep 08, 2015 (LBO) – The issue of treasury bonds amounting to 10 billion rupees have been oversubscribed with 60.3 billion rupees of bids received from investors.The Central Bank has accepted 3.7 billion rupees of 04 year and 08 month bonds maturing on 01 May 2020 at a weighted average yield rate of 9.65 percent. […]
Stocks close down 0.3-pct; seven week low
Sep 08, 2015 (LBO) – Sri Lankan stocks closed down 0.35 percent on Tuesday on a seven week low with the losses in John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 25.24 points at 7,122.46 lower 0.35 percent. S&P SL20 closed 16.96 points lower at 3,914.04 down 0.43 percent. […]
Sri Lanka’s jumbo cabinet promises exciting new policy initiatives
Sep 08, 2015 (LBO) – Sri Lanka’s ‘national government’ appointed a jumbo 42-member cabinet last Friday after lengthy discussions between ambitious parliamentarians, that left some analysts scratching their heads. The general public however reached for their LBO and Google search bars to find the ministry most relevant to them. For instance, a search for “development” […]
Sri Lanka’s port city project still on hold, discussion positive says CHEC
Sep 08, 2015 (LBO) – The builders of Sri Lanka’s Chinese-funded port city project say discussions are still ongoing and they await a positive reply from the government after the suspension of work. “We are actually at the discussion level,” Liang Thow Ming, Chief Sales and Marketing Officer, of CHEC Port City Colombo (Pvt) Ltd […]
Commercial Bank receives FinanceAsia Best Bank Country Award 2015
The Commercial Bank of Ceylon recently received the 2015 FinanceAsia award for the ‘Best Bank in Sri Lanka’ at a glitzy awards ceremony at the Ritz – Carlton in Hong Kong. This fifth ‘FinanceAsia Country Award for Achievement’ presented to Commercial Bank by the magazine was accepted on behalf of the Bank by its Chief […]
Sri Lanka to boost trade with Vietnam, Myanmar, Thailand through business forum
Sep 08, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) will host a business forum with the aim of boosting trade and investments Vietnam, Myanmar and Thailand, the CCC said in a statement. The forum will be held on September 11 with the presence of envoys from the three countries, honorary consuls and […]
Wijedasa Rajapakshe assuming duties at Ministry of Justice
Minister of Justice President’s Council Dr.Wijedasa Rajapakshe assuming duties at the Aluthkade Justice ministry office today (08). Mrs. Kamalani de Silva Secretary of justice ministry and senior officials of the ministry were present at this occasion.
ICRA Lanka assigns BBB rating for EAP Broadcasting
Sep 08, 2015 (LBO) – ICRA Lanka Limited has assigned an Issuer rating of BBB for EAP Broadcasting Company with a stable outlook on the rating. The full text of the rating is reproduced below. ICRA Lanka assigns [SL]BBB rating with Stable outlook to EAP Broadcasting Company Limited ICRA Lanka Limited, a wholly owned subsidiary of […]
‘s JICA, big infrastructure lender with a small case of understatement
Sept 08, 2010 (LBO) – Out of the multilateral and bilateral lenders to the island of Sri Lanka, JICA may be the most important, and the least well known. “Lot of people don’t really seem to know what JICA is. They know the ADB and the World Bank. Maybe its because we don’t have word […]