Category: Companies
Sri Lanka launches first social impact funds to support social entrepreneurs
Sept 27, 2018 (LBO) – Two Memoranda of Understanding were signed today in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development.The signings were witnessed by Foreign Minister Tilak Marapana and Achim Steiner, UNDP Administrator, at a special […]
Shareholders of Morison reject resolution to delist from CSE
Sept 27, 2018 (LBO) – Morison PLC said in a stock exchange filing that their resolution to delist the company from the Colombo Stock Exchange was not adopted by the shareholders at the EGM.Morison PLC last month proposed to delist ordinary voting shares and ordinary non-voting shares of the company from the official list of […]
Uncertainty surrounds MTD Walkers (KAPI) upcoming Rs2.1bn debenture maturity
September 26, 2018 (LBO) – Colombo Stock Exchange (CSE) listed MTD Walkers (KAPI) has left debt market investors on the edge with regard to the company’s upcoming debenture maturity. KAPI will have to refund Rs2.1bn to investors at the end of the week on September 30th 2018. The debenture is maturing after its three year […]
NDB rights issue in question as shares trade below rights issue price of 105
September 26, 2018 (LBO) – The woes of the Colombo Stock Exchange (CSE) threaten to disrupt the capital raising efforts of one of Sri Lanka’s most prominent financial institutions. CSE listed National Development Bank (NDB) is attempting to raise funds via a rights issue to bolster the capital of the bank. The bank is trying […]
Collapse of rupee and yahapalana govt.’s economic mismanagement: MR
Sept 26, 2018 (LBO) – The Rupee has depreciated steadily against the US Dollar ever since the yahapalana government came into power – a trend which has now accelerated alarmingly. The value of the US Dollar which was Rs. 131 at the end of 2014 when I left office is now over Rs.170 and continuing […]
Sri Lankan tech firm Auxenta in ‘30 Most Innovative Companies to Watch 2018’
Sept 21, 2018 (LBO) – The fast-growing boutique technology solutions firm, Auxenta, is proud to be named as one of ‘30 Most Innovative Companies to Watch for 2018’, with some of the leading tech firms around the globe. Headquartered in Silicon Valley, USA, Auxenta is an innovative software engineering services and technology product consulting company. It works […]
‘s rupee hits record lows as Central Bank hold rates
Sept 21, 2018 (LBO) – Sri Lanka’s rupee hit an all time low of 168.65/169.00 to the US dollar at the close of day Thursday down from 167.10 the day before as the Central Bank of Sri Lanka held rates. Sri Lanka’s Minister of Finance Mangala Samaraweera releasing a statement said that Sri Lanka has been […]
‘s Access gets Col 02 land for Rs.1.1 Bn
Sept 20, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved the lease of a prime land block in the Colombo’s central business district to Access Realties, a local real estate developer, s statement said. The land area of 114.56 perches has been leased on a 99 year lease for 1.1 billion rupees, a recently […]
Margin deposit requirement against LCs opened with commercial banks for vehicles
Sept 20, 2018 (LBO) – The Monetary Board of the Central Bank of Sri Lanka imposed a 100 per cent margin deposit requirement against Letters of Credit opened with the commercial banks for the import of motor vehicles,which are generally used for non-commercial purposes,with immediateeffect.Accordingly, Letters of Credit for the importation of these vehicle categories […]
‘s CAL facilitates first cross-border share transaction by local investment bank
Sept 19, 2018 (LBO) – Capital Alliance (CAL), recently performed Sri Lanka’s first ever transaction of overseas stocks, a statement said. CAL partnered with Lanka Bangla Securities, a licensed stockbroker on the Dhaka Stock Exchange in Bangladesh to conclude this investment. “CAL has supported investors on the CSE for many years, but the liberalization of […]
SLASSCOM launches program with Uni of Colombo for data science and AI
Sept 18, 2018 (LBO) – The Center for Data Science, Department of Statistics, University of Colombo will launch a training program in fundamentals of data science, establishing it as the third pillar within Sri Lanka’s ICT Exports. The course fee of this program is subsidized through the National Export Strategy (NES) initiatives through the Export Development […]