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Enterprise Sri Lanka to strengthen local entrepreneurs: President
Jun 25, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says as we introduce Credit Programmes for entrepreneurs, a joint programme implemented by all the relevant institutions is also needed in a similar manner, to offer a good market and reasonable price for their produce as well as measures to prevent importation of those products […]
SEC, CSE launch ‘Empower’ for SME’s
Jun 25, 2018 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) will launch “Empower” – the SME Board to attract Small and Medium Enterprises (SMEs) to the CSE, creating a platform to attract SMEs to the CSE. The official launch is scheduled to be held on […]
Buddha said to respect democracy, No dictatorial rule: PM
Jun 25, 2018 (LBO) – Prime Minister Ranil Wickremesinghe said the Buddha had never preached a dictatorial rule but instead his thought was to consult, confer and disperse peacefully and to respect ideologies expressed by all people. “The Government is running the country according to the teachings in Buddhism and if Buddhism faces any danger, government […]
Tokyo Cement (TKYO) reports a loss as Sri Lankan construction industry slows in Q1
June 24, 2018 (LBO) – The Central Bank of Sri Lanka recently released its first quarter GDP report. Growth was a tepid 3.2% for the quarter ended March 31, 2018. Digging deeper, one saw a rebound in agriculture with a growth of 4.4%, and services meandering along with the same 4.4% year over year growth […]
Colombo stocks in a slumber to finish the week
June 22, 2018 (LBO) – The Colombo Stock Exchange finished the week with not a bang, but a whimper. Stocks finished flat with both major indices (ASPI and S&P SL 20) closing almost unchanged. Turnover was very light at Rs277mn (US$1.7mn). The recent trend of foreign selling continued with today’s net foreign sales of Rs72mn […]
PropertyGuru Asia Property Awards (Sri Lanka) 2018 finalists announced
Jun 22, 2018 (LBO) – Sri Lanka’s best developers are now officially finalists for the second annual PropertyGuru Asia Property Awards (Sri Lanka) competition, which is being held for the very first time in Colombo on 12 July 2018. More than a dozen companies have been shortlisted for the industry’s highest honours to celebrate excellence […]
‘s promised act of parliament
June 22, 2018 (LBO) – Yesterday the magistrates court in Sri Lanka, hearing a case related to the country’s most prominent financial scandal, further remanded Arjun Aloysius and Kasun Palisena till July 5th. When July 5th arrives, the two would have spent over 5 months in remand without bail. The media cover the proceedings every […]
Nansen Vessel arrives in Colombo to conduct survey on marine resources
Currently, the most advanced research vessel in the world, the Dr Fridtjof Nansen arrived in Colombo to conduct surveys on fisheries resources and the marine ecosystem. The survey, starting in Colombo on 24 June 2018 will cover the continental shelf and upper slope of Sri Lanka until 16 July 2018. The last visit of a […]
“AMCHAM Gives Back” sponsors CPS boys development centre activities
The American Chamber of Commerce in Sri Lanka [AmCham] recently donated their proceeds from the AMCHAM Ball and other activities held in 2017, to the Child Protection Society Boys Development Centre.The donation was used to fund structural refurbishment, purchasing of new computers and towards the education of the children at the Centre. “AMCHAM Gives Back” […]
Uswatte opens state-of-the-art biscuit factory in Millaniya
Jun 22, 2018 (LBO)- Uswatte Confectionery Works, Sri Lanka’s oldest confectionery manufacturer opened their latest factory in their premises at Millaniya. The state-of-the-art factory will focus exclusively on the manufacturing of biscuits and signifies the entry of Uswatte into Sri Lanka’s biscuit market. The factory was be declared open by Prime Minister Ranil Wickremesinghe including […]
Anilana (ALHP) reports another loss as east coast tourism struggles
June 21, 2018 (LBO) – Colombo Stock Exchange listed Anilana released financial results for the quarter and the year ended March 31, 2018.The loss for the quarter was Rs104mn, and the year was Rs330mn.These results are similar to the prior year where the company lost Rs276mn. Anilana was one of a few companies that made […]
Cabinet approval for electricity pricing mechanism expected by Sept: IMF
June 22, 2018 (LBO) – Cabinet approval for an automatic tariff adjustment mechanism for electricity under the 2015 tariff methodology is expected by September, an International Monetary Fund (IMF) report said. The 2015 tariff methodology introduces price stability by fixing tariffs over a period of six months, protecting end-users from volatility in the exchange rate, […]