Author: lbostgadmin
LOLC opens trading at the CSE
Lanka ORIX Leasing Company PLC (LOLC) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. Mr. Vajira Kulatilaka, Chairman of CSE speaking at the event stated “We thank the LOLC Group for taking part in this market opening ceremony, which marks the first day of trading for the month of […]
US reiterates support for constitutional reforms in Sri Lanka
Mar 01, 2016 (LBO) – The United States after the first annual US, Sri Lanka Partnership Dialogue held recently in Washington has expressed support for the Government’s plans for constitutional and legislative reforms including public consultations on a new Constitution. Foreign Minister Mangala Samaraweera was in Washington DC on 25 and 26 February for the […]
US calls on Sri Lanka to join Indo-Pacific Economic Corridor
Mar 01, 2016 (LBO) – United States called Sri Lanka to strengthen cooperation on issues of regional importance through multilateral organizations like the Indian Ocean Rim Association. “The United States encouraged Sri Lankan participation in its Indo-Pacific Economic Corridor initiative to increase economic connectivity among South Asian countries and with Southeast Asia, which is congruent […]
The Body Shop launches in Sri Lanka
Mar 01, 2016 (LBO) – The well-known British Cosmetics company, The Body Shop, has finally set foot in our paradise isle. “Gone are the days of relying on friends or relatives visiting from overseas to get our hands on a Body Shop pack. Now we Sri Lankans too can purchase our favourite products whenever necessary,” […]
Huawei Mate 8 and GR5 says ‘Ayubowan’
Huawei together with its national distributor SINGER Sri Lanka introduced two latest flagship smartphones- Huawei Mate 8 and Huawei GR5 to Sri Lanka at a grand spectacle held at the Cinnamon Grand. Over 400 guests were able to experience the ‘Breakthrough in Power and Efficiency’ offered by the new duo smartphones. The Mate 8 available […]
Sri Lanka Customs expedites cargo clearing process
Mar 01, 2016 (LBO) – Sri Lanka Customs has accelerated its cargo clearing service to minimize delays for importers and exporters. As per the new directions, every piece of cargo will be cleared within 3 days unless it has a legal issue or pending investigation. Customs Director General Chulananda Perera told reporters Monday that the […]
Ceylon Chamber appoints Dhara Wijayatilake as CEO
The Ceylon Chamber of Commerce, the country’s premier business Chamber, is pleased to announce the appointment of Ms. Dhara Wijayatilake, Attorney-at-Law, as its new CEO w.e.f. 1st March, 2016. Her appointment to the 176 year old Institution comes following the resignation of Mr. Mangala P. B. Yapa, who served as the CEO of the Ceylon […]
Sri Lanka finds more hidden dues of past regime: Ravi Karunanayake
Mar 01, 2016 (LBO) – Sri Lanka has uncovered more dues of the past regime which will affect public finance, Finance Minister Ravi Karunanayake said. According to Karunanayake, Minister S.B. Dissanayake’s ministry has recently revealed that they have a burden on bills to pay an additional 5,423 million rupees. With this new addition government has […]
” on external debt
Feb 29, 2016 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) one notch to ‘B+’ from ‘BB-‘. A Negative Outlook has been assigned to the IDRs. The issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also downgraded to ‘B+’ from ‘BB-‘. The Country […]
Seylan Bank net profit up 24.4 percent for full year
Feb 29, 2016 (LBO) – Seylan Bank reported a reported a record profit after tax of 3,831 million rupees for the year ended 31st December 2015, up 24.4 percent compared with the previous year, the bank said. Profit before tax increased 24.25 percent to reach 5,777 million rupees for the year. Earnings per share was […]