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Youth leaders vow continued pressure to address climate emergency
Sep 23, 2019 (LBO) – A day after thousands of young people marched and rallied for urgent climate action, young leaders brought their message to the United Nations for the Youth Climate Summit, the opening salvo of the three days long United Nations Climate Action Summit, which will culminate today. The Youth Climate Summit—the first […]
Ranil rubbishes criticism of Cabinet move to abolish Executive Presidency
September 22, 2019 (LBO) – Unofficial English Translation of the Statement of the Prime Minister today: Prime Minister Ranil Wickremesinghe addressing party activists today (22) at Temple Trees in Colombo: A group of civil society representatives met with me last week to talk about what our government has done and failed to do. I informed […]
” to do a good thing – Sumanthiran on Executive Presidency
September 21, 2019 (LBO) – TNA MP M. A. Sumanthiran commenting on the potential abolition of Sri Lanka’s Executive Presidency has stated that there is “No ‘bad time’ to do a good thing… even at the 11th hour do what was promised for 25 years.” Sumanthiran’s comments come after a widely reported contentious emergency Cabinet […]
Teejay grabs ‘Best Exporter Award –Textile Sector’ at Presidential Export Awards
Teejay Lanka PLC, Sri Lanka’s only multinational textile manufacturer, was adjudged the Best Textile Exporter in Sri Lanka at the 2019 Presidential Export Awards presented by the Export Development Board (EDB). The ‘Best Exporter Award –Textile Sector’ presented to the Company at the 23rd edition of this awards programme, marked Teejay Lanka’s debut at this […]
Global financial assets fall, SL economy slows: Report
Sep 20, 2019 (LBO) – Allianz’s Global Wealth Report, which puts the asset and debt situation of households in more than 50 countries/regions under the microscope says financial assets in 2018 across industrial and emerging countries/regions declined simultaneously for the first time. Savers worldwide have found themselves in a bind, due to the escalating trade […]
Enterprise Sri Lanka introduces mobile service islandwide
Sep 20, 2019 (LBO) – The Finance Ministry has made arrangments to reach the people and conduct Enterprise Sri Lanka mobile service island-wide in order to provide capital loans at subsidised interest rate for small and medium, self employment or industries. Accordingly, Enterprise Sri Lanka mobile service will be held at the Kirindiwela Maha Vidyalaya […]
Executive Presidency abolition blocked, MPs who campaigned on abolition platform responsible
September 20, 2019 (LBO) – Last minute moves to advance proposals to abolish Sri Lanka’s Executive Presidency were blocked yesterday, ironically by Members of Parliament who campaigned on an abolition platform. In a sudden twist of Sri Lanka’s ongoing Presidential election drama, President Maithripala Sirisena summoned an emergency cabinet meeting in order to discuss proposals […]
CBSL permits Sinhaputhra Finance to implement proposed capital augmentation plan
Sep 19, 2019 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to provide Sinhaputhra Finance with an opportunity to implement the proposed capital augmentation plan within the stipulated timeframe. Sinhaputhra Finance last month submitted an objection to the license cancellation notice issued by the Monetary Board saying that a capital […]
”’ final rating
Sep 19, 2019 (LBO) – Fitch Ratings has assigned a final ‘B’ rating to SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7 percent unsecured bonds due 25 June 2024. The rating agency said the final rating on the bonds is in line with the expected rating assigned on 19 June 2019, and follows the receipt […]
Mastercard Track to modernize USD125Tn global B2B payments market
Advances in technology and actionable real-time data are driving businesses to operate faster and smarter. Yet, business payments are often rooted in legacy practices established decades ago. Until now. Mastercard (NYSE: MA) today unveiled its plans to modernize the business-to-business (B2B) payment ecosystem with Mastercard TrackTM. The Track brand of products represents a transformational change […]
Central Bank cancels license issued to TKS Finance Limited
Sep 19, 2019 (LBO) – Sri Lanka’s Monetary Board of the Central Bank has decided to cancel the licence issued to TKS Finance Limited (TKSF) to carry on finance business with effect from today. The Central Bank said the financial condition of TKSF is not satisfactory due to deficient capital level, poor asset quality, continuous […]
Resilient Sri Lanka reports positive GDP growth despite Easter Sunday terror attacks
September 19, 2019 (LBO) – Sri Lanka has reported GDP growth of 1.6% in the second quarter ended June 30, 2019. This positive growth has been reported despite the country’s tourist industry being virtually shut down after the Easter Sunday terror attacks. The Sri Lankan economy has been able to absorb serious shocks in the […]