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Sri Lanka commence construction of USD2.2Bn LRT project
Aug 16, 2019 (LBO) – The Ministry of Megapolis and Western Development has commenced phase one of the construction work of the Malabe and Colombo Fort Light Rail Transit (LRT) project. The Ministry has commenced the borehole testing of 200 locations to start construction of the pillars required for the LRT. Five specialized companies have […]
Melstacorp records Rs. 8.9 bn PAT for 2018-19
Aug 16, 2019 (LBO) – The Melstacorp group’s profit after tax for the financial year 2018-19 was 8.9 billion rupees compared to the previous year’s figure of 6.2 billion rupees, up by 41 percent. Group turnover reached 156 billion rupees and the group contributed 64 billion rupees as taxes during the same financial year. Melstacorp […]
ComBank improves Q2 earnings despite challenges
The Commercial Bank Group has reported operating profit before impairment charges and taxes of Rs 19.476 billion for the first half of 2019, a 9.45% increase over same period of 2018. Sri Lanka’s benchmark private bank, the Commercial Bank of Ceylon PLC, its subsidiaries and associates recorded gross income of Rs 73.587 billion for the […]
New UNDP Resident Representative takes office
Robert Juhkam presented his credentials on 15 August 2019 to Tilak Marapana, Minister of Foreign Affairs, officially taking office as the new Resident Representative for UNDP in Sri Lanka. Prior to his appointment in Sri Lanka, Juhkam served as the Strategic Planning Advisor at the UNDP Bureau of External Relations and Advocacy in New York, […]
Teejay extends partnership with University of Moratuwa
Teejay Lanka PLC, one of the largest knit fabric providers in South Asia, has announced an extension of its support to the University of Moratuwa for another two years, further strengthening a long standing and mutually beneficial partnership. A memorandum of understanding first signed in 2014 provided the now tight-knit organisations with a framework for […]
CIM appoints Onalie Dissanayake as new head for Sri Lanka & Maldives
The Chartered Institute of Marketing (CIM), the world’s leading professional body for marketing, has appointed Onalie Dissanayake to head up CIM in Sri Lanka and the Maldives. Onalie will lead a newly established office in Colombo supporting Sri Lanka’s more than 2,000 members and 1,500 affiliate studying members.An experienced senior figure in Sri Lanka’s education […]
Sri Lanka to present Vote on Account for 1Q 2020 instead of fully-fledged budget
Aug 14, 2019 (LBO) – Sri Lanka’s cabinet yesterday approved a proposal to present a Vote on Account (VoA) to allocate state expenditure for the first quarter of 2020 as it will be nonsensical to present a fully-fledged budget in the wake of a presidential election. Since the Presidential Election is due at the end […]
UN Special Rapporteur on Freedom of Religion, Ahmed Shaheed to visit Sri Lanka
Aug 13, 2019 (LBO) – The UN Special Rapporteur on freedom of religion or belief, Ahmed Shaheed, will carry out an official visit to Sri Lanka, from 15 to 26 August 2019. “I will look at how Sri Lanka promotes and protects the rights to freedom of religion or belief.The visit will be an opportunity […]
Sri Lanka’s Hayleys to issue listed debt
Aug 13, 2019 (LBO) – Colombo Stock Exchange has approved in principle an application for listing the debt securities of Hayleys PLC. Hayleys said in a stock exchange filing that the company expects to raise 3 billion rupees by the issue of 20 million five-year debentures at 100 rupees each with an option to issue […]
Arpico Finance partners with mCash to offer digitalized payments
The revolutionary mobile money platform, mCash, which is transforming the country’s electronic payments landscape, has partnered with Arpico Finance PLC to offer customers the facility to make payments via mCash. As a result of this partnership, Arpico Finance Company PLC customers can make their finance and leasing payments via mCash with much more convenience. Customers […]
‘ll never allow anyone to infringe sovereignty of Sri Lanka: Gotabaya (Full Speech)
Venerable Maha Sangha and religious dignitaries from the Christian, Hindu, Islamic and other faiths.5th Executive President of Sri Lanka, HE Mahinda Rajapaksa, Honourable Members of Parliament and other public representatives, Party Leaders.Professionals, War Heroes, Artistes, Media Personnel, Representatives of National Organisations, Trade Unions. Those of you who represent every corner of our motherland. All patriotic […]
Our candidate will be next president of Sri Lanka, not Gota: Mangala
Statement by Mangala Samaraweera M.P. Earlier today, former President Mahinda Rajapaksa announced the presidential candidate for his family’s new political party, the Sri Lanka Podujana Peramuna (SLPP). For weeks he refused to confirm the circulating rumours about who the candidate would be.I have known Mahinda Rajapaksa for many years.We worked together side-by-side in the Sri […]