The Asian Development Bank’s (ADB) Board of Directors has endorsed a country partnership strategy (CPS) for 2018-2022, amounting to up to $1 billion per year, to help Sri Lanka’s transition to an upper middle income country. “In its new CPS, ADB aims to respond flexibly to the evolving demands of the government,” said Sri Widowati,…
Sri Lankan conglomerate LAUGFS Gas has secured US$80mn in debt finance from Standard Chartered, for an LPG terminal in Hambantota. It marks the first private sector financing facility in Sri Lanka to be supported by Sinosure, the Chinese-state insurer. It will be built by China Huanqiu Construction and Engineering Corporation (HQC) and once completed, will…
Reuters – Sri Lankan shares fell for the third straight session on Wednesday, hitting their lowest close in more than four months, as investors sold heavyweights amid continuing uncertainty over a proposed tax reform bill. The Colombo stock index fell 0.19 percent, or 12.05 points, to 6,383.27, its lowest close since April 18. The index…
Facebook appears to have gone down in parts of the UK, leaving thousands of users unable to access their social media accounts. The reason for the crash remains unknown, but 53 per cent of users have reported a total blackout on the site. Facebook is yet to comment on the problem, or provide a fix,…
The cabinet of ministers have approved a proposal made by the Transport & Civil Aviation Minister Nimal Siripala de Silva, to award the second contract for the operation of duty free shops for next 05 years, as recommended by the standing Cabinet Appointed Procurement Committee, to Dufry AG of Switzerland.
Kia has topped a USA ranking of global automobile brands assessed for quality, outperforming a prestigious list that includes luxury marques from some of top names in the industry. This is the second successive year that the J. D. Power Initial Quality Study (IQS) has ranked Kia No. 1 on its prestigious ranking. …
Sri Lanka – Indonesia Business Council (SLIBC) which functions under the aegis of the Ceylon Chamber of Commerce held its 24th Annual General Meeting recently, at Movenpick Hotel, Colombo, re-electing Mr. Kalinga Wijesekara, Head of Marketing & Communications, Serendib Flour Mills (Pvt) Ltd. as the President of the SLIBC for a second term for 2017-2018….
A&E, a global leader in premium quality industrial and consumer sewing thread, embroidery thread and technical textiles, announced this month its strategic alliance with CGS, a provider of business applications, enterprise learning and outsourcing services, to improve productivity, quality and employee motivation within manufacturing operations. A&E has long been committed to assisting with the challenges…
Sri Lanka yet again showcased its dominance as the regional hub for telecommunications with Dialog Axiata demonstrating 5G (Generation) Technology for the first time in South Asia, paving the way for next generation wireless connectivity with speeds in excess of 35 Gbps (Gigabits Per Second). The ground-breaking 5G technology capability trial was carried out by…
Licensed Telecommunications Operators announced that all mobile and fixed line subscribers will be granted a 10% bonus usage on Internet Packages/cards as a special gesture to mark the removal of Telco Levy by the Government. Operators in a joint statement said that the removal of the Telco Levy on internet by the government is a…
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