Tag: lbo
Sri Lankan rupee forwards trade weaker on importer dollar demand
May 26 (Reuters) – Sri Lankan rupee forwards fell on Thursday due to importer dollar demand and amid apprehension the currency would weaken on a possible increase in government spending after the country’s worst natural disaster since 2004, dealers said. The cost of landslides and floods after days of torrential rains will be between $1.5 […]
‘s agriculture to be modernized with World Bank funding
May 26, 2016 (LBO) – Sri Lanka’s cabinet has approved implementation of a five-year Agriculture Sector Modernization Project with 125 million US dollars granted by the International Development Agency of the World Bank. “It is necessary to implement policies that aim on improving the productivity of agriculture and to create high valued export agriculture for […]
European Union gives Rs.32.8mn for flood, landslide victims in Sri Lanka
May 26, 2016 (LBO) – The European Commission is providing 200,000 Euro (Rs. 32.8 million) in humanitarian funding to assist the most affected populations from floods and landslides in Sri Lanka. This aid will directly benefit 20,000 individuals who have been heavily impacted in five of the worst-hit districts in the country’s West, namely Colombo, Gampaha, […]
Ceylinco Life’s Life Fund crosses Rs 70 billion in 28 years
Ceylinco Life has announced that the company’s Life Fund crossed Rs 70 billion at end April 2016, making it the only local life insurer to achieve the feat in just 28 years. The country’s life insurance market leader said its Life Fund had grown by Rs 2.75 billion in just four months, enabling it to […]
Honesty and good communication skills are top traits for business leader – Regus Finding
Business people across the globe reported which key traits make a successful business leader and reveal that honesty and the ability to communicate with others are the must-haves in a successful leader’s arsenal. Almost 40,000 business people globally rated a number of qualities and traits to help sketch out the portrait of a good leader […]
Sri Lanka’s Islamic Finance sector growing, lacks skilled staff: report
May 26, 2016 (LBO) – Sri Lanka’s Islamic Finance sector continues to grow steadily but lacks staff that are qualified and have technical knowledge, the recently launched Islamic Finance country report 2016 said. “Despite the growth in the number of players, not a great deal of progress has been made in terms of the numbers […]
World Bank Launches Financing Facility to Protect Countries against Pandemics
SENDAI, Japan —The World Bank Group today launched the Pandemic Emergency Financing Facility (PEF), an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk. Japan, which holds the G7 Presidency, committed the first $50 million in funding toward the new initiative. “Pandemics […]
UNDP Partners with the Private Sector to host Sri Lanka’s First National Summit on Foresight and Innovation
Ceylon Biscuits Limited and Holcim Lanka partners to co-finance Sri Lanka’s first National Summit on Foresight and Innovation for Sustainable Human Development. The Summit organized by the United Nations Development Programme (UNDP) and the Ministry of National Policies and Economic Affairs together with many core partners including the United Nations Global Compact Network Ceylon (UNGC) and […]
SriLankan Airlines unveils oneworld priority signage at Colombo and Male Airports
SriLankan Airlines has unveiled oneworld priority signage at its Colombo hub, Bandaranaike International Airport and Male, its extended home market. The new signage aims to provide the alliance’s top tier, frequent flyers a comprehensive and clear idea on the alliance’s benefits throughout the travel process – check-in, airport fast tracks, lounges and boarding.The oneworld priority […]
More rain in Sri Lanka likely, depression turns to storm: Met Dept
May 19, 2016 (LBO) – Sri Lanka’s Met Department says the deep depression in the Bay of Bengal has intensified into a cyclonic storm ‘ROANU’ which is moving away from the island. Nevertheless, an increase of rainfall in parts of the island is likely. “There is a high possibility to sudden increase of rain in […]
Textured Jersey closes 2015/16 on YTD net profit of Rs. 2.1bn, 63-pct growth
May 19, 2016 (LBO) – Sri Lanka’s TJL Group (TJ), a knit fabric manufacturer said its year to date net profit was 2,172 million rupees while the revenue recorded was 17.8 billion rupees, a 30 percent increase. “The boost in profits can be directly attributed to the synergy from acquisitions,stringent cost control initiatives,cutting edge Innovations, and […]
International Waters Conference Concludes in Sri Lanka
The 8th Global Environment Facility Biennial International Waters Conference (IWC) concluded last week with a high level segment by Mr. Karunasena Hettiarachchi, Secretary to the Ministry of Defence, Sri Lanka and Dr. Naoko Ishii, CEO and Chairperson, Global Environment Facility (GEF) followed by a closing plenary. The week-long conference themed ‘Scaling Up Investments from Source to […]