Tag: lbo.lk
Access Engineering buys warehouse -logistics firm for Rs.925Mn
Oct 03, 2019 (LBO) – Access Engineering PLC has bought 100 percent stake of WUS Logistics Ltd. The shares were bought at for 925 million rupees, the company said in a stock exchange filing. “W.U.S. Logistics owns a land of 41.5 acres in Kimbulapitiya to be used for warehousing purposes,” it added.
Sri Lanka tea prices down in first nine months of 2019
Oct 03, 2019 (LBO) – All elevations show a negative variance January-September 2019 compared with January-September 2018 and high growns show the largest deficit of Rs. 63.37 YOY, a report shows. National average for the month of September 2019 totalled Rs. 511.31 compared with Rs. 506.86 of August 2019 showing a marginal increase of Rs. 04.42 month […]
Sri Lanka Govt allows internal flight operation for foreign airlines
Oct 02, 2019 (LBO) – The Sri Lanka govenments cabinet of ministers has given the nod for foreign airlines to operate domestic flights, a statement said. Sri Lanka’s civil aviation authority will issue one year operating licenses to foreign airlines that are interested in flying within Sri Lanka, the state information office said in a […]
Sec Aryasinha on Sri Lanka’s obstacles on peacekeeping contribution to UN
Oct 01, 2019 (LBO) – Sri Lanka’s Foreign Secretary Ravinatha Aryasinha at the 74th UN General Assembly Session, met with Jean-Pierre Lacroix, under secretary general of the United Nations Department of Peace Operations (USSG/UNDPO) in New York to discuss obstacles placed on Sri Lanka’s peacekeeping contribution to the UN. Upon the Foreign Secretary seeking clarification on […]
‘s to become upper-middle-income economy
Sep 27, 2019 (LBO) – Sri Lanka needs to invest in people to unlock its productive potential, a senior official said. “People are the most valuable resource in any country and investing in people is smart economics,” said Idah Z. Pswarayi-Riddihough, World Bank County Director for Nepal, Sri Lanka and Maldives. “Technology and automation are radically changing the very nature of work […]
Salaries of public servants to be increased from Jan 2020: Fin Min
Sep 27, 2019 (LBO) – The monthly salary of all public servants will be increased by a minimum amount of 3000.00 rupees and, a maximum of 24,000.00 rupees per month effective from January 2020, a statement said. The Finance Ministry says the hike is as per the recommendation of the special commission on reviewing salaries […]
Ceylinco Life named one of Sri Lanka’s 10 most admired companies
Sep 27, 2019 (LBO) – Ceylinco Life Insurance was named among the 10 most admired companies in Sri Lanka at the 2019 edition of the International Chamber of Commerce, Sri Lanka (ICCSL) collaboration with the Chartered Institute of Management Accountants (CIMA) awards. The only insurance company in this pantheon of corporate giants, Ceylinco Life was […]
Sri Lanka reserves at USD 8.3bn at end Jul 2019
Sep 26, 2019 (LBO) – Sri Lanka’s gross official reserves stood at US 8.3 billion dollars by end July 2019, equivalent to 4.9 months of imports, the Central Bank said. Total foreign assets, which consist of gross official reserves and foreign assets of the banking sector amounted to US 11.0 billion dollars as at end […]
Sri Lanka trade deficit widens in July; export earnings decline
Sep 26, 2019 (LBO) – The trade deficit widened in July 2019 as exports fell more than the decline in imports, new data shows. Export earnings recorded a decline of 7.0 percent (year-on-year) after a steady growth for several months while import expenditure declined by 2.2 percent (year-on-year) in July 2019, data from the Central […]
International expert calls for policy recalibration to support property development
Sep 25, 2019 (LBO) – The future of Sri Lanka’s economic development hinges on how domestic policies towards real estate evolve, particularly with respect to supporting the massive demand for vertical living in Colombo and its suburbs, an international expert said. Malayasin property expert Michael Yam said that he sees major emerging opportunities in Sri […]
Ceylon Chamber’s ‘Future of Business’ event to help reimagine future of work
Reimagining the future of work, will be the focus of the Ceylon Chamber’s third consecutive ‘Future of Business’ innovation strategy and learning event. This is ideal for leading Sri Lankan companies, SMEs and family owned businesses to gain unique and practical insights that can transform their businesses. The event will be a platform to learn […]
Youth leaders pressure governments and business for climate emergency
Sep 24, 2019 (LBO) – Youth leaders vowed continued pressure on governments and business for urgent action to address climate emergency at UN Youth Climate Summit Following massive rallies around the world for climate action. A day after thousands of young people marched and rallied for urgent climate action, young leaders brought their message to […]