Sampath Bank named Sri Lanka’s “Most Innovative Bank” for 2nd consecutive year
(PRESS RELEASE) – Sampath Bank was recognized as Sri Lanka’s “Most Innovative Bank” for the second consecutive year at the LankaPay …
Banking and Finance
LOFC, CLC, Brac Lanka Finance propose to list debt & remove equity from CSE
Oct 03, 2018 (LBO) – Commercial Leasing & Finance, LOLC Finance, and Brac Lanka Finance have proposed to list its debt securities and remove all equity …
Govt. expenditure for 2019 Rs.4,376Bn : Budget deficit 4.1-pct
Oct 02, 2018 (LBO) – As per the Appropriation Bill, which was presented to the Cabinet recently by Finance and Media Minister, Mangala Samaraweera, next …
ADB & HNB ink USD20Mn agreement to strengthen microfinance institutions
Oct 01, 2018 (LBO) – Hatton National Bank announced the signing of a new partnership agreement with the Asian Development Bank in order to expand lending and …
Fitch affirms ratings on 9 Sri Lankan banks; outlooks stable
Oct 01, 2018 (LBO) – Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of nine Sri Lanka-based banks and has assigned a stable outlook …
ADB provides USD300Mn for elevated highway
Sept 28, 2018 (LBO) – The Asian Development Bank’s (ADB) has approved a US 300 million dollar loan to help in the construction of about 5.3 kilometers …
Aussie journalist delves into new Macquarie chief Shemara Wikramanayake’s colourful family
September 27, 2018 (LBO) – Australian journalist Aaron Patrick has published a detailed exploration of the Sri Lankan family history of Shemara …
NDB rights issue in question as shares trade below rights issue price of 105
September 26, 2018 (LBO) – The woes of the Colombo Stock Exchange (CSE) threaten to disrupt the capital raising efforts of one of Sri Lanka’s most …
Collapse of rupee and yahapalana govt.’s economic mismanagement: MR
Sept 26, 2018 (LBO) – The Rupee has depreciated steadily against the US Dollar ever since the yahapalana government came into power – a trend which …
“Sri Lanka Socio-Economic Data – 2018”, now available
Sept 24, 2018 (LBO) – “Sri Lanka Socio-Economic Data – 2018”, the annually published data folder of the Central Bank of Sri Lanka, is now available …
Sri Lanka’s rupee hits record lows as Central Bank hold rates
Sept 21, 2018 (LBO) – Sri Lanka’s rupee hit an all time low of 168.65/169.00 to the US dollar at the close of day Thursday down from 167.10 the day …
NTB empowers Sri Lankan expats to become entrepreneurs through workshops in South Korea
(PRESS RELEASE) – South Korea is home to a vibrant community of Sri Lankan expatriates striving to build a better future for their families in Sri Lanka …
Sri Lanka’s CAL facilitates first cross-border share transaction by local investment bank
Sept 19, 2018 (LBO) – Capital Alliance (CAL), recently performed Sri Lanka’s first ever transaction of overseas stocks, a statement said. CAL partnered …
Janashakthi PLC acquires 31-pct stake in Dunamis Capital
Sept 13, 2018 (LBO) – Janashakthi PLC acquired 31.14 percent in Dunamis Capital PLC, Dunamis Capital said in a stock exchange filing. Accordingly, a total of …
MRF launch’s tyre and service centre in Sri Lanka
Sept 12, 2018 (LBO) – Tyre & Service Centre (T&S) is the latest offering in Sri Lanka from MRF – one of the leading global brands.This outlet …
Ishara Nanayakkara resigns from Seylan Bank Board
September 5, 2018 (LBO) – Controlling shareholder of listed Sri Lankan financial giant LOLC, Ishara Nanayakkara has resigned from the Board of Directors …
Moody’s says Sri Lankan banking system outlook is negative
Sept 05, 2018 (LBO) – Moody’s Investors Service says that the outlook for Sri Lanka’s banking system is negative, as the economy remains weak …
Former Combank CEO Jegan Durairatnam joins DFCC as an Independent Non-Executive Director
August 31, 2018 (LBO) – Former CEO of Commercial Bank (COMB) Jegan Durairatnam has been appointed to the Board of Directors of DFCC. He joins the board …
Ashok Pathirage buying controversial NDB shares after 1 year hiatus
August 28, 2018 (LBO) – Softlogic Chairman and CEO Ashok Pathirage has started buying NDB shares in the open market according to a Colombo Stock Exchange …
Financial Intelligence Unit enters into MoU with Insurance Regulatory Commission
Aug 28, 2018 (LBO) – In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) …