Tag: lbo.lk
Final report of Presidential Comm of inquiry on SL Customs, handed over to President
The final report of the Presidential Commission of Inquiry into Sri Lanka Customs was handed over to President Gotabaya Rajapaksa by Chairman of the Commission Supreme Court Judge Shiran Gunaratne at the President’s House, in Colombo Wednesday. A six-member Presidential Commission of Inquiry was appointed by an Extraordinary Gazette Notification on February 24, 2021 to […]
Geographical Indication (GI) status for Ceylon Cinnamon attracts Turkish market
The Embassy of Sri Lanka in Turkey initiated a programme to promote Ceylon Cinnamon aggressively in Turkey after obtaining the European Union Geographical Indication status for Ceylon Cinnamon. The Embassy in collaboration with the Sri Lanka Export Development Board organized a networking and briefing session on Sri Lankan Spices, including Ceylon Cinnamon, to major Turkish […]
JKH to raise equivalent of USD 75Mn via unlisted convertible debentures to Fairfax Financial
John Keells Holdings PLC (JKH) announced it will raise the equivalent of USD 75 million of foreign direct investment by way of a private placement of Sri Lankan Rupee (LKR) denominated unlisted convertible debentures (“debentures”) to certain controlled affiliates of Fairfax Financial Holdings Limited, headquartered in Canada (collectively, “Fairfax”). The transaction amounts to a value […]
Flights between China and Sri Lanka to increase
It has been decided to increase the number of flights between China and Sri Lanka. Accordingly, China will operate three flights to Sri Lanka from this week. SriLankan Airlines too offers frequent flights to China. This was revealed by the Chinese Ambassador to Sri Lanka Qi Zhenhong when he paid a courtesy call on President […]
Among IT decision-makers, 85-pct see urgent shift in focus to consumers’ digital experiences: Report
In a survey of 500 IT decision-makers, 85% agree that there is an urgent shift toward focusing on consumers’ digital experiences. Moreover, 73% of respondents say that the move to focus on the digital experience in their own organization was sudden. The survey was conducted for a new report from WSO2, “Reprogramming the Enterprise: Keeping […]
Plans afoot to expedite final stage water supply projects
Plans are afoot to complete the work on large and small scale water supply projects which are in the final stages of construction in order to vest with the public. It was also decided to resolve the issues related to those projects as soon as possible. These were stated at the progress review meeting of […]
Statement from SriLankan Airlines on Flight UL 504
SriLankan Airlines would like to address the reports currently circulating on media about flight UL 504 avoiding a possible mid-air collision with another aircraft. SriLankan Airlines confirms that its pilots operating UL 504, which departed from London to Colombo on 13 June 2022, were able to safely commandeer the flight without an incident. Contrary to […]
MAS Holdings launches Foundation for Change, a non-profit to tackle environmental issues
MAS Holdings, the Sri Lankan based design-to-delivery solutions provider, announced the launch of the ‘MAS Foundation for Change’, an independent non-profit organization aimed at tackling the social and environmental challenges faced due to biodiversity loss, ocean pollution, and lack of access to clean water. The creation of the MAS Foundation for Change is an extension […]
Colombo Port ranked most efficient in South Asia and Indian sub-continent : World Bank and S&P
No. 1 in South Asia/Indian Sub-Continent No. 3 among ports in the Indian Ocean Rim No. 22 among 370 ports Globally The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, 3rd in the Indian Ocean rim and 22nd among 370 ports globally, in the second […]
SL CB reassures commitment to ensuring the availability of forex banking system for essential foods
The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from 20 May 2022, by restricting the use of Open Account Payment Terms or Consignment Account Terms, subject to conditions, when importing goods to Sri Lanka. This measure complements the various other measures […]
JKH recurring EBITDA grows 152-pct to Rs.39.26Bn for 2021/22
The Group witnessed a strong recovery momentum during the year under review with the recurring performance of most of our businesses reaching pre-COVID-19 levels. • Group revenue increased by 71 per cent to Rs.218.07 billion while recurring Group EBITDA increased by 152 per cent to Rs.39.26 billion. The significant growth in profits was driven by […]
Ceylon Chamber call for few more edits to the 21st amendment to the constitution of Sri Lanka
In a letter to the Minister of Justice, Constitutional Affairs and Prison Reform the joint Chambers of Commerce has called for a further strengthening of the 21st amendment through a few more amendments necessitated by past learnings and current context to meet the aspirations of the people, including the business community, who are seeking a […]