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IMF to complete its 4th review on June 1 as SL introduced fuel price formula
May 18, 2018 (LBO) – IMF Communications Department on Thursday announced that their board is scheduled to discuss Sri Lanka’s completion of its fourth review on June 1. At an IMF press briefing held in Washington, Gerry Rice of the communications department told reporters that the fuel pricing mechanism would benefit Sri Lanka and the […]
Janashakthi life business reports Gross Written Premium of Rs.764Mn , YoY growth 8-pct
Janashakthi Insurance PLC (Janashakthi) reported its financial results for the three month period ended 31st March 2018. Janashakthi had divested its General Insurance business earlier in the quarter, generating a substantial profit of Rs. 9.2 billion at a company level during the period under review. A significant portion of the proceeds from the sale […]
Samsung launches Galaxy J7 Duo in Sri Lanka
Samsung Sri Lanka expanded its best-selling range of Galaxy smartphones by introducing Galaxy J7 Duo. Galaxy J is Sri Lanka’s most popular smartphone series, accounting for every second smartphone sold in the country. With Galaxy J7 Duo, the dual camera makes its debut in the J series. The rear camera in Galaxy J7 Duo has […]
Nations Trust Bank – Realizing Dreams
The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out a place for itself in Sri Lanka’s Banking and financial services space. Innovation and a fresh approach have always been the Bank’s most potent tools and […]
Laugfs Gas urges Govt to introduce transparent mechanism for LPG pricing
May 18, 2018 (LBO) – Sri Lanka’s liquid petroleum gas (LPG) prices should be adjusted using a pricing mechanism that is transparent, impartial and fair, Laugfs Gas said issuing a statement. There have been significant changes in the LPG prices in the international market, which has had a detrimental impact on the local LPG industry, it said. […]
SriLankan requests passengers to arrive 3 hrs prior to departure time
Urgent Notice Colombo May 17, 2018: SriLankan Airlines wish to inform all passengers, to arrive at the airport three hours prior to the departure time effective today, 17th May 2018, 12.00pm onwards until further notice.This is to minimize delays that may arise due to ‘work to rule’ trade union action carried out by the Sri […]
Virtusa Corp reported a Q4 2018 revenue of 281.3 million, Up 6.6-pct
(PRESS RELEASE) Fourth quarter fiscal 2018 revenue of $281.3 million, increased 6.6% sequentially and 24.5% year-over-year, inclusive of $5.7 million from the eTouch acquisition. Fourth quarter fiscal 2018 diluted EPS was $0.06 on a GAAP basis, and $0.55 on a non-GAAP basis, up 17% sequentially. Fiscal year 2018 revenue of $1,020.7 million increased 18.9% year-over-year. […]
Distributors smuggle Rs10mn worth fuel on the day prices hiked
May 17, 2018 (LBO) – Ceylon Petroleum Storage Terminal (CPSTL) has incurred a loss of around 10 million rupees on the day fuel prices hiked.Initial investigation has revealed that 52 bowsers from Kolonnawa and 22 bowsers from Muthurajawela terminal have released fuel using the ‘Same Day System’.As per the accepted practice, same day orders should […]
‘s Telecommunication Ministry signs MoU with Microsoft
May 17, 2018 (LBO) – The Telecommunication, Digital Infrastructure and Foreign Employment Ministry signed a Memorandum of Understanding (MoU) with Microsoft in Sri Lanka to provide effective citizen services. The agreement will take us a step closer to the island’s e-Government Policy and plans for digital transformation being realised, Harin Fernando, minister of Telecommunication, Digital Infrastructure and Foreign […]
LKR depreciation unwarranted; Reserves to reach US$ 11Bn by June 2018 :CB
May 17, 2018 (LBO) – The Central Bank of Sri Lanka says the underlying fundamentals do not warrant the current pressure on the Sri Lanka rupee. The rupee closed at 158.20/40 rupees against the US dollar in the spot market Wednesday after hitting a low low of 158.80 rupees earlier in the day. “Gross external […]