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Former President Mahinda Rajapaksa sworn in as Prime Minister of Sri Lanka
Oct 26, 2018 (LBO) – Former President Mahinda Rajapaksa on Friday took oaths as the new Prime Minister of Sri Lanka before President Maithripala Sirisena at the Presidential Secretariat. Parliamentarian Dayasiri Jayasekara said the decision to leave the government was taken at a special UPFA meeting held in the afternoon. President and the new Prime Minister […]
Parliament passes resolution to raise Rs.310Bn under Active Liability Mgmt
Oct 26, 2018 (LBO) – Sri Lanka’s Parliament on Friday passed a resolution to raise up to 310 billion rupees by way of loans, in or outside Sri Lanka under the Active Liability Management Act. The Active Liability Management Act provides the legal framework for the government to raise loans for management of public debt […]
Virtusa Sri Lanka’s Madu Ratnayake appointed an Independent Director of HNB
Oct 26, 2018 (LBO) – Group CIO and the Center Head for Virtusa Sri Lanka Madura Duminda Ratnayake has been appointed as an Independent Non-Executive Director of Hatton National Bank.He is responsible for Virtusa’s global digital strategy and Virtusa’s Sri Lankan Operations.He is also responsible for enterprise digital business strategy and the core service delivery […]
John Keells Holdings (JKH) moving higher, up over 10% from multiyear lows
October 26, 2018 (LBO) – Shares in Colombo Stock Exchange (CSE) bellwether John Keells Holdings (JKH) have been in rally mode since touching multiyear lows of Rs126/share a few weeks ago. The stock closed the day up 3.4% to Rs140/share on volume of approximately Rs150mn. Shares in JKH were active yesterday as well with close […]
EU Ambassador appreciates progress being made to resolve investor issues
Oct 26, 2018 (LBO) – EU Ambassador Tung-Lai Margue participating in the 7th Edition of EU Dialogue that was held last week, has appreciated the encouraging progress being made by Sri Lanka to resolve investor issues. This meeting was held with several issues relating to EU companies in Sri Lanka being taken up for resolution. The […]
‘s health system enhancement project
Oct 26, 2018 (LBO) – Government has mobilized Grant and Concessional Loan assistance amounting to 50 million US dollars from the Asian Development Bank.This will be used to improve the efficiency, equity and responsiveness of the Primary Health Care system in line with the National Strategic Framework for Development of Health Services (2016 – 2025).The […]
Colombo District Land Price Index shows 16-pct increase despite rebasing
Oct 26, 2018 (LBO) – Land prices in the Colombo District during the first half of this year has recorded an increase of 16.3 percent compared to the first half of last year, despite the Central Bank rebased its index.Central Bank said they revised the base period of the index from 1998 to the first […]
Sri Lankan media ownership laid bare with new transparency tool
October 26, 2018 (LBO) – Reporters without Borders and Sri Lanka’s Verite Research have launched a web portal that aims to inform the public about media ownership, and possible inherent biases that may be present in media organisations. The web portal has already launched for several countries throughout the world, with several more in the […]
Sri Lanka reiterates that Colombo East Terminal will not be given to any country
Oct 25, 2018 (LBO) – East terminal of Sri Lanka’s busiest Colombo port will not be given to any other country as it is being developed by the Sri Lanka Ports Authority, Port Minister Mahinda Samarasinghe reiterated today. In the master plan of Colombo port expansion project, the East Container Terminal (ECT) has a 1200m […]
Colombo Stock Exchange withdraws trading suspension on Adam Investments
Oct 25, 2018 (LBO) – Colombo Stock Exchange says the proposed trading suspension of the securities of Adam Investments will not be effective from 29 October 2018.The exchange further said the company has resolved the matters giving rise to the qualified opinion in the independent auditors report on the financial statements for the year ended […]
Finance Ministry launches dedicated hotline for Enterprise Sri Lanka
Oct 25, 2018 (LBO) – Sri Lanka’s Finance Ministry has introduced a call center and a hotline number 1925 to assist and resolve issues faced by entrepreneurs under the Enterprise Sri Lanka credit scheme. Accordingly, any entrepreneur can dial the special information hotline to submit their inquiries, complaints, and feedback. Under this scheme, over 58,817 […]
Blue Ocean Group lays foundation stone for yet another luxury condominium
Blue Ocean Group is pleased to announce yet another iconic luxury condominium project at No.35, Ramakrishna Road, Wellawatte, and the foundation stone laying ceremony took place at the site on the 11th of October 2018, headed by Sivarajah Thumilan, Blue Ocean Group Chairman in the presence of a large number of guests. The special event […]