Tag: lbo.lk
PUCSL asks power utility to develop 12 new generation scenarios
June 30, 2017 (LBO) – Sri Lanka’s Public Utilities Commission of Sri Lanka (PUCSL) has asked the Ceylon Electricity Board (CEB) to submit 12 scenarios which will provide different power plant combinations by 7th of July 2017. Issuing a statement the PUCSL said these scenarios should be developed with updated prices for coal, natural gas […]
Reforms in Sri Lanka urgent but need to limit cost to the poor: WB
June 30, 2017 (LBO) – Sri Lankan government led reforms to improve competitiveness, maintain macro-fiscal stability and strengthen institutions, with broad support in the country, are key to robust economic growth, job creation and poverty reduction, a new World Bank report said. The Sri Lanka Development Update launched Thursday said that the economy and its […]
Sri Lanka appoints Dumith Fernando to CSE Board
June 29, 2017 (LBO) – Sri Lanka’s Colombo Stock Exchange said it appointed Dumith Fernando as a Director of its board at its Annual General Meeting in place of Vajira Kulatilaka. Fernando is an experienced international investment banker with over two decades in the industry in the US and Asia. He led the acquisition of Asia […]
‘s Ube takes 10-pct stake in Tokyo Cement
June 28, 2017 (LBO) – Ube Singapore Holdings Pvt, a Japanese group operating businesses in the Southeast Asian region, has acquired a 10 percent stake in Sri Lanka’s Tokyo Cement Company (Lanka), a statement said. In a stock exchange filing Tokyo Cement Company said that 10,692,000 ordinary voting shares of the company was bought at […]
Celogen Lanka opens USD6.6Mn pharmaceutical plant in Pallekelle
June 28, 2017 (LBO) – Celogen Lanka (Pvt) Ltd has opened a new pharmaceuticals manufacturing plant with an investment value of 6.6 million dollars at the BOI Kandy Industrial Park at Pallekelle. The manufacturing facility, a joint venture between Sri Lankan and India, was formally opened by President Maithripala Sirisena, the Board of Investment said […]
Japanese ambassadors in five SAARC countries meet Foreign Minister Ravi
June 28, 2017 (LBO) – Japanese ambassadors in five SAARC countries India, Nepal, Maldives, Pakistan and Bangladesh met Foreign Minister Ravi Karunanayake Tuesday at the Ministry. “The ambassadors hailed the ongoing development activities in Sri Lanka and pointed out the growth in the country is a matter of pride for other nations in the region,” […]
GMOA says “NO”‘s statement on SAITM
June 27, 2017 (LBO) – Sri Lanka’s Government Medical Officers Association (GMOA) said Monday that they were not accepting President Maithripala Sirisena’s statement on SAITM and will continue their strike action. After discussions with the GMOA the president’s office issued a statement that the South Asian Institute of Technology and Medicine (SAITM) was instructed to […]
Sri Lanka Economic Summit to discuss need for Smarter Trade Strategy
June 27, 2017 (LBO) – ‘Sri Lanka Economic Summit 2017’ will dig deeper into the island’s trade reform agenda anchored towards new preferential trade pacts, tariff liberalization and export promotion, with the participation of experts representing both local and international trade bodies. A thematic session titled ‘Executing a Smarter Trade Strategy Amidst Turbulence’ will have a […]
Qatar Airways eyes investment in American Airlines
June 23, 2017 (LBO) – Qatar Airways, an airline faced with a middle-eastern diplomatic row, is looking at a stake in American Airlines, the airline said in a statement. “Qatar Airways sees a strong investment opportunity in American Airlines,” it said. “Qatar Airways believes in American Airlines’ fundamentals and intends to build a passive position in […]
IB Growth Fund to increase share in Amana Bank through Rights Issue
June 23, 2017 (LBO) – Jeddah-based IDB Group’s IB Growth Fund (Labuan) LLP has acquired 1,000 shares in Amana Bank, Thursday at 3.70 rupees each making way for the company to become a shareholder and participate in a Rights Issue later. The Amana bank has already received a commitment from the Islamic Corporation for the Development […]
PM to head committee on UNHRC recommendations
June 22, 2017 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe will head a special committee to oversee implementation of United Nations Human Rights Council recommendations agreed on in 2015. “Cabinet approved to appoint a committee of ministers chaired by the Prime Minister Wickremesinghe together with officials to assist the main committee in this regard,” […]
‘s IFC to sell Sri Lanka rupee bonds
June 22, 2017 (LBO) – Sri Lanka’s government has approved a proposal to establish an offshore Sri Lankan Rupee (LKR) Bond Programme by the International Finance Corporation, a statement said. The program is beneficial to Sri Lanka, and the Cabinet Committee on Economic Management has recommended its implementation, the most recently approved cabinet decisions statement […]