Category: Companies
Sri Lanka tea plantation workers offered a wage hike
July 14, 2015 (LBO) – Sri Lanka’s regional plantation companies (RPCs ) said they are raising the daily pay for 1000 rupees to meet labour union demands but only if workers agree to improve their productivity and pluck more tea.Plantation worker earns 620 rupee wage at present. “While the RPCs are finding even the present […]
Sri Lanka’s Asiri Central Hospitals sells Horton Place land for RS2.7bn
July 10, 2015 (LBO) – Sri Lanka’s Asiri Hospital Holdings said a sale and transfer of land and premises owned by Asiri Central Hospitals was completed Thursday for 2.70 billion rupees. The land is situated at No 37, Horton Place, Colombo 07, the company said in a stock exchange filing. Asiri Central Hospitals limited formerly […]
SriLankan Airlines, airberlin and NIKI codeshare mulls boost in tourism
July 6, 2015 (LBO) – SriLankan Airlines, airberlin the second largest airline in Germany and its subsidiary NIKI signed a new codeshare agreement recently, paving the way for increased tourism potential between Sri Lanka, Germany and Austria.“SriLankan Airlines is confident that our new codeshare with airberlin and NIKI will provide a much needed boost for […]
Ceylon Biscuits group chairman retires after 48 years of service
July 06, 2015 (LBO) – Sri Lanka’s biscuits manufacturing giant Ceylon Biscuits group said its Chairman Mineka P.Wickramasingha has been retired after 48 years at the helm of the organization he founded in 1968.At a recent Board meeting held on the 24 June 2015, the current Deputy Chairman, Ramya Wickramasingha was elected by the Board […]
“SRI LANKA – TECHNOLOGY DRIVES DISRUPTION: EMBRACE OR FACE EXTINCTION”| LBR LBO SUMMIT 2015
LBR LBO Annual Enterprise Summit 2015 will be held on 14th July at Oak Room, Cinnamon Grand with a total of 30 speakers both local and Intentional. This year’s Platinum and Title Sponsor is Leapset, while Singer Mega and Sampath Bank are Gold sponsors. Etisalat is the mobile enterprises solutions partner. At a media briefing […]
Huawei launches its flagship smartphone – P8
July 6, 2015 (LBO) – Chinese telecoms maker Huawei together with Singer Sri Lanka launched its newest addition to the smart phone segment “Huawei P8” in Colombo recently.“The Huawei P8 is inspired by the best of human design from different cultures across the centuries and embodies the human spirit of exploration and beauty,” Henry Liu, […]
SriLankan airline loss Rs4.9bn in first four months of 2015
July 2, 2015 (LBO) – Sri Lanka’s state owned SriLankan airline recorded a loss of 4.9 billion rupees during the first four months of 2015, statistics shows.This has been resulted to increase the accumulated losses of the airline to 130.9 billion rupees. The airline reported a revenue of 39.6 billion rupees during the period, which […]
Nawaloka Hospitals commences Rs2.5bn construction of multi-story car park
July 2, 2015 (LBO) – Sri Lanka’s Nawaloka Hospitals commenced construction of a 14 floor multi-storey car park and specialist center adjacent to the existing hospital complex with an investment of 2.5 billion rupees, the company said in a press release.This fifth phase of expansion of capacity since the hospital’s inception, will add 450,000 square […]
Commercial Leasing and Finance to issue debt
July 2, 2015 (LBO) – Sri Lanka’s Commercial Leasing and Finance to issue 50,000,000 rated, senior, unsecured, redeemable debentures at an issue price of 100 rupees each, the company said in a filing to stock exchange.The company says the Colombo Stock Exchange has approved the application for listing the debt securities of the company.The subscription […]
Lanka Rating Agency not entitled in law to carry on business as a Credit Rating Agency nor review ratings: SEC
July 1, 2015 (LBO) – Sri Lanka’s Securities and Exchange Commission of Sri Lanka (SEC), at its meeting held on the 29th of June 2015, decided that due notice be given to members of the public that, registration of Lanka Rating Agency Limited (LRA) as a Market Intermediary under the category of ‘Credit Rating Agency’ […]
Sri Lanka’s Access Engineering to enter property development sector
June 30, 2015 (LBO) – Sri Lanka’s leading construction company, Access Engineering is to enter into the highly growing property development sector with 524 million rupees of investment, the company said.The company has invested 273.6 million rupees to acquire Horizon Holdings Ventures private limited incorporated in this month.It has also invested 250.0 million rupees to […]
Sri Lanka’s Bartleet Finance and Orient Finance to be merged
June 29, 2015 (LBO) – Sri Lanka’s Bartleet Finance Plc, and Orent Finance had been given approval by shareholders, to merge both companies, Orient Finance said in a stock exchange listing.“Existing shareholders would get a payment of 14.97 rupees per share for every one ordinary share of Orient finance or 01 ordinary voting share in […]