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Celogen Lanka opens USD6.6Mn pharmaceutical plant in Pallekelle
June 28, 2017 (LBO) – Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle. The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said […]
‘s SAGT goes live with Navis terminal system
June 28, 2017 (LBO) – Navis, a part of Cargotec Corporation, a provider of operational technologies and services across the shipping supply chain, said South Asia Gateway Terminal (SAGT) in the Port of Colombo has successfully gone live with Navis’ N4 terminal system and N4 Billing. “SAGT selected the Navis terminal system to better optimize […]
Ceylinco Life Fund crosses Rs80 bln mark
(PRESS RELEASE) The Life Fund of Ceylinco Life crossed Rs 80 billion in May 2017, making it the fastest-growing Life Fund in the local industry, the life insurance market leader has announced. The company said this milestone was achieved in a little more than 29 years of operation, a feat as yet unmatched in Sri […]
Anilana Hotels to sell 51-pct stake to Somap International
June 28, 2017 (LBO) – Sri Lanka’s Anilana Hotels said an international firm Somap International (Private) Limited plans to invest in up to 51 percent of the company by way of an issue of new shares, with a total investment of 667 million rupees. Accordingly, 513 million new shares will be issued at a price […]
Japanese ambassadors in five SAARC countries meet Foreign Minister Ravi
June 28, 2017 (LBO) – Japanese ambassadors in five SAARC countries India, Nepal, Maldives, Pakistan and Bangladesh met Foreign Minister Ravi Karunanayake Tuesday at the Ministry. “The ambassadors hailed the ongoing development activities in Sri Lanka and pointed out the growth in the country is a matter of pride for other nations in the region,” […]
CA Sri Lanka confers CPFA qualification to senior public servants
Over 130 senior public servants were recently conferred with the Chartered Public Finance Accountancy (CPFA) qualification at the inaugural CPFA Convocation organised by the CA Sri Lanka Public Sector Wing, the Association of Public Finance Accountants of Sri Lanka (APFASL), in an effort to strengthen the country’s public financial management. The qualification was granted to […]
PTL Watch: Bond yields edge higher, more OMO
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/06/PTL-Daily-Market-Report-27th-June-2017-1.pdf” title=”PTL Daily Market Report 27th June 2017 (1)”]
Hirdaramani Garments & Isebella Socks starts production line in Ethiopia
The grand production inauguration ceremony of the Hawassa Industrial Park in Ethiopia that has attracted 18 leading global apparel and textile companies was held on 20th June 2017 at the Industrial Park with the participation of the Ethiopian Prime Minister Hailemariam Desalegn, senior Ministers of the government, Ambassadors, senior government officials and the company owners […]
Malinga to face inquiry for breach of contract terms, emergency ExCo called
Sri Lanka Cricket today announced that it had called an Emergency meeting of its Executive Committee at 7 pm at SLC Headquarters in order to table & regularize the following agenda items. * Resignation of Mr. Graham Ford * Interim appointment of National Team Head Coach * Disciplinary inquiry against Mr. Lasith Malinga * Under […]
Opinion: Despite Trump-Modi bonhomie, Indo-US economic relations in doldrums
By P.K.Balachandran Despite words signifying undying friendship and bear hugs, which marked President Donald Trump’s interaction with Indian Prime Minister Narendra Modi in Washington on Monday, economic relations between the United States and India seem destined to remain in the doldrums indefinitely. While there was a strong understanding on cooperation to tackle terrorism and on […]
Laugfs enters residential apartment development
June 27, 2017 (LBO) – Sri Lanka’s Laugfs Property Developers, a subsidiary of Laugfs Gas PLC, has formed a fully owned subsidiary to undertake residential apartment complex projects. The new entity, Laugfs on Reid (Private) Limited, incorporated under the Companies Act last week, is located at their head office premises. Laugfs Property Developers (Private) Limited […]
GMOA says “NO”‘s statement on SAITM
June 27, 2017 (LBO) – Sri Lanka’s Government Medical Officers Association (GMOA) said Monday that they were not accepting President Maithripala Sirisena’s statement on SAITM and will continue their strike action. After discussions with the GMOA the president’s office issued a statement that the South Asian Institute of Technology and Medicine (SAITM) was instructed to […]