People Bank directors ready to offer resignations on President’s request – Hemasiri Fernando
October 20, 2018 (LBO) – Hemasiri Fernando, Chairman of Peoples Bank, has said that he and the rest of the board of directors of People’s Bank are …
September quarterly results for Industrial Asphalts (ASPH), Tea Smallholder Factories (TSML)
October 20, 2018 (LBO) – The first quarterly results posted by CSE listed companies for the September quarter have been by Industrial Asphalts (ASPH) and …
Foreign outflows from stocks/bonds Rs7.6bn/week, $ 1bn loan from China to prop reserves
October 20, 2018 (LBO) – Net foreign outflows from Sri Lanka’s stock/bond markets continued at a brisk pace this past week. The government …
Two Sri Lankan Fintech startups win gold & merit at Asia Pacific ICT Alliance awards
The 18th Asia Pacific ICT Alliance (APITCA) awards 2018, which was held in Guangzhou, China from the 10th to 14th October, named DirectPay as the overall …
Fitch publishes Cargills Bank’s first-time ‘BB(lka)’ rating; outlook stable
Fitch has published Sri Lanka-based Cargills Bank Ltd’s (CBL) National Long-Term Rating of ‘BB(lka)’ with a Stable Outlook. KEY RATING …
High Court issues interim order against Dr. Ali Gulamhusein and Malayandi Jeyapragash
October 19, 2018 (LBO) – Colombo Stock Exchange (CSE) listed Ceylon & Foreign Trades (CFT) recently released a disclosure with regard to its legal …
Govt. will support retail sector to make Sri Lanka a regional shopping destination: Fin Min
Oct 19, 2018 (LBO) – Opportunities for the retail sector will continue to expand with Sri Lanka recently crossing the US 4,000 dollar GDP per capita …
AmCham appoints new Board of Directors for 2018/2019
(Press release) – The 26th Annual General Meeting of the American Chamber of Commerce in Sri Lanka (AmCham) was held in September at the Hilton Colombo …
Mangala reveals fuel pricing formula
Oct 18, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Smaraweera reveled to media the recently introduced fuel price formula calculation …
ICRA Lanka upgrades issuer rating of Softlogic Holdings
Rating action ICRA Lanka Limited, subsidiary of ICRA Limited, a group company of Moody’s Investors Service has upgraded the issuer rating of Softlogic …
BOI rejects reports about resignation of its Director General
Oct 18, 2018 (LBO) – Sri Lanka’s Board of Investment on Thursday rejected media reports that its Director General Duminda Ariyasinghe has tendered his …
Sri Lanka to implement tranche 2 of green power development program
Oct 18, 2018 (LBO) – Sri Lanka plans to implement the tranche 2 of the green power development and energy efficiency improvement investment program. The …
Dr. Ali Gulamhusein resigns from People’s Leasing board, amid litigation/floundering listed companies
October 17, 2018 (LBO) – Controversial Colombo Stock Exchange (CSE) investor Dr. Ali Asgar Shabbir Gulamhusein has resigned as an independent …
You’re Fired! – President sacks boards of the BOI, Bank of Ceylon and People’s Bank
October 17, 2018 (LBO) – Media and political sources say the announcement of the dissolution of the boards of directors of the Board of Investment (BOI), …
Sri Lanka secures USD1Bn Foreign Currency Term Financing Facility
Oct 17, 2018 (LBO) – Sri Lanka has secured 1,000 million US dollars from the China Development Bank (CDB) under the Foreign Currency Term Financing Facility …
Foreign Ministry says reports about alleged plot to assassinate President, baseless
Oct 17, 2018 (LBO) – Sri Lanka’s Foreign Ministry on Wednesday afternoon said that the media reports on an alleged involvement of an Indian Intelligence …
Western Union & Sampath Bank offer international money transfer services in Sri Lanka
(PRESS RELEASE) – Western Union, a leader in cross-border, cross-currency money movement and Sampath Bank, one of Sri Lanka’s leading private …
Sri Lanka plans new import controls for non essential goods
Oct 17, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena has instructed the Finance Ministry to study the current imports and submit a report on …
Sri Lanka vehicle registrations down in Sept 2018
Oct 17, 2018 (LBO) – Sri Lanka’s motor car registrations dropped to 4,990 units in September 2018 from 7,003 in the previous month following hike …
Pharma industry withdraws 11 drugs from market: Importing not commercially viable
Oct 17, 2018 (LBO) – The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) in a statement to media said that despite persistent appeals, the …