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CBSL intends to cut ownership limits of LFCs to 25-pct; invites stakeholder inputs
May 22, 2019 (LBO) – Sri Lanka’s Central Bank invites stakeholders to submit observations on the drafted master plan that intends to introduce ownership limits to the Licensed Finance Companies (LFCs). The Department of Supervision of Non-Bank Financial Institutions (DSNBFI) is in the process of introducing ownership limits for LFCs to strengthen the corporate governance […]
CA Sri Lanka Techno Fair 2019 to unveil digital technologies for businesses
With the onset of the fourth industrial revolution, and with businesses increasingly embracing technology to become more efficient and sustainable, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has organized a ‘Techno Fair’ to introduce the latest digital products and services available for businesses and finance partners. CA Sri Lanka Techno Fair […]
Hayleys revenue up 34-pct YoY to Rs.219Bn in FY 18/19
May 22, 2019 (LBO) – Sri Lanka’s Hayleys PLC, group revenue expanded by 34 percent yoy to 219 billion rupees while operating profit before interest increased by 40 percent yoy to 15.9 billion rupees in the financial year ended 31st March 2019 (FY18/19). The group earnings before interest, tax, depreciation and amortization (EBITDA) for FY […]
‘s Colombo port, countering China
May 21, 2019 (LBO) – Sri Lanka has agreed to jointly develop a container terminal at the Port of Colombo with Japan and India, countering China’s expanding Indian Ocean presence, foreign media reported. According to the Nikkei Asian Review, a memorandum of understanding will be signed in the coming months for the east container terminal […]
‘s private sector took a Pledge for Unity
May 21, 2019 (LBO) – Sri Lanka’s private sector representatives on Tuesday took a Pledge for Unity that they will work towards the goal of uniting people and inspire everyone in the country to do the same. The pledge was taken in all three languages by over 300 corporates who assembled for that purpose at […]
Ceylinco Life investment income grows by 16-pct to Rs.2.9Bn in Q1 2019
May 21, 2019 (LBO) – Steady growth of its life insurance business and strong investment gains have enabled Ceylinco Life to generate total income of 7.17 billion rupees in the first quarter of 2019, achieving healthy growth of 10.7 percent over the corresponding three months of last year. The life insurer has reported that premium […]
JVP hands over motion of no confidence against Sri Lanka government
May 21, 2019 (LBO) – Janatha Vimukthi Peramuna (JVP) handed over a no-confidence motion against the government to the Speaker of the Parliament a short while ago. Speaker’s Office stated that the JVP handed over the motion to Speaker Karu Jayasuriya at 10 am this morning.
Sri Lanka unemployment up to 4.6-pct in Q4 2018
May 21, 2019 (LBO) – The number of unemployed persons is estimated as 389,406 during the fourth quarter 2018 or 4.6 percent, up from 4.0 percent a year ago, data from the Department of Census and Statistics (DCS) shows. During fourth quarter of 2018, the total number of employed persons in Sri Lanka is estimated […]
Republican administration in the United States helped Sri Lanka during war: MR
Tenth anniversary of a Sri Lankan victory (Translation of the text of a speech made by Opposition Leader Mahinda Rajapaka at his official residence on Wijerama Mawatha to mark the tenth anniversary of the defeat of the LTTE.) Venerable members of the Maha Sangha, clergymen of all other religions, citizens of Sri Lanka and friends, […]
Sri Lanka official reserves fall to USD 7.2bn by end April; YTD rupee appreciation 3.7-pct
May 18, 2019 (LBO) – Sri Lanka’s gross official reserves were 7,212.7 million US dollars by the end of April, down from 7,621.9 million US dollars in March, latest Central Bank data showed. By the end of April, foreign currency reserves were 6,325.2 million dollars while the reserve position in the IMF was 66.3 million […]