Category:
Restrictions on issuing passports to Sri Lankan citizens lifted: Foreign Ministry
June 01, 2016 (LBO) – Sri Lanka’s government has issued a circular ending the restrictions placed in March 2011 on the issuance of passports to Sri Lankan citizens resident abroad who, at different times, were compelled to leave Sri Lanka due to conflict or political reasons. Releasing a statement Foreign Ministry said in March 2011, […]
Federal proposal among Sri Lankan views on constitutional reform: PRC
June 01, 2016 (LBO) – Sri Lanka’s Public Representations Committee (PRC) on constitutional reforms has received various proposals from the public including proposals for a federal solution with separation of power, the committee said. The Chairman of the Committee Lal Wijenayake told reporters Wednesday that the public had different views on the nature of the […]
DFCC Bank joins CSE to open trading for June
DFCC Bank rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of June. The Bank’s Chairman Mr. Royle Jansz, CEO Mr. Arjun Fernando, Deputy CEO Mr. Lakshman Silva and Company Secretary Ms.Anomie Withana were present […]
Sri Lankan rupee forwards edge down on importer dollar demand
June 1 (Reuters) – Sri Lankan rupee forwards fell on Wednesday due to dollar demand from importers amid fears the currency could weaken further if the government increased spending to deal with the country’s worst natural disaster since 2004, dealers said. Dollar/rupee forwards, known as spot next, were at 148.30/40 per dollar compared with Tuesday’s […]
Sri Lanka to sign MoU with Singapore’s Surbana Jurong to develop Trinco
Jun 01, 2016 (LBO) – Sri Lanka’s Minister of International Trade said that Surbana Jurong, a firm specializing in urbanization and infrastructure development, will sign a memorandum of understanding with the government to develop Trincomalee. “Surbana Jurong will also be developing a Master Plan for the Trincomalee region,” Malik Samarawickreme, minister of development strategies and international […]
Shangri-La opens 145-acre resort in Hambantota Sri Lanka
June 01, 2016 (LBO) – Shangri-La opened its 145-acre Hambantota Resort & Spa in the Southeast Sri Lanka on Wednesday, one of the major hotel chains to enter the island after the end of a war with Tamil Tiger separatists. The 300-room beachfront resort, which includes an 18-hole golf course and an artisan village, launched […]
Fitch to host sovereign and corporate forum
Fitch Ratings Lanka Ltd. will host the Sovereign and Corporate Forum on Thursday, 16 June 2016, at 5.30pm-8.30pm at Bougainvillea Room, Galadari Hotel, 64 Lotus Road, Colombo, Sri Lanka. Fitch’s sovereign analysts will discuss the global economic outlook and the implications for Asia-Pacific markets such as Sri Lanka, as well as the economic adjustments in […]
SINGER ties up with Ministry of Higher Education to provide laptops to University students
Singer Sri Lanka PLC, the country’s premier consumer durables retailer, tied up with the Ministry of Higher Education to provide laptops for university students across the country as per the program to provide interest free loans for laptops by the government of Sri Lanka. As per the Government budget proposal 2016, the project is implemented […]
Huawei invests USD9.2 billion in 2015,15-pct of annual revenue for R&D
As a leading ICT solutions and smart device provider and patent owner, Huawei invests heavily in research and development. In 2015 alone, Huawei invested US$9.2 billion, or 15% of its annual revenue, in the research and development of new technologies, new products, and wireless communications standards. Huawei’s substantial investment in R&D over the years has […]
CA Sri Lanka joins hands with Malaysian Directors Academy to enhance professional development
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently signed a Memorandum of Understanding with the Malaysian Directors Academy (MINDA) in an effort to develop a framework which will facilitate exchange of information, as well as enhance the effectiveness of the Board and it’s Directors. The agreement which was signed by President […]
Emerging market currencies fall on chance of Fed rate hike
June 01, 2016 (LBO) – Emerging-market currencies fell this week on the possibility that the Federal Reserve may raise interest rates in June or July. Fed Fund futures predict a 23 percent chance of a U.S. rate hike in June, which rises to 59 percent by July, after Fed Chair Janet Yellen said the strengthening […]
Sri Lanka’s People’s Leasing eyes South East Asian market
May 31, 2016 (LBO) – Sri Lanka’s People’s Leasing and Finance, the country’s largest non-bank lender, is looking at expanding their operations into the South East Asian market, a senior official said. “You can expect an announcement soon, may be in the next two months,” D P Kumarage, Chief Executive, People’s Leasing told LBO. “We are […]