”’ LNG to Sri Lanka

June 01, 2017 (LBO) – India’s Petronet LNG has proposed to supply ‘green’ LNG to Sri Lanka and is awaiting an evaluation of their proposal, Deputy Manager of Petronet LNG Manik Jhamb said during a visit to Colombo. “Investing in it is a win-win for Lankan government, consumers and for us since it is Green […]

Opinion : Building the future, infrastructure in ASEAN and South Asia

By Anna Marrs ASEAN and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact. Roads, railroads, bridges, ports and metros. All this construction is transforming the city centres and areas of economic activity, and the lives of 2.4 billion people. It […]

Sri Lanka Navy to complete pedestrian walkway near Supreme Court

June 01, 2017 (LBO) – The Urban Development Authority has proposed that Sri Lanka Navy should complete stage III of the pedestrian walkway along the St. Sebastian canal area from the Technical Junction towards the Supreme Courts Complex. The width of the proposed walkway is 06 meters (20 feet) and the length is 1,485 meters […]

LOLC records historic profit before tax of Rs24bn

Sustaining its unblemished track record, LOLC Group concluded an excellent year sealed by its strongest financial performance to date. For the year ended 31st March 2017, the Group recorded PBT of 24.4Bn and PAT of Rs. 20.9Bn, an increase of 106% and 124% respectively, compared to the previous year. The consolidated gross income grew by […]

State Finance Minister Eran Wickramaratne assumes duty

The newly appointed State Minister of Finance Eran Wickramaratne assumed his duties at the Ministry of Finance Thursday Morning. Secretary to the Ministry of Finance Dr. R.H.S. Samarathunga, Deputy Secretary to Treasury, G.D.C. Ekanayaka and the Additional Secretary to the Ministry R. Semasinghe were Present.

Sri Lanka flood levels begin to reduce, more rain expected

Jun 01, 2017 (LBO) – Sri Lanka’s national disaster management officials have reported that water levels are beginning to recede along the major river basins, the Office of the UN Resident Coordinator said in a flood situation update. However, access to remote villages remains a significant challenge. With forecast of more rains in the coming […]

Sri Lanka to obtain USD200mn loan from Pakistan

Jun 01, 2017 (LBO) – Sri Lanka’s cabinet has approved obtaining of a loan worth 200 million dollars from Pakistan for the financing of priority development projects. The loan will be utilized for housing construction, development of livestock, importing equipment required for agriculture and dairy production, and development of the Industrial Technology Institute. Former Finance […]

Sri Lanka reinsures natural disasters with Renaissance Singapore

May 31, 2017 (LBO) – Sri Lanka has selected Renaissance Reinsurance Singapore as the lead reinsurer of the national natural disaster and emergency relief insurance scheme for the year 2017/18. This cover was introduced last year for natural disasters covering the whole country, and payment of claims have been expanded to include a range of […]

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