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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 rupees in the June 2018 quarter, down 20.2 percent from a year earlier, interim accounts showed. The decrease in profit is due to reduced interest income post utilization of cash […]
Special Salaries Commission to remove public sector salary anomalies
Aug 14, 2018 (LBO) – Cabinet approval has been granted to appoint a special salaries commission to remove salary anomalies in the public sector including the Railway Department.The salaries commission will pay its attention and make an in-depth study on the provisions of the existing circulars dealing with payment of salaries and other allowances paid […]
Vienna ranks as most liveable city in 2018 displacing Melbourne
Aug 14, 2018 (LBO) – For the first time in the survey history of Economist Intelligence Unit, Austria’s capital, Vienna, has been ranked as the most liveable city out of 140 cities in the world. A long-running contender to the title, Vienna has succeeded in displacing Melbourne from the top spot, ending a record seven […]
Spending 640,000 rupees for a chair is not a big deal: WPC Chief Minister
Aug 14, 2018 (LBO) – Chief Minister Isura Devapriya says that it is not a big deal to spend 640,000 rupees for a chair in the Western Provincial Council as the council is rich with money. Addressing a gathering Chief Minister said that their newly built provincial council building is a 15-storey building with modern […]
Sri Lanka industrial production index up 0.4-pct in June
Aug 14, 2018 (LBO) – The volume of industrial production has increased by 0.4 percent in the month of June, 2018 compared to the same month in 2017, the Census and Statistics Department said. Among the manufacturing industries; volume of products of ‘Coke and refined petroleum products’ (33.7 percent), ‘Manufacture of fabricated metal products’ (19.1 percent) […]
Janashakthi Insurance PLC reports 6-pct growth (YoY) in June quarter
Aug 14, 2018 (LBO) – Life Insurer Janashakthi Insurance PLC (Janashakthi) reported a 6 percent year on year (YoY) growth in Gross Written Premium (GWP)for the six months ended 30thJune 2018, ending the period under review with premiums of 1.445 billion rupees. Continuing to honour its commitment to policyholders, Janashakthi saw claims grow by 12 […]
Jaffna uniquely positioned for dual-hub IT strategy: STAX
Aug 14, 2018 (LBO) – Sri Lanka’s leading management consulting firm, STAX, recently launched a research report outlining a dual-hub IT strategy for Jaffna. In collaboration with Market Development Facility (MDF), STAX released this report with a view to fostering the region’s substantial potential for IT-related services in line with the national drive to develop […]
Sri Lanka Telecom (SLTL) to issue 90mn shares in private placement, price TBD
August 13, 2018 (LBO) – Trading in shares of Colombo Stock Exchange (CSE) listed Sri Lanka Telecom (SLTL) were halted today pending an announcement of un upcoming private placement. The announcement posted on the CSE website said that: 89,766,198 shares will issued at maximum Shares are expected to be placed with local and foreign institutional […]
” to politics in Sri Lanka
August 13, 2018 (LBO) – Cricket legend and icon Kumar Sangakkara has dashed the hopes of Sri Lankans everywhere by releasing a statement that he will not be entering politics. Instead of merely ruling out the 2020 Presidential election, Sangakarra has dashed all hopes by saying that with “enormous certainty” he will never enter politics […]
Ceylon Tobacco (CTC) pays taxes of Rs63bn, keeps Rs8bn for itself at halfway mark for 2018
August 13, 2018 (LBO) – Colombo Stock Exchange (CSE) listed Ceylon Tobacco (CTC) reported robust earnings for the quarter and six months ended June 30, 2018. CTC earned Rs4.36bn for the quarter, up almost 50% from the previous year. For the 6 months, CTC earned Rs8.1bn, up around 30% from the previous year. The company […]