Author: lbostgadmin
LB Finance (LFIN) reports profits of Rs1.1bn for the quarter, deposit base grows to Rs75bn
August 2, 2018 (LBO) – Colombo Stock Exchange listed LB Finance (LFIN) reported earnings of Rs1.137bn for the quarter ended June 2018.Profits were up a robust 20% year over year, however sequentially from the march quarter, revenue and profits seem to be flat. Analysts say the lack of sequential profit growth may be deliberate, in […]
Sri Lanka maritime industry players come together to resolve industry issues
Aug 02, 2018 (LBO) – Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also […]
PwC Sri Lanka wins Oracle’s SaaS Partner Appreciation award
PwC Sri Lanka was recently awarded the ‘SaaS Partner Appreciation award’ – South Asian Growing Economies at the Oracle FY19 SaaS Partner Forum, which was held at the Cinnamon Lakeside Colombo. Speaking on the achievement, Channa Manoharan, Advisory Leader/Chief Operating Officer of PwC Sri Lanka said “We are extremely delighted by this important accolade and […]
CSE listed DIMO reports a loss as inventories increase by Rs5bn; stock is cheap but investors pass
August 2, 2018 (LBO) – Colombo Stock Exchange listed DIMO lost Rs54mn in the quarter ended June 2018.The loss comes amid a large build in inventories during the 3 month period. During the quarter, inventories increased from Rs9.5bn, to Rs14.8bn. Payables correspondingly increased from Rs3bn to Rs5bn, and short term debt increased from Rs8.5bn to […]
Huawei seizes second place in global smartphone market in Q2
Aug 02, 2018 (LBO) – Huawei, a fast growing smartphone brand has seized second position in the global smartphone market with a total share of 15.8 percent in the second quarter of 2018 according IDC. Huawei invests into research and development (R&D) and over 10 percent of revenue is invested in R&D every year. According to Huawei’s […]
‘s Belluna launches leisure property in Galle
Aug 02, 2018 (LBO) – Sri Lanka’s Asia Leisure,in partnership with Belluna Co. Ltd, Japan opened its sixth leisure property ‘Le Grand’ in Galle recently. “Asia Leisure is one of the most widely recognized resort brands in the Country and together with Belluna Co. Ltd, Japan we are pleased to add this hotel to our family,” […]
‘s Democratic Republic extends on arrival visa facility to Sri Lankans
The Ministry of Foreign Affairs of the Lao People’s Democratic Republic has confirmed that, with effect from 01 August 2018, Sri Lankan citizens holding valid travel documents could apply for the visa on arrival at the international border checkpoints of the Lao People’s Democratic Republic.Ministry of Foreign Affairs Colombo
Sri Lanka stocks finish down, Bellwether JKH leads market lower
August 1, 2018 (LBO) – The Colombo Stock Exchange finished the trading session lower on the day, with volumes continuing to be light. The major indices both closed lower with the ASPI down.3%, while the S&P SL 20 was down .85% on the session. Foreign selling continued with net foreign sales of approximately US$750,000. Turnover […]
Govt nod to call for bids in Mannar, Cauvery basins for oil exploration
Aug 01, 2018 (LBO) – Sri Lanka’s cabinet of ministers has given the go ahead to call for bid from international companies to explore oil and gas deposits in the north-western Mannar and Cauvery basins, a statement said. Experts have revealed that initial studies on offshore exploration, development and production activities in the two basins have […]
Susantha Ratnayake retires from Ceylon Tobacco Company
Aug 01, 2018 (LBO) – Chairman of the Ceylon Tobacco Company, Susantha Ratnayake has retired from the company with effect from yesterday after the completion of his term of five years as the Chairman and six years as a Non-Executive Independent Director.“During his tenure as a Director and Chairman of the Board, the Company as well […]
‘s Finance Minister raises taxes on small vehicles
Aug 01, 2018 (LBO) – Sri Lanka’s Finance Minister has signed the gazette notification to amend the excise duties of vehicles below 1000cc category with effect from 01 August 2018, the Finance Ministry said.Accordingly, a unit tax of 1.5 million rupees will be taxed for a motor car below 1000cc while a unit tax of 1.25 million rupees will […]
Ceylon Today offers unreserved apology to Kumar Sangakkara
August 1, 2018 (LBO) – Newspaper Ceylon Today has offered an apology to Kumar Sangakkara for misquoting him on a front page article speculating about his presidential ambitions.The episode created a stir on social media, which has been abuzz with speculation on Sangakkara after cricket legend Imran Khan’s party emerged victorious in Pakistan’s general election.The […]