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Sri Lanka, India sign MOU to cooperate on economic projects
Apr 27, 2017 (LBO) – Sri Lanka and India signed an MoU on economic co-operation in the presence of Prime Minister Narendra Modi and Sri Lankan counterpart Ranil Wickremesinghe in New Delhi Wednesday. As per Indian media reports, the MoU proposes Indian investment in development of port and oil tank farms in Trincomalee, setting up […]
Mobitel launches first ever Digital Recharge System in Sri Lanka
Sri Lanka’s National Mobile Service Provider, Mobitel sustains its lead at the forefront of the mobile commerce revolution in the country by pioneering the Digital Recharge System for the first time ever in the country. Delivering on its commitment to simplify service offerings to its customers and retail partners, Mobitel is proud to introduce this […]
Sri Lanka govt wants Sarath Fonseka as defense chief
Apr 26, 2017 (LBO) – Sri Lanka’s national government has offered ex-Army chief Sarath Fonseka the task of upholding discipline in the country by taking a key role in law and order under him. At Tuesday’s cabinet meeting it was proposed to appoint him either as Army Commander or as Chief of Defense Staff, Cabinet […]
Sri Lanka to double Development Bond limit to raise liquidity
Apr 26, 2017 (LBO) – Sri Lanka’s Finance Ministry is to increase the limit of issuing Sri Lanka Development Bonds (SLDBs) from 1,500 million US dollars to 3,000 million dollars including development bonds due to expire this year. Cabinet approval has also been granted to this proposal considering the low liquidity situation and interest rates […]
Time period of Presidential Commission on CB bond issue extended
Apr 25, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena has extended the time period of the Presidential Commission of inquiry to investigate and inquire into the issuance of treasury bonds. A spokesman at the Commission told LBO that the President has extended the time period by three months. So far statements were recorded from […]
”’ Loan program
People’s Bank has proactively joined the Swashakthi Loan scheme initiated by the Ministry of National Policies and Economic Affairs and the Central Bank of Sri Lanka, disbursing loans via its extensive branch network of more than 730 branches island-wide. The inaugural program for awarding Swashakthi loans was recently held at People’s Bank Nuwara Eliya branch […]
Lanka Bell, IBM to accelerate cloud adoption in Sri Lanka
Apr 25, 2017 (LBO) – IBM will collaborate with Lanka Bell to provide enterprises, start-ups, developers and government bodies cloud services via the IBM Cloud, the company said. As a part of the agreement, the two companies will jointly market and sell new offerings for public, private and hybrid cloud deployments, including workload migrations, disaster […]
Sri Lanka seeks to carve out niche in medical tourism: OBG
Apr 25, 2017 (LBO) – Rising numbers of tourists from abroad and a state-led campaign to expand medical tourism could attract further investment to Sri Lanka’s health care sector, creating additional opportunities for its hospitality industry in the process, the Oxford Business Group said in a research note. The country’s bid to become a centre […]
Petroleum union negotiations successful, strike called off
Apr 25, 2017 (LBO) – The Ceylon Petroleum Corporation (CPC) unions called off their strike late on Monday following successful discussions with Sri Lanka’s Prime Minister and Petroleum Minister Chandima Weerakkody. Employees of the Ceylon Petroleum Cooperation launched a strike from midnight Sunday opposing an agreement to be signed with India regarding developing the Trincomalee […]
Hilton group officials meet Finance Minister in Washington
Apr 24, 2017 (LBO) – Following the landmark deal by Hilton to manage six more hotels in Sri Lanka, senior management of Hilton recently met visiting Finance Minister Ravi Karunanayake in Washington D.C. on the sidelines of the World Bank and IMF meetings. Senior Vice President of Hilton Jonas Neihardt met with Karunanayake, facilitated by […]
Australia reveals details of temporary skilled migration reforms
Apr 24, 2017 (LBO) – The Australian Government recently announced changes to their employer-sponsored temporary skilled work visa arrangements with the most significant change in the current visa for temporary skilled workers. The current visa for temporary skilled workers (the 457 visa) will be replaced by a new Temporary Skill Shortage (TSS) visa in March […]
Mastercard hosts knowledge sharing session on risk management
Mastercard recently hosted 50 senior electronic payments industry representatives at its Risk Management workshop in Colombo. The event is part of an ongoing series of knowledge-sharing sessions organized by Mastercard to share global learnings and gain local insights from market partners. The day-long workshop saw Rajeev Kumar, Customer Fraud Management, South Asia, Mastercard and Christopher […]