Tag: lbo
Laugfs launches virtual shopping site in Sri Lanka
Jan 25, 2016 (LBO) – Sri Lanka’s Lfinity Pvt Limited, a subsidiary of Laughfs Holdings, announced the launch of a virtual hyper mall, ‘clickNshop.lk’, a statement said. This is the latest e-commerce site for Sri Lankan shoppers and offers a selection of over 2,000 products and services for everyday needs and guaranteed 2-3 day island-wide […]
Sri Lanka’s Norochcholai to add 900MW to national grid
Jan 25, 2016 (LBO) – Sri Lanka’s Minister of Power said the Norochcholai coal power plant will add 900 megawatts of electricity to the national grid this week. “The aim of the plant is to produce 5,300 million watts in 2016,” Ranjith Siyambalapitiya, Minister of Power and Renewable Energy said. The total contribution to the […]
Sri Lanka stocks closed up 1.6-pct
Jan 21, 2016 (LBO) – Sri Lankan stocks closed up 1.59 percent after four days of losses with gains across the board as regional markets were also all in the green, brokers said. The Colombo benchmark All Share Price Index closed higher 99.38 points at 6,360.56 up 1.59 percent. S&P SL20 closed 44.61 points up […]
China eyes more investment opportunities in Sri Lanka: PM (VIDEO)
Jan 21, 2016 (LBO) – Prime Minister Ranil Wickremesinghe said in Switzerland that Sri Lanka is expecting more investments from the China apart from the ongoing infrastructure projects. “Infrastructure alone is not sufficient and we are discussing bringing more Chinese investments,” Wickremesinghe said at a press conference held during the World Economic Forum in progress in […]
Sri Lanka stocks closed down 0.3-pct
Jan 20, 2016 (LBO) – Sri Lankan stocks closed down 0.35 percent for a fourth consecutive session with losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 22.06 points at 6,261.18 down 0.35 percent. S&P SL20 closed 9.91 points down at 3,251.39 down 0.30 percent. Turnover was at […]
Growth in developing economies forecast at 4.3-pct for 2016: IMF
Jan 20, 2016 (LBO) – Growth in emerging market are projected to increase from four percent in 2015 to 4.3 and 4.7 percent in 2016 and 2017, respectively, the latest International Monetary Fund’s global forecast says. “Growth in China is expected to slow to 6.3 percent in 2016 and 6.0 percent in 2017, primarily reflecting […]
People without access to digital technology will be left behind: World bank
Jan 19, 2016 (LBO) – Greater effort must be made to connect more people to the internet and to create an environment that unleashes the benefits of digital technologies, a World Bank report says. The spread of digital technologies over the last two decades has been rapid but the hoped-for benefits of greater productivity, more […]
Sri Lanka’s electricity pricing to be made more transparent: PUCSL
Jan 19, 2016 (LBO) – Sri Lanka’s energy sector will be introducing more transparent electricity tariffs in the future, the Director General of the Public Utilities Commission said. “With the introduction of the regulatory accounting system as well as elaborating more on the submission of data for tariffs we are going to make the electricity […]
‘s Krrish Group’s controversial Colombo project to recommence: BOI
Jan 19, 2016 (LBO) – Sri Lanka’s government is planning to sign a new agreement with India’s Krrish Group to restart its long delayed and controversial project in Colombo, a senior official said. “We are negotiating with Krrish and hope to finalize a new agreement very soon,” Duminda Ariyasinghe, Director General of Sri Lanka’s Board […]
Sri Lanka targets USD5 bn FDI in next three years, Malik to visit China
Jan 18, 2016 (LBO) – Sri Lanka is targeting five billion US dollars worth of foreign direct investments (FDI) in the next three years, Minister of Development Strategies and International Trade said. “We are targeting 5-6 billion US dollars in FDI the next three and I am quite optimistic that we will get there,” Malik […]
Sri Lanka stocks down 1.9-pct; 18 month low
Jan 18, 2016 (LBO) – Sri Lankan stocks closed down 1.89 percent following the negativity in regional markets and local economic concerns with losses in financial sector stocks, brokers said. The Colombo benchmark All Share Price Index closed lower 121.59 points at 6,324.61 down 1.89 percent. S&P SL20 closed 60.08 points down at 3,280.05 down […]
Sri Lanka’s reconciliation process key to its economic success: UK Minister
Jan 14, 2016 (LBO) – Sri Lanka commitment to reconciliation will be a driver of its future economic development, a visiting Minister said. “It is reconciliation that will, I believe, be the bedrock on which Sri Lanka’s future economic success will be built,” Hugo Swire, Minister of State at the Foreign and Commonwealth Office in […]