Tag: lbo
Huawei launches GR5 2017 Premium in Sri Lanka
(PRESS RELEASE) – Huawei, the leading smartphone brand in Sri Lanka recently introduced the Huawei GR5 2017 Premiumedition to the Sri Lankan public. The new smartphone series showcases a stylish and value packed exterior along with technologically advanced features and functionality. The device optimizes its offerings in the form of a dual-back, professional level camera […]
”s Bank buys PMF land in Colombo
May 24, 2017 (LBO)- People`s Merchant Finance (PMF) had sold its 108-perch property in Colombo 02 to People’s Bank for 1.04 billion rupees in order to help settle debt. “The funds will be used to strengthen the finance company’s core capital in order to meet minimum capital requirements under the finance companies directive no. 01 […]
‘s Commercial Bank offers e-FDs for foreign currency accounts
May 24, 2017 (LBO) – Sri Lanka’s Commercial Bank’s Online Banking platform has been further enhanced with the introduction of electronic fixed deposits (e-FDs) in both local and foreign currencies. The Bank has announced that e-FDs can now be opened from the Bank’s online portal at www.combank.lk “We are aware that there is a lot […]
Dialog paves way for 5G with successful MIMO trial
May 24, 2017 (LBO) – Sri Lanka’s Dialog Telecom said they have successfully completed a trial of next-generation, MIMO (Multiple-Input Multiple-Output) Technology. “In the race to 5G with unprecedented improvements in network throughput and capacity, MIMO is considered the most compelling technology with superior energy and spectral efficiency,” the company said in a statement. “Dialog […]
‘s Lakdhanavi to build power station in Bangladesh
May 23, 2017 (LBO) – Sri Lanka’s Lakdhanavi, the power generation arm of LTL Holdings, has been awarded a contract by Bangladesh Power Development Board (BPDB) to construct a 114 MegaWatt thermal power plant in the country. The award was through international competitive bidding process, the company said a statement. The Company expects to finance […]
Ravi K bids farewell at Finance Ministry
May 23, 2017 (LBO) – Sri Lankan ex- Finance Minister Ravi Karunanayake, who was sworn in as the new foreign affairs minister at the Presidential Secretariat Monday, visited his former ministry to thank officials and personal staff and bid farewell. Minister Ravi Karunanayake thanked all ministry officials and his private staff who assisted him in […]
Online property searches in Colombo up 28-pct in Q1: Lamudi
May 02, 2017 (LBO) – Property portal Lamudi’s real estate market report on Sri Lanka says that there is a 28 percent increase in searches for property in Colombo in the first quarter of 2017 against the same period last year. Between 2014 and 2015, data from Lamudi showed a 20 percent increase in searches […]
John Keells to encourage innovators with Open Innovation Challenge
May 02, 2017 (LBO) – Sri Lanka’s blue chip John Keells Holdings plans to boost local creative and intellectual talent with the launch of its second John Keells X “Open Innovation Challenge 2017” The programme will allow teams of aspiring innovators to compete for a chance to win entry into a six-month accelerator programme at […]
PUCSL discusses environmental concerns with Norochcholai communities
Apr 28, 2017 (LBO) – Sri Lanka’s power regulator said that discussions are ongoing with communities that have raised concerns over the environmental impact of the Norochcholai coal power plant. The discussions come following Supreme Court direction to the Public Utilities Commission, the commission said issuing a statement. “All matters concerning the environmental damage caused […]
Next IMF tranche by June, reserves comfortable by year end: Ravi
Apr 27, 2017 (LBO) – Sri Lanka’s Finance Minister said he was optimistic about talks on reaching a staff level agreement with the International Monetary Fund for the next phase, and that the next tranche would be released by June. “I think the tranche that was due April will come by June, there were some technical difficulties like […]
Higher growth for Sri Lanka will depend on addressing structural issues: CB
Apr 27, 2017 (LBO) – Sri Lanka’s economic performance in 2016 reconfirmed the necessity of addressing deep rooted structural issues, in order to enable the country to progress towards a higher growth trajectory, the Central Bank said. “Along with strengthening macroeconomic fundamentals through improved fiscal performance and the conduct of monetary policy in a forward […]
Rain and fire threatens Meethotamulla, rehabilitation plans in place
Apr 27, 2017 (LBO) – Rains expected in May and an outbreak of fire still remain as threats to the hundreds of tonnes of rotting garbage piled up near Sri Lanka’s capital, with rehabilitation of the dump now in progress, a minister said. “What we are doing now is taking measures to control further collapses […]