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CSE listed East West Properties (EAST) reports a crippling loss, equity almost wiped out
March 12, 2019 (LBO) – Colombo Stock Exchange listed East West Properties (EAST) has reported a crippling loss which has almost wiped out the entire equity of the firm. The group, which is the controlling shareholder of the Marriot hotel in Weligama, is suffering under a crippling debt load of over close to Rs6bn. It […]
SL foresee digitalization and 5G as ‘Energy Pill’ for Economic Growth: Min Harin
Mar 12, 2019 (LBO) – Sri Lanka’s Minister of Telecommunication, Foreign Employment and Sports, Harin Fernando pointed out government’s aim is to make Sri Lanka a benchmark in adopting Digital Technologies for Government administration and public affairs management, whilst the necessary technical infrastructure to facilitate this effort, especially in rural areas will be provided. He […]
SL fiscal consolidation plans challenging without policy effectiveness and faster growth
Mar 12, 2019 (LBO) – Achieving Sri Lanka’s deficit and debt targets will be challenging without a significant increase in fiscal policy effectiveness and faster Gross Domestic Product (GDP) growth, a rating agency said in a statement. ‘Sri Lanka’s ambitious fiscal consolidation targets – when the country has not had a fiscal deficit below 5.0 […]
JICA signs LKR 48Bn concessionary loan to establish Malabe-Fort LRT
Mar 11, 2019 (LBO) – A concessionary loan agreement for JPY 30,040 million (approx. 48 billion rupees) was signed between the Government of Sri Lanka and Japan International Cooperation Agency (JICA) for engineering services and construction of a Light Rail Transit (LRT) line between Malabe and Colombo Fort, recently. The loan will finance […]
Interview : Present and future trends in real-estate and condo market in Sri Lanka
Mar 11, 2019 (LBO) – The Blue Ocean Group of Companies has grown into a versatile conglomerate over the past few years. The group of companies engage in real estate, construction, engineering, trading, education, travels and holidays, entertainment, consultation and many other fields. LBOTv had a chat with Chairman of Sri Lanka’s Blue Ocean S.Thumilan…..
‘s Oligarchs
March 10, 2019 (LBO) – The stage was set during one of the many post budget forums which set out to digest, analyse and critique the economic ramifications and opportunities from the latest budget. The forum included some of the most important personalities in Sri Lankan business who took to the stage to publicly voice […]
‘s new Media Minister Ruwan Wijewardene visits Lake House
March 9, 2019 (LBO) – Ruwan Wijewardene has visited Lake House for the first time since being appointed Sri Lanka’s Media Minister. The visit, seemingly routine for a minister visiting a state institution under his or her purview, is of important historical significance in the history of Media in Sri Lanka. Lake House, one of […]
Sri Lanka official reserves at USD 6.0 billion by end February
Mar 08, 2019 (LBO) – Sri Lanka’s gross official reserves were 6,005.5 million US dollars by the end of February, down from 6,152.2 million US dollars in January this year, latest Central Bank data showed. By the end of February, foreign currency reserves were 5,091.5 million dollars while the reserve position in the IMF was 66.9 […]
Pakistan High Commissioner briefed Speaker on security situation in region
High Commissioner of Pakistan, Major General (R) Dr.Shahid Ahmad Hashmat paid a courtesy call on Speaker, Karu Jayasuriya on March 7, 2019. The High Commissioner apprised the Speaker on the prevailing situation in the region. He underscored Pakistan’s commitment to peace and stability in the region. Highlighting the repeated overtures by the Prime Minister of […]
Breakthrough Business Intelligence identify points about evolving Sri Lankan consumer
Mar 08, 2019 (LBO) – As Sri Lanka steps-up to middle income status, Sri Lankans are stepping up to new opportunities and challenges. Based on their experience in working with brands and interacting with consumers on a regular basis, Dilini Jayasuriya – Executive Director of Breakthrough Business Intelligence (Pvt) Ltd. and Abhishek Hariharan – Associate Vice […]
Boardrooms should be at least 1/3 women – MP Balasuriya to table legislation on Tuesday
March 8, 2019 (LBO) – In a move that is likely to have a wide impact across corporate boardrooms throughout Sri Lanka, Joint Opposition Member of Parliament Hon. Tharaka Balasuriya is scheduled on Tuesday to present legislation in Parliament that aims to bring significantly more women onto Sri Lankan corporate boards. The move, if successful, […]
Sri Lankan Marini de Livera honored with Intl. Women of Courage Awards 2019
Ten extra ordinary women from around the world were honored with International Women of Courage Awards ( IWOC ) 2019 at the US State Department on 07th March 2019.Sri Lankan Marini de Livera was among the awardees from Bangladesh, Burma, Djibouti, Egypt, Jordan, Montenegro, Peru, Tanzania and Ireland who were felicitated by the State Department. […]