Category: Companies
Ceylon Chamber’s ‘Future of Business’ event to help reimagine future of work
Reimagining the future of work, will be the focus of the Ceylon Chamber’s third consecutive ‘Future of Business’ innovation strategy and learning event. This is ideal for leading Sri Lankan companies, SMEs and family owned businesses to gain unique and practical insights that can transform their businesses. The event will be a platform to learn […]
Enterprise Sri Lanka introduces mobile service islandwide
Sep 20, 2019 (LBO) – The Finance Ministry has made arrangments to reach the people and conduct Enterprise Sri Lanka mobile service island-wide in order to provide capital loans at subsidised interest rate for small and medium, self employment or industries. Accordingly, Enterprise Sri Lanka mobile service will be held at the Kirindiwela Maha Vidyalaya […]
CBSL permits Sinhaputhra Finance to implement proposed capital augmentation plan
Sep 19, 2019 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to provide Sinhaputhra Finance with an opportunity to implement the proposed capital augmentation plan within the stipulated timeframe. Sinhaputhra Finance last month submitted an objection to the license cancellation notice issued by the Monetary Board saying that a capital […]
Central Bank cancels license issued to TKS Finance Limited
Sep 19, 2019 (LBO) – Sri Lanka’s Monetary Board of the Central Bank has decided to cancel the licence issued to TKS Finance Limited (TKSF) to carry on finance business with effect from today. The Central Bank said the financial condition of TKSF is not satisfactory due to deficient capital level, poor asset quality, continuous […]
PM’s says economy stabilizing: looking at leapfrog growth trajectory
Sep 18, 2019 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the government’s plans to put the island on a leapfrog trajectory to growth so that it can become the first advanced economy in South Asia. “We are now an upper-middle income country and do we want to stagnate in the middle-income trap or […]
The Finance Co. still looking for potential investor; CBSL extends restrictions
Sep 18, 2019 (LBO) – Sri Lanka’s troubled The Finance Company is to call Expressions of Interest (EOIs) from potential investors and to request such investors to submit their Business Restructuring Proposals to revive the company. The Central Bank said in a statement that they will facilitate The Finance Company to proceed with suitable investors […]
“Sri Lankan Airlines is a vanity we cannot afford,” Fin Min says
Sep 17, 2019 (LBO) – Sri Lanka’s Finance Minister, Mangala Samaraweera says State Owned Enterprises (SOE) management has become political rather than professional, resulting in waste and corruption. “For example, my personal view is that Sri Lankan Airlines is a vanity we cannot afford,” the Minister said while addressing the Ceylon Chamber of Commerce Economic […]
Sri Lanka’s Economic Summit 2019 Opens Today
Sep 17, 2019 (LBO) – The Sri Lanka Economic Summit (SLES) 2019 themed on Re-calibrating Sri Lanka’s Economic Trajectory Towards 2025, to guide Sri Lanka’s journey towards development and prosperity will get underway at the Cinnamon Grand Colombo, today. The two-day event brings together over 450 local and international participants consisting of prominent business leaders, […]
Capitol TwinPeaks boosts expat segment confidence in Sri Lanka real estate
Colombo, Sri Lanka – September 2019 – Capitol TwinPeaks, the flagship residential venture of the Sanken Group, located on the Beira lakefront in Colombo 2, has recorded an increase in Sri Lankan expatriate interest in both the residential project, as well as Central Colombo’s luxury apartment market segment. Speaking with Sri Lankan expat and Group […]
Demand builds for islands first state run automotive service hub
Sep 16, 2019 (LBO) – Sri Lanka’s first ever state run wheel alignment centre (WAC) for four wheel light vehicle class was launched in September has seen demand for its services peak from state owned and private vehicle owners. “Eight vehicles, including high-roof ambulances, have been serviced within just seven hours’ of opening of STC […]
Fin Min orders investigation on liquor licenses issued without approval
Sep 16, 2019 (LBO) – Sri Lanka’s Finance Minister has orderd authorities to investigate and report to him on how liquor licenses were issued for taverns without obtaining the approval of the subject minister. Minister Mangala Samaraweera ordered Excise Commissioner General, H.G. Sumanasinghe to conduct an immediate investigation how liquor licenses have been issued by […]
EU delegation visits Katunayake export zone
Sep 16, 2019 (LBO) – A delegation consisting of five senior officials of the European Commission visited the Katunayake Export Processing Zone recently in connection to Sri Lanka’s GSP + status. The delegation consisting of Thorsten Bargfrede, Charged’ Affaires and head of political, trade and communication section, Walter Van Hattum, coordinator GSP trade preferences, trade […]