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Jun 19, 2019 (LBO) – Fitch Ratings has assigned SriLankan Airlines Limited’s (SLA) proposed issue of US dollar government-guaranteed bonds an expected rating of ‘B(EXP)’. The proceeds of the issuance will be used to refinance the company’s 175 million dollars bond due 27 June 2019. The final rating is contingent upon the receipt of final […]
Ambassador-designate of Sri Lanka to United States, Rodney Perera assumes duties
Ambassador – designate of Sri Lanka to the United States of America, Rodney Perera assumed duties at the Embassy of Sri Lanka in Washington DC on 17th June 2019. Prior to appointment as the Ambassador to the US, Ambassador Perera was Sri Lanka’s Ambassador to Belgium, Luxembourg and the European Union. Upon arrival at the […]
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Jun 19, 2019 (LBO) – US President Donald Trump formally launched his 2020 reelection campaign Tuesday in Florida vowing to maintain his ‘America First’ policy. He railed against illegal immigration and promised mass deportations and pledged to negotiate a winning trade deal with China, or walk away altogether. “We just completed the deal with South […]
Sri Lanka’s real estate and construction industries continue stoically, post Easter Attack
(PRESS RELEASE) – Sri Lanka’s construction sector which ranks as the 5th highest in the nations GDP earnings, after Services, Manufacturing, Agriculture and Utilities continues unhindered. The sector reports continued interest from local and international buyers who believe “Sri Lanka will bounce back”, from the recent Easter Sunday attacks that took place on April 21 […]
Advocata commends Government’s decision to shut down SaluSala
Jun 19, 2019 (LBO) – Advocata Institute commends President Maithripala Sirisena’s directive to shut down the loss-making, state-owned handloom enterprise Salu Sala. While we commend this decision, we are also anticipating the official gazette enacting this statement. The SaluSala, now a white elephant to society, was once the only state textile trading enterprise in the […]
Fin Min tells Parliament that Q1 2019 growth will rebound to 3.5-pct
Jun 19, 2019 (LBO) – Sri Lanka’s economic growth has increased to 3.5 percent of gross domestic product in the first quarter of 2019, Finance Minister Mangala Samaraweera told parliament. “Our Government took the real growth to the villages.The economy in the first quarter grew at 3.5 percent against 1.8 percent last quarter of 2018, which […]
Sri Lanka vehicle registrations down in May 2019
Jun 19, 2019 (LBO) – Vehicle registrations across the board slowed except for 2 wheelers, mini and light trucks during the period May 2019, a new report shows with the turmoil in the country during that month significantly contributing. Total motor car registrations recorded 1,816 units in May down from 2,120 units in April and […]
Sri Lanka imports down 11-pct, tourism earnings down 7.5-pct in April; trade gap narrows
Jun 18, 2019 (LBO) – Sri Lanka’s trade deficit further narrowed to 797 million US dollars from 999 million dollars in April 2018, the Central Bank data showed. The considerable reduction in the trade deficit in April was due to the decline in import expenditure by 11 percent and a marginal increase of export earnings […]
Samsung Electronics remains top brand in Asia for eighth consecutive year
Samsung Electronics has been named the best brand in Asia in 2019 for the eighth year in a row, according to results from ‘Asia’s Top 1000 Brands’ annual online survey conducted by Campaign Asia-Pacific in collaboration with Nielsen. The ranking – which aggregates views from across 15 major product categories including automotive, retail, F&B and […]
Rebuild Business Confidence in Sri Lanka, a networking evening organized by CCC
The Power of Interaction Series is a networking evening organized by The Ceylon Chamber of Commerce with the intention of providing its membership an opportunity to interact with Senior Government Officials of a particular sector. The first session for this year, will be on the theme of ‘Rebuilding Business Confidence in Sri Lanka’. The keynote […]
Ritz-Carlton Residence and Hotel Tower reaches 30th floor
Jun 17, 2019 (LBO) – Keeping its promise to its client’s and stakeholders, developers of The Ritz-Carlton Hotel and Residence, Colombo, The One Transworks Square Ltd. announced that the 30th floor of the 80-floor tower is now completed as per the schedule. The ultra-luxury tower standing at 326 m will house the hotel brand ‘The […]
Salary anomalies of five hundred thousand pensioners to be removed from next month
Jun 17, 2019 (LBO) – The proposal made by Finance Minister Mangala Samaraweera in his budget 2019 to remove the pensioners’ salary anomalies will be implemented effective from next month. Accordingly, over 500,000 public servants who retired before December 31,.2015 will be benefited by the removal of this salary anomaly. The monthly salary of the […]