Category:
Infrastructure: Negotiating position crucial in structuring deals, say experts
Nov 09, 2015 (LBO) – Sri Lanka’s government must pay attention to increasing its negotiating strength when seeking commercial borrowing and entering into partnerships with the private sector, financing experts said. This process involves announcing long-term plans, with properly structured projects in the pipeline, and building institutional capacity to structure deals, they said. “As a […]
Irregularity in bunkering leads to USD19.9mn loss to Hambantota Port
Nov 09, 2015 (LBO) – An irregularity which occurred at the Hambantota Port during the past administration has resulted in a loss of 19.9 million US dollars to Sri Lanka Ports Authority, the Ports Minister revealed.Ports Minister Arjuna Ranatunga said the irregularity is connected to an oil ship that was rejected by CPC due to […]
Pakistan Commerce Minister to arrive Sri Lanka
Pakistan’s Commerce Minister Khurram Dastgir Khan is arriving in Sri Lanka on a three-day official visit to boost bilateral investment and trade between the two friendly countries. He would be accompanied by a high powered business delegation consisting of cement, pharmaceutical, food and beverage, sugar, shipping, construction and manufacturing sector companies. The visit of Commerce […]
CCC welcomes PM’s new economic policy statement
Nov 09, 2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce (CCC) has welcomed Prime Minister Ranil Wickremesinghe’s statement in Parliament recently which provided important economic policy direction, a statement said. “The private sector was seeking clarity on the government’s economic policy agenda, and this statement has provided that.” Large and persistent budget deficits have […]
Sri Lanka’s HDFC Bank to raise Rs4bn from listed debenture
Nov 07, 2015 (LBO) – Sri Lanka’s HDFC Bank is to raise 4.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing.The company has decided to issue 30 million debentures at 100 rupees each with an option to issue up to a further 10 million debentures in the event […]
Aitken Spence launches Turyaa by Heritance at World Travel Market
Leading regional hospitality operator Aitken Spence Hotels announced the launch of its latest brand,Turyaa by Heritance,at the World Travel Market [WTM] in London. The World Travel Market is the leading global event for the travel industry providing an opportunity for the global travel trade to meet, network negotiate and conduct business. Turyaa by Heritance was […]
Virtusa to provide IT services to Citigroup after acquiring Polaris for USD270mn
Nov 07, 2015 (LBO) – Global IT outsourcing company, Virtusa Corporation announced that it is to acquire a majority interest in Polaris Consulting, a global IT solutions provider in financial services for 270 million US dollars.The transaction includes both the 51. 7 percent majority interest and an unconditional mandatory open offer to purchase up to […]
Special cabinet meeting Monday to discuss Avant Garde issue
Nov 06, 2015 (LBO – Sri Lanka’s President Maithripala Sirisena has called a special cabinet meeting on Monday to discuss the Avant Garde issue, Cabinet Spokesman, Minister Rajitha Senaratne told reporters on Friday.“We have already informed our stance in this regard and will take a further decision only after Mondays meeting,” Minister Rajitha Senaratne said. […]
Tea Board to purchase auction tea until price stabilized
Nov 06, 2015 (LBO) – Sri Lanka’s Tea Board will purchase quality tea from the tea auction for the price of 430 rupees per kilogram until the price reaches the limit of 450 rupees. “We are putting one billion rupees to the tea market,” Rajitha Senaratne, Cabinet Spokesman said. “Tea prices are controlled by the […]
Govt to introduce liquor labels to control illegal liquor
Nov 06, 2015 (LBO) – Sri Lanka’s government plans to introduce liquor labels to control illegal liquor entering the market.As the government has imposed a larger tax, illegal bottled liquor seem to be entering the market, Cabinet Spokesman Rajitha Senaratne told reporters. “Under these circumstance many customers tend to drink unhealthy liquor,” he said.The proposal […]