Tag: lbo
New leasing scheme for vehicles comes into effect
Jan 18, 2017 (LBO) – Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for vehicle leasing including three wheelers. “The new circular has slapped additional controls over credit facilities afforded to three wheelers. Under the new leasing regulations the leasing facility offered will be 25 […]
Iconic Galaxy breaks ground, ready for occupation by end 2020
(PRESS RELEASE) – Colombo: January 18 2017: Leading infrastructure and property developer, Iconic Developments Ltd, the developer of Iconic 110 Parliament Road, celebrated the beginning of construction of their latest housing property project, Iconic Galaxy. A ground-breaking ceremony at the site was officiated by the Chief Guest, Minister of Megapolis and Western Development, Hon Patali […]
‘t pay for new electricity connection
Jan 18, 2017 (LBO) – Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, has introduced guidelines for those who are not able to pay the connection charge for a new electricity connection. “Sri Lanka has named year 2017 as the year for eradicating poverty in the country. These guidelines will ensure that […]
Standard Chartered’s “Welcome to the jungle” Global Research Briefing 2017
(PRESS RELEASE) – 18 January 2017, Colombo, Sri Lanka – Standard Chartered’s Global Research Team has included Sri Lanka as part of its Global Research Briefing circuit, and will conduct a closed-door exclusive session entitled “Welcome to the Jungle” for the bank’s clients on Tuesday 24 January 2017. Standard Chartered’s key economic researchers Dave Murray […]
‘ SmartHome system wins Eco-Innovation Award 2016
(PRESS RELEASE) – Innovative Smart Solution’s (iS2), Ape’ SmartHome system creator W.M. Jeremy Fernando was ajudged the winner of the Merrill J. Fernando Eco-Innovation Award 2016 in the Energy Prototype sector at a recently held ceremony. The award was in recognition of outstanding achievement in eco innovation and commitment to the sustainable development and growth […]
‘s industrial output up 4.5-pct in November
Jan 18, 2017 (LBO) – Sri Lanka’s Index for Industrial Production (IIP) shows volume of industrial production rose 4.5 percent in November 2016 when compared with the same period last year, a statement said. According to the island’s Census and Statistics Department, manufacturing of food products is the major contributor at a total industrial value […]
‘s Brexit speech; stocks slip
HONG KONG, Jan 18 (Reuters) – The British pound consolidated gains on Wednesday after posting its biggest rise in nearly two decades in the previous session, while Asian stocks are set to drift lower following a weak Wall Street. Sterling saw its biggest daily rise since at least 1998 on Tuesday as Prime Minister Theresa […]
‘s speech on Brexit stance
TOKYO, Jan 17 (Reuters) – Asian stocks and the pound sagged on Tuesday as investors waited for British Prime Minister Theresa May to lay out plans to exit the European Union, which traders fear will see Britain lose access to the bloc’s single market. Britain will not seek a Brexit deal that leaves it […]
Coca-Cola eyes Sri Lanka for production facility: Fin Min
Jan 17, 2017 (LBO) – International beverage company Coca-Cola has expressed their interest in setting up a production hub in Sri Lanka, the Finance Ministry said in a statement. President of Coca-Cola Asia Pacific John Murphy and Executive Vice President Irial Finan met Finance Minister Ravi Karunanayake and discussed the opportunity of producing some of the Coca-Cola […]
‘s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) – Sri Lanka’s John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, in the area of energy storage materials, the company said in a statement. The patent application filed at an Indian patent office in December 2016 is related to a […]
Hayleys unveils Sri Lanka’s largest capacity solar power plant in Welikande
Jan 16, 2016 (LBO) – Hayleys Group PLC, together with Windforce Pvt Ltd, have commissioned their 10 megawatt solar power plant. Located in Welikande in the Pollonnaruwa District, the solar plant has been installed with a solar tracking system that will follow the sun’s rays to ensure an incrementally higher yield of approximately 20 percent […]
Sri Lanka prepared for power crisis in 2017: Minister
Jan 16, 2017 (LBO) – Sri Lanka’s power minister says that steps have been taken to face the hydro power generation loss due to the record drought in 2016. Nevertheless, consumers are advised to conserve electricity. “We have only 36 percent capacity in our Randenigala, Victoria, Samanala … reservoirs because of the drought and this dry spell is […]