Author: lbostgadmin
Virtusa acquires majority interest in Polaris Consulting
Mar 07, 2016 (LBO) – Virtusa Corporation announced that its India subsidiary has acquired all of the outstanding shares of Polaris Consulting and Services held by Arun Jain, founder and chairman of Polaris, the company said in a statement. “Virtusa Corporation announced that its India subsidiary, Virtusa Consulting Services Private Limited, has acquired all of the […]
PTL Watch: Lackluster trading, some foreign selling in bonds
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Sri Lanka stocks close lower 0.06-pct
Mar 04, 2016 (LBO) – Sri Lankan stocks closed lower at 0.06 percent with losses in some index heavy stocks, stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 3.61 points lower at 6,057.22 down 0.06 percent. The S&P SL20 closed 1.60 points lower at 3,204.50 down 0.05 percent. Turnover was 334 […]
Fitch assigns first-time A to Richard Pieris and Company
Fitch Ratings has assigned Sri Lanka-based conglomerate, Richard Pieris & Company PLC (RICH), a National Long-Term ‘A(lka)’ rating. The Rating Outlook is Stable. Fitch has also assigned RICH’s outstanding senior unsecured debentures National Long-Term Ratings of ‘A(lka)’ as they represent senior unsecured obligations of the company and would rank equally with the company’s other senior unsecured debt. RICH’s rating […]
Sri Lanka to withdraw licenses of defunct mini hydro power plants
Mar 04, 2016 (LBO) – Sri Lanka’s Power Ministry is to withdraw licenses of mini hydro power plants that have been non-operational for more than 2 years. Power and Renewable Energy Minister Ranjith Siyambalapitiya said a circular in this regard will be issued soon. “There is an issue with mini hydro power plant licensing. Some […]
AIA Insurance clarifies its position on minimum public float
Mar 04, 2016 (LBO) – AIA Insurance has issued an explanation clarifying its position on minimum public float saying the shortfall is to be rectified complying with the relevant listing rules. Existing public holding of the company is 2.84 percent as at the end of last year. 1,794 public shareholders of the company represent 874,435 […]
Sri Lanka tourism earnings up 23-pct; CSE net inflows down 97-pct in 2015
Mar 04, 2016 (LBO) – Sri Lanka’s earnings from tourism has increased significantly in 2015 recording a 22.6 percent increase against the previous year. In the twelve months to December, Sri Lanka has earned 2,980.7 million US dollars from tourism while earning 2,431.1 million US dollars in 2014. Workers’ remittances recorded a marginal decline of […]
Sri Lanka’s first attempt to conquer Everest
Set to make history for the country, JayanthiKuru-Utumpala and Johann Peries will be the first Sri Lankans to attempt the 8,488m climb to the summit of Mount Everest, inApril 2016. The duo will take Sri Lanka to the top of the world alongside a team led by the International Mountain Guides (IMG), a globally renowned […]
Sri Lanka exports, imports declines; trade gap widens in December 2015
Mar 04, 2016 (LBO) – Sri Lanka’s exports fell 18.7 percent to 817.5 million US dollars in December 2015 from a year earlier while imports fell at a slower 8.5 percent to 1,644.7 million US dollars, official data showed. The trade gap widens 4.4 percent to 827.3 million US dollars from a year earlier. On […]
‘s largest integrated tourism group CEO visits Heritance Negombo
TUI Group CEO Fritz Joussen accompanied by other TUI top-level executives visited Heritance Negombo on Thursday. The 139-room hotel is the latest hotel investment by Aitken Spence in Sri Lanka, which is to open in April 2016. The high profile team from TUI, the world’s largest integrated tourism group, included the CEO of TUI Germany, […]
Sri Lanka to build elevated highway network in Colombo
Mar 03, 2016 (LBO) – The cabinet nod has been given to construct an elevated highways network in Colombo to reduce the traffic congestion and to build the road connectivity suburbs and expressways. It has been proposed to construct a road of 6.9 km long with 4 lanes from New Kelani Bridge to Rajagiriya. It […]