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Indian automobile manufacturers meet CMTA; 70% of new vehicles from India
A twenty-member delegation from the Society of Indian Automobile Manufacturers’ (SIAM) held a very fruitful and cordial meeting with The Ceylon Motor Traders’ Association (CMTA) last week. SIAM is the apex Industry body representing leading vehicle and vehicular engine manufacturers in India while the CMTA represents the manufacturers of the global brands of automobiles and […]
Sri Lanka to integrate SMEs into formal sector to facilitate their growth : Fin Min
Oct 09, 2018 (LBO) – Sri Lanka’s Minister of Finance said the government aims to integrate small and medium scale enterprises into an official sector and establish hard and soft infrastructure frameworks to facilitate their growth. “Every country in the world has identified the importance of SMEs in their economies as a practical instrument in achieving […]
Palm Oil industry rejects vilification of crop as “baseless and unscientific”
Oct 08, 2018 (LBO) – The vilification of oil palm in Sri Lanka on the grounds of the crop’s purported adverse impact on the environment is completely unjustifiable, given that the extent of land under oil palm is just 1.1 per cent of the extent under traditional crops – tea, rubber and coconut, an industry body […]
‘s exports to South Asia Region: WB
Oct 08, 2018 (LBO) – If trade barriers are overcome, trade within South Asia can increase three-fold, from 23 billion US dollars to 67 billion US dollars, suggests a World Bank report. “Sri Lanka has the potential to more than double its exports to South Asia,” the new ‘A Glass Half Full: The Promise of […]
SriLankan Airlines receives four star rating for second consecutive year
Oct 08, 2018 (LBO) – SriLankan Airlines was honoured with a Four Star Rating in the Major Regional Airline category by the Airline Passenger Experience Association (APEX) for the second year running.APEX (www.apex.aero) is the world’s only non-profit membership trade association dedicated to improving the entire airline passenger experience. The ratings are based on the […]
Subsidiary of Ambeon Holdings, Dankotuwa Porcelain re-introduces Laklain locally
Dankotuwa Porcelain PLC, renowned for its luxurious and elegant porcelain tableware, recently re-introduced its value-for-money heritage brand Laklain to the local market. Now available with several new offerings that feature a similar high-quality standard to the more upmarket Dankotuwa Porcelain brand, Laklain is marketed at a more affordable price point with easy customer accessibility. Laklain […]
Former AG and Constitutional Council member Shibly Aziz no more
October 8, 2018 (LBO) – President’s Counsel Shibly Aziz has passed away. Sections of his biography from Wikipedia reproduced below: Mohamed Shibly Aziz is a well-known and eminent President’s Counsel in Sri Lanka who has contributed extensively to the development of the legal system in the country from on or about 1968. He is the […]
‘s stock/bond markets approach $ 500mn for 2018
October 8, 2018 (LBO) – Net foreign selling of Sri Lanka’s stocks and bonds is nearing US$500 million dollars for 2018. The outflows have been a significant factor in the devaluation of Sri Lanka’s currency and declining foreign reserves. Year to date in 2018, net foreign selling of Sri Lanka’s stocks and government securities stands […]
Deregulation of real estate market to boost foreign investment :JLL
Oct 08, 2018 (LBO) – Real estate consultancy JLL Lanka commended the passing of recent legislation pertaining to foreign ownership of land in Sri Lanka, noting that the move will provide a much-needed boost to investor confidence.JLL refers to the amendment to Section 3 of the Land (Restriction on Alienation) Act No 38 of 2014, […]
ICJ orders US to ease Iran sanctions; India to continue purchasing crude oil from Iran
Oct 07, 2018 (LBO) – India will buy a total of 9 million barrels of oil from Iran in November, foreign media reported yesterday, citing an industry source, despite US sanctions on Tehran to return early next month. In May, Trump pulled the US out of the Iran nuclear deal despite objection from the other […]
NDB seeks new investors to plug rights issue deficit, shareholder approval yet to be sought
October 6, 2018 (LBO) – Colombo Stock Exchange listed National Development Bank (NDB) has obtained board approval to sell shares unsubscribed for in their rights issue to new investors at the rights issue price of Rs105/share. Undersubscription of the rights issue is expected as the share price was trading slightly below the price of the […]
‘s Minister for Asia Pacific in Sri Lanka
October 6, 2018 (LBO) – Mark Field, Minister of State for Asia and the Pacific, arrived in Sri Lanka yesterday for a visit that will include meetings with government and opposition figures, civil society and trade organisations.The Minister will hold discussions with government representatives including President Maithripala Sirisena and Minister of Foreign Affairs Tilak Marapana. […]