Tag: lbo
President advises to conclude surveying of land units
Feb 12, 2020 (LBO) – President Gotabaya Rajapaksa advised to expedite the surveying of the land units during a discussion at the Presidential Secretariat today(10). President Rajapaksa stated that the government has identified a total of 14mn land units and during the last 20 years 10% of it has been surveyed. President added that he […]
HNB Finance first IPO since January 2018
HNB Finance Limited, a licensed finance company has obtained approval from the Colombo Stock Exchange to list its voting and non-voting ordinary shares. The ordinary voting shares will be listed by way of an IPO via an Offer for Sale of 10mn shares at a price of Rs. 5.70 per share while the ordinary non-voting […]
ICRA : Recent developments in power sec credit positive for mini-hydros
ICRA Lanka views recent developments in the hydro power sector to be credit positive. We based our assessment on three factors, (1) availability of sufficient water flows (run off river flow) due to favourable weather conditions that prevailed last year, (2) the Ceylon Electricity Board’s (CEB’s) decision to renew Power Purchase Agreements (PPAs) with hydro […]
Land an investment tool: Creates greater appeal for affluent
Land has been a commodity that has been looked upon as an investment for generations. The general understanding is to obtain land for housing or commercial purposes. However, land purely as a tool of investment has increasingly become an area of interest. The annual increment of land value every year is stipulated to be around […]
Opinion: Measuring poverty within Sri Lanka’s new reality as upper-middle-income country
Wimal Nanayakkara Sri Lanka achieved ‘Upper Middle Income Country’ (UMIC) status in July 2019, as the country’s Gross National Income (GNI) increased from USD 3,840 per capita in 2018 to USD 4,060 per capita in 2019. World Bank’s (WB) new threshold for UMICs is USD 3,996 – USD 12,375 GNI per capita. Sri Lanka scraped […]
Mobitel & Thuru’s reforestation project shortlisted at GSMA Global Mobile Awards 2020
Mobitel and Thuru’s joint project – ‘Reforestation through Technology’ – has been shortlisted for the ‘Best Mobile Innovation for Climate Action award’ at GSMA Global Mobile Awards 2020, popularly known as the GLOMO Awards, scheduled to be held in Barcelona in February 2020, where winners will be announced. This recognition is yet another feather in the cap […]
SriLankan Airlines temporary reduces flights to China
Feb 06, 2020 (LBO) – SriLankan Airlines is rationalizing its services to China in accordance with current market conditions as per its long-held commercial policies, with a temporary reduction of frequencies to several cities. This is to better reflect present passenger demand in the wake of a significant reduction in the number of Chinese travelers […]
Sri Lankan Airlines corruption scandal reveals need for deeper structural reform in SoEs : Advocata
Weak governance has led to large scale corruption in state enterprises. Sri Lankan airlines has made Rs. 169 billion in losses since nationalisation in 2009. It has recently been revealed that Airbus SE paid the wife of a Sri Lankan Airlines Executive US$ 2 million, out of a US$ 16 million bribe over a large […]
Sri Lanka can boost its development tapping agriculture and new technology : WB
Feb 05, 2020 (LBO) – The World Bank reaffirmed its continued support to Sri Lanka’s growth and development for the benefit of all its people, as World Bank Vice President for South Asia, Hartwig Schafer concluded a four-day visit. During his visit, Schafer gained a better understanding of the country’s development priorities under the new government and how the World […]
Crysbro energises sustainable farming practices with solar power
Feb 03, 2020 (LBO) – In a major step in its continual efforts to embrace sustainable farming practices across all layers of its operations, leading Sri Lankan poultry producer Crysbro successfully completed the installation of a mega solar power generation system at its Galgamuwa Farm. This latest development saw Crysbro install nearly 1,200 solar panels […]
President orders full probe into allegations over Airbus deal
Feb 03, 2020 (LBO) – President Gotabaya Rajapaksa has ordered a comprehensive investigation into reports of allegations over financial irregularities said to have committed during the deal between SriLankan Airlines and Airbus SE for the purchase of aircrafts. An English language weekly and few websites have published reports describing alleged misdeeds relating to the transaction […]
Coronavirus death toll upto 213 : WHO calls it global virus emergency
Jan 31, 2020 (LBO) – The World Health Organization said the virus represents a risk outside of China and is calling it a global virus emergency. The death toll in China had climbed to 213 by Friday with nearly 10,000 infections, according to foreign media reports. Global outbreak includes 98 cases in 18 countries […]