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SriLankan Airlines urges Pilots Guild to respect due process
With regard to a news items reported in the Sunday newspapers SriLankan Airlines wishes to state the following: SriLankan Airlines refutes the comments by the individual who is quoted in the newspaper article. The Airline wishes to clarify that the issue in question is one of the refusal to follow the Company Procedure which is […]
Sri Lanka foreign reserves up USD125mn in August: Central Bank
Sept 12, 2016 (LBO) – Sri Lanka’s official reserves rose 124.7 million US dollars to 6.6 billion dollars in August, up from 6.5 billion dollars end of July, official Central Bank data showed. Foreign currency reserves were 5.6 billion US dollars, and reserves in Gold were 0.94 billion US dollars. Central Bank has purchased 190.8 […]
ZMAX Fairway Colombo opens for short stay travelers from this week
Nestled in the heart of Colombo Fort, the brand new ZMAX Fairway Colombo hotel lies between the old world charm of the Fort’s colonial past and the vibrant modern business and entertainment hub that surrounds it. Located close to that icon of colonial architecture turned uber-cool hang out, the Dutch Hospital, the ZMAX Fairway Colombo […]
CCC proposes amendments to Sri Lanka’s customs ordinance
Sep 12, 2016 (LBO) – The Ceylon Chamber of Chamber has made several proposals for the amendment of Sri Lanka’s Customs Ordinance. The Import Section of the CCC organized a seminar to discuss the proposed new customs law and the change in the current customs ordinance focusing on areas such as how the new law […]
Nine companies onboard as CA Sri Lanka practical training partners
Nine leading companies came onboard recently as Training Partners of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) representing diverse sectors and boosting the training partner portfolio of the institute which currently comprises of over 700 organisations from the public and private sectors. Stafford Motor Co (Pvt) Ltd., Lankem Ceylon PLC, Maga […]
Hanjin shipping bankruptcy to have indirect impact on Sri Lanka
Sept 10, 2016 (LBO) – The filing for bankruptcy by South Korean container shipper Hanjin Shipping will have an indirect impact on Sri Lanka with reduced space for cargo originating from the island, an industry official said. Hanjin, ranked the seventh largest globally, with 98 ships and 2.9 percent share of trade, has about 14 […]
SriLankan flights disrupted due to pilot work to rule
Sep 10, 2016 (LBO) – SriLankan Airlines said flights could get disrupted following a ‘work-to-rule’ campaign by its pilots union, protesting against the suspension of a pilot who refused a breathalyzer test. “There is a likelihood that flights will be disrupted, as we are currently calling pilots on their off days legally to support the […]
Sri Lanka Sampath Bank gets new MD
Sep 09, 2016 (LBO) – Sampath Bank Sri Lanka named Nanda Fernando as it’s new Managing Director following the retirement of Aravinda Perera. Nanda Fernando was Chief Operating Officer of the bank and has been with the bank since its founding, the bank said in a stock exchange filing. He will assume duties from 13 […]
Central Bank says no new licenses for finance companies
Sept 09, 2016 (LBO) – Sri Lanka’s Central Bank says it will not issue new licenses for finance companies and, as a result, licenses of existing companies will have a higher market value in the future. Releasing a statement, the Central Bank said this is a key factor in encouraging new investors. A good number […]
PTL Watch: Yields tick higher, Rs2.1 bln foreign inflow
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Sri Lankan rupee weaker on importer demand
Sept 9, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Friday as importer dollar demand surpassed inward remittances of the U.S. currency amid a lack of exporter conversions, dealers said. The spot rupee was at 145.10/15 per dollar at 0721GMT, compared with Thursday’s close of 145.00/15. One-weekforwards were at 145.25/35, compared with the […]
Sri Lanka to adopt chip card system before end 2017: Central Bank
Sept 09, 2016 (LBO) – Sri Lanka is looking at completely adopting the more secure and efficient chip card system before the end of next year, a Central Bank official said. This will be among several other initiatives lined up for implementing in the coming years under the 2020 road map for developing a national […]