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MTD Walkers (KAPI) on the verge of collapse suffers another Rs1.5bn quarterly loss
February 15, 2019 (LBO) – Continuing its seemingly endless spiral into the inevitable abyss, CSE listed construction firm MTD Walkers (KAPI) reported a loss of approximately Rs1. 5bn for the quarter ended December 2018. Loss for the 9 months was well over Rs3bn after losses of over Rs2bn during the corresponding period in the prior […]
Sri Lanka growth at 3.5-pct in 2019 : Room to be better managed : World Bank
Feb 15, 2019 (LBO) – World Bank Vice President, South Asia Region, Hartwig Schafer says that he finds the island facing a challenging macroeconomic landscape and that the nations Gross Domestic Product could be managed in a more effective manner. “Although the people’s income levels are very high and you are about to reach upper […]
Sri Lanka Development Update: Navigating Sri Lanka’s demographic change
Feb 14, 2019 (LBO) – The latest edition of the World Bank’s Sri Lanka Development Update (SLDU) finds the island in a challenging macroeconomic landscape. The post-conflict high growth momentum has decelerated.A volatile global environment and structurally weak competitiveness continue to weaken growth and external sector performance. High interest costs mask limited fiscal improvement. The […]
‘s ink deal of USD145Mn for science and tech higher education
Feb 14, 2019 (LBO) – The Asian Development Bank (ADB) and four Sri Lankan universities signed project agreements totaling US 145 million dollars under the ADB funded Science and Technology Human Resources Development project to foster science and technology in Sri Lanka’s higher education. “To achieve higher incomes and better standards of living, the Sri Lankan […]
Sri Lanka Trade Min. launches digital platform for small, informal biz
Feb 14, 2019 (LBO) – Sri Lanka has began work on the first national digital data bank for its SMEs and entrepreneurs recently with the backing of a Singaporean firm. Under the new initiative the National Enterprise Development Agency (NEDA) will execute a nationwide centralised database of all SMEs and entrepreneurs thereby boosting the performance […]
‘s first social innovation lab
Feb 14, 2019 (LBO) – The Citra Social Innovation Lab, co-developed by the Ministry of Science, Technology and Research and the United Nations Development Programme, was officially launched by Prime Minister Ranil Wickremesinghe in Colombo, Wednesday. As Sri Lanka’s first Public Sector Innovation Lab, Citra works to strengthen institutions, build capacities of the public sector, and […]
World Bank Vice President arrives in Sri Lanka to support country’s reform plans
Feb 13, 2019 (LBO) – The World Bank Vice President for the South Asia Region, Hartwig Schafer arrived today on his first visit to Sri Lanka to gain a better understanding of the country’s development priorities and how the Bank can continue to support its critical reform agenda. “Sri Lanka has made good progress in reducing […]
Sri Lanka to host World Surf League qualifying series 6000 in Arugam Bay
Feb 13, 2019 (LBO) – With the growing success as a surfing destination, Sri Lanka has received the opportunity to host the World’s most accomplished surfers in a World Qualifying Series competition this June in Arugam Bay. This exciting opportunity is a perfect showcase for the growing world of surfing in Sri Lanka and would […]
DFCC becomes first Sri Lankan bank to be certified for Visa’s QR Payment Solution
DFCC Bank created history by becoming the first bank in Sri Lanka to be certified for Visa’s QR Payment Solution. A ceremony was held recently at the DFCC Bank to mark this achievement in the presence of senior management of DFCC Bank and Visa. The service brings the advantages of security, reliability, and global acceptance […]
Frontier Capital Partners to launch AI ChatBot to cater Tuk Tuk industry
Sri Lanka’s post war era emerging investment banker Frontier Capital Partners – that transferred some of the country’s prominent group companies to conglomeration in the post war era from 2009 to 2019, in a decade has recently released a newly developed advanced Artificial Intelligence (AI) ChatBot assistant titled ‘TukBoy’. According to the company officials the […]
Sri Lanka unemployment at 4.1-pct in Q3 2018
Feb 13, 2019 (LBO) – The number of unemployed persons is estimated as 346,998 during the third quarter 2018 or 4.1 percent, the Department of Census and Statistics (DCS) said. The overall unemployment rate reported for female is 6.6 percent and it is 2.8 percent for male. Youth unemployment rate (age 15 – 24 years) […]
‘s Access Engineering records Rs.1.6Bn PAT for nine months
Feb 13, 2019 (LBO) – Access Engineering PLC, releasing its interim financial statements for the nine months December, 31 2018 said the company has recorded an impressive after tax profit of 1.66 billion rupees at Group level with a YoY increase of 43 percent. For the quarter ended December 31, 2018 the Group recorded a […]