Category:
Sri Lanka stock bellwether JKH trades just Rs30,000 as market turnover dries up
September 6, 2018 (LBO) – The Colombo Stock Exchange had one of its slowest trading days in some time, the day after protests shut down the city. Although the protests were much less disruptive than feared, it still did not inspire people to come back to the stock market. The major indices finished flat, but […]
Asoka Sirisena re-elected President of Sri Lanka Insurance Institute
Sept 06, 2018 (LBO) – Asoka Sirisena,senior deputy general manager, technical of Ceylinco Life Insurance Limited was re-elected as the President for 2018/2019 at the recently held annual general meeting of the Sri Lanka Insurance Institute (SLII). Asoka is a proud product of Maliyadeva Boys College, Kurunegala and counts over 25 years in the Life […]
Fitch assigns Co-operative Insurance first-time BBB+(lka) rating
Fitch Ratings has assigned Sri Lanka-based Co-operative Insurance Company Limited (CICL) a National Insurer Financial Strength (IFS) Rating and National Long-Term Rating of ‘BBB+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The rating reflects the non-life insurer’s modest domestic business profile, supported by its association with co-operative societies, good capitalisation and a somewhat conservative investment […]
Tourist arrivals to Sri Lanka up 5-pct in August with largest source from India
Sept 06, 2018 (LBO) – Tourist arrivals to Sri Lanka were up five percent to 200,359 in August 2018 from a year earlier, official data showed. This month, the largest source market for tourists is from India, followed by China and United Kingdom. Tourism Development Authority said almost 99 percent of tourists traveled by air to […]
Female founders introduce a solution to all parking problems at Disrupt Asia
Park and Pay was crowned the winner of Start-up battle at Disrupt Asia 2018, Sri Lanka’s Premier Start-up Conference and Innovation Festival, which took place on August 11, 2018 at the Trace – Expert City. The event, with participation of experts from different fields, promoted the innovation ecosystem which is a key pillar of Science, […]
”s ban remains in place
September 6, 2018 (LBO) – A five judge bench in India’s Supreme Court has struck down a colonial era ban of gay sex. There has been an explosive reaction to this landmark judgement on twitter, with some prominent politicians also chiming in: A summary of the legal situation in Sri Lanka is copied below from […]
President wants death penalty for those misuse public property, money
Sept 06, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says that even the death penalty should include in the laws against persons who misuse public property and public money.He made these remarks addressing the awards ceremony of the Parliamentary Committee Public Enterprises held at the premises of the Parliament, yesterday.He said that fulfilling the […]
Govt approves global Tourism Development Project; Awards contracts for digital advertising
Sept 06, 2018 (LBO) – Sri Lanka’s Cabinet of ministers have given the go ahead for a Global Level Tourism Development Project to promote tourism, a statement on approved cabinet decisions said. The proposal was put forward by Tourism Minister John Amaratunge. The Government also approved awarding contracts to carry out digital advertising programs to […]
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 […]