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Sri Lankan Tourism; All That Glitters Is Not Gold
Tourism in Sri Lanka was said to have reached an all-time high last year with a staggering 2.2 million tourists visiting the country. While news articles widely publicized this never before seen rate, little did anyone pay attention to return in investment and surge in local sales brought by these tourists. Most of the tourists […]
Commercial Bank enables online payment of Ports Authority charges
Feb 06, 2019 (LBO) – Commercial Bank of Ceylon has added the Sri Lanka Ports Authority to its online banking platform, enabling customers to pay their Ports Authority charges in respect to their shipping requirements from anywhere, anytime. To use this online payment option, customers have to key in their 14 digit invoice number issued […]
DFCC Bank launches value added corporate credit card in partnership with Visa
DFCC Bank in partnership with Visa recently hosted its corporate clientele at the launch of its DFCC Visa corporate credit card on 23rd January 2019 at the Hilton Colombo. The exciting launch was celebrated in the presence of almost 200 attendees, consisting of the Group Country Manager and several Senior Representatives of Visa, senior management […]
Kishu Gomes appointed Chairman of Sri Lanka Tourism Development Authority
Kishu Gomes will be officially appointed as the Chairman of Sri Lanka Tourism Development Authority and Sri Lanka Tourism Promotion Bureau today, Tourism Development Ministry said. Accordingly, Minister John Amaratunga is to present the letter of appointment to him this afternoon.
Opinion: Sri Lanka’s Quest for a Rules-based Indian Ocean
February 6, 2019 (LBO) – Sri Lanka’s Quest for A Rules-based Indian Ocean Dr. Ganeshan Wignaraja and Dr. Dinusha Panditaratne* The evolution of Sri Lanka’s foreign policy since the election of a unity government on 8 January 2015 merits interest. Changes include the country’s engagement with a wider range of international partners, as well as […]
Sri Lanka Customs chief P.S.M. Charles reinstated
Feb 06, 2019 (LBO) – P.S.M. Charles has been reinstated as the Director General of Customs following the its trade union alliance launching a work-to-rule campaign since January 30 on her removal from office. Finance Minister Mangala Samaraweera is said to have withdrawn the proposal to appoint retired navy officer Rear Admiral Shemal Fernando as the […]
Appropriation Bill for 2019 presented in parliament
Feb 05, 2019 (LBO) – The Appropriation Bill for the year 2019 was presented in parliament by Minister Gayantha Karunathilaka, Tuesday. The Cabinet in early January approved the Appropriation Bill for 2019 with an annual expenditure of Rs 4,470 billion with the Ministry of Defence secured the highest allocation of 393 billion rupees. The Ministry of Education […]
Sri Lanka, Maldives agree to review existing visa regime between two countries
JOINT COMMUNIQUÉ BETWEEN THE DEMOCRATIC SOCIALIST REPUBLIC OF SRI LANKA AND THE REPUBLIC OF MALDIVES 05 February 2019 1. On an invitation by His Excellency Maithripala Sirisena, President of the Democratic Socialist Republic of Sri Lanka, His Excellency Ibrahim Mohamed Solih, President of the Republic of Maldives undertook a State Visit together with First Lady Fazna […]
CINV and GUAR considering options to wind up The Sri Lanka Fund
Feb 05, 2019 (LBO) – Ceylon Guardian Investment Trust PLC (GUAR) and Ceylon Investment PLC (CINV) has decided to consider options of winding up The Sri Lanka Fund, an open-ended fund incorporated in the Cayman Islands, denominated in US dollars. The fund was relaunched in August 2010 under the management of Guardian Fund Management Limited (GFM) […]
‘s shareholding in JKH approaching 10%, stake valued at close to Rs20bn
February 5, 2019 (LBO) – Sri Lanka’s richest man, Harry Jayawardena, has increased his shareholding in Colombo Stock Exchange bellwether John Keells Holdings (JKH) to near 10%. The total value of his shareholding is now worth close to Rs20bn.As of December 31, 2018, Jayawardena’s Melstacorp PLC owned 8.4% of JKH. After the quarter ended, the […]
LankaClear says their payment network has not been compromised
Feb 05, 2019 (LBO) – Operator of Sri Lanka’s national payment network, LankaClear assures the general public that their payment network, LankaPay has not been compromised as it is fully secured adhering to international PCI-DSS security standard. The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard for organizations that handle […]
From Toronto to Toddy, a Jaffna Entrepreneur’s Journey
By Jekhan Aruliah When it comes to investment in the North there is far more talk than there is action. A rare example of action is Suganthan Shanmuganathan. Having fled the Sri Lankan Civil War 25 years ago as a teenage schoolboy, Suganthan came back to Jaffna from Canada in 2014 with his wife and […]