Tag: lbo.lk
Interview: Sri Lanka gas policy should be included in energy plan
May 16, 2016 (LBO) – Sri Lanka needs a gas policy to be included in its new national energy plan to effectively market its offshore hydrocarbon fields to potential players, a top official said. “The gas policy is essential, as we cannot market the blocks without it,” Saliya Wickramasuriya, director general, Petroleum Resource Development Secretariat […]
Rajagiriya flyover work to commence July 2016: Harsha
May 16, 2016 (LBO) – Work on the proposed Rajagiriya Flyover will commence from July 2016 and be completed by 2018, a senior official said. “It gives me great pleasure to announce that as an interim solution to the total traffic solution in the Megapolis plan, we will soon start work on the Rajagiriya Flyover,” […]
CSE Chairman Chairs 4th SAFE Executive Committee Board Meeting in Mumbai
Mr. Vajira Kulatilaka, the Chairman of the Colombo Stock Exchange (CSE), in his capacity as the Chairman of the South Asian Federation of Exchanges (SAFE) recently chaired the 4thSAFE Executive Committee Board Meeting and Ideas Workshop held in Mumbai. Leaders representing capital markets across South Asia were present at the event to discuss the vision […]
Is request for emergency power a scam? Consumer group asks
May 13, 2016 (LBO) – The National Consumer Network of Sri Lanka (NCNSL) says it is reasonable to suspect the motives behind the need for emergency power in the power sector. “These days, the CEB is trying by various means to obtain 155MW of electricity from new diesel power plants under the pretext that the […]
ODEL joins Burger King at spacious new location in Wattala
The bustling suburb of Wattala was granted bragging rights to a new dimension in fashion and lifestyle retail when ODEL and Burger King came together at one spacious location to offer residents and passers-through better access to some of the global brands represented by the Softlogic Group. The relocation today of the ODEL store […]
‘s GSP+ application
May 12, 2016 (LBO) – Sri Lanka’s government and the EU said the island’s GSP application was discussed at the EU-Sri Lanka Working Group on Trade and Economic Cooperation which met on 11 May 2016 in Brussels. The meeting was co-chaired by Sonali Wijeratne, Director General of Commerce, for Sri Lanka and Peter Berz, Head […]
BoardPAC chosen by Bangladesh’s City Bank to debut corporate governance solution
The award-winning Sri Lanka-developed corporate governance solution BoardPAC has been selected by The City Bank, a leading commercial bank in Bangladesh,as its paperless board meeting & corporate governance solution. The City Bank will be the first bank in Bangladesh to adopt a paperless board communications platform powered by RobiAxiata, a leading mobile phone company in […]
Advance Business Partner led ICT Gateway to link SL ICT firms with Norwegian counterparts – CCC
Under the Ceylon Chamber of Commerce and Advance Business Partner AS of Norway led Sri Lanka – Norway Matchmaking program, Sri Lankan ICT firms now have the opportunity to link up with the Norwegian counterparts to explore global opportunities. Under the latest ‘ICT Gateway’ project Norwegian firms are looking to outsource their work to overseas […]
Commercial Bank Q1 profit before tax up 28-pct to Rs 4.6bn
Commercial Bank of Ceylon PLC has reported profit before VAT and NBT of Rs 5.377 billion for the three months ending 31st March 2016, commencing the year with a robust 27.89% growth, made possible by notable improvements in business volumes and reduced growth in charges. Sri Lanka’s largest private bank’s profit before tax for the […]
China to help upgrade Sri Lankan hospitals, Japanese assistance for coast guard
May 12, 2016 (LBO) – Sri Lanka’s Cabinet has approved to use funds granted China amounting 85 million US dollars to develop the healthcare sector. “The scope of the project is to purchase essential equipment and to construct buildings in selected hospitals including provincial hospitals,” a statement on cabinet approvals said. The .proposal was made […]
Sri Lanka to reform Bankruptcy laws
May 11, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve amending the Companies Act No. 7 of 2007 for introduction of new laws in institutional bankruptcy that suit present day needs. “It has been witnessed that provisions of the Insolvency Ordinance No 24 of 1884 are not sufficient in dealing with issues related […]
Sri Lankan rupee edges down on importer dollar demand
COLOMBO, May 11 (Reuters) – The Sri Lankan rupee was marginally weaker in early trade on Wednesday on importer dollar demand, but its decline was limited as banks sold the greenback to facilitate buying of local government securities by offshore investors, dealers said. Downward pressure on the local currency would likely ease on expected fund […]