Tag: lbo.lk
Ceylon Chamber discussion puts energy security at the centre of Sri Lanka’s growth agenda
The Ceylon Chamber of Commerce brought together policymakers, industry players, academics and other stakeholders last week for a discussion on Sri Lanka’s energy transition, framing the shift to cleaner power as much a matter of economic strategy as environmental necessity. The event, titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets,” comes as […]
GovTech Sri Lanka appoints Shevan Goonetilleke as CEO
GovTech Sri Lanka (Pvt) Ltd has announced the appointment of Shevan Goonetilleke as its Chief Executive Officer, effective 19 August 2026. His appointment marks the next phase of execution in delivering Sri Lanka’s national digital transformation agenda. GovTech Sri Lanka (Pvt) Ltd is the Government of Sri Lanka’s lead implementation agency for national digital transformation. […]
Sri Lanka moves back into upper-middle income bracket, World Bank says
Sri Lanka has been reclassified as an upper-middle income economy by the World Bank, a milestone officials are calling hard-won but fragile because the country has been here before, and lost the status within a year. The change was confirmed in the World Bank Group’s Country Income Classifications for the fiscal year running from 1 […]
Sri Lanka’s inflation hits 6.8-pct in June
Sri Lanka’s inflation problem isn’t going away anytime soon. June’s headline number came in at 6.8% year-on-year, up from 5.5% in May, and the drivers are exactly what most people already feel when they fill up their tank or do their weekly grocery run. Energy costs remain the main villain here. The Middle East conflict […]
Janathakshan and Coca-Cola Foundation conclude a high-impact plastic waste management project
Janathakshan GTE Ltd, with funding support from The Coca-Cola Foundation, has successfully concluded the project “Strengthening Women and Youth Engagement in Informal Waste Management in Sri Lanka (SWYFT)”. Running from August 2024 to May 2026 across the Kandy, Nuwara Eliya, Matale, and Kurunegala districts, this multi-district initiative significantly strengthened plastic waste management systems and championed […]
Sri Lankan drone startup Scouts closes investment round at LKR 1.6Bn valuation, gearing up to take on regional intelligent robotics market
Scouts, Sri Lanka’s pioneering intelligent drone and robotics company, has closed a funding round at a valuation of LKR 1.6 billion. In a market that has historically exported its engineering talent rather than retaining it, the round represents something more than a financing milestone. The company offers an economically viable solution for security, from small […]
Colombo Dockyard charts new course under Indian ownership as MDL partnership opens doors to regional maritime growth
Colombo Dockyard PLC (CDPLC) successfully concluded its 43rd Annual General Meeting (AGM) on 25 June 2026, marking its first AGM following the acquisition of a majority stake by Mazagon Dock Shipbuilders Limited (MDL), India. The Company said the new strategic alignment with MDL is expected to unlock fresh growth avenues, enhance technical capabilities, and strengthen […]
President sets up 14 member commission to tackle public sector salary, pension issues
President Anura Kumara Dissanayake has established a Salaries and Pensions Commission to address long-standing salary and pension issues affecting public sector employees and pensioners, with retired Ministry Secretary Asoka Peiris appointed as chairman. The commission was formed through Extraordinary Gazette Notification No. 2494/05, dated 22 June 2026. Its core mandate is to recommend sustainable solutions […]
Government to back apparel exporters with land reforms, ‘Plug and Play’ factories
President Anura Kumara Dissanayake chaired a discussion at the Presidential Secretariat on Monda aimed at resolving challenges facing Sri Lanka’s apparel sector and boosting the country’s export earnings. The meeting brought together top business leaders and investors from the industry to discuss practical hurdles and the support needed to roll out the Export Development Board’s […]
Sri Lanka, US reaffirm strong ties as talks focus on trade gap and tariffs
President Anura Kumara Dissanayake met with visiting US Assistant Secretary of State for South and Central Asian Affairs, Dr. Paul Kapur, at the Presidential Secretariat this afternoon (22). The two sides reflected on 77 years of Sri Lanka-US relations, noting how the partnership has grown to cover trade, defence, investment, tourism and people-to-people connections. Kapur […]
Scalable capture: Sri Lanka’s marine plastic problem is compounding, so is the response
Once considered a ‘miracle material’ capable of solving every industrial and consumer problem of the 20th century, today, plastic has become a ‘technofossil’. It has been found in snow at the top of Mount Everest, and as deep as the Marina Trench, across every known ecosystem, ultimately bio-accumulating up the food chain to humans as […]
Amana Takaful PLC concludes rights issue, Raises over Rs. 1Bn amid strong shareholder demand
Amana Takaful PLC has successfully closed its Rights Issue, raising more than Rs. 1 billion through the allotment of over 52.8 million new ordinary voting shares priced at Rs. 19 each. The offer, extended exclusively to existing shareholders, was oversubscribed by 68.8%, signaling solid investor confidence in the company’s direction. The response builds on a […]