Author: lbostgadmin
Asia Securities Chairman Dumith Fernando appointed to Union Assurance (UAL) Board
August 3, 2018 (LBO) – Asia Securities Chairman has been appointed as an Independent Non-Executive Director of CSE listed insurance company Union Assurance (UAL). Profile of Mr. Fernando from Asia Securities website: “Based in Colombo, Mr. Fernando is one of most experienced senior global investment bankers in Sri Lanka, with over two decades in the […]
Ramani Ponnambalam appointed Chairperson of Alliance Finance (ALLI)
August 3, 2018 (LBO) – The Board of Directors of CSE listed Alliance Finance has appointed Non Executive Director Ramani Ponnambalam as Chairperson with effect from July 31st. From Alliance Finance website: Mrs. Ponnambalam “has held several senior management positions in large private sector entities. She served as a Director of McLarens Holdings Ltd. and currently […]
CSE finishes the week lower, turnover continues to be extremely poor
August 3, 2018 (LBO) – Major indices at the Colombo Stock Exchange finished the week lower on extremely low levels of total market turnover. For the week, the ASPI was down .16% while the S&P SL 20 was down 1.1%. Turnover continued at low levels witnessed last week, with average daily total market turnover of […]
Thurunu Diriya grants Rs21mn worth loans for 47 young entrepreneurs to date
“Thurunu diriya” loan scheme, implemented by the Bank of Ceylon (BOC) with the assistance of the Policy Development Office (PDO) of the Prime Minister’s Office, has granted loans worth around 21 million for 47 potential young entrepreneurs up to date. This was revealed by the progress report of this loan scheme issued by the Bank […]
Asanga closes deal; Anilana Hotels (ALHP) gets capital infusion
August 3, 2018 (LBO) – After several delays, Colombo Stock Exchange (CSE) listed Anilana Hotels and Properties (ALHP) has finalised a deal with investor SOMAP for an infusion of capital. According to a CSE filing just released, ALHP has issued 513,443,555 ordinary shares, now amounting to 51% of the total shares outstanding of the company, […]
Sampath Group pre-tax profit exceeds Rs10Bn for first half of 2018
(PRESS RELEASE) – Sampath Bank’s Group pretax profit for the first half of the year exceeded Rs 10.3 Bn (28.2% growth) while Sampath Bank recorded a pre-tax profit of Rs 9.9 Bn for the same period. This registered a YoY growth of 28.1% in comparison to the first half of 2017. Profit after tax of […]
LOLC Finance, Mobitel to offer Digital Loans to customers via mCash
Reinforcing its market leadership and strengthening its partner base, Mobitel has joined hands with LOLC Finance PLC to offer Digital Loans for the first time ever in Sri Lanka via its mCash platform. This initiative is a break-through method of providing a loan via one’s mobile device. Digital Finance Loans is a ground-breaking product for […]
Asia Securities appoints Avancka Herat as Head of Wealth Management
Asia Securities (Pvt) Ltd. announced the appointment of Avancka Herat as Head of Wealth Management, effective August 1, 2018. He will also assume the role of Chief Executive Officer of the firm’s Wealth Management affiliate.An industry veteran of 24 years, Mr. Herat joins the firm from National Asset Management Ltd. (NAMAL) where he served as […]
Ceylon Motor Traders Association says they understand duty increase in small cars
Aug 03, 2018 (LBO) – Ceylon Motor Traders Association (CMTA) on Friday said they understand the Government’s policy decision taken recently to increase excise duties targeting the small motor cars segment. The Association said the excise duty structure that was proposed in the budget 2018 had a favorable differential for small motor cars which is likely […]
‘s Integrated Business Solutions
Aug 03, 2018 (LBO) – Fintek Managed Solutions (Pvt) Limited has announced its acquisition of the Integrated Business Solutions (IBS) unit of Brown and Company PLC. With this acquisition Fintek consolidates its role as the authorized distributor of Sharp office automation products and solutions in Sri Lanka. In a previous release detailing its role as […]
Sri Lanka keeps rates unchanged
Aug 03, 2018 (LBO) – Sri Lanka has decided to keep policy rates unchanged with the aim of stabilising inflation at mid-single digit levels in the medium term, thereby contributing to a high and sustainable growth trajectory of the island economy. “In arriving at its decision, the Board carefully considered the current and expected domestic […]
Finance Min calls for new regulatory body for Microfinance industry
Aug 03, 2018 (LBO) – Sri Lanka’s Finance Minister said that he is proposing the establishment of a new microfinance regulatory authority together with mandatory registration for the companies and amendments to the Act. “This is a national tragedy. It needs to be addressed in layers,” Mangala Samaraweera, Minister of Finance told reporters in Colombo, Thursday […]