Tag: lbo
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 […]
SL presents USD16Bn opportunity for pvt sector to invest in sustainable development: SC Bank
Jan 29, 2020 (LBO) – Opportunity2030: The Standard Chartered SDG Investment Map reveals an almost USD 10 trillion (USD 9.668 trillion) opportunity for private-sector investors across all emerging markets, with Sri Lanka representing USD16.2 billion of that total. The study identifies opportunities for the private sector to contribute to three infrastructure-focused goals between now and […]
Sri Lanka vehicle registration in Dec 2019 subdued
Jan 28, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,057 units in December 2019 marginally up from 2,030 units in November but down from 2,669 units 12 months ago, a new report shows. Data compiled by JB Securities equities research shows in the overall segment Toyota is the market leader with a 64.2 […]
National action committee on Coronavirus meets today
Jan 27, 2020 (LBO) – A committee comprising of 22 highly qualified medical experts appointed by the Health Ministry to prevent the spread of the new Coronavirus in Sri Lanka is due to meet today. The National Action Committee (NAC) was appointed by Health Minister Pavithra Wanniarachchi on the instructions given by President Gotabaya Rajapaksa. […]
Commercial Bank celebrates 100 years of banking in Sri Lanka
Jan 21, 2020 (LBO) – The dreams of the future and the history of the past were interwoven when more than 4,000 staff members from all over Sri Lanka came together in Colombo in January to celebrate the 100th anniversary of the Bank and its forerunners. The staff gathering that united employees of the country’s […]
Port City Colombo successfully achieved 12Mn safe work hours with zero accidents
Jan 20, 2020 (LBO) – Port City Colombo has successfully achieved 12 million safe work hours with zero accidents, according to the ‘2018-2019 Social Responsibility Report’ of Port City Colombo, launched at a ceremony on Monday, 13 January 2020. This is the first Social Responsibility Report released by Port City Colombo of its parent company […]