Ambitions are affordable for Asia & the Pacific: Executive Secretary of UN ESCAP

Op-ed by Armida Salsiah Alisjahbana Three years of implementation of the transformative 2030 Agenda for Sustainable Development in Asia and the Pacific shows the region has some catching up to do. Despite much progress, the region is not on track to reach the 17 Sustainable Development Goals set out in the United Nations 2030 Agenda […]

CEB Eng Union points fingers at PUCSL and Snr. Govt officials for power crisis

Apr 04, 2019 (LBO) – The power crisis in the country is mainly due to the timely non approval of the `Least Cost Long-Term Generation Expansion Plan’ (LCLTGEP) by the Public Utilities Commission (PUCSL) and interference of top officials in the power ministry. “We put 50 percent of the blame for causing this current crisis on the PUCSL,” Saumya […]

‘s growth prospects: ADB

Apr 03, 2019 (LBO) – Growth remains strong across most of developing Asia but is set to moderate this year and next year against the backdrop of slowing global demand and persistent trade tensions, according to a new Asian Development Bank (ADB) report. The latest Asian Development Outlook (ADO) 2019, ADB’s flagship economic publication, forecasts that […]

Australia increases support for demining efforts in Sri Lanka

Apr 03, 2019 (LBO) – Australia has increased its support for humanitarian demining efforts in Sri Lanka to mark the International Day for Mine Awareness and Assistance in Mine Action on Thursday. Australia will provide more than 124 million rupees in assistance over the next two years through a partnership with the Mine Action Group (MAG) […]

AIA receives shareholder approval for proposal to delist from CSE

Apr 03, 2019 (LBO) – Publicly listed company AIA Insurance Lanka announced that it will delist the Company’s shares from the official list of the Colombo Stock Exchange in compliance with applicable regulations and procedures.The proposal to delist was approved by the requisite shareholder majority at the Extraordinary General Meeting held on 27 March 2019. The […]

CEB to appear in Court regarding un-scheduled power cuts

Apr 03, 2019 (LBO) – The Colombo Fort Magistrate Tuesday noticed the Ceylon Electricity Board (CEB) to be present in courts on April 9 over its failure to provide the Public Utilities Commission of Sri Lanka (PUCSL) with the reports relating to power cuts. Earlier legal action was filed against the CEB for failing to give […]

Opinion: SL Planters Assosiation on allegations of labour abuse

The Planters’ Association of Ceylon (PA) wishes to draw the general public’s attention to serious factual misrepresentations and inaccuracies initially published by Thomson Reuters Foundation and authored by freelance journalist, Lisa Fuller in her article titled: ‘Tea Label Giants Vow Probe after Sri Lanka Labour Abuse Expose’ At the outset, the PA notes with disappointment […]

Fitch rates Commercial Bank of Ceylon Basel III sub debt AA-(lka)(EXP)

Apr 02, 2019 (LBO) – Fitch Ratings has assigned Commercial Bank of Ceylon’s proposed Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of AA-(lka)(EXP). The debentures will total up to 15 billion rupees, with maturities of five and 10 years, and carry fixed coupons. The debentures will qualify as Basel III-compliant regulatory Tier 2 […]

‘s Dialog Axiata at AAA(lka); outlook stable

Apr 02, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of Sri Lanka-based telecoms company Dialog Axiata at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS Mobile-Market Leader: Dialog’s standalone credit profile of ‘AAA(lka)’ is underpinned by its market leadership in the growing mobile and pay-TV market segments. We believe that Dialog […]

50 percent probability for a policy rate cut in April: First Capital Research

Apr 02, 2019 (LBO) – First Capital Research allocates a 50 percent probability for a policy rate cut in Apr 2019 as they are of the view that policy intervention is appropriate to address the overly sluggish economic growth.Sluggish sentiment in Sri Lanka’s economy has been a major concern with the latest GDP growth for […]

Emirates Skywards invites members to fly more and earn more

(PRESS RELEASE) – Emirates Skywards, the award-winning loyalty programme of Emirates and flydubai, is rolling out a new limited time offer for all new and existing Skywards members to boost their Miles. The offer is valid for Economy and Business class tickets booked on Emirates and flydubai between 20 March 2019 and 31 March 2019 […]

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