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Opinion: How China is turning bad loans into strategic investments
China’s Debtbook Diplomacy: How China is Turning Bad Loans into Strategic Investments Belt and Road is not the Marshall Plan: it’s comprised of loans, not grants, and China expects a return for its money By Sam Parker and Gabrielle Chefitz Through its Belt and Road Initiative, China is extending hundreds of billions of dollars in […]
‘s Central Bank defends the currency
June 12, 2018 (LBO) – Sri Lankan Rupee weakness has caused the currency to trade close to the psychological Rs160/US$ level.In the month of May, the Central Bank of Sri Lanka depleted approximately US0mn in foreign reserves defending the currency.Persons aligned with the previous government such as former SEC Chairman Nalaka Godahewa, who has been […]
Fairfield Holdings acquires controlling interest of Alethea Group
Jun 12, 2018 (LBO) – Alethea Group, a private educational institution has divested controlling interest of its equity to Fairfield Holdings at end May 2018.The transaction was arranged and supervised by M Power Capital which was responsible for the overall transaction as well as sell-side advisory for Alethea, while PwC was the adviser on the […]
Chevron Lubricants Lanka (LLUB) in Decline as CEO Kishu Gomes Exits
June 12, 2018 (LBO) – On May 22, 2018 Kishu Gomes resigned as Managing Director/CEO and as a Director of Chevron Lubricants Lanka with ‘immediate effect’ as per stock exchange disclosure. He was immediately replaced by the company’s Chairman Rochna Kaul, who has served as General Manager Chevron Lubricants in Pakistan. The abrupt resignation came […]
Sri Lanka appoints two state ministers and five deputy ministers
Jun 12, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed two state ministers and five deputy ministers. The seven new ministers and deputy ministers were sown in at the Presidential Secretariat a short while ago. They will non cabinet ministers. The full list follows: State Ministers Ranjith Aluvihare – Tourism Development and Christian […]
Sri Lanka Eco summit to focus on the fast track to a turnaround
Jun 12, 2018 (LBO) – Sri Lanka Economic Summit 2018, organized by the Ceylon Chamber of Commerce to take place on 12th – 14th September at Cinnamon Grand Colombo will be themed “On the Fast Track to a Turnaround”.Sri Lanka’s economy is once again at a crucial juncture in need of a swift and well strategized […]
All set for Tuesday summit between USA and North Korea in Singapore
Jun 11, 2018 (LBO) – The United States State Department says all is set and President Donald Trump is “well prepared,” and their “position remains clear and unchanged” a day ahead of the historic summit with North Korea. “The President and the entire U.S. team are looking forward to tomorrow’s summit. We have had substantive […]
High Tech Swiss firm eyes Sri Lanka for investment
Jun 11, 2018 (LBO) – KUK Electronics AG, a high technology swiss electronic manufacturer are exploring the the possibility of setting up a manufacturing plant in Sri Lanka with the objective of exporting their products. KUK Electronic AG, which was established in 1990 in Appenzell, Switzerland, operates production facilities in China, Slovakia, France, The Netherlands […]
SLASSCOM to organise IT /BPM week in Galle
Jun 11, 2018 (LBO) – As part of SLASSCOM’s initiative to advocate the creation of regional cities and bring about inclusive growth to Sri Lanka, it is organising Galle IT/BPM Week on 22 June, 6th and 7th of July 2018 to build human capacity in the regional cities. Galle IT Week is the third of […]
Tribute: Sir Desmond De Silva QC (1939-2018)
June 10, 2018 (LBO) – The British press is full of tributes following the unexpected demise of Sir Desmond de Silva QC. Most major media publications in the UK explored and saluted his brilliant career and its legacy. The Sri Lankan media seem to have failed to recognise the significance of one of the Nation’s […]
S&T Interiors Sri Lanka to debut first overseas project at Marriott Maldives
Sri Lanka’s most exclusive turnkey contracting and interior fit-out company, S&T Interiors Sri Lanka is rapidly nearing completion on its milestone project for the Marriott Maldives Resort and Spa. The project marks S&T Interiors Sri Lanka’s first first-ever international project and follows on several high-end domestic projects – from the Mövenpick City Hotel in Colombo […]
Increased rice yield to support Sri Lanka’s agricultural rebound: OBG
June 08, 2018 (LBO) – Following a series of climate-impacted yields, Sri Lanka’s agricultural sector is forecast to rebound in 2018, with stronger rice production and the reintroduction of tariffs expected to reduce the country’s import bill and strengthen national earnings, Oxford Business Group said. Sri Lanka economic update – Oxford Business Group Rice production for […]