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Mahinda to seek mandate for constitutional reforms at next national election
Jan 23, 2019 (LBO) – Sri Lanka’s Leader of the Opposition, Mahinda Rajapaksa says that they will be putting forward their own proposals at the next national election to seek a direct mandate from the people for constitutional reforms. Releasing a statement, the ex-president says that opposing the draft constitution put forward by the present […]
Capitol TwinPeaks construction continues ahead of schedule: Sanken
Jan 23, 2019 (LBO) – Capitol TwinPeaks, the flagship venture of the Sanken Group, located on the Beira lakefront in Colombo 2, forges forward ahead of schedule with 35 floors completed to ensure timely delivery of their investment for maximum profitability, the Sanken Group said.The twin 50-storey skyscrapers feature green spaces, common areas and residential spaces, overlooking […]
SriLankan Airlines posts Rs40bn net loss for 9 months amid rising fuel prices
Jan 23, 2019 (LBO) – SriLankan Airlines said the net loss for the nine months ended 31 December 2018 was 40 billion rupees (USD135mn) against the loss for the corresponding period of previous year stood at 11 billion rupees (USD66mn). During this period, SriLankan’s net traffic revenue from core airline operations has increased to 120 […]
Chinese cement manufacturer to enter Sri Lankan market
Jan 23, 2019 (LBO) – A Chinese cement manufacturer is seeking to set up a new cement plant in the Hambantota Export Processing Zone in Sri Lanka. According to the Deputy Minister of Development Strategies and International Trade, Nalin Bandara, this is the first time a Chinese cement company is entering the local market directly. […]
Sri Lanka makes aggressive pitch for India’s MICE tourists
India’s leading trade show on business, MICE and luxury travel, the Business & Luxury Travel Mart was held at The Leela Ambience Convention Hotel in New Delhi last week. Minister of Tourism Development, Wildlife and Christian Religious Affairs John Amaratunga was the chief guest at the inauguration of the show. Speaking at the inauguration Minister […]
Parliamentary committee hands over report about recent unruly incidents
Jan 22, 2019 (LBO) – Speaker Karu Jayasuriya today received the report of the Special Parliamentary Committee that investigated into the unruly incidents in the Chamber on November 14, 15 and 16. The Committee, chaired by the Deputy Speaker says that the report has identified the Parliamentarians who were directly involved in the unruly incidents. […]
BOI signs deal for mixed development apartment complex in Colombo 3
Jan 22, 2019 (LBO) – Sri Lanka’s Board of Investment has signed an agreement with HNJ Towers private limited to build a mixed development project located at R A De Mel Mawatha, Colombo 3.Board of Investment said in a statement that when completed HNJ Towers will provide employment for 14 staff members. The total value […]
‘s Minister of State for Commonwealth and UN
Finance and Media Minister Mangala Samaraweera called on the United Kingdom’s Minister of State for the Commonwealth and United Nations, Lord Tariq Ahmad of Wimbledon, at his office in Westminster, London, yesterday (21), to discuss progress made in the areas of human rights and reconciliation and other matters of mutual interest. Lord Ahmad is also […]
Sri Lanka inflation decreased to 0.4-pct in December 2018
Jan 21, 2019 (LBO) – Headline inflation measured by the National Consumer Price Index has decreased to 0.4 percent in December 2018 from 1.0 percent in November 2018, the Central Bank data showed. The Central Bank said the decrease observed in year-on-year inflation in December is driven by the decrease of prices of items in […]
Fitch-rated frontier markets saw 13 positive, 6 negative rating actions in 2018
Jan 21, 2019 (LBO) – Fitch-rated frontier markets saw more positive than negative sovereign rating actions in 2018 with 13 positive rating actions compared to six negative actions, Fitch Ratings said. Out of the 30 Fitch-rated frontier markets, the majority were outlook changes and the mix of upgrades and downgrades was balanced at four each. However, […]
Facebook focuses on Digital Literacy to improve online safety in Sri Lanka
Facebook’s efforts to tackle misinformation, promote online safety in Sri Lanka and boost digital literacy skills were among several topics debated at a fireside chat on Saturday, held as a part of the Fairway Galle Literary Festival 2019. Speaking to an audience of authors, professionals, academics and journalists, Shelley Thakral – Facebook’s Head of Policy […]
Toll free hotline ‘1984’ launched to obtain tip-offs about drug smugglers
Jan 21, 2019 (LBO) – Sri Lanka’s President Maithripala Sirisena has inaugurated a hotline for the public to inform authorities about the acts of drug smuggling and related crimes. Toll-free telephone number ‘1984’ which was earlier used by the National Dangerous Drugs Control Board as the hotline for counseling and operational activities will be used […]