New ADB head pledges to support development in public and private sectors
Feb 25, 2020 (LBO) – The new Asian Development Bank (ADB) Country Director in Sri Lanka, Chen Chen, assumed office in Colombo Monday. “I am honored to …
Sri Lanka headline inflation increased in January
Feb 24, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index has increased to 7.6 …
Central Bank to introduce cost-reflective benchmark interest rate instead of SLIBOR
Feb 24, 2020 (LBO) – The Monetary Board of Sri Lanka’s Central Bank has decided to discontinue the compilation of SLIBOR with effect from 01 July 2020. …
Seylan Bank closes 2019 with Rs3.68Bn profit; crosses Rs500Bn in total assets
In the backdrop of challenging external environment, Seylan Bank recorded a profit after tax of Rs.3.68 Bn for the year ended 31st December 2019. Successful …
SLPA signs consultancy deal to conduct feasibility for Colombo North Port
Feb 24, 2020 (LBO) – Sri Lanka Ports Authority (SLPA) has signed the consultancy service agreement to conduct a feasibility study for the proposed Colombo …
Security structure of APAC cannot be duplicated in Indian Ocean: RW tells India
Feb 24, 2020 (LBO) – The security structure of the Asia Pacific cannot be duplicated in the Indian Ocean as the region has avoided such alliances, unlike the …
Mobitel introduces latest Apple iPad 2 and watch
As the authorized reseller for apple devices ranging from iPhones, iPads, Apple watches, Mobitel is introducing the next generation Apple iPads and Apple Watch …
Commercial Bank profits marginally up in December quarter
Feb 24, 2020 (LBO) – Sri Lanka’s Commercial Bank group reported a net profit of 5.9 billion rupees showing a marginal improvement of equity holder’s …
For Sec Aryasinha meets Human Rights Council President in Geneva
Feb 24, 2020 (LBO) – Ahead of the upcoming 43rd Session of the Human Rights Council (HRC) scheduled to commence next Monday (24 February), Foreign …
Safer roads to add over USD1 Tn to South Asian economies
South Asia’s eastern subregion, comprising Bangladesh, Bhutan, India, and Nepal, needs to invest an estimated extra $118 billion in road safety over the next …
DFCC records Rs.2.8Bn PAT in 2019
DFCC Bank, the largest entity within the group recorded a profit after tax (PAT) of Rs 2,828 million for the year ended December 31, 2019 excluding the fair …
Foreign Ministry ensures welfare of Lankans following COVID-19 concerns in S Korea
Feb 22, 2020 (LBO) – The Ministry of Foreign Relations in coordination with the Sri Lanka Embassy in Seoul has been closely monitoring and coordinating …
Private sector keen to join mobilization of domestic investment for SDGs
For mobilizing domestic investment for the Sustainable Development Goals (SDGs), the Government needs to develop different schemes of blended finance, …
Central Bank responsible for taking legal action on forensic audit: President’s Secretary
Feb 21, 2020 (LBO) – Secretary to the President, P B Jayasundera has informed COPE Chairman and JVP Parliamentarian Sunil Handunnetti that it is the …
VIDEO: Tesla’s bull vs bear debate
Tesla sits at a record high. A stock darling of 2020, tripling since October to more than $900 a share. In a bull vs. bear debate, Bloomberg’s Taylor Riggs …
Pan Asia Bank records its best-ever financial results
Pan Asia Banking Corporation PLC, “the Truly Sri Lankan Bank” ended 2019 Q4 with its best financial results ever, to report a Post Tax Profit of Rs.726.84 …
Mahinda Siriwardana appointed as a Deputy Governor of Central Bank
The Monetary Board, with the concurrence of the Minister of Finance, Economy and Policy Development has appointed Assistant Governor, K M Mahinda Siriwardana …
Sri Lanka to sign MoU with India to develop Jaffna International Airport
Feb 20, 2020 (LBO) – Sri Lanka will enter into a Memorandum of Understanding (MoU) with India to develop the Jaffna International Airport. The proposal made …
Retired Major General Vijitha Ravipriya appointed Director-General of Customs
Feb 20, 2020 (LBO) – Prime Minister has appointed retired Major General Vijitha Ravipriya as the new Director-General of Sri Lanka Customs, the Finance …
Poll: Business impact on Sri Lanka from Novel Coronavirus
By the Economic Intelligence Unit of the Ceylon Chamber of Commerce: The outbreak of the Novel Coronavirus (COVID-19) is having its toll on the global economy …