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Prime Minister commences three-day official visit to India
Sept 14, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe will begin a three-day visit to India on Monday, his first international visit after taking office as prime minister.Wickremesinghe is expected to meet Prime Minister Narendra Modi, External Affairs Minister Sushma Swaraj and President Pranab Mukherjee. The visit signifies the new government’s wish that […]
Hayleys employees benefit from share trust dissolution
Sept 13, 2015 (LBO) – Employees of Hayleys PLC will benefit from the dissolution of its Employees’ Share Trust and hold shares worth around a billion rupees, an official said.The trust was set up to fight a takeover bid by the Carsons Group, and according to the company, was allotted 2.4 million ordinary shares of […]
Gas not included in Sri Lanka’s power generation plan
Sep 12, 2015 (LBO) – Gas found in the Mannar basin has not been included in Sri Lanka’s long-term power generation plans as discovery of the natural gas resources is still at very early stages, a Ceylon Electricity Board report says. The gas quantities have not been quantified with reasonable accuracy, the report adds, even […]
USAID Project Garners Prestigious International Energy Award
Lanka Rain Water Harvesting Forum (LRWHF) this week received the prestigious 2015 Energy Globe National Award to celebrate its work on energy efficiency, renewable energy, and resource conservation initiatives. The project was supported by the United States Agency for International Development (USAID), and USAID Mission Director Elisabeth Kvitashvili and former Minister for Water and Drainage […]
Sri Lanka Pakistan Trade and Investment Forum 2015
At a panel discussion held during the Sri Lanka Pakistan Trade and Investment Forum organized by the Federation of Chamber of Commerce of Sri Lanka (FCCSL) BOI Chairman Upul Jayasuriya briefed Pakistani entrepreneurs on the new attractive investment climate of Sri Lanka. Jayasuriya spoke of the very close relations between the two countries. Pakistan had […]
CA Sri Lanka creates new record inducting 544 new Chartered Accountants
In a renewed boost to the country’s prestigious accounting profession, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) created an all-time new record by inducting 544 new Associate Chartered Accountants (ACAs) at the 2015 Convocation. The convocation was held under the patronage of Mr.Ajith E Tudawe, Chairman of Ceylon Hospitals PLC (Durdans […]
Sports Minister visits Sri Lanka Cricket
Sri Lanka Cricket wishes to announce that the newly appointed Minister of Sports Hon. Dayasiri Jayasekara visited SLC today. The Minister was welcomed by Vice Presidents of SLC Kushil Gunasekara & Kaplia Wijegunawardene, Secretary of SLC Prakash Schaffter, Nuski Mohamed, Jayananda Warnaweera & Carlton Bernadus – Head of Cricket Operations & Actg. CEO of SLC. […]
Sri Lanka CEB sees USD13 bn investment in power plants over next 20 years
Sep 11, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board says the total estimated cost to implement the 2015-2034 long-term electricity generation plan is approximately 13 billion US dollars. The generation plan says: “The total investment required for implementing the Base Case Plan 2015-2034 in the next 20 years is approximately USD 12.96 Billion without […]
Sri Lanka stocks close down 0.09-pct
Sep 11, 2015 (LBO) – Sri Lankan stocks closed down 0.09 percent on Friday mainly on concerns of exchange rate and balance of payment issues with some telecom and banking sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 6.45 points at 7,153.49 lower 0.09 percent. S&P SL20 closed […]
Japan looks for investment opportunities in Sri Lanka: Finance Minister
Sep 11, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that Japan has showed interest in investing in wide areas of activities in terms of investment and infrastructure development. “They are looking for five different activities, especially in the infrastructure area and the intention that has been displayed by them is phenomenal,” Karunanayake […]
Fitch affirms Citibank Colombo branch at AAA
Sep 11, 2015 (LBO) – Fitch Ratings Lanka has affirmed Citibank Colombo Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS NATIONAL RATINGS CitiSL’s rating is the highest on the National Rating scale and reflects the credit profile and financial strength of Citibank, N.A. (A+/Stable). Citibank, N.A.’s rating is higher than Sri […]
Sri Lanka’s foreign affairs deputy Harsha de Silva says “This is where the game is”
Sep 11, 2015 (LBO) – Sri Lanka’s new Deputy Minister of Foreign Affairs Harsha de Silva told Lanka Business Online that discussions are on to develop a foreign policy towards achieving the island’s economic goals through diplomacy, and he is excited about the new task given. “This is a good opportunity,” de Silva said. “We […]