Tag: lbo.lk
Sri Lankans named in Panama Papers expected in May
Apr. 27, 2016 (LBO) – The International Consortium of Investigative Journalists said they will release on May 9th a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore […]
Fastest population shift in history, opportunity or threat to Asia?
Apr 27, 2016 (LBO) – If countries do not start planning for the rapid Asian demographic change, they will miss out on a unique opportunity to boost growth and investments for the future, a UN report said. The United Nations Development Programme (UNDP) in its latest Regional Human Development Report says that Asia-Pacific countries now […]
Sri Lanka Lotus Tower land deed still not cleared
Apr 26, 2016 (LBO) – The Lotus Tower or Nelum Kuluna’s land is still in dispute and awaiting approval from the Urban Development Authority, a senior official told Lanka Business Online. “We are still waiting for the land issue to be sorted, it needs to be cleared by the Attorney General’s Department and then the […]
A new political culture will be introduced after May 01: President
Apr 26, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena says he will introduce a new political programme in the country after May 01 and take several new political decisions for the betterment of the country and its people. “These decisions will help to prevent the corrupt forces, who used state powers and assets in an […]
‘s emergency power plant request
Apr 25, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission of Sri Lanka (PUCSL) in a letter denied the CEB a request to buy a 55 MW of emergency power plant that was approved by the cabinet. “Although approval was given by cabinet of ministers it was not in line with its least […]
Sri Lanka’s transport reforms lack political will: Kumarage
Apr 22, 2016 (LBO) – Sri Lanka’s politicians should lead from the front and drive much needed transport reforms which have evolved through changes in social and economic conditions, a senior official told LBO. “Vehicles gridlocked in Colombo traffic is something we are all familiar with by now. But what are we doing about it?” Amal […]
Sri Lanka tea sees better demand for high grown small leafs
Apr 20, 2016 (LBO) – Sri Lanka’s tea at auction offerings saw good demand all round with better demand for high grown small leaf teas, Forbes & Walker Tea Brokers said in their latest report. “Consequent to the smaller volume on offer coupled with the absence of an auction last week on account of Sinhala/ Tamil […]
CEB responds to shortcomings pointed out by power regulator
Apr 20, 2016 (LBO) – Sri Lanka’s Ceylon Electricity Board (CEB) has responded to shortcomings pointed out by the Public Utilities Commission of Sri Lanka (PUCSL) after recent island-wide power failures. In a letter dated 28th March, 2016, the CEB has agreed to the recommendations, but does not include a detailed explanation for the island-wide […]
Seylan Bank to sell Rs5bn in listed debt
Apr 20, 2016 (LBO) – Seylan Bank will sell up to five billion rupees in listed debt, the bank said in a statement.buy “The Bank’s board has approved to issue three billion rupees of debt with a further option to sell another two 2 billion rupees,” a stock exchange filing said. The debentures will be issued […]
Commercial Bank Dispenses Rs 21.54 billion in first 14 days of April
The Commercial Bank of Ceylon smashed itsrecords for cash dispensed via the Bank’s automated teller machine (ATM) network over a 14 day period this ‘Avurudu’ season, dispensing a jaw-dropping Rs 21.54 billion between 1stand 14thApril. On four of these 14 days, the 625-terminal network dispensed more than Rs 2 billion a day, with the peak […]
600 graduates of SriLankan Aviation College enter the world of aviation
600 young men and women qualified to embark upon rewarding careers in the international air transport industry at the graduation ceremony of the SriLankan Aviation College, one of Asia’s premier aviation academies, on Thursday (31st March) at the Bandaranaike Memorial International Conference Hall in Colombo. The SriLankan Aviation College is the academy of SriLankan Airlines […]
‘s top 10 FDI hotspots: US think tank
Apr 18, 2016 (LBO) – IHS Global Insight, a United States-based think tank, has listed Sri Lanka as one of the top 10 foreign direct investment (FDI) destinations in Asia. The other Southeast Asian countries projected to be the FDI hot spots in the region, are China, India, Bangladesh, Indonesia, Vietnam, Myanmar, Malaysia, The Philippines and […]