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MAS joins hands with UNFPA to ensure gender-mainstreamed corporate policies
(PRESS RELEASE) – Colombo, 7 March 2017: Sri Lanka’s female labour force participation is declining. In 2006, females constituted 39. 5% of the working force, where as in 2014, this number has come down to 36.3%. In response to this socio-economic issue, it is imperative that organizations continuously review corporate policies to instill an organizational […]
New Zealand keen to broaden investment in Sri Lanka
Mar 08, 2017 (LBO) – The Government of New Zealand expects to broaden existing investment in Sri Lanka and is ready to assist in economic development activities in the island, the finance ministry said in a statement. New Zealand wants to provide technical support in infrastructure development and assist in developing the agricultural sector of […]
Pan Asia Bank completes Rs 2Bn rights issue
Mar 08, 2017 (LBO)- Sri Lanka’s Pan Asia Banking Corporation said they were successful in completing a rights issue to raise up to 2.06 billion rupees. In December 2016 the bank announced the issue of 147. 5 million shares at one new share for every two shares held at an issue price of 14 rupees. […]
Sri Lanka BPPL Holdings IPO oversubscribed
Mar 08, 2017 (LBO) – Sri Lanka’s brush exporter BPPL Holdings said its initial public offer of 30. 68 million ordinary shares at 12 rupees each was oversubscribed the opening day. The company said in a stock exchange filling that therefore they were closing the offer, Tuesday. The company also known as Beira group said Hirdramani […]
Sri Lanka to train foreign service in economic diplomacy: Harsha
Mar 07, 2017 (LBO) – Sri Lanka’s government will be training its officials in the foreign service through a online economic diplomacy course with Harvard University to help improve the island’s investment and export promotion, a deputy minister said. “Sri Lanka is running a race, where we are behind Thailand, Vietnam, Myanmar and Malaysia,” Harsha […]
No proposal yet for new Coca-Cola plant in Sri Lanka: Minister Malik
Mar 07, 2017 (LBO) – Sri Lanka’s International Trade Ministry has not yet received a request for setting up a new Coca-Cola plant in the island, Development Strategies and International Trade Minister Malik Samarawickrama said. “We have not received any proposal with regard to establishing a Coca-Cola production factory in Sri Lanka,” Minister Samarawickrama told […]
Sri Lanka fulfilled Dec fiscal targets, eyes on SOE reforms: IMF
Mar 07, 2017 (LBO) – Sri Lanka needs to accelerate implementation of structural reforms in public financial management and state owned enterprises, the International Monetary Fund said Tuesday, concluding a staff visit. A staff team from the IMF led by Jaewoo Lee visited Colombo during February 21-March 7, 2017 to hold discussions on the second […]
CEB wants to lift non-conventional renewable energy to 17-pct by 2019
Mar 07, 2017 (LBO) – Sri Lanka’s state owned Ceylon Electricity Board has set a target to increase electricity generation from renewable resources from the current 10 percent to 17 percent by the end of 2019. Increasing nonconventional renewable energy generation composition is one performance target that CEB has agreed to adhere in line with […]
‘s Madu Ratnayake recognized as one of India’s best 50 CIOs
VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, announced that, Madu Ratnayake, executive vice president, CIO and head of business process excellence, has been recognized as one of India’s Top 50 CIOs in the latest edition of […]
‘s real estate industry calls for more regulation
Mar 07, 2017 (LBO) – Sri Lanka’s real estate brokers, agents and developers need to professionalize services with the involvement of the the government to ensure future growth, industry officials said. “The emerging and perhaps urgent need of the real state industry is for some type of regulation to be introduced in order to regulate […]
President Sirisena on State Visit to Indonesia
(PRESS RELEASE) – President Maithripala Sirisena who left for Indonesia this morning, 6 March 2017, arrived in Jakarta today. He will participate in the20th Anniversary Summit of the Indian Ocean Rim Association (IORA) in which Sri Lanka is a founding member, on 6 and 7 March. This will be followed by a State Visit on 8 March. A State Visit to Indonesia takes place […]
Flemington Rajagiriya Apartments records 60-pct of apartments sold
(PRESS RELEASE) – Colombo, 07 February 2017 – Sri Lanka’s first Australian inspired condominium, The Flemington, Rajagiriya records 60% of apartments sold, following the start of construction in November 2016. The Rajagiriya condominium project by EliSh Development, marketed to the local market, has seen 70% of apartments sold to Sri Lankans residing locally and 30% […]