Category: Companies
Uki offers an alternate route from the Northern Province into the tech industry
By Jekhan Aruliah Does Sri Lanka need more university graduates? Sri Lanka has tens of thousands of unemployed graduates. Every now and then the government brings thousands more of them into the Public Service, further bloating an already bloated service. In December 2019 a government minister promised jobs for all 64,000 (his figures) unemployed graduates! […]
Fitch affirms HNB Finance at A(lka); outlook stable
Feb 12, 2020 (LBO) – Fitch Ratings Lanka has affirmed HNB Finance Limited’s (HFL) National Long- Term Rating at ‘A(lka)’ with a stable outlook. The agency has also affirmed the National Long-Term Rating on HFL’s subordinated debentures at ‘BBB+(lka)’. KEY RATING DRIVERS HFL’s rating reflects Fitch’s expectation of support from parent, Hatton National Bank PLC […]
HNB Finance first IPO since January 2018
HNB Finance Limited, a licensed finance company has obtained approval from the Colombo Stock Exchange to list its voting and non-voting ordinary shares. The ordinary voting shares will be listed by way of an IPO via an Offer for Sale of 10mn shares at a price of Rs. 5.70 per share while the ordinary non-voting […]
Land an investment tool: Creates greater appeal for affluent
Land has been a commodity that has been looked upon as an investment for generations. The general understanding is to obtain land for housing or commercial purposes. However, land purely as a tool of investment has increasingly become an area of interest. The annual increment of land value every year is stipulated to be around […]
Sri Lanka economy on the mend in 2020 : Will look at new IMF deal
Feb 11, 2020 (LBO) – A revival in economic activity can be expected in 2020 with the support of better fiscal and monetary measures with Sri Lanka also looking at a fresh deal with the IMF, a senior official said. Speaking at the Ceylon Chamber of Commerce’s Economic Outlook launch for 2020 the Central Bank […]
Mobitel & Thuru’s reforestation project shortlisted at GSMA Global Mobile Awards 2020
Mobitel and Thuru’s joint project – ‘Reforestation through Technology’ – has been shortlisted for the ‘Best Mobile Innovation for Climate Action award’ at GSMA Global Mobile Awards 2020, popularly known as the GLOMO Awards, scheduled to be held in Barcelona in February 2020, where winners will be announced. This recognition is yet another feather in the cap […]
Sri Lankan Airlines corruption scandal reveals need for deeper structural reform in SoEs : Advocata
Weak governance has led to large scale corruption in state enterprises. Sri Lankan airlines has made Rs. 169 billion in losses since nationalisation in 2009. It has recently been revealed that Airbus SE paid the wife of a Sri Lankan Airlines Executive US$ 2 million, out of a US$ 16 million bribe over a large […]
Sri Lanka can boost its development tapping agriculture and new technology : WB
Feb 05, 2020 (LBO) – The World Bank reaffirmed its continued support to Sri Lanka’s growth and development for the benefit of all its people, as World Bank Vice President for South Asia, Hartwig Schafer concluded a four-day visit. During his visit, Schafer gained a better understanding of the country’s development priorities under the new government and how the World […]
Crysbro energises sustainable farming practices with solar power
Feb 03, 2020 (LBO) – In a major step in its continual efforts to embrace sustainable farming practices across all layers of its operations, leading Sri Lankan poultry producer Crysbro successfully completed the installation of a mega solar power generation system at its Galgamuwa Farm. This latest development saw Crysbro install nearly 1,200 solar panels […]
President orders full probe into allegations over Airbus deal
Feb 03, 2020 (LBO) – President Gotabaya Rajapaksa has ordered a comprehensive investigation into reports of allegations over financial irregularities said to have committed during the deal between SriLankan Airlines and Airbus SE for the purchase of aircrafts. An English language weekly and few websites have published reports describing alleged misdeeds relating to the transaction […]
Current trends may lead to undesirable turnaround in market lending rates
Jan 30, 2020 (LBO) – Market lending rates have adjusted downwards, in response to monetary and regulatory measures taken by the Central Bank, but the pace of reduction has decelerated. The Central Bank said the reduction in lending rates thus far, except for the Average Weighted Prime Lending Rate (AWPR), has been less than envisaged. […]
‘s private sector credit growth picks up in December
Jan 30, 2020 (LBO) – Growth of credit extended to the private sector has picked up in December 2019, on a year-on-year basis, following a continued slowdown since December 2018. Driven by domestic credit expansion, broad money growth (year-on-year) also picked up in December 2019, the Central Bank data showed. However, the absolute expansion in […]