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ICRA Lanka revises outlook on issuer rating of BoC to negative
Oct 21, 2019 (LBO) – ICRA Lanka Limited, subsidiary of ICRA limited, a group company of Moody’s Investors Service, has reaffirmed the issuer rating of Bank of Ceylon at [SL]AAA. The outlook on the rating is revised to negative from stable. Rationale The revision in outlook factors in BOC’s moderate capitalisation levels with steady decline […]
Sri Lanka urges UN Secretariat to fulfill financial obligations to peacekeepers
Oct 21, 2019 (LBO) – Sri Lanka urges the United Nations Secretariat to fulfill its financial obligations with regards to the peacekeepers identified to be replaced, at the point of repatriation and adds that it was important for the UN Secretariat to ensure a predictive system of payment on all dues concerning peacekeeping operations. Sri […]
Global Entrepreneurship Network to formally launch in Sri Lanka
The Global Entrepreneurship Network (GEN) is to formally launch in Sri Lanka with a core group of eminent personalities that are in the forefront of entrepreneurship development and ecosystem building as its Board of Directors. GEN, works to celebrate, understand, support and connect entrepreneurship around the world by creating deeper collaboration between entrepreneurs, investors, researchers, […]
Sri Lanka FIU to obtain direct access to INTERPOL information system
Oct 18, 2019 (LBO) – Sri Lanka’s Financial Intelligence Unit (FIU) entered into an agreement with INTERPOL National Central Bureau for Sri Lanka (NCB Colombo) recently to obtain direct access to the INTERPOL Information System. Money laundering and terrorist financing are internationally connected financial crimes that could threaten the stability of domestic as well as […]
BOI enters into supplementary agreement with concrete poles manufacturer
Oct 18, 2019 (LBO) – Sri Lanka’s Board of Investment signed a supplementary agreement with Senaka Zenn (Private) Limited to set up a project to manufacture pre-stressed spun concrete electrical poles, piles and railway sleepers for both local and export markets. The initial investment made by the Company was 10.3 million US dollars. The Supplementary […]
Emirates unveils special fares from Colombo to Mexico City
Travel enthusiasts in Sri Lanka seeking new destinations to conquer can visit Mexico City at a significant saving from 9th December, when Emirates commences flights to the destination via Barcelona in Spain, subject to government approval. The award-winning airline has announced special introductory fares starting at US$ 1,338 (approximately Rs 241,000/- at current exchange rates) […]
Colombo meeting presses for rationalization of areas of cooperation and adoption of a BIMSTEC Charter
Rationalization of areas of cooperation of Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) and draft Charter of the organization were deliberated and a draft Memorandum of Understanding (MoU) to be signed between the BIMSTEC Secretariat and the Asian Development Bank was agreed on during the 2nd meeting of the (BIMSTEC) Permanent […]
Uber Eats marks first anniversary as online sales grow
Oct 18, 2019 (LBO) – Uber Eats, an on-demand food delivery app, has delivered more than 3 million orders and completed its first successful year of operations in Sri Lanka to become a dominant player in the market. Launched in Colombo in 2018, Uber Eats is committed to make eating effortless at any time and […]
SriLankan Airlines clinches South Asia’s No 01 slot again
Oct 18, 2019 (LBO) – SriLankan Airlines was adjudged the ‘Leading International Airline’ in South Asia for the third consecutive year at the South Asian Travel Awards 2019 (SATA) and also bagged the ‘Leading Airline Passenger Class – Business’ award for the third year running, beating out many top airlines in the region. SriLankan Airlines […]
Sri Lanka to set up Public Debt Management Bureau under Finance Ministry
Oct 17, 2019 (LBO) – Sri Lanka’s cabinet nod has been received to establish a Public Debt Management Bureau under the Finance Ministry with the aim of entrusting the public debt management to a single entity. Accordingly, a five-member Public Debt Management Committee chaired by the Secretary to the Treasury will be appointed to draft […]
SriLankan Airlines concludes Melbourne Marathon
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, coinciding with the second anniversary of its operations to Melbourne, successfully concluded SriLankan Airlines Half Marathon event at the Melbourne Marathon Festival for the third consecutive year. The 2019 event in its 42 year-long Festival history attracted a total of […]
Opinion: Cigarette smuggling in Sri Lanka, Hype vs. Reality
By Harini Weerasekera In the run up to elections, Sri Lanka is once again witnessing various news activities highlighting how the government is losing revenue due to increased consumption of illicit cigarettes and beedi. However, the wider government policy on tobacco control is aimed to reduce smoking rates and the related direct and indirect costs […]