Author: lbostgadmin
Piramal Glass Ceylon reports Rs.1,585Mn in revenue for FY Q1 2019/20
Aug 07, 2019 (LBO) – Piramal Glass Ceylon PLC has reported 1,585 million rupees revenue and 21 million rupees, profit after tax for the 1st quarter of FY 2019-20. The quarter under review saw the completion of the capacity enhancement project, which was undertaken by the Company in F17. The company installed a new bottle […]
ICTA launches national IT-BPM workforce survey 2019
Aug 07, 2019 (LBO) – A new IT-BPM survey reveals the overall strength of the sector’s workforce has grown from 82,854 in 2014 to 124,873 in 2018, up 50.7 percent and is projected to leap further to 146,089 in 2019. Information and Communication Technology Agency of Sri Lanka (ICTA) initiated a national workforce survey by […]
John Keells renews commitment to maintain Slave Island Railway Station
John Keells Holdings PLC (JKH) renewed its 16-year public private partnership with Sri Lanka Railways for the refurbishment and maintenance of the Slave Island Railway Station. A renewal Agreement in this regard was signed on 29th July 2019 between General Manager, Sri Lanka Railways, Mr. M.J. D. Fernando, and JKH represented by Mr. Gihan Cooray, […]
Dushni Weerakoon appointed as member of Monetary Board
Dr (Ms) Dushni Weerakoon has been appointed as a member of the Monetary Board of the Central Bank of Sri Lanka with effect from July 29, 2019. Dr (Ms) Dushni Weerakoon is the Executive Director of the Institute of Policy Studies of Sri Lanka (IPS) and Head of its Macroeconomic Policy research. She joined the […]
Overseas Realty revenue up 43-pct for six months ended Jun 30 2019
Aug 06, 2019 (LBO) – Overseas Realty (Ceylon) PLC recorded a group revenue of 3,726 million rupees for six months ended June 30, 2019, an increase of 43 percent over the corresponding period of last year. The Group Profit After Tax increased by 5 percent to 2,279 million rupees. The Company Revenue of 1,192 million […]
Opinion: The Politicisation of Inflation
By Prince of Kandy Sri Lanka is currently in the process of amending its monetary policy. We are moving towards an inflation-targeting central bank. The proposed new law is at the stage where the dinosaurs in parliament oppose it on grounds of tradition [1]. Quoting from the referenced link; The requirement that a particular policy […]
”; outlook stable
Fitch Ratings Lanka has affirmed Sri Lanka-based National Insurance Trust Fund Board’s (NITF) National Insurer Financial Strength (IFS) Rating at ‘AA-(lka)’. The Outlook is Stable. The affirmation reflects NITF’s ‘Favourable’ business profile, meaningful recovery in its financial performance, satisfactory regulatory capital position as well as its conservative investment mix. These positives are somewhat counterbalanced by […]
Ceylon Chamber announces Sri Lanka investment and business conclave 2019
The Ceylon Chamber of Commerce in association with the Ministry of Development Strategies and International Trade, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Commerce, Board of Investment of Sri Lanka, the Department of Commerce and the Sri Lanka Export Development Board will be organizing Sri Lanka Investment and Business Conclave 2019 […]
UNP coalition announcement delayed till end August : Ranil
Aug 06, 2019 (LBO) – Prime Minister Ranil Wickremesinghe said the postponement of the formation of the Democratic National Front (DNF) was temporary and that it will be done towards the end of August. Issing a formal statement the PM reiterated that the amendment to the coalition’s constitution had been presented after the UNP Working […]
‘s insurance industry records 5.7-pct growth in Q1 of 2019
Aug 06, 2019 (LBO) – The insurance industry reported a growth of 5.70 percent in terms of overall gross written premium (GWP), during the first quarter of 2019, recording an increase of 2,504 million rupees when compared to the same period in the year 2018, the Insurance Regulatory Commission of Sri Lanka said in a […]
No change in 15-pct interest to Senior Citizens’ Savings Accounts: Finance Ministry
Aug 05, 2019 (LBO) – Although the Central Bank has reduced the rates for deposits maintained in commercial banks, the special interest rate of 15 percent offered by the Government for senior citizens have not been changed. “There is no truth in the media reports published by different media saying that the 15% special bank […]
SriLankan welcomes free visa on arrival facility to 48 countries
Aug 05, 2019 (LBO) – SriLankan Airlines welcomes the launch of the free visa on arrival facility that the Government of Sri Lanka is providing to citizens of 48 countries in Australasia, Europe and North America from 1st August for a period of six months as part of a concerted effort to boost tourism into […]