Tag: lbo.lk
JICA to lend Yen23Bn for water supply project
Nov 17, 2016 (LBO) – The Japan International Cooperation Agency (JICA) signed a loan agreement with the Government to provide a Japanese loan of 23 billion Yen as assistance for the Anuradhapura North Water Supply Project. This project will construct a water supply system in the northern part of Anuradhapura District to provide safe drinking […]
SLT to power Lanka Government Network, LGN 2.0
Nov 17, 2016 (LBO) – Sri Lanka Telecom has been chosen as the total communication service provider and communication infrastructure provider to the Lanka Government Network, in a collaborative move by the national government and the Information and Communication Technology Agency of Sri Lanka (ICTA), a statement said. The LGN is a strategic project produced […]
Dollar edges away from 13-year peak, Asian stocks slip
TOKYO, Nov 17 (Reuters) – The dollar edged away from a 13-year peak on Thursday, following an easing of the week-long surge in Treasury yields that was fuelled by hopes for the Trump administration’s economic policies, and Asian stocks slipped on Wall Street’s overnight dip. The dollar index, which measures the greenback’s strength against […]
Sri Lanka planters warn on land redistribution budget proposals
Nov 16, 2016 (LBO) – The Planters’ Association of Ceylon (PA) said it has serious reservations as to the feasibility and potential impact of recent budget proposals on Sri Lanka’s plantation industry, a statement said. Sri Lanka’s budget 2017 proposed for a reduction in the maximum acreage that can be held by any stand-alone plantation […]
Sri Lanka revenue reform a step toward stronger finances: Fitch
Nov 16, 2016 (LBO) – Sri Lanka’s budget 2017 proposed tax hikes will strengthen the revenue base although some of the revenue assumptions look optimistic and pose risks to projections, the Fitch rating agency said. “Sri Lanka’s budget for 2017 is broadly in line with the targets set out under its IMF programme, and contains […]
Access Engineering PLC opens trading at CSE
(PRESS RELEASE) – Access Engineering PLC (Access)rang the Opening Bell to commence trading at the Colombo Stock Exchange (CSE) today. The Bell Ringing ceremony was organized by the CSE as part of a series featuring companies included on the S&P Sri Lanka 20 Index. Sharing his remarks at the ceremony, Chairman of CSE Mr. Vajira […]
EU-Sri Lanka launch EUR 8mn project for SME trade competitiveness
Nov 16, 2016 (LBO) – The European Union has launched a 8 million euro project that will help Sri Lanka increase its small and medium enterprise trade competitiveness in regional and European markets. “This project has been jointly designed with the Government of Sri Lanka, and brings together policymakers, government agencies, business leaders, chambers of […]
Janashakthi reports Profit Before Tax of Rs.894 million in nine months ended 30th September
(PRESS RELEASE) – Janashakthi Insurance PLC (Janashakthi) reported a consolidated Profit Before Tax (PBT) of Rs.894 million for the nine months ended 30th September 2016, a remarkable growth of 131% over the same period in 2015. Consolidated Gross Written Premiums (GWP), which stood at Rs.9.8 billion at the end of the period in review, […]
Asia shares win reprieve as bond rout pauses for now
TOKYO, Nov 16 (Reuters) – MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent in early trade on Wednesday, bouncing back from a four-month low touched the previous day. Asian shares won the reprieve from a rally in Wall Street shares as the sell-off in global bonds and sharp gains in the […]
Sri Lankan market crowded, Asian telcos under pressure in 2017: Fitch
Nov 15, 2016 (LBO) – Sri Lanka continues to be a crowded market with five operators serving a population of 21 million and set for consolidation, Fitch Ratings said in a statement. “We expect industry consolidation in India, Indonesia and Sri Lanka, as weaker telcos exit the market or seek mergers and acquisition to strengthen […]
Sri Lanka’s e-commerce industry poised to take off: JLL
Nov 15, 2016 (LBO) – Sri Lanka’s online retail industry growing fast due to lack of physical infrastructure like shops and malls, Jones Lang LaSalle, SriLanka said. “Not only do things look good for physical retail in the country but also for online retail,” Gagan Singh, chairperson, JLL, SriLanka said in a statement. “Unlike other countries […]
Capitol Developers launch 50-Storey Skyscraper in Uptown Colombo
(PRESS RELEASE) – Capitol Developers Limited of the Sanken Group held the groundbreaking ceremony of its latest 470 apartment twin tower project – Capitol Twin Peaks on 12 November 2016, at its strategic location at 24, Staple Street, Colombo 02. Hon. Patali Champika Ranawaka – Minister of Megapolis and Western Development graced the event as […]