Tag: lbo
Nelson Liu appointed Chairman of CICT, Ray Ren becomes CEO
The Board of Directors of Colombo International Container Terminals Ltd. (CICT) has announced that the company’s first Chief Executive Officer Mr Nelson Liu has been appointed Chairman effective 8th March 2016, and that the CEO position has been filled by Chief Operations Officer Mr Ray Ren. The announcement said CICT will be spearheaded by Mr […]
Volvo appoints new importer and distributor in SL
Mar 15, 2016 (LBO) – Volvo, a Sweden based car manufacturer announced Swedish Cars (Pvt) Ltd., an IWS Holdings company, as the importer and distributor of it’s vehicles in Sri Lanka. Swedish Cars announced that it is now officially commencing the development of the Volvo Centre Colombo with a completion date set for August 2016. […]
Power officials meet Monday to investigate third island-wide power failure: Minister
Mar 14, 2016 (LBO) – Sri Lanka’s Minister of Power and Renewable Energy said senior power sector officials are to meet Monday morning to investigate two island-wide power failures on Sunday. “It was the third island-wide power failure in six months and we are now investigating it,” Thilak Siyabalapitiya, Minister, Power and Renewable Energy said. […]
Sri Lanka stocks close up 1.5-pct; Continued foreign in-flow
Mar 10, 2016 (LBO) – Sri Lankan stocks closed up 1.46 percent after two consecutive days of losses with gains in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed at 5,862.35, up 85.88 points or 1.46 percent. The S&P SL20 closed 50.54 points at 3,143.46 up 1.63 percent. Turnover […]
Sri Lanka Meagapolis Authority Act to parliament in two months
Mar 09, 2016 (LBO) – The legal act for Sri Lanka government’s hallmark Megapolis development is now drafted and will be presented in parliament soon, a senior official said. “We hope to bring the Megapolis Act to the legislature in the next two months,” Ranjith Fernando, chairman of the Urban Development Authority said. “This act […]
Sri Lanka bought planes instead of building houses: PM
Mar 10, 2016 (LBO) – Sri Lanka’s Prime Minister said on Thursday the nation is plagued with incompetencies of the former regime and the homeless could have been housed with the funds mishandled. “If they (the former government) did not buy those eight planes then we could have built houses for the people,” Premier Ranil […]
LSE to shift Bangalore research facility to Sri Lanka
Mar 09, 2016 (LBO) – The London Stock Exchange (LSE) plans to shift its Bangalore-based research facility to Sri Lanka, a senior official said. “They are shifting from Bangalore to Sri Lanka, and usually it is the reverse that happens. This is a major win for Sri Lanka,” Ranjith Fernando, chairman of the Urban Development […]
Sri Lanka stocks close down 1.2-pct, foreign inflow 602 mln rupees
Mar 09, 2016 (LBO) – Sri Lankan stocks closed down 1.2 percent with continued losses in index heavy stocks following a government announcement to re-introduce Capital Gains Tax on Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 72.37 points at 5,862.35, down 1.22 percent. The S&P SL20 closed 51.93 points at […]
CSE Rings Bell for Gender Equality
The CSE recently joined the Sri Lanka Institute of Directors (SLID), IFC – a member of the World Bank Group, UN Global Compact, UN Women, the World Federation of Exchanges, Women in ETFs and the Sustainable Stock Exchanges (SSE) Initiative to ring the opening bell for gender equality. These bell-ringing events are taking place in […]
Sri Lanka to move prison out of Colombo, shift key buildings
Mar 09, 2016 (LBO) – Sri Lanka’s government is planning to shift key government offices including the Prison, President and Prime Minister’s residences from Colombo and free land for development purposes, chairman of the Urban Development Authority said. “We want to move the Welikada Prison, which has about 50 acres, and it will be shifted […]
Sri Lanka’s Laugfs Gas expands into Dubai
Mar 08, 2016 (LBO) – Sri Lanka’s Laugfs Gas announced the expansion of it’s regional presence with a new business venture in Dubai Multi Commodity Center which commenced operations as a fully-fledged international energy trading business. Named as SLOGAL Energy, this fully owned trading arm of Laugfs Gas commenced operations from Dubai as a international energy […]
Aravinda to Chair new selection committee for Sri Lanka Cricket, Sanga included
Mar 08, 2016 (LBO) – Sri Lanka’s Sports Minister has appointed a new National Cricket Selection Committee with immediate effect following recent failures encountered by the team, a Ministry statement said. The committee will be chaired by Aravinda De Silva while Kumar Sangakkara, Romesh Kaluwitharana, Lalith Kaluperuma and Ranjith Madurasinghe will serve as members. The […]