Author: lbostgadmin
Ceylinco Life’s 9-month net profit up 62-pct to Rs3.28Bn
Nov. 15, 2018 (LBO) – Sri Lanka’s Ceylinco Life has reported profit before tax of 3.734 billion rupees for the period nine months ending 30th September 2018. The life insurance player has reported profit before tax of Rs 3.734 billion for the period, reflecting growth of 48 per cent over the corresponding nine months of […]
Vallibel Finance pre-tax profits grow by 28.2-pct to Rs.1.03Bn
Vallibel Finance PLC returned yet another impressive report card with profits before tax (PBT) for the six months ending September, 2018 reaching a record high of Rs. 1.03 Billion. Acclaimed as one of the most respected finance companies in Sri Lanka, the name-bearer of the Vallibel Group continued its now customary outstanding financial performance with […]
Sri Lanka CB Chief confident of meeting debt repayment targets in 2019
Nov 14, 2018 (LBO) – Political uncertainty will not have an impact on Sri Lanka’s debt repayment preparations for 2019, the Central Bank Governor said. “Despite the uncertainty we have been operating with business as usual, ” Dr. Indrajit Coomaraswamy, Governor, Central Bank told reporters in Colombo, Wednesday. “CB is ready to cover the January 15th […]
Sri Lanka political crisis deepens as Parliament shows no confidence in PM
Nov 14, 2018 (LBO) – Sri Lanka’s Parliament passed a no-confidence motion against newly appointed Prime Minister Mahinda Rajapaksa on Wednesday. After a chaotic Parliamentary vote, the Speaker announced that the majority voted in favor of the no-confidence motion, a claim that the allies of Rajapaksa reject. The Speaker’s office, however, said a copy of […]
Central Bank warns public to be attentive to financial scams/ phishing emails
Nov 14, 2018 (LBO) – The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails/ social media messages. Issuing a statement the bank said it has noticed that the image of the Head Office building, the Logo […]
JVP hands over no-confidence motion against Mahinda Rajapaksa
Nov 14, 2018 (LBO) – The Marxist Janatha Vimukthi Peramuna has handed over a no-confidence motion against Prime Minister Mahinda Rajapaksa.JVP Parliamentarian Vijitha Herath said that the motion has been handed over to Speaker Karu Jayasuriya.The agenda for the day, however, is to be decided by the House itself as party leaders meeting ended without […]
Sri Lanka official reserves at USD7.9bn by end Oct; YTD rupee depreciation 12.9-pct
Nov 14, 2018 (LBO) – Supported by the receipt of the foreign currency term financing facility of 1 billion US dollars by the government, gross official reserves amounted to 7.9 billion US dollars as at end October 2018, providing an import cover of 4.2 months, the Central Bank said. The bank added that the significant […]
Central Bank reduced Statutory Reserve Ratio & increased policy interest rates
Nov 14, 2018 (LBO) – Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 13 November 2018, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.50 percentage points to 6.00 percent. In order to neutralize the impact of this reduction […]
‘t take President’s power to appoint a Prime Minister: Nimal Siripala
Nov 13, 2018 (LBO) – Minister Nimal Siripala de Silva says that the Speaker cannot take the powers of the President and move to appoint a Prime Minister. “Even if he appoints a purported Prime Minister it will be a nullity, that has no force in law,” de Silva said at a special press conference […]
Sri Lanka Parliament will convene tomorrow morning: Speaker
Nov 13, 2018 (LBO) – Speaker Karu Jayasuriya says according to the 2095/50 proclamation issued on 04 November 2018 by the President, the Parliament will be convened at 10 am tomorrow. Meanwhile, the Speaker has called a party leaders meeting tomorrow morning (8.30 am) at the Parliament. Ranil Wickremesinghe says he is ready to demonstrate […]
Commercial Bank weathers external challenges to post strong 9-month results
Sri Lanka’s benchmark private bank, Commercial Bank of Ceylon PLC has demonstrated its resilience in adverse conditions, weathering the twin challenges of high taxes and impairment charges to post a healthy growth in most key performance indicators at the end of the third quarter of 2018. The Bank’s gross income surpassed the Rs 100 billion […]