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Japan’s SBI group invests USD2Mn in Sunshine Energy
Jul 29, 2019 (LBO) – Japan’s SBI Group will be investing US 2 million dollars in Sunshine Energy to further expand on renewable energy production, a statement said. Sunshine Holdings PLC (CSE: SUN) announced that SBI Ven Holdings (Pte) Limited, the overseas private equity firm of SBI Holdings Inc., has invested US 2 million dollars […]
Sri Lankans must act together in favour of sustained democracy, says UN expert
July 27, 2019 (LBO) – The people of Sri Lanka must act together to secure democracy, human rights and the rule of law, says the UN Special Rapporteur on the rights to freedom of peaceful assembly and of association, Clément Nyaletsossi Voule. “At the root of the rights to freedom of peaceful assembly and of […]
Sri Lanka will be in crisis until we create equal Sri Lanka for all: Mangala
ADJOURNMENT DEBATE ON CONSTITUTIONAL REFORM Mr. Speaker, Following the attempted coup and Easter Sunday bombings many of our fellow citizens ask why our country continues to veer from one crisis to another. They are right to do so. The history of Sri Lanka is a history of crisis. In the last seventy odd years, we […]
TNA is neither here nor there today: Opposition Leader
July 26, 2019 (LBO) – Sri Lanka’s Opposition Leader, Mahinda Rajapaksa says that the Tamil National Alliance (TNA) is neither in the opposition nor in the government today. Speaking in Parliament at the debate on the constitutional reform process, the Opposition Leader said that there is nothing that the TNA has achieved over the past […]
Srilankan Airlines corporate offices relocate to Airline Centre, Katunayake
July 26, 2019 (LBO) – All corporate offices of SriLankan Airlines which were located at the World Trade Centre, Colombo have now been relocated to its Headquarters at the Airline Centre, Bandaranaike International Airport, Katunayake. Accordingly, the addresses of the relocated corporate offices have been changed to ‘Airline Centre, Bandaranaike International Airport, Katunayake.’ whilst the […]
BOI issues directive to all Hub Operators banning importation of post-consumer materials
July 26, 2019 (LBO) – Sri Lanka’s Board of Investment has issued a directive to all Hub Operators prohibiting with immediate effect, importation of post-consumer materials and engaging in any resources recycling activities of any form. The BOI said in a statement that they will take stern action for any non-compliance of its directives and […]
Sri Lanka’s 1st dollar sovereign bond fund poised for global investors
Jul 26, 2019 (LBO) – Strong demand on the recent issuance of Sri Lankan International Sovereign Bonds (ISB) signals potential for a strong economic recovery according to Ceylon Asset Management (CAM)) Director and Economic Advisor, Rainer Michael Preiss. “The decline in Sovereign Bond Yields indicate that the worst is over for Sri Lanka. The coupon […]
JKH transportation, consumer foods and retail witness strong growth in Q1
Jul 25, 2019 (LBO) – John Keells Holdings PLC reported a 5 percent growth in Group revenue during the first quarter of the year of Rs.31.74 billion compared to the Rs.30.16 billion recorded in the previous financial year. The Transportation, Consumer Foods and Retail industry groups continued their growth momentum from the previous quarter despite […]
Sri Lanka expects to resume tea exports to Iran from August
July 25, 2019 (LBO) – Sri Lanka expects to resume Ceylon Tea exports to Iran under a special barter agreement between the two countries by the end of next month, the Plantation Ministry said. According to the ministry, Ceylon Tea will be exported to Iran to settle a due amount of 240 million US dollars […]
Knit fabric maker Teejay announces plans to diversify in to lace
Jul 25, 2019 (LBO) – Teejay Lanka PLC, Sri Lanka’s only multinational textile mill, has announced plans to partner with a leading Chinese company to venture into the manufacture of lace, thereby significantly expanding the Company’s product portfolio. As a first step, Teejay is to commence dying, finishing, and scalloping of raw lace material supplied […]
Foreign Minister clarifies appointments for UN Special Rapporteur
Special Statement by Tilak Marapana, Minister of Foreign Affairs in Parliament – 25.07.19 It has been brought to my notice that last Tuesday (23 July) and Wednesday (24 July) several Members of the Parliament have brought up the issue of the visit of the Special Rapporteur on the freedom of assembly and of association, Mr. […]
ETL Colombo denies claims as the importer of waste cargo
Jul 25, 2019 (LBO) – ETL Colombo (Pvt) Ltd. outrightly denied any claims that they are the ultimate importer of the 130 containers of “Used Mattresses” imported to Hayleys Free Zone, Katunayake for reprocessing and re-export as legally permitted by the Hub Act. The actual owner and the key stakeholder of the said cargo is […]