Category: Companies
BOI inks 4 agreements for Hotel, Fabric manufacture and warehousing and logistics
Feb 07, 2019 (LBO) – Sri Lanka’s Board of Investment signed agreements for 4 new projects recently. The companies representatives signed the agreements with the BOI. Representing the BOI was Ms. Champika Malalgoda, Director General of the Board of Investment of Sri Lanka. One of the Agreement signed was with Arihara Lanka Dream Company (Private) […]
Commercial Bank enables online payment of Ports Authority charges
Feb 06, 2019 (LBO) – Commercial Bank of Ceylon has added the Sri Lanka Ports Authority to its online banking platform, enabling customers to pay their Ports Authority charges in respect to their shipping requirements from anywhere, anytime. To use this online payment option, customers have to key in their 14 digit invoice number issued […]
Sri Lanka Customs chief P.S.M. Charles reinstated
Feb 06, 2019 (LBO) – P.S.M. Charles has been reinstated as the Director General of Customs following the its trade union alliance launching a work-to-rule campaign since January 30 on her removal from office. Finance Minister Mangala Samaraweera is said to have withdrawn the proposal to appoint retired navy officer Rear Admiral Shemal Fernando as the […]
CINV and GUAR considering options to wind up The Sri Lanka Fund
Feb 05, 2019 (LBO) – Ceylon Guardian Investment Trust PLC (GUAR) and Ceylon Investment PLC (CINV) has decided to consider options of winding up The Sri Lanka Fund, an open-ended fund incorporated in the Cayman Islands, denominated in US dollars. The fund was relaunched in August 2010 under the management of Guardian Fund Management Limited (GFM) […]
Fitch announce re calibration of Sri Lankan National rating scale
Feb 05, 2019 (LBO) – Fitch Ratings said today it will re-calibrate the Sri Lankan National Rating scale to reflect changes in the relative creditworthiness among Sri Lankan issuers following the downgrade of the country’s sovereign rating to ‘B’ from ‘B+’ on 3 December 2018. The full statement follows: Fitch Ratings-Hong Kong/Singapore-04 February 2019: Fitch […]
Google+ requests consumers to save photos & videos before shutdown
Feb 01, 2019 (LBO) – American multinational technology company Google is requesting its consumers to download and save the content shared in their personal Google+ profiles as the company has decided to shut down the service for consumers by April 2019. The company said the decision was taken due to low usage and challenges involved […]
Sri Lanka’s John Keells Holdings profits up 7-pct in 3Q
Jan 31, 2019 (LBO) – Profits attributable to equity holders of the diversified John Keells Holdings group rose 7 percent to 4.8 billion rupees in the December 2018 quarter with revenues increasing 17 percent to 36.5 billion, its interim accounts showed.The Group profit before tax at 5.63 billion rupees in the third quarter is a […]
SLASSCOM hosts first-ever RPA Hackathon and Conference
Jan 31, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) will host the first-ever Robotic Process Automation (RPA) Conference and Hackathon Awards on 13th February 2019 at the Galle Face Hotel. Organized by the SLASSCOM Business Process Management (BPM) Forum, this event has already seen many companies submitting entries for […]
”’; withdraws ratings
Jan 30, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka Telecom’s Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) at ‘B’ with a stable outlook and the agency has simultaneously withdrawn the ratings for commercial reasons. The ratings were withdrawn with the following reason For Commercial Purposes Key Rating Drivers Ratings Constrained by Sovereign: Prior to […]
Sri Lanka computer literacy at 27.5-pct: Digital literacy growing
Jan 30, 2019 (LBO) – Overall computer literacy reported in 1st half of 2018 for Sri Lanka is 27.5 percent, a new survey shows. This is an decrease of 0.8 percentage points from 2017 (1st half) to 2018 (1st half). When the digital literacy is considered two out of every five (aged 5 – 69) has […]
Sampath Bank says ‘incident’ reported in media already corrected
Jan 29, 2019 (LBO) – Sampath Bank says they have already taken appropriate measures to correct what they called an ‘incident’ occurred several months ago, to ensure no recurrence. Referring to an article appeared on a website this morning that is being shared on social media about a financial irregularity, the bank said in a stock […]
” as government support weakening
Jan 24, 2019 (LBO) – Fitch Ratings has downgraded the National Long-Term Rating and senior unsecured debentures of Housing Development Finance Corporation Bank (HDFC Bank) to ‘BB+(lka)’ from ‘BBB-(lka)’ reflecting the weakening of the sovereign’s ability to provide support. “The downgrade reflects Fitch’s assessment of HDFC Bank’s standalone strength, as we believe timely support from the […]