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Sri Lanka gets first bamboo–to-timber board production line with UNIDO backing
Nov 27, 2019 (LBO) – UNIDO, with the public sector, has granted hi-tech machinery for the production of bamboo boards from within Sri Lanka for the first time. The first such hi-tech machinery series used for the production of bamboo boards to be set up in Sri Lanka greatly enhances creation of glue-laminated timber boards […]
Dinesh Gunawardena calls on Foreign Ministry officials to rise to new challenges
Nov 27, 2019 (LBO) – Minister of Foreign Relations Dinesh Gunawardena assumed duties yesterday that the entire country is looking towards the Foreign Ministry to find solutions for external pressures and challenges. “Hence, it is necessary for the officers in the Ministry and the network of missions to work dedicatedly towards overcoming these challenges,” he […]
Sri Lanka cable maker ACL buys 51-pct stake in local cable firm for Rs481mn
Nov 27, 2019 (LBO) – Sri Lanka’s cable and conductor manufacturer, ACL Cables has entered into a share sale and purchase agreement to acquire 51 percent of the issued shares of Cable Solutions (Private) Limited for 481 million rupees. The overall transaction contemplated includes the purchase of up to 75 percent of the issued shares […]
How Digital Marketing can boost your business
No matter what kind of business you are running, you could use the digital environment to experience more growth in your business. Digital marketing could increase awareness of your business through various methods since most people have shifted their focus to online content than traditional forms of publications. Digital marketing is the act of promoting […]
4IR: A challenge or an opportunity for gender equality
Institute of Policy Studies – IPS These technological advances of the hold significant implications on existing gender structures and balances, especially in the labour market. While optimists point out to opportunities for strengthening women’s position through greater gender equality through the 4IR, counterarguments that are put forward signal the 4IR would be ‘gender blind’. Entrenched […]
Government puts Enterprise Sri Lanka loan scheme on-hold for review
Nov 26, 2019 (LBO) – Sri Lanka’s newly formed government has decided to put Enterprise Sri Lanka along with other concessionary loan schemes launched by the previous government on hold until a systematic study is carried out. The government’s position is that existing credit schemes should be identified and implemented in priority areas of the […]
Indian Naval Ship ‘Nireekshak’ arrives at Trincomalee harbour
Nov 26, 2019 (LBO) – The Indian Naval Ship ‘Nireekshak’ arrived at the port of Trincomalee on a training visit and the ship was warmly welcomed by the Sri Lanka Navy in accordance with naval tradition. Upon her arrival yesterday, the Commanding Officer of the vessel, Commander BK Prashant called on Commander Eastern Naval Area, […]
Fitch affirms Ceylon Electricity Board at AA+; outlook stable
Nov 26, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka-based Ceylon Electricity Board’s (CEB) National Long-Term Rating at ‘AA+(lka)’ with a stable outlook. The rating on CEB, which is 100% state-owned, is equalised with that of the Sri Lankan sovereign (B/Stable), reflecting strong linkages with the parent, in line with Fitch’s Parent and Subsidiary […]
Opinion: Helping Sri Lankan workers in South Korea save better
Janaka Wijayasiri Sunil has been employed in South Korea for the last three and a half years, working for a Small and Medium Enterprise (SME) manufacturing automobile parts, in the industrial town of Ansan, in the outskirts of Seoul. He earns KRW 2.5 million or LKR 400,000 a month with overtime and night-shift allowances – […]
MR assumes duties as Minister of Finance, Economic & Policy Development
Prime Minister Mahinda Rajapaksa on Monday assumed duties as the Minister of Finance, Economic and Policy Development at the Secretariat, Colombo 01.
Door is open for a rate cut: First Capital Research
Nov 25, 2019 (LBO) – First Capital Research believes that there is a possibility for a rate cut considering the need to address the sluggishness in economic activity despite the 50 bps rate cuts each in May and Aug. “The external outlook favouring SL, easing political uncertainty and positive macro environment provides an opportunity for […]
Sri Lanka’s Central Bank Governor to leave his post in December
Nov 25, 2019 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy is planning to leave his post in December, a foreign media report said. “I tended a letter of resignation on Nov. 4. It has nothing to do with elections and politics,” Coomaraswamy told Bloomberg. “It has been in the making since last year, […]