Category: Companies
Fitch says Sunshine Holdings new equity issue not enough for ratings upgrade
May 21, 2018 (LBO) – Fitch Ratings says current ratings of Sunshine Holdings will remain unchanged as the projected fall in net leverage from the proposed private placement will be insufficient to trigger an upgrade.Fitch, however, says Sunshine Holdings (A-(lka)/Stable) plan to bring in new equity of 775 million rupees from a private placement of […]
IMF to complete its 4th review on June 1 as SL introduced fuel price formula
May 18, 2018 (LBO) – IMF Communications Department on Thursday announced that their board is scheduled to discuss Sri Lanka’s completion of its fourth review on June 1. At an IMF press briefing held in Washington, Gerry Rice of the communications department told reporters that the fuel pricing mechanism would benefit Sri Lanka and the […]
Janashakthi life business reports Gross Written Premium of Rs.764Mn , YoY growth 8-pct
Janashakthi Insurance PLC (Janashakthi) reported its financial results for the three month period ended 31st March 2018. Janashakthi had divested its General Insurance business earlier in the quarter, generating a substantial profit of Rs. 9.2 billion at a company level during the period under review. A significant portion of the proceeds from the sale […]
Samsung launches Galaxy J7 Duo in Sri Lanka
Samsung Sri Lanka expanded its best-selling range of Galaxy smartphones by introducing Galaxy J7 Duo. Galaxy J is Sri Lanka’s most popular smartphone series, accounting for every second smartphone sold in the country. With Galaxy J7 Duo, the dual camera makes its debut in the J series. The rear camera in Galaxy J7 Duo has […]
Nations Trust Bank – Realizing Dreams
The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out a place for itself in Sri Lanka’s Banking and financial services space. Innovation and a fresh approach have always been the Bank’s most potent tools and […]
Laugfs Gas urges Govt to introduce transparent mechanism for LPG pricing
May 18, 2018 (LBO) – Sri Lanka’s liquid petroleum gas (LPG) prices should be adjusted using a pricing mechanism that is transparent, impartial and fair, Laugfs Gas said issuing a statement. There have been significant changes in the LPG prices in the international market, which has had a detrimental impact on the local LPG industry, it said. […]
Virtusa Corp reported a Q4 2018 revenue of 281.3 million, Up 6.6-pct
(PRESS RELEASE) Fourth quarter fiscal 2018 revenue of $281.3 million, increased 6.6% sequentially and 24.5% year-over-year, inclusive of $5.7 million from the eTouch acquisition. Fourth quarter fiscal 2018 diluted EPS was $0.06 on a GAAP basis, and $0.55 on a non-GAAP basis, up 17% sequentially. Fiscal year 2018 revenue of $1,020.7 million increased 18.9% year-over-year. […]
‘s Telecommunication Ministry signs MoU with Microsoft
May 17, 2018 (LBO) – The Telecommunication, Digital Infrastructure and Foreign Employment Ministry signed a Memorandum of Understanding (MoU) with Microsoft in Sri Lanka to provide effective citizen services. The agreement will take us a step closer to the island’s e-Government Policy and plans for digital transformation being realised, Harin Fernando, minister of Telecommunication, Digital Infrastructure and Foreign […]
Simplicity in Business Management is here with the lightest Business App
(PRESS RELEASE) – thinkCube Systems (Pvt) Ltd, the pioneering cloud application builder, has yet again introduced an innovative product to serve the Start-up, Micro-Level and Small Enterprises. In augmenting it’s popular ezBiz Cloud Application suite for SME’s, thinkCube is launching it’s Simplified version of “ezBiz-lite” to the Sri Lankan Market on 17th May 2018. The […]
‘s Comm Bank reports PBT of Rs.6.3Bn, up 21-pct
May 15, 2018 (LBO) – Commercial Bank of Ceylon PLC has reported profit before VAT and NBT of 7.677 billion rupees and profit before tax of 6.337 billion rupees for the first quarter of 2018, with growth of 21.07 percent and 21.36 percent respectively. Gross income for the three months ending 31st March 2018 was up […]
HNB Group records Rs7.2Bn PBT in Q1
May 15, 2018 (LBO) – Sri Lanka’s Hatton National Bank reported a first quarter profit after tax growth of 22.5 percent to 4.5 billion rupees, while the Group reported a PAT of 5 billion rupees which is a 24 percent growth from last year.HNB expanded its loan book by 33.7 billion rupees during the quarter […]
Iranian companies to provide tech and engineering services to Sri Lanka
May 14, 2018 (LBO) – Iranian President Hassan Rouhani said that relations between Iran and Sri Lanka will be developed in all fields, stressing that the two countries have reached good agreements in economic fields of mutual interest to both. He said that Iranian companies are ready to provide technical-engineering services to Sri Lanka. “Relations between […]