Category:
IFC to loan USD 15Mn to Senkadagala Finance
Mar 23, 2018 (LBO) – Sri Lanka’s Senkadagala Finance will get loan of up to US15 million dollars from the International Finance Corporation (IFC), a statement said.“The signed agreement with IFC for the loan would be in Sri Lankan rupees,” the Finace Company said in a stock exchange filing, Thursday.The loan would focus on lending to […]
United National Front rallies round PM with confidence motion
Mar 23, 2018 (LBO) – Members of Parliament (MP) representing the United National Front (UNF) signed a motion supportive of Prime Minister Ranil Wickremesinghe, yesterday. The signed letter was handed over to the Leader of the House Lakshman Kiriella, who is due to hand it in to Speaker Karu Jayasuriya. The Joint Opposition on earlier this […]
Lanka Property Web introduces agent verification
LankaPropertyWeb.com, Sri Lanka’s number one property website has introduced an Agent Verification programme for estate agents and brokers. The programme would carry out a rigorous check on participating estate agents and brokers against 20 criteria. If the agent successfully “passes” the test, they would be awarded a “Verified Agent” certificate and would be listed as […]
Opinion: Economic reforms in Sri Lanka: Salvation or a recipe for inaction?
By Kithmina Hewage & Harini Weerasekera Economic reforms have become an urgent need for Sri Lanka, with successive governments since independence, resorting to short-term, politically expedient economic strategies that have placed considerable macroeconomic pressures whilst reducing Sri Lanka’s global competitiveness. Vision 2025, the current government’s short and medium-term policy direction, is aimed atsteeringthe economy towards […]
Sri Lanka inflation down to 3.2-pct in Feb 2018
Mar 22, 2018 (LBO) – Sri Lanka’s National Consumer Price Index (NCPI) slowed to 3.2 percent in February 2018 from 5.4 percent in January, on a year-on-year basis, official data shows. The reported inflation for the month of February 2018 was mainly due to comparatively higher price levels prevailed in February2017 and decline in food prices […]
President Maithripala Sirisena to visit Pakistan tomorrow
At the invitation of the President of Pakistan Mamnoon Hussain, President Maithripala Sirisena will undertake a three day official visit to Pakistan from 22 to 24 March 2018, to attend the National Day of Pakistan.President Sirisena will hold discussions with his Pakistani counterpart President Hussain, Prime Minister Shahid Khaqan Abbasi, and following talks, will attend […]
Government to borrow up to USD300mn from banks in 1Q 2018
Mar 21, 2018 (LBO) – Cabinet approval has been granted on Tuesday to obtain up to a maximum of 300 million US Dollars from banks. Accordingly, Government will borrow up to 300 million US Dollars from Bank of Ceylon, People’s Bank and other registered foreign banks in Sri Lanka.“Since it is advantageous to Release Sri […]
The One, landmark mixed development to cost USD500Mn plus
Ultra luxury, state of the art hospitality, breathtaking surroundings, signature amenities, world class dining experiences, three towers comprising two luxury hotels [ a total of 473 KEYS ], a luxury retail mall, a commercial office complex which will be the last word in Corporate ambience and style, as well as 638 beautifully crafted apartments , […]
Dialog and Ideamart host Sri Lanka’s first ever NB-IoT Hackathon
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, in collaboration with Ideamart, hosted Sri Lanka’s first NB-IoT Hackathon (NB-IoT: Narrowband Internet of Things). The first to launch the technology in South Asia in October 2017, NB-IoT is a narrowband radio technology specially designed to enable seamless connectivity amongst devices using Low Power Wide Area (LPWA) […]
Multi Finance PLC enables sustainable transactions with “Each One Plant One” campaign
With a proud heritage of over 4 decades in business, Multi Finance PLC has been a source of strength to businesses, and entrepreneurs in the urban rural and SME markets, playing a pivotal role in contributing to the growth of the Sri Lankan economy. Governed by the Central Bank and listed in the Colombo […]
Orion City and Dialog partner to build High Density Data Centre
Mar 21, 2018 (LBO) – Sri Lanka’s Dialog Axiata Group announced a joint venture partnership with Orion City to build and manage the island’s first ever High-Density Data Centre at the Orion City IT Park in Colombo. The proposed centre will be established through Digital Realty (Pvt) Ltd, a company jointly held by Dialog Broadband Network […]
National Financial Inclusion Strategy of Sri Lanka by mid-2019
Mar 21, 2018 (LBO) – Sri Lanka’s Central Bank expects to implement the National Financial Inclusion Strategy of Sri Lanka by mid-2019, Dr. Indrajit Coomaraswamy said in Colombo, Tuesday. “For successful implementation of this process high level political commitment is required,” the Central Bank Governor said. “Most of all, active participation and commitment of all stakeholders who […]