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Sri Lanka’s hills to get new domestic airport
Feb 17, 2016 (LBO) – Sri Lanka’s Ministry of Transport and Civil Aviation said that a new domestic airport to land light aircraft’s will be constructed in Haputale, in the the island’s central hill country. “It will be for the purpose of landing light aircraft under the programme of promoting the internal airport network,” the […]
Laugfs Power acquires Pams Power for 2MW mini hydro
Feb 17, 2016 (LBO) – Laugfs Power, a wholly-owned subsidiary of Laugfs Gas PLC, announced the acquisition of Pams Power (Pvt) Ltd for 200 million rupees to set up a 2MW mini hydro power plant in Ginigathhena in the Nuwara Eliya district. The plant, expected to be commissioned in early 2017 with a total investment […]
Sri Lanka’s Dialog Axiata net down 58-pct in December quarter
Feb 17, 2016 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television, declined 58 percent to 620 million rupees from a year earlier in the December 2015 quarter, interim accounts showed. Revenues grew 16 percent to 20 billion rupees in the December quarter from a year […]
Alpha Fire Services launches new water mist technology to combat kitchen fires
Colombo. Tuesday 16 February 2016. Alpha Fire Services (Pvt) Ltd Sri Lanka will showcase the Proano Kitchen Water Mist Fire Suppression Systems, which are rapid and effective on kitchen (F/K class) of fires, at the forthcoming ‘Architect Exhibition’ to be held at BMICH from 18th to 21st February. Water Mist is nebulised fresh water distributed […]
PTL Watch: Yields tick higher on foreign selling
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Norges Bank increases shareholding in Dialog Axiata
Feb 17, 2016 (LBO) – Norges Bank has increased its shareholding in Dialog Axiata PLC to 63.7 million shares as of end December, data filed with the Colombo Stock Exchange shows. Norway’s Norges Bank, which manages the world’s biggest sovereign wealth fund, is now the sixth biggest shareholder in telecommunications company Dialog with a 0.8 […]
President visits Holocaust Memorial & Jewish Museum in Germany (In Pics)
Feb 17, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena who arrived in Berlin on Tuesday (16) visited the Holocaust Memorial and the Jewish museum in the evening. The Holocaust Memorial in Berlin has been built to memorize the Jewish victims of the Holocaust. This, which has been designed by architect Peter Eisenman and engineer […]
Prof. B. Mahadevan speaks about Inspirational Leadership
World-renowned speaker Prof. B. Mahadevan is in Sri Lanka on the invitation of the Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), to conduct several programmes for the corporate leadership in the country. Prof. Mahadevan was the guest speaker at the CA Sri Lanka CEOs’ Breakfast Forum on “Inspirational […]
Fitch assigns Alliance Finance BB+ rating; outlook stable
Fitch Ratings Lanka has assigned Alliance Finance Company PLC (AFC) a National Long-Term Rating of ‘BB+(lka)’ with a Stable Outlook. The agency has also assigned the company’s outstanding senior unsecured debentures a National Long-Term Rating of ‘BB+(lka)’ and its outstanding subordinated debentures a National Long-Term Rating of ‘BB(lka)’. KEY RATING DRIVERS NATIONAL RATINGS AND SENIOR […]
Sri Lanka’s five challenges for development: World Bank
Feb 16, 2016 (LBO) – Sri Lanka’s has five main challenges that need to be addressed In order to sustain progress and fulfill development potential, the World Bank said. Releasing the Systematic Country Diagnostic report for Sri Lanka the World Bank said the country has ample opportunities to build on its success due to its […]