Author: lbostgadmin
Galaxy Note9 now available for pre-order in Sri Lanka
(Press release) – Samsung today opened pre-bookings for its flagship Galaxy Note9 smartphone in Sri Lanka. The latest addition to its premium Note series was launched globally in New York on August 09. The pre-book offer in Sri Lanka comes with an exciting deal, along with being one of the first to own the Note9, […]
Singapore-SL FTA revenue protection not yet gazetted but published by Treasury
Aug 16, 2018 (LBO) – Department of Trade & Investment Policy has not yet published the extraordinary gazette pertaining to the revenue protection order which deals with the preferential rates applicable to the Singapore – Sri Lanka Free Trade Agreement. A preferential rate is leviable and payable under the Singapore – Sri Lanka Free Trade […]
UK helps Sri Lanka to resettle 2,500 people in recently released lands in North & East
Aug 16, 2018 (LBO) – United Nations Development Programme in Sri Lanka recently entered into a partnership agreement with the UK to extend support for a sustainable resettlement project.The 1.3 million US dollars worth project will directly support more than 2,500 people returning to their lands recently released in Jaffna, Kilinochchi, Mullaitivu and Batticaloa Districts.The […]
Pradeep Moraes re-elected as Chairman of Condominium Developers Association
Aug 16, 2018 (LBO) – The Condominium Developers Association of Sri Lanka (CDASL), has announced the appointment of new office bearers and members of the executive committee for 2018-19. Pradeep Moraes, Director of Indocean Developers (Pvt) Ltd., has been re-appointed Chairman of the Association, and Sivarajah Thumilan, Group Chairman, Blue Ocean Residencies (Pvt) Ltd and Hemaka […]
‘s HNB Group records PBT of Rs.14.1 Bn in 1H 2018
Aug 16, 2018 (LBO) – HNB Group recorded Rs 14.1 Bn in Profit Before Taxes (PBT) for the first six months of 2018, representing a 30.7% Year-on-Year (YoY) growth over the first half of 2017 while Group Profit After Taxes (PAT) rose 26.9% YoY to Rs 9.6 Bn. At a Bank level, HNB’s PAT improved […]
Commercial Bank continues growth in Q2 to post strong 6-month result
Aug 16, 2018 (LBO) – Commercial Bank of Ceylon PLC has continued its growth momentum into the second quarter of 2018, despite having to pay in excess of Rs 7 billion in taxes and being compelled to make significant provisions for impairment charges for the six months ending 30th June 2018. The Bank has posted profit […]
SriLankan Airlines flights to Cochin Airport suspended due to flooding
Aug 15, 2018 (LBO) – SriLankan Airlines has temporarily suspended flights to and from the South Indian city of Cochin until 18th August, following the closure of Cochin Airport due to flooding in the region.Cochin Airport was closed today (15th August) until 2 p.m. on 18th August due to heavy floods in the area and further […]
Fitch maintains negative banking sector outlook for Sri Lanka in 2018
Aug 15, 2018 (LBO) – Fitch Ratings said it maintains a negative banking sector outlook for Sri Lanka as operating conditions remain challenging, which could put mild pressure on performance during the rest of 2018 and possibly 2019. The performance of Sri Lankan banks under Fitch’s coverage, however, remained fairly stable through 2017 and 1Q18, […]
CB extends suspension of Pan Asia Bank primary dealer activities by 6 months
Aug 15, 2018 (LBO) – Monetary Board has decided to extend the suspension of business and activities of a Primary Dealer of Pan Asia Banking Corporation for a period of six months with effect from today, in order to continue the investigations being conducted by the Central Bank. The Central Bank wishes to emphasize that […]
Hemas Group net profit down 20-pct in 1Q amid high finance cost
Aug 15, 2018 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 554.3 million rupees in the June 2018 quarter, down 20.2 percent from a year earlier, interim accounts showed. The decrease in profit is due to reduced interest income post utilization of cash […]
Special Salaries Commission to remove public sector salary anomalies
Aug 14, 2018 (LBO) – Cabinet approval has been granted to appoint a special salaries commission to remove salary anomalies in the public sector including the Railway Department.The salaries commission will pay its attention and make an in-depth study on the provisions of the existing circulars dealing with payment of salaries and other allowances paid […]
Vienna ranks as most liveable city in 2018 displacing Melbourne
Aug 14, 2018 (LBO) – For the first time in the survey history of Economist Intelligence Unit, Austria’s capital, Vienna, has been ranked as the most liveable city out of 140 cities in the world. A long-running contender to the title, Vienna has succeeded in displacing Melbourne from the top spot, ending a record seven […]