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Hayleys becomes first listed Sri Lankan company to cross USD1bn turnover
Building on a strong momentum gathered over the final quarter of FY 2017/18, Sri Lanka’s leading diversified conglomerate, Hayleys PLC announced a record breaking top-line performance as revenue expanded by 47% Year-on-Year to Rs.163.2 billion during the 12 months to 31st March 2018. Supported by addition of 6 months of operations from its recently acquired […]
Sri Lanka inflation slows to 1.6-pct in April, lowest since Feb 2016
May 22, 2018 (LBO) – Sri Lanka’s headline inflation measured by National Consumer Price Index (NCPI) has decreased to 1.6 percent in April, lowest since February 2016, from 2.8 percent in March 2018. The decline in the year-on-year inflation in April 2018 was mainly driven by the higher base resulted by the increase in prices […]
Johann Peries successfully summits Mount Everest
May 22, 2018 (LBO) – Johann Peries has summited Mount Everest today becoming the second Sri Lankan to summit Everest after Jayanthi Kuru Utumpala in 2016. PR & Media Consultant Kumar de Silva said in a Twitter post that after having summitted Mount Everest at 5.55 AM Nepal time today, Johann Peries has now begun […]
Lord Naseby meets Sri Lankan Diaspora at House of Lords
One of the 1st events representing Sri Lankan Diaspora at the House of Lords Last week, the UK Parliament paid tribute to the Sri Lankan community living in the United Kingdom with the first-ever meeting pertaining to Sri Lanka, one of the most auspicious days in the British calendar last week. For the first time […]
ETI Finance to pay 20-pct of deposit liabilities from USD75mn sale proceeds
May 21, 2018 (LBO) – Monetary Board of the Central Bank has decided to permit ETI Finance (ETIFL) to sell its share holding in subsidiaries and investment properties, for a net amount of 75 million US dollars subject to applicable laws. The Central Bank said the decision has been made based on a proposal submitted […]
‘s Teejay Lanka doubles capacity of India plant with USD15Mn expansion
May 21, 2018 (LBO) – Teejay Lanka, a textile manufacturer said they will be doubling of capacity of its Indian mill, following the completion of an expansion project involving an investment of US 15 million dollars (more than 2.3 billion rupees at current rates). Located within the 1,000-acre Brandix India Apparel City (BIAC) in Vizag, Andrapradesh, […]
Central Bank Governor to meet people in Trinco & review economic issues
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Fitch says Sunshine Holdings new equity issue not enough for ratings upgrade
May 21, 2018 (LBO) – Fitch Ratings says current ratings of Sunshine Holdings will remain unchanged as the projected fall in net leverage from the proposed private placement will be insufficient to trigger an upgrade.Fitch, however, says Sunshine Holdings (A-(lka)/Stable) plan to bring in new equity of 775 million rupees from a private placement of […]
Interactive workshop with Cultural Triangle Hoteliers’ Association
SKAL club of Sri Lanka conducted a Hotel Management Workshop at Amaara Forest Hotel, Sigiriya on 11 th of May, 2018. It was conducted by Mr. Nirmala Nagendra, a member of the executive committee of the SKAL club, is a veteran hotelier with more than 34 years of experience in Finance and Operations in the […]
ADB, Sri Lanka sign USD210Mn loan for Mahaweli water security investment program
May 18, 2018 (LBO) – The Asian Development Bank (ADB) and the Government of Sri Lanka signed a US 210 million dollar second tranche loan agreement for the Mahaweli Water Security Investment Program, the Finace Ministry siad. The programme will assist Sri Lanka complete its on going drive to deliver surplus water from the Mahaweli […]