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Sri Lanka’s FLC Hydro Power commissions its fourth power plant
June 15, 2015 (LBO) – Sri Lanka’s FLC Hydro Power which has interests in building, owning, operating and maintaining hydro power generation facilities in the island has commissioned its 800Kw plant on 11 June 2015.Newly built mini hydro power plant is owned by Thebuwana mini hydro private limited which is a wholly-owned subsidiary of FLC […]
Sri Lanka stocks close up 0.3-pct for second straight day
Jun 15, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.33 percent for a second consecutive session with index heavy stocks making gains Monday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 17.69 points higher at 7,78.97 up 0.33 percent. The S&P SL20 closed 12.95 points higher at 3,926.96, up 0.25 […]
Singer Finance to enter the Credit Card business
June 15, 2015 (LBO) – Sri Lanka’s Singer Finance said it plans to launch a credit card in the latter half of this year targeting rural consumers, the company told shareholders in its annual report of 2014/2015. The company said that it has applied to the Central Bank of Sri Lanka for a license to […]
Sri Lanka’s President appoints Gagan Bulathsinhala as new Air Force Commander
June 15, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Air Vice Marshal Gagan Bulathsinhala as the new Commander of the Sri Lanka Air Force, the President’s Media Division told LBO.Bulathsinhala will replace the former Commander Kolitha Gunatilleke, who is to assume duties as the Chief of the Defence Staff.Bulathsinhala served in several […]
Sri Lanka Tourism – Korean Air to promote South Korean market to double the visitors
June 15, 2015 (LBO) – Sri Lanka tourism promotion bureau joined hands with Korea Airlines to promote tourism to the South Korean market in order to double the arrivals to the Island, a statement said. “Sri Lanka currently attracts 13,000 visitors from South Korea and we want to double this volume within a year and […]
Aitken Spence to build two resorts in Maldivian Islands, bullish about tourist potential
June 15, 2015 (LBO) – Sri Lanka’s Aitken Spence group said it plans to start construction of two new resorts in Maldives which will add 360 room to its portfolio and boost capacity in Maldives by 57 percent. The group acquired two islands, Aarah Island in Raa Atoll in 2014 and Raa Fushi in Noonu […]
Sri Lanka holds discussions with Global Tamil Forum over renouncing violence
June 15, 2015 (LBO) – Sri Lanka’s Foreign Minister Mangala Samaraweera told Parliament recently that he had discussions with the Global Tamil Forum over a declaration renouncing violence as a means of achieving political objectives. “We discussed about a public declaration renouncing violence as a means of achieving political objectives and a public commitment to […]
UNP bashes opposition leader; demands President to dissolve Parliament
June 14, 2015 (LBO) – Sri Lanka’s ruling United National Party at its working committee meeting held last Friday unanimously agreed to demand President the immediate dissolution of the Parliament.Issuing a statement UNP decision making body bashed at opposition leader for trying to topple the 20th amendment by bringing in a no confidence motion against […]
US to test Nestlé’s Maggi after product pulled from Indian shelves
June 13, 2015 (LBO) – United States Food and Drug Administration to test Maggi noodles, which was pulled out from Indian shelves, last week foreign media reported.The Nestle India faced a troublesome period after Indian authorities claimed to have established that Maggi noodles contains excessive levels of lead in MAGGI noodles.Nestle India exports Maggi noodles […]
Won’t support to bring back Rajapaksa: CBK
Jun 13, 2015 (LBO) – Sri Lanka’s former President Chandrika Bandaranayake Kumaratunge says she will not support and endorse the comeback of former President Mahinda Rajapaksa on a matter of principle. “It was not a party that the people defeated; it was the Rajapaksa government that the people defeated,” Kumaratunge told reporters in Colombo, Friday. […]
Sri Lanka sells Rs15 bn in 07 and 09 year bonds; rupee falls to record low
June 12, 2015 (LBO) – Sri Lanka has sold 15 billion rupees of seven and nine year bonds after calling bids for 12 billion rupees of bonds, the state debt office said.The debt office on Friday sold 5.35 billion rupees of seven year bonds maturing on 01 October 2022 at a weighted average yield of […]