Author: lbostgadmin
Sri Lanka’s HNB net up 73-pct in March 2016 quarter
May 10, 2016 (LBO) – Group profits at Sri Lanka’s Hatton National Bank surged 73 percent to 3.3 billion rupees in the March 2016 quarter amid strong income growth, interim accounts showed. The group reported basic earnings of 8.42 rupees per share for the quarter, up from 4.91 rupees per share from a year earlier. […]
Panama Papers goes online with Sri Lankan companies on list-Updated
May 09, 2016 (LBO) – The International Consortium of Investigative Journalists on Monday released a searchable database of more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore world, and includes information about companies, […]
Sri Lanka corporate leaders raise concerns over ad hoc tax changes
May 09, 2016 (LBO) – Members of the main committee of the Ceylon Chamber of Commerce has observed that consistency in policy should be a top priority of the government in order to build confidence and boost private sector investment. Ceylon Chamber said in a statement that the members of the Committee at its latest […]
KLM to resume flights to Sri Lanka after nearly 20 years
May 09, 2016 (LBO) – KLM Royal Dutch Airlines says it will resume flights to Sri Lanka from October after almost 20 years of staying away due to the conflict in the island. “The first flight to Colombo is scheduled to depart on Monday, 31 October 2016. This marks KLM’s return to Colombo after an […]
PTL Watch: Market subdued ahead of bond auction
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SEC imposes restrictions on Entrust Capital Markets activities
May 09, 2016 (LBO) – Sri Lanka’s securities regulator has imposed several restrictions on Entrust Capital Markets (Pvt) Ltd (ECMPL) following regulatory concerns on the activities of the broker firm. The Securities and Exchange Commission in a letter has directed the firm that client funds are not withdrawn except with the prior written approval of […]
International Waters Conference in Sri Lanka to attract 250 foreign delegates
The 8th Global Environment Facility (GEF) Biennial International Waters Conference (IWC) will be held in Sri Lanka from the 9th to 13th May 2016 with representatives from over 80 countries.. The week-long conference themed Scaling Up Investments from Source to Sea in the Context of Achieving the SDGs, is jointly organized by the GEF, the […]
Czech eyes hydro power, sugar and aviation in Sri Lanka
May 09, 2016 (LBO) – Czech Republic is currently looking for trade and investment opportunities in Sri Lanka, a business delegation headed by Czech Ambassador said. The Board of Investment recently hosted representatives of leading Czech companies including Viktovice Power Engineering, Eldis, Fans, Skoda Doosan Power and Technoexport. Ambassador Milan Hovorka brought to the attention […]
SriLankan Airlines debt up to Rs65bn by March, group loss Rs9bn
May 09, 2016 (LBO) – Sri Lanka’s national airline’s rising debt stood at 64.92 billion rupees at the end of March 2016 against 56.92 billion rupees recorded a year earlier. SriLankan Airlines said in a statement that without ‘one-off’ extraordinary payments related to restructuring activities, the Airline’s Group Loss was 8.9 billion rupees last year, […]
‘ve crossed rubicon in climate change: Chamath Palihapitiya
May 09, 2016 (LBO) – Chamath Palihapitya, the Sri Lankan-born venture capitalist and tech visionary, highlighted several industry trends recently, ranging from Amazon’s valuation to funding fallacies in Silicon Valley. Commenting on climate change, Palihapitiya said humanity had crossed the rubicon, and new technologies will be needed to fix the problem. “Nothing takes away from […]
London swears in first Muslim Mayor
May 09, 2016 (LBO) – The United Kingdoms Labour party candidate Sadiq Khan was sworn in as London’s first Muslim mayor last weekend. Having won 1,310,143 votes, Khan received the largest personal mandate of any politician in UK history. New mayor Khan said he will “put London first” as he looked to move on from the […]
Structures of a nation at war still in place, say UN Rapporteurs
May 09, 2016 (LBO) – Sri Lanka needs to remove many of its war time practices that are still in place that limit freedoms and rights of the populace, a United Nations special rapporteur said in Colombo. “Sri Lanka is at a crucial moment in its history. While the armed conflict has ended after more […]