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Virtusa rolls out ‘Future Architects’ Program
Apr 04, 2016 (LBO) – Virtusa Corporation, a global business consulting and IT outsourcing company, announced the ‘Future Architects’ program with the aim of enhancing the skills of their senior consultants and enabling them to make the transition. The role of a software architect today stretches beyond core technical activities to being a strategic, business oriented consultant, the […]
We have done better than our peers says MD at Sampath Bank
Sampath Bank PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of April. Sampath Bank PLC Chairman Mr. Dhammika Perera, Managing Director Mr. Aravinda Perera, COO Mr. Nanda Fernando, Senior DGM for Consumer Banking […]
Final decision on VAT next week, says State Finance Minister Lakshman Yapa
Apr 01, 2016 (LBO) – The final decision on Value Added Tax will be taken by next Friday, State Finance Minister Lakshman Yapa Abeywardena told LankaBusinessOnline a short while ago. “No decision has been taken yet. It will be decided next Friday,” Abeywardena said. Inland Revenue Department has issued a notice to the VAT registered […]
Sri Lanka’s BOI signs 16 agreements for first 2 months of 2016
Apr 01, 2016 (LBO) – The Board of Investment of Sri Lanka has signed 16 new project agreements for the first two months of this year. The said agreements represent a cumulative future investment of 110 million US dollars, the BOI said in a statement. The investment office further said these projects will be generating […]
Fitch warns rising exposure to microfinance by non-bank financial institutions
Apr 01, 2016 (LBO) – Rising exposure to microfinance at Sri Lankan non-bank financial institutions (NBFIs) could pose a risk to their credit profiles, says Fitch Ratings. The exposure among Fitch-rated NBFIs stood at just 4 percent of total loans of these entities as recently as March 2014. But this had increased to 27 percent […]
Truth behind USD 6,361mn loans of this government: Harsha de Silva
Apr 01, 2016 (LBO) – Sri Lanka’s Deputy Foreign Minister Harsha de Silva has denied the allegations that present government is taking huge loans but not utilizing the same for any productive purpose. The opposition recently charged the present government has taken 6,361 million US dollars in foreign loans in its fifteen-month lifespan thus far but […]
I practiced strict financial discipline & management, says President
Apr 01, 2016 – Sri Lanka’s President Maithripala Sirisena says he has fulfilled his duties and responsibilities in an appropriate manner during the last year when it comes to financial discipline and management of the country. It is the responsibility of the politicians and public officials to pay more attention to financial discipline and management, […]
Colombo inflation accelerates 2.0-pct in March 2016
Mar 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.0 percent in March 2016 from a year earlier, down from 2.7 percent in February 2016 with the inflation index dropping 1.1 percent in the month, the state statistics office said. As per the statistics office, Year on year inflation of […]
Sri Lanka’s unemployment at 4.3-pct in 4Q 2015
Mar 31, 2016 (LBO) – Sri Lanka’s statistics office said unemployment rate for the fourth quarter of 2015 has been estimated as 4.3 percent against the 5.0 percent reported for the third quarter of 2015. Releasing Sri Lanka’s Labour Force Survey results for the last quarter of 2015, Census and Statistics Department said estimated economically […]
Sri Lanka’s SAGT bags 4th place in world terminal productivity rankings
Mar 31, 2016 (LBO) – Sri Lanka’s first private container terminal operator South Asia Gateway Terminals has been ranked as the 4th in the world for Terminal Productivity and number 1 in South Asia by the Journal of Commerce, USA. The Ports Authority said SAGT’s berth productivity performance of 113 container moves per hour and an […]