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New passenger terminal at Bandaranaike Airport with JICA funding
Jan 28, 2016 (LBO) – The cabinet has decided to enter into a loan agreement with the Japan International Cooperation Agency to obtain funds to build a passenger terminal at Bandaranaike International Airport. The proposed passenger terminal with 180,000 square meters has a higher level access way to the terminal in addition to the provision […]
Safety of life at sea amendment from July, says European Chamber of Commerce
Jan 28, 2016 (LBO) – The International Maritime Organization’s amendment to the Safety of Life at Sea (SOLAS) agreement will come in to effect globally on July 1, 2016, which Sri Lankan authorities and shippers will need to follow, the European Chamber of Commerce in Sri Lanka said in a white paper. This amendment stipulates […]
PTL Watch: 2026 bond accepted at 11.14 pct at auction
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SriLankan launches thrice-weekly non-stop flights from Guangzhou to Colombo
SriLankan Airlines introduces thrice weekly non-stop flights from Guangzhou to Colombo from January 2016, on three of its four frequencies, becoming the first airline operating direct flights between Guangzhou and Colombo in the South China market. The flying hours of these non-stop frequencies are estimated to be 05 hours and 40 minutes whereas the previous […]
Sri Lanka up two notches on Corruption Perceptions Index 2015
Jan 28, 2016 (LBO) – Sri Lanka has been ranked 83rd among 168 countries in the 2015 Transparency International Corruption Perceptions Index showing a marginal improvement on its 85th place in 2014. The index which ranks countries according to the perceived level of public sector corruption is based on a scoring system that ranges between […]
Fonterra, Dairy co-operative unveils wider strategy to support local dairy industry
Fonterra Brands Sri Lanka today announced the construction of its first demonstration and training farm in Sri Lanka,as part of the company’s long-term investment in the growth of the local dairy industry. The dairy co-operative, which has been operating in Sri Lanka for over 38 years, has invested overRs. 380 million in local dairy development […]
Janashakthi – National Civilian Bravery Awards
Janashakthi Insurance PLC, a leading Insurance provider in Sri Lanka, announced its partnership with the Foundation of Civilian Bravery Sri Lanka for the ‘Janashakthi – National Civilian Bravery Awards’ to recognize civilians who voluntarily risk their lives while saving, or attempting to save others from peril. The Foundation of Civilian Bravery Sri Lanka believes that […]
Chances of March Fed rate hike drop after FOMC statement
Jan 28, 2016 (LBO) – The chances of a U.S. Fed rate hike in March dimmed after a FOMC policy statement on Wednesday acknowledged global economic risks, as analysts interpreted the carefully worded statement. The FOMC decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent after a two-day […]
IRCON plans to assist Sri Lanka Railway future projects
Jan 28, 2016 (LBO) – Indian government backed IRCON International has expressed its willingness to assist Sri Lanka’s railway development in line with the priorities of the transport sector, a company official said.Commemorating their 7 year presence in Sri Lanka, Project Director S L Gupta told reporters Wednesday that the timely completion of their projects […]
Government should engage with public on FTAs: Deshal De Mel
Jan 28, 2016 (LBO) – Sri Lanka’s government needs to engage with the public when negotiating Free Trade Agreements with other countries, economist Deshal De Mel said. De Mel on his blog stated that local manufacturing and services enterprises may have disruptive impacts through the Free Trade Agreement with China. “It is curious that there […]
Central Bank appoints new Deputy Governor
The Monetary Board, with the concurrence of the Hon. Minister of Finance, has promoted Assistant Governor, Mr. S Lankathilake to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 24th January 2016. Mr. S Lankathilake has more than 30 years of experience in the CBSL in the areas […]
LBR LBO Infrastructure Summit 2015 – Keynote Speech – Olle Zetterberg
Cities – habitat to half of world population – now generate over 80% of the global GDP. According to a study by “The Economist “(2012), already global business is beginning to plan strategy from a city, rather than a country, perspective. Given the rapid growth and development of many cities, competition between them for business, […]