Author: lbostgadmin
DIMO’s new identity and way forward
(Press Release) – Reposition DIMO inside-out, to grow competitively and profitably considering the challenges of the future. Brand DIMO crosses the big 80-year milestone this year. With every decade DIMO has improved lifestyles of Sri Lankans through multiple interactions. It is a fitting moment to reflect on our successes and strengths but also regroup, to […]
Market Research Society of Sri Lanka to introduce new socio-economic measure
Aug 05, 2019 (LBO) – The Market Research Society of Sri Lanka will be introducing its new SEC (socio-economic) measure, which takes into account a 3rd dimension, which is a lifestyle indicator. The new SEC classification will be launched at the event organised on 13th of August 2019 at JAIC Hilton, Colombo targeting the business […]
Sri Lanka targets Rs.130Bn excise revenue in 2019; So far 24,150 raids conducted
Aug 05, 2019 (LBO) – The Excise Department has conducted 24,150 raids throughout the country during the first six months of this year under its program to minimize life risks through the elimination of illicit liquor. These raids have been carried out under the charges of brewing illicit liquor, possession of such liquor, possession of […]
Interblocks acquired by Hitachi-Omron
Aug 05, 2019 (LBO) – Interblocks, a local fintech that specializes in payment-related software for the financial and retail sectors, has been acquired by Hitachi-Omron Terminal Solutions. It will now operate as a wholly-owned subsidiary. Japan’s Hitachi-Omron Terminal Solutions announced that it had entered into an agreement for the purchase of the entire issued share […]
Dipped Products records turnover of Rs.7.8Bn
Aug 05, 2019 (LBO) – The Dipped Products Group posted 7.8 billion rupees turnover and 221 million rupees profit before tax (PBT) for the first quarter ended 30th June 2019. The hand protection segment posted a growth of 8 percent in turnover amounting to 4.4 billion rupees and contributed 219 million rupees to group PBT. […]
Sri Lankan financial services company implements cloud-based digital strategy
Aug 05, 2019 (LBO) – With operations supported by a range of Microsoft solutions, Capital Alliance Group (CAL) recently featured in a Microsoft client case study (published on their website) highlighting how customers at CAL benefit from a reliable and trusted service, while employees enjoy a highly collaborative and connected workplace with the support of […]
CA Sri Lanka forum highlights need for accountants to lead in eradicating corruption
Aug 02, 2019 (LBO) – The increasingly important role professional accountants including Chartered Accountants can play in eradicating corruption and the culture of impunity was highlighted at a forum jointly organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and South Asian Federation of Accountants (SAFA). Delivering the welcome address, President […]
Teejay reports Q1 net profit growth of 62-pct
Aug 02, 2019 (LBO) – Teejay Lanka PLC has made a strong start to 2019-20, reporting excellent top and bottom line growth at group and company level through efficient capacity utilisation, an improved product mix and effective curbing of non-strategic costs. Sri Lanka’s only multinational textile manufacturer reported group net profit of 453.7 million rupees […]
NDBIB advisor to Rs.2.8 Bn IPO in Maldives
Aug 02, 2019 (LBO) – NDB Investment Bank (NDBIB), acting as the sole financial advisor and manager is executing its 2nd initial public offering (“IPO”) in the Maldives with the launch of the IPO of Maldives Islamic Bank PLC (“MIB”), the first fully fledged Islamic Bank in the Maldives amounting to MVR 244.1million rupees. MIB […]
Federal Reserve cuts interest rates for first time since 2008
Aug 02, 2019 (LBO) – The United States Federal Reserve lowered its benchmark rate by a quarter-point yesterday, its first rate cut since December 2008. The policymaking Federal Open Market Committee drops the target range to 2 percent to 2.25 percent for its overnight lending rate, or 25 basis points from the previous level. The […]
First Capital recommends investors to reduce exposure in low yield bonds
Aug 01, 2019 (LBO) – Sri Lanka’s First Capital recommends investors to reduce overall portfolio exposure to 45 percent from 60 percent. The firm recommends cutting 2021 and 2022 maturities of the carrying portfolio amidst the significant reduction in yields. They also recommended an increase in 2023 and 2024 maturities in the trading portfolio amidst […]
ComBank launches ‘Yasasa’ savings account exclusively for pensioners
The Commercial Bank of Ceylon has launched a savings account exclusively for government pensioners and their widows or widowers, to facilitate access to a host of special benefits the Bank provides to this segment. The ‘Yasasa Pensioners’ Savings Account’entitles pensioners below the age of 69 to apply for an advance of up to 75% on […]