Category: Companies
Uswatte opens state-of-the-art biscuit factory in Millaniya
Jun 22, 2018 (LBO)- Uswatte Confectionery Works, Sri Lanka’s oldest confectionery manufacturer opened their latest factory in their premises at Millaniya. The state-of-the-art factory will focus exclusively on the manufacturing of biscuits and signifies the entry of Uswatte into Sri Lanka’s biscuit market. The factory was be declared open by Prime Minister Ranil Wickremesinghe including […]
Cabinet approval for electricity pricing mechanism expected by Sept: IMF
June 22, 2018 (LBO) – Cabinet approval for an automatic tariff adjustment mechanism for electricity under the 2015 tariff methodology is expected by September, an International Monetary Fund (IMF) report said. The 2015 tariff methodology introduces price stability by fixing tariffs over a period of six months, protecting end-users from volatility in the exchange rate, […]
Sri Lanka’s unabated credit growth in real estate sector raises concerns: IMF
June 21, 2018 (LBO) – Sri Lanka’s significant credit growth for more than two consecutive years warrants attention, an International Monetary Fund (IMF) staff report released yesterday said. While a portion of this credit growth can be associated with financial deepening, loan concentration, notably in the real estate sector, raises concerns, the report added. The […]
Sri Lanka to develop internal air transport : 5 firms come forward
Jun 21, 2018 (LBO) – Sri Lanka’s government and cabinet of ministers has given the go ahead to carry out an overhaul in the domestic aviation industry and develop it. “Currently, no clear policy governing civil aviation exists, hindering development due to lack of conformity with international standards,” a cabinet statement said. To address the issues, […]
Colombo Stock Exchange decides to delist Kalpitiya Beach Resort
June 19, 2018 (LBO) – Board of Directors of the Colombo Stock Exchange has decided to delist the securities of Kalpitiya Beach Resort subject to the approval of the Securities and Exchange Commission.In an announcement, Colombo Stock Exchange said the decision to delist the company is based on the following reasons.1. The shareholders of the […]
Avian Technologies receives Dell EMC Gold Partner status
One of the leading IT solutions providers in Sri Lanka, Avian Technologies announced that the Company has received the Dell EMC Gold Partner’ status, awarded to companies that record commendable achievements in terms of revenue generation and attaining certification. The EMC Gold Partner status enables Avian Technologies to reinforce the confidence that customers have already […]
LankaPropertyWeb.com eases the hassle of buying and selling property
Today’s busy lifestyle hastaken away the luxury of time to attend to all that entails a property transaction. This includes countless amounts of paperwork, finding lawyers and valuers, spending a day at government institutions to pay stamp duties,and consultbanksto fill in forms to applyfor a housing loan. LankaPropertyWeb’snew Buyer and Seller Assistance portal removes this […]
Sri Lanka rupee hits new record low of 161.00; Stocks down
Jun 18, 2018 (LBO) – Sri Lanka’s stock and money markets got off to a slow start Monday with rupee dropping to a new low of 161.00 against the US dollar while stocks also showed a dip.The rupee opened at around 159.40/90 but by mid day was quoted around 161.00/05 to the US dollars in the […]
McLarens & Peak Engineering to offer facilities management solutions through new JV company
Jun 18, 2018 (LBO) – McOcean Property Developers (Pvt) Ltd., (a member of the McLarens Group) in a joint venture with Peak Engineering & Consultancy (Pte) Ltd., of Singapore, launched McPeak Lanka (Private) Limited; a company that offers Integrated Facilities Management Solutions to the local market. McPeak Lanka intends to provide integrated facilities management solutions […]
SriLankan will continue to fly : The airline to break-even in three years: Min Kiriella
Jun 18, 2018 (LBO) – The government has no plans to close down SriLankan Airlines but the National carriers’ income and expenditure should be bridged, Minister Lakshman Kiriella said. The Minister of Public Entreprise and Kandy City Development also said that the airline is likely to break-even in three years. He made these comments while on […]
MTD Walkers (KAPI) reports a massive loss of Rs2.8bn
June 15, 2018 (LBO) – The woes of Colombo Stock Exchange listed stocks continue with the financial results of construction company MTD Walkers (KAPI). For the year ended March 31st 2018, KAPI has reported a staggering loss of Rs2.87bn, Analysts say this is one of the largest losses of any listed company in recent memory. […]
S&P SL20 includes Ceylinco Ins, Melstacorp, Softlogic Holdings & Vallibel One
Jun 15, 2018 (LBO) – Colombo Stock Exchange (CSE) has announced changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 mid‐year index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually) […]