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 …
Companies
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 …
Shareholders of Morison reject resolution to delist from CSE
Sept 27, 2018 (LBO) – Morison PLC said in a stock exchange filing that their resolution to delist the company from the Colombo Stock Exchange was not adopted …
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 …
Super luxury MV Viking Orion calls at Sri Lanka’s Colombo port
Sept 17, 2018 (LBO) – The super luxury MV Viking Orion made her maiden call at the Port of Colombo last week. MV Viking Orion one of the world’s most …
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 …
Recommendations for positioning Sri Lanka as attractive FDI destination: AMCHAM/STAX
Sept 10, 2018 (LBO) – AMCHAM, in collaboration with STAX, recently launched the 2018 whitepaper ‘FDI Landscape and Investor Sentiment in Sri Lanka’ …
USAID partners with local banks to increase lending for small businesses
Sept 07, 2018 (LBO) – US Agency for International Development (USAID) has partnered with Sri Lankan banks to announce nine million US dollars worth financing …
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 …
Dhammika Perera resigns from Lanka Ceramic Director Board
Sept 05, 2018 (LBO) – Sri Lanka’s business magnate, Dhammika Perera has resigned from the Chairmanship and the Director Board of the Lanka Ceramic PLC with …
Singapore listed Hotel Properties buys Tangalla Bay Hotels for Rs385mn
Aug 30, 2018 (LBO) – Singapore listed hotelier, Hotel Properties Limited (HPL) through an associate company has acquired 94.71 percent stake in Tangalla Bay …
Cotton Collection divests to Softlogic Group
Aug 29, 2018 (LBO) – Sri Lankan fashion retailer, Cotton Collection Ltd. yesterday announced in a statement it has divested for an undisclosed amount …
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) …
Sri Lanka official reserves at USD9.3Bn : Rupee depreciated by 5.0-pct by Aug 2018
Aug 28, 2018 (LBO) – The Central Bank of Sri Lanka said reflecting developments in the domestic and global foreign exchange markets, the Sri Lankan rupee …
Sri Lanka’s Hemas Holdings’ weak 1Q results reflect seasonality: Fitch Ratings
Aug 21, 2018 (LBO) – Fitch Ratings said the weakness in Sri Lanka-based diversified conglomerate Hemas Holdings first-quarter financial results is temporary …
Melstacorp to enter into health care industry in Sri Lanka
Aug 21, 2018 (LBO) – Melstacorp is to enter into the healthcare industry in Sri Lanka shortly through the subsidiaries incorporated to undertake such …
eChannelling launches its digital services at District Hospitals in Sri Lanka
Aug 21, 2018 (LBO) – A Fully-owned subsidiary of Sri Lanka Telecom, e-Channelling PLC recently launched its service at Ampara General Hospital marking it as …
Sri Lanka’s HNB Group records PBT of Rs.14.1 Bn in 1H 2018
Aug 16, 2018 (LBO) – HNB Group recorded Rs 14.1 Bn in Profit Before Taxes (PBT) for the first six months of 2018, representing a 30.7% Year-on-Year (YoY) …
CB extends suspension of Pan Asia Bank primary dealer activities by 6 months
Aug 15, 2018 (LBO) – Monetary Board has decided to extend the suspension of business and activities of a Primary Dealer of Pan Asia Banking Corporation for a …
Hemas Group net profit down 20-pct in 1Q amid high finance cost
Aug 15, 2018 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 554.3 million …