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Sri Lanka’s Central Bank to sell USD200mn development bonds
June 03, 2016 (LBO) – The Central Bank will issue 200 million US dollars development bonds with a tenor of 1 year, 2 years, 3 years and 5 years to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD plus a margin […]
‘t be pressured regarding land reclamation: President
June 03, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed officials to adhere strictly when implementing the government’s decision to prohibit unauthorized land reclamation in the Western Province. “I will always stand up on behalf of the officials who are taking the correct decision,” he said and requested those officials to inform him without […]
Radiant Eye Hospital launches web site
Radiant Eye Hospital officially launched its unique website radianteye.lk on Thursday, 2 June 2016. The launch was experienced by healthcare professionals, stakeholders and members of the media. Heading the team is the hospital’s founder Dr. Shamintha Amaratunga, an eye surgeon who has built a reputation for excellence in the field of eye care. Dr. Amaratunga […]
Ethics crucial to business, says SEC Chairman Karunaratne
June 03, 2016 (LBO) – Ethics is crucial to business in the context of redefining our social order, Thilak Karunaratne, the chairman of Sri Lanka’s Securities and Exchange Commission said, speaking to the Junior Chamber International Biz Meet. It is imperative that we “redefine the current social order and revitalize our actions and thoughts in […]
Singer launches first-ever online wedding registry
Singer Sri Lanka PLC, the country’s leading consumer durable retailer, launched its first-ever Online Wedding Registry at a special ceremony held recently. Singer Online Wedding Registry will allow couples to create and manage their own wedding registry from anywhere in the world by simply logging onto a secure web portal. It will include a comprehensive […]
Sri Lanka’s LOLC March net up 46-pct amid growing incomes
June 03, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the March quarter rose 46 percent to 2.3 billion rupees. The group reported earnings per share of 4.83 rupees for the quarter up from 3.31 from a year earlier and the […]
Sri Lankan Researchers honoured for Process Innovation treating Asthma
In what can be hailed as a national achievement, two Sri Lankan scientists, Manoj Hettiarachchi and Nalin Kannangara of Sri Lankan pharmaceutical company Emergen Life Sciences were recently honoured with a Silver Award at the 44th International Exhibition of Inventions held in Geneva for their innovation of a Process of Manufacturing of Budenoside+Foremtrol Dry Powder […]
Korean firm wants to revive KKS cement with USD450mn investment
June 03, 2016 (LBO) – Korea’s AFKO group is interested in reviving the Kankesanthurai cement plant with a 450 million dollar investment, the Ministry of Industry and Commerce said in a statement. AFKO Group, which merged with Korea’s multinational chaebol Hyundai Group in 2008, has its own construction and cement projects in several countries. The […]
Sri Lanka Monetary Board statement on treasury bond auctions
June 02, 2016 (LBO) – Sri Lanka’s Monetary Board, in a statement, says a market based mechanism has been in place since February 2015 in auctioning of Treasury bills and bonds, in response to allegations of lack of transparency in processes followed. The full statement is below: This refers to the recent articles and discussions […]
Sri Lanka drops Bus Rapid Transport proposal from Megapolis
June 02, 2016 (LBO) – The transport committee of Sri Lanka’s Western Megapolis has dropped an earlier proposal to introduce a Bus Rapid Transport (BRT) system due to reasons including inability to add additional bus lanes. The decision has been reached after analyzing a feasibility study by Moratuwa University which shows that the proposed BRT […]
Sri Lankan rupee forwards slightly firmer on bank dollar sales
June 2 (Reuters) – Sri Lankan rupee forwards edged up on Thursday as banks, led by state-owned lenders, sold dollars amid light demand for the U.S. currency from importers, dealers said. Dollar/rupee forwards, known as spot next, were at 147.85/148.05 per dollar at 0540 GMT with compared with Wednesday’s close of 148.25/40. Spot next, which […]
World Bank provides USD55mn to develop Jaffna
Jun 02, 2016 (LBO) –The World Bank has approved a 55 million US dollar loan to Sri Lanka to improve urban services, preserve cultural and environmental assets and improve livability in Jaffna. “The loan will add development of rapidly urbanizing Jaffna to the existing Strategic Cities Development Project (SCDP), which is supported by the World […]