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Maximum retail price for rice comes into force
Feb 09, 2017 (LBO) – Sri Lanka’s Consumer Affairs Authority has issued maximum retail prices for three varieties of rice while the minister in charge issued a stern warning to errant sellers across the country. The order is effective from Wednesday and is issued by CAA Chairman Hasitha Thilekeratne under Consumer Affairs Authority Act No […]
‘s Bank authorized capital
Feb 09, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to instruct legal draftsman to amend certain sections of People’s Bank Act which seeks to increase the authorized share capital of the Bank and to issue debentures without government guarantee. At the cabinet meeting held yesterday, Public Enterprises Minister Kabir Hashim has submitted the […]
Sri Lanka COPE reveals Rs110bn loss from 15 public institutions
Feb 08, 2017 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises today presented its third interim report to the Parliament. The interim report which covers the activities from 01 May 2016 to 31 August 2016 is based on the inquiries carried out in 15 state-owned institutions. COPE Chairman Sunil Handunnetti presenting the report before […]
‘s external situation manageable, but more FDI needed: Governor
Feb 08, 2017 (LBO) – Sri Lanka’s external debt situation is manageable. However, the current challenge is to increase inflows from exports and FDI, Central Bank Governor Indrajit Coomaraswamy said on Wednesday. “The external debt situation, in our view, is manageable. Sri Lanka has never defaulted on a payment. But the challenge for the country […]
Ceylon Motor Show 2017 in PICS
Feb 08, 2017 (LBO) – Automotive enthusiasts thronged the BMICH over the last weekend to be a part of the Ceylon Motor Show 2017, Sri Lanka’s single largest showcase of the very latest in the motor vehicle industry alongside their counterparts from the classic and vintage era dating back to the 1900s. Registering attendance in […]
Toyota Lanka opens dedicated showroom for its first 1000cc car
Toyota Lanka (Private) Limited, the sole authorized distributor for Toyota vehicles in Sri Lanka opened doors to its latest showroom for the affordable, comfortable and safe 1000cc “Wigo” which was launched recently. The dedicated showroom situated within Toyota Plaza in Wattala embodies the fun and excitement that is synonymous with the “Wigo”. Launched targeting young […]
Citizens Development Business (CDB) goes live with Intellect DIGITAL FACE
(PRESS RELEASE) – Customer centric Digital Channel solution with an omni-channel experience Intellect Design Arena Ltd, a digital technology product provider across Banking and Insurance, today announced that Citizens Development Business Finance PLC (CDB) has gone live with Intellect’s DIGITAL FACE, an Omni Channel solution catering to demands of the modern customers. CDB will now […]
SAITM says ready to forge ahead amid protests
Feb 08, 2017 (LBO) – South Asian Institute of Technology and Medicine (SAITM) says they are ready for the rough road ahead and will push ahead despite opposition from students and staff of state universities. “These protests are driven by politics and fear of competition,” Dr. Neville Fernando, founder and chairman of SAITM told reporters […]
Government of Finland keen to invest in Sri Lanka
The Ambassador of Finland to Sri Lanka Rauli Suikkanen says that he would call leading entrepreneurs of his country to commence investment in Sri Lanka. Ambassador Suikkanen announced this when he met Finance Minister Ravi Karunanayake at the Ministry for Finance yesterday (February 6). Finish Ambassador Rauli Suikkanen further said that there is a confidence […]
Nikkei edges down in choppy trade; glass sector outperforms
TOKYO, Feb 8 (Reuters) – Japan’s Nikkei share average edged down in choppy trade on Wednesday morning as stocks tracked the volatile currency market, while the glass manufacturing sector outperformed on brisk earnings results. The Nikkei dropped 0.1 percent to 18,892.69, having dabbled in positive territory earlier in the trading session. The dollar fell 0.2 […]
‘pura medical faculty teachers threaten union action over SAITM issue
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Sri Lanka plans to generate electricity from tidal power
Feb 07, 2017 (LBO) – Sri Lanka plans a new project with Finnish assistance to generate electricity from tidal power, the power ministry said. Following a meeting with Ambassador of Finland to Sri Lanka Rauli Suikkanen, Ranjith Siyambalapitiya the minister for power and renewable energy said the ambassador had expressed his fullest support for the […]