Sri Lanka’s Cabinet approves USD318mn Indian credit line for railway
July 27, 2016 (LBO) – Sri Lanka’s Cabinet has approved the proposed 318 million US dollars Indian credit line for the development of the country's railway …
Industry
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NDBIB wins ‘Sri Lanka’s Best Investment Bank2016’ by Euromoney
(PRESS RELEASE) - NDB Investment Bank, which completed a record breaking year in 2015 raising a mammoth LKR 60 Bn, was awarded ‘Sri Lanka’sBest Investment …
ADB approves USD115mn loan for power sector in Sri Lanka
Jul 27, 2016 (LBO) - The Asian Development Bank (ADB) has approved a loan of 115 million US dollars and 3.8 million in grants to help Sri Lanka achieve 100 …
China special investment zone to create 1mn jobs in Hambantota
Jul 26, 2016 (LBO) – The Chinese government has requested for 15,000 acres of land in Hambantota for a special economic zone that will create around one …
Malik assures ETCA and other FTAs won’t impact local jobs
Jul 26, 2016 (LBO) – Sri Lanka is currently at the formulating stage of Free Trade Agreements with China and Singapore and an “Economic Technology …
Sri Lanka CEB, LECO must keep regulatory accounts from 2017: PUCSL
Jul 26, 2016 (LBO) – Sri Lanka’s Public Utilities Commission (PUCSL) today launched training for regulatory accounts for Ceylon Electricity Board (CEB) and …
Sri Lanka’s Agalawatte employees agree to work with Browns
July 26, 2016 (LBO) – The Joint Employees’ Union for the Protection of Agalawatte Plantations has agreed to work with Browns who purchased 60 percent of …
Textured Jersey profit up 63 pct, eyes growth from acquisitions
July 26, 2016 (LBO) - Textured Jersey, a leading knitted fabric company, said profits after tax grew by 63 percent to reach 2.2 billion rupees in the year to …
Mandatory offer by Brown to purchase Eden Hotels expires
Jul 26, 2016 (LBO) - The mandatory offer made by Browns Hotels and resorts to purchase all the remaining ordinary shares of Eden Hotel Lanka has expired as of …
New Sales head at Altair
Indocean Developers, the promoter of the Altair twin tower high rise, has announced the appointment effective 15th July, of Jay Dias as Head of Sales and …
Maga Engineering to rehabilitate rural roads at Rs13.2bn
Jul 26, 2016 (LBO) - Sri Lanka’s construction firm Maga Engineering was recently awarded the contract to rehabilitate and improve rural roads in four …
Commercial Bank in World’s Top 1000 Banks
The Commercial Bank of Ceylon PLC hasbecome the only Sri Lankan bank to be ranked among the Top 1000 Banks of the World for the sixth year running, setting yet …
Major natural gas reserve found in Indian Ocean: USGS
July 26, 2017 (LBO) - The U.S. Geological Survey (USGS) says it has assisted the Government of India in the discovery of large, highly enriched accumulations …
Sri Lanka to accelerate issue of licenses for micro finance
July 25, 2016 (LBO) – Sri Lanka's Cabinet Committee on Economic Management has decided to accelerate the license issuing process for Micro Finance …
Sri Lanka’s LAUGFS to resume LPG purchases from Iran
July 25, 2016 (LBO) – Sri Lanka’s listed LAUGFS Holdings says the company is planning to resume import of liquefied petroleum gas (LPG) from Iran. online …
Sri Lanka to resume Iran oil imports; USD251mn oil debt to Iran
July 25, 2016 (LBO) – Sri Lanka is planning to resume oil imports from Iran following the removal of anti-Tehran sanctions, Iran’s petroenergy information …
Sri Lanka’s NDB cancels EGM on concerns over required votes
July 25, 2016 (LBO) – Sri Lanka's National Development Bank has cancelled its scheduled extraordinary general meeting on fears that it may not obtain the …
Thailand’s Siam City Cement to acquire Sri Lanka’s Holcim for USD400 Mln
July 25, 2016 (LBO) - Thailand's Siam City Cement Public Company Limited will proceed with an acquisition of 98.95 percent shares in Holcim (Lanka) Limited, …
IFC helps Sampath Bank to provide trade financing for Sri Lankan exporters
IFC, a member of the World Bank Group, is partnering with Sampath Bank PLC to provide trade financing for Sri Lankan exporters to help them access global …
Access Engineering net up 5.1 pct, IPO for SML Frontier planned
July 22, 2016 (LBO) - Sri Lanka's Access Engineering said group net profits grew 5.1 percent to 2.46 billion rupees in the year to March 2016, with the civil …