Author: LBO Admin
Hambantota International Port Expands Bunkering with New HSFO Facilities
Hambantota International Port (HIP) marked a significant milestone in January 2025, by successfully integrating High Sulphur Fuel Oil (HSFO) into its range of bunkering services. Now offering a complete suite of marine fuels, including Very Low Sulphur Fuel Oil (VLSFO) and Marine Gas Oil (MGO/MDO). This development strengthens Sri Lanka’s position in the global maritime […]
VIDEO: Technofeudalism Unveiled – Yanis Varoufakis on the Fall of Capitalism
Former member of the Greek parliament and Minister of Finance Yanis Varoufakis joins host Chris Hedges on this episode of The Chris Hedges Report to explain how capitalism is dead and a new form of capital, the title of his new book, “Technofeudalism,” has arisen and holds power akin to the feudal lords of medieval […]
HNB PLC completes full acquisition of Acuity Partners: Rebrands as HNB Investment Bank
Hatton National Bank PLC (HNB), Sri Lanka’s second largest Private Bank, announced the successful acquisition of full ownership of Acuity Partners (Pvt) Ltd today. With this acquisition, HNB has rebranded the entity as HNB Investment Bank (Pvt) Ltd, further strengthening its position as a key player in the country’s investment banking sector. Acuity Partners was […]
Hemas Group records earnings of Rs. 3 bn, a 36-pct growth for the quarter
The Hemas Group recorded earnings of Rs. 3.0 billion, a 36.3 percent growth in consolidated earnings for the quarter with revenue increasing by 6.4 percent to Rs. 33.2 billion and operating profit increasing by 25.7 percent to Rs. 4.9 billion. Revenue growth was evident across all sectors, as the Group’s businesses leveraged efficiency improvements and […]
‘ National IFS Ratings After Scale Recalibration, Affirms Three
Fitch Ratings has upgraded the National Insurer Financial Strength (IFS) Ratings of four Sri Lankan insurers following the recent sovereign upgrade and recalibration of the agency’s Sri Lankan national rating scale. At the same time, Fitch has affirmed the National IFS of three Sri Lankan insurers. The recalibration reflects changes in the relative creditworthiness of […]
The Technocity Pvt Ltd Expands to Dubai, Bringing Premier IT Solutions to the UAE
The Technocity Pvt Ltd, Sri Lanka’s leading IT distributor, has officially expanded its operations to Dubai, UAE, signalling a significant milestone in its journey of growth and innovation. Established in 1998, Technocity has built a reputation as a trusted distributor for 17 world-class brands including global IT giants such as HP, ASUS MSI and Lenovo. […]
President to undertake a visit to UAE to attend the World Government Summit 2025
President Anura Kumara Disanayaka will undertake a visit to the United Arab Emirates from 10-13 February 2025 at the invitation of President of the UAE Mohamed Bin Zayed Al Nahyan to participate in the World Government Summit 2025. During the visit, President Disanayaka will address the World Government Summit 2025 in Dubai and hold bilateral […]
TISL Challenges Procurement Guidelines and Procurement Manual (2024) in Supreme Court
Transparency International Sri Lanka (TISL) has filed a Fundamental Rights Petition (SCFR/22/2025) in the Supreme Court on Friday, 31st January 2025, challenging the Procurement Guidelines and Procurement Manual (2024) issued by the National Procurement Commission (NPC). This public interest petition raises concerns about the lack of transparency in the new guidelines, which do not adequately […]
India’s top Lube brand Hindustan Petroleum Lubricants arrives in SL with Sea World Lanka
Hindustan Petroleum Lubricants markets more than 450 grades of Lubricants/Greases and caters to many global auto OEMs To offer full range of premium and world class Automotive, Industrial and Marine Lubricants and specialty products Sri Lanka’s lubricants market has been significantly strengthened with the formal entry of HP Lubricants, part of Hindustan Petroleum Corporation Limited […]
ComBank Digital integrates with CSE’s Central Depository System for IPO settlements
The Commercial Bank of Ceylon has announced that ComBank Digital, the Bank’s digital banking platform, is now linked with the Central Depository System (CDS) of the Colombo Stock Exchange (CSE), enabling the Bank’s account holders to make IPO settlements directly from their accounts. Made possible by the integration of the CDS with the LankaPay Government […]
Visa: End-of-Year Tourist Transactions Up by 40% in Sri Lanka This Holiday Season
Surge in card transactions by tourists was driven largely by in-store use of debit cards Domestic debit spends grew by 45% while cross-border debit spends grew by almost 30% Domestic cardholders in Sri Lanka spent 35%+ more than in 2023 Holiday Season, buoyed by increasing penetration of contactless payments Visa (NYSE: V), the global leader […]
Sri Lanka’s DFCC’s Acuity Stake Disposal Yields Limited Capital Boost
Sri Lankan DFCC Bank PLC’s (DFCC, A(lka)/Stable) divestment of its 50% stake in Acuity Partners (Pvt) Limited (APL) is unlikely to result in a material improvement in its regulatory capital ratios or have any impact on its national rating, says Fitch Ratings. We expect the transaction, valued at LKR6.5 billion, to improve DFCC’s capital buffers […]