Category: Companies
Sri Lanka Central Bank expects lending rates to reduce further in immediate future
July 19, 2019 (LBO) – Sri Lanka’s Central Bank expects lending rates of banks and NBFIs to reduce further in the immediate future, and borrowers, particularly SMEs, can expect to obtain credit facilities at reduced interest rates from banks and NBFIs. The Central Bank of Sri Lanka requested licensed banks and Non-Bank Financial Institutions (NBFIs) […]
BOI inks agreement with edotco to equip Sri Lanka with Smart City Solutions
July 17, 2019 (LBO) – The Board of Investment (BOI) and edotco Sri Lanka, an integrated telecommunications infrastructure services company today entered into an agreement to invest in the latest Smart City solutions and energy-efficient systems. Under this agreement, the BOI grants edotco Sri Lanka the approval to deploy urban smart solutions throughout the country […]
SenzMate, the Internet of Things tech company born in Jaffna
By Jekhan Aruliah I visited SenzMate a few months ago, and am only now getting around to writing about them. The reason for my hesitation has been although this is a Jaffna born company it is no longer in Jaffna. My objective in these articles is to root for businesses to move North. SenzMate had […]
”; outlook stable
July 12, 2019 (LBO) – Fitch Ratings Lanka has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘BB-(lka)’ from ‘BB(lka). The Outlook is Stable. The downgrade stems from a sharp deterioration in Bimputh’s capital position, which they believe is no longer commensurate with its high-risk appetite. This is due to the significant decline in asset […]
John Keells empowers skills development of over 9200 youth in 2018/19
(PRESS RELEASE) “When I came home with my poor O/L results, my father asked me what I would do with my life now? He actually gave up on me. It was my mother who stood by me, pushed me and supported me when I decided to apply for the John Keells Vocational Training Programme last […]
BOI signs deal with Japanese company to set up Boutique Hotel with USD 8.4Mn investment
July 10, 2019 (LBO) – Sri Lanka’s Board of Investment recently signed a new investment agreement with Wakana JPN (Pvt) ltd. to construct and operate a 21-roomed new boutique hotel in Ahungalla, with an investment of 8.4 million US dollars. The Agreement was signed on behalf of the BOI by Chairman Mangala Yapa and on […]
Improving macro stability, lower yields may strengthen equity returns: First Capital
July 05, 2019 (LBO) – Despite the Easter Sunday attacks Sri Lanka’s economic outlook has shown signs of resilience and ability to recover quickly as economic activities were seen returning to normalcy while removal of travel advisories was faster than anticipated, First Capital said in their latest equity strategy. The research firm believes that the […]
Ceylon Chamber calls for more transparency on SOFA & MCC
July 03, 2019 (LBO) – Ceylon Chamber requests the Government of Sri Lanka to clarify the exact position with regards to the current status of the proposed Status of Forces Agreement (SOFA), and the Millennium Challenge Corporation (MCC) Agreement negotiations and execution. Releasing a statement, the chamber said a commitment to transparency by all parties […]
SriLankan aims Rs75mn annual cost saving by moving back-office functions to Katunayake
July 03, 2019 (LBO) – The Board and Management of SriLankan Airlines have taken a decision to relocate all its corporate offices in the World Trade Centre to its main operational hub in Katunayake. The Management of SriLankan Airlines emphasized that it is business as usual for all their customers as none of the key […]
The Lean Six Sigma Company launches its operations in Sri Lanka
With the motive of supporting organizations and individuals in their ambition to continuously improve processes, The Lean Six Sigma Company, one of the world’s leading providers of Lean Six Sigma training recently commenced its operations in Sri Lanka in partnership with DA’VISION Business Solution Pvt Ltd, making it the first country to establish their presence […]
SriLankan Airlines incurs to Rs.13Bn loss in first 4 months of 2019
Jul 02, 2019 (LBO) – State-run SriLankan Airlines total loss has increased to 12,961 million rupees in the first four months of 2019, a new report said. The total debt of Sri Lankan exceeded US 750 million dollars, according to mid –year Fiscal Position Report -2019 of the Finance Ministry. “While the Government is currently […]
Fitch affirms 5 Sri Lankan finance companies; revises outlook on MIF to negative
July 01, 2019 (LBO) – Fitch Ratings has revised the Outlook on Mercantile Investments and Finance PLC (MIF) to Negative from Stable and has affirmed the ratings. At the same time, Fitch has affirmed the ratings of the following Sri Lankan finance companies:– Central Finance Company PLC (CF)– LB Finance PLC (LB)– Senkadagala Finance PLC […]