Author: lbostgadmin
Ishara Nanayakkara resigns from Seylan Bank Board
September 5, 2018 (LBO) – Controlling shareholder of listed Sri Lankan financial giant LOLC, Ishara Nanayakkara has resigned from the Board of Directors of Seylan Bank. Reasons given for the resignation, coming 3 months before his tenure was to expire, were increased business commitments and responsibilities.Nanayakkara is a material shareholder of the bank through LOLC […]
‘s says Sri Lankan banking system outlook is negative
Sept 05, 2018 (LBO) – Moody’s Investors Service says that the outlook for Sri Lanka’s banking system is negative, as the economy remains weak and asset quality is deteriorating. “The economy will only exhibit a modest rebound as the government’s high debt burden and reliance on foreign borrowings continue to limit public investment and pose the risk […]
Dhammika Perera resigns from Lanka Ceramic Director Board
Sept 05, 2018 (LBO) – Sri Lanka’s business magnate, Dhammika Perera has resigned from the Chairmanship and the Director Board of the Lanka Ceramic PLC with effect from 31 August 2018. The company said in a stock exchange filing that its Director Board has accepted the resignation letter tendered by Dhammika Perera.The company said A […]
amanté launches AW’18 collection
Walk in fairy dust and moonlight with amanté’s new collection ‘Starry Tales’, launching this September. Inspired by the dreamy satin textures and ethereal hues of moonlight, this Autumn/Winter 2018 collection from Sri Lanka’s leading designer lingerie brand is in stores now. amanté’s AW’18 is inspired by the night and its ability to bring the mysterious […]
Ronan Keating at Chena Huts by Uga Escapes
While Boyzone’s concert was building hype and highlight around the music enthusiasts of the country, the band member Ronan Keating has decided to enjoy the serenity of the island prior to the big event in Colombo.Ronan Keating has referred to Chena Huts by Uga Escapes as a “little piece of heaven” in his social media […]
PM tweets as JO protest set to begin
September 5, 2018 (LBO) – The Prime Minister of Sri Lanka Ranil Wickremesinghe has tweeted in response to concerns related to the Joint Opposition protests set to begin and go through the night. Organisers claim that 200,000 protestors will descend on the Nation’s commercial capital. This has caused some anxiety among the city’s residents with […]
Asanga Seneviratne selling Anilana Hotels (ALHP) shares
September 5, 2018 (LBO) – Famed stock market operator Asanga Seneviratne is selling some of his shares in CSE listed Anilana Hotels (ALHP).Asanga Seneviratne has on September 4th sold 300,000 shares at a price of Rs1.2/share. This information became public via a CSE disclosure released on September 6th.Initially an erroneous disclosure had said the shares […]
Sri Lanka rupee hits record low
Sept 05, 2018 (LBO) – The Sri Lanka rupee dropped to a new record low of 163.30 rupees against the US dollar Wednesday in mid after-noon trade. The rupee opened weaker at 161.95/162.10 rupees Wednesday while it closed at 161.95/162.00 rupees against the US dollar on Tuesday. Dealers said they has witnessed excess liquidity in money […]
Opinion: A response to article “Pulling back the curtain on privatization of plantation sector”
By Devaka Wickramasuriya I have read with much interest the recent article where Dr. Romesh Bandaranaike has shared his “unique perspective” of Sri Lanka’s plantations. At the outset, I totally disagree with Dr. Bandaranaike’s contention that privatization was necessary as the plantations were the biggest source of political patronage in the country. While some political interference […]
CSE flags irregular trading in shares of MTD Walkers (KAPI)
September 4, 2018 (LBO) – On August 31st, the Colombo Stock Exchange (CSE) has queried listed construction firm MTD Walkers (KAPI) on unusual trading in its shares.In a response to the CSE which was disclosed on the CSE website, the company responds to the CSE by saying that: “We write to confirm that the Company […]
Palm oil industry association launched to advocate sustainable growth in Sri Lanka
Sept 04, 2018 (LBO) – Sri Lanka’s Oil Palm industry has formally inaugurated an industry association under the aegis of the Ceylon Chamber of Commerce to promote common interests and advocate ‘Sustainable Growth through Responsible Production.’ Representing cultivators of oil palm, and refiners, processors, manufacturers, marketers and sellers of palm oil and other products of […]
Sri Lanka BoI targets 35 projects with Rs.46.4Bn in investments in the North
Sept 03, 2018 (LBO) – The Northern Province has benefited from investment as a result of the efforts of the Board of Investment of Sri Lanka. Among the BOI investments there are currently 6 apparel manufacturers which represent an investment of 8,000 million rupees and employ 7,917 workers. Another 15 projects in different sectors are […]