Tag: lbo.lk
Sri Lanka adverse weather death toll at 13, Showers to continue
May 24, 2018 (LBO) – Sri Lanka’s death toll due to the prevailing adverse weather conditions had increased to 13 as rains are expected to peak on Thursday with showers or thundershowers to occur in Western, Southern, Sabaragamuwa, Central and North-Western provinces, reports said. The Disaster Management Centre (DMC) said 11 people were confirmed dead on […]
Sri Lanka tea exports up in April 2018, Low grown production down
May 24, 2018 (LBO) – Sri Lanka’s tea exports for the month of April 2018 showed a gain of 0.7M/kgs when compared with the same period last year while bulk tea and tea bags show a marginal decrease, a new report shows. “When analyzing the total revenue realized of 17.1 billion rupees for April 2018, […]
Cabinet nod for bonded warehouses
May 24, 2018 (LBO) – Sri Lanka’s cabinet of Ministers have approved the establishment of bonded warehouses for pharmaceuticals, dairy products, solid waste management and renewable energy with intent to expand investment. The proposal, outlined in Budget 2018 was put forward by Finance Minister Mangala Samaraweera. “Under the Budget proposal, it was proposed to give tax relief […]
Sri Lanka approves BOT system for state buildings
May 24, 2018 (LBO) – The cabinet has approved to construct public buildings under the Build, Own and Transfer (BOT) system by the private sector, a statement said. “The construction and maintenance of large public buildings including schools, universities, hospitals and vocational training centres require substantial public funds,” the cabinet office said in a statement. “…..if […]
Sri Lanka launches new budget Tuk Tuk Hostels
The launch of Tuk Tuk Hostels (TTH) marks a new addition to the budget accommodation offering for tourists in Colombo and embraces the youth hostel concept to its fullest. TTH caters to the expectations of young travelers and all those who value sharing, spontaneity and experience. Located down Thimbirigasyaya Road, Colombo 5, TTH offers a […]
Kishu Gomes steps down as CEO of Chevron in Sri Lanka
May 23, 2018 (LBO) – Chevron Lubricants Lanka said that Kishu Gomes will be stepping down as Managing Director and Chief Executive Officer of the company effective 22, May 2018. In a stock exchange filling the company said that Rochana Kaul will be replacing Gomes with intimidate effect in an acting capacity. Kaul is General Manager of […]
Sri Lanka Central Bank clarifies on external debt and reserves
May 23, 2018 (LBO) – Sri Lanka’s Central bank issuing a statement has clarified a misleading news item has been disseminated in relation to Sri Lanka’s foreign reserves and external debt servicing. “The contents of the news item portray a misleading picture of the country’s external position,” it said. The full statement follows: External Debt […]
CEB strengthens Maintenance Management Process with ACECAM
Ceylon Electricity Board (CEB) is the leading state-owned organization in using Computerized Maintenance Management Solution(CMMS) for utility management in Sri Lanka with its solution partner Acecam (Pvt) Ltd. CEB continues the journey of improving their entire maintenance management process by implementing “TOMMS” which is a computerized maintenance management software (CMMS) for its critical asset management […]
‘s Teejay Lanka doubles capacity of India plant with USD15Mn expansion
May 21, 2018 (LBO) – Teejay Lanka, a textile manufacturer said they will be doubling of capacity of its Indian mill, following the completion of an expansion project involving an investment of US 15 million dollars (more than 2.3 billion rupees at current rates). Located within the 1,000-acre Brandix India Apparel City (BIAC) in Vizag, Andrapradesh, […]
ADB, Sri Lanka sign USD210Mn loan for Mahaweli water security investment program
May 18, 2018 (LBO) – The Asian Development Bank (ADB) and the Government of Sri Lanka signed a US 210 million dollar second tranche loan agreement for the Mahaweli Water Security Investment Program, the Finace Ministry siad. The programme will assist Sri Lanka complete its on going drive to deliver surplus water from the Mahaweli […]
Janashakthi life business reports Gross Written Premium of Rs.764Mn , YoY growth 8-pct
Janashakthi Insurance PLC (Janashakthi) reported its financial results for the three month period ended 31st March 2018. Janashakthi had divested its General Insurance business earlier in the quarter, generating a substantial profit of Rs. 9.2 billion at a company level during the period under review. A significant portion of the proceeds from the sale […]
Nations Trust Bank – Realizing Dreams
The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out a place for itself in Sri Lanka’s Banking and financial services space. Innovation and a fresh approach have always been the Bank’s most potent tools and […]