Category: Economy and Markets
John Keells Holdings secures USD 175 mn long-term financing facility from IFC
Jun 23, 2020 (LBO) – Sri Lanka’s diversified John Keells Holdings on Tuesday entered into a long-term financing agreement with the International Finance Corporation (IFC) for US Dollars 175 million to support funding of the Company’s investment pipeline. The company said in a stock exchange filing that this facility is IFC’s largest investment to-date in […]
How to determine the best cloud service provider for your business.
As the COVID-19 pandemic encouraged most businesses to shift to remote work environments, it’s the cloud that made this possible. Although popularity for cloud computing increased in the wake of this pandemic, businesses have long since being depending on its services to make operations faster, simpler and more productive. With businesses that function by otherwise […]
Rooster Jobs launched to help businesses steer recruitment during Covid-19
Jun 23, 2020 (LBO) – Rooster Jobs is a free of charge end-to-end recruitment platform and Applicant Tracking System (ATS) designed to help businesses source suitable candidates. The platform was launched on 11th of May with the motive to assist businesses navigate hiring efficiency amidst the turbulent environment created by Covid-19. Within a short span […]
Nation Lanka Finance appoints Suresh Amerasekera as CEO
Jun 23, 2020 (LBO) – Nation Lanka Finance (NLF) announced the appointment of Suresh M. Amerasekera as their new CEO with effect from 9 June 2020.He was functioning as the COO of NLF, from September 2, 2019. Suresh is a Senior Banker, with over 35 years of experience in the Finance Industry.He last held the […]
HNB records sharp spike in cardless transactions during COVID lockdown
Jun 23, 2020 (LBO) – Leading private sector bank HNB PLC, reported a 70 percent increase in the use of its cardless cash withdrawal facility, Cash to Mobile during the peak of the COVID-19 pandemic. Through the period of January to May 2020, the bank witnessed an average (month-to-month) increase of 60 percent on Cash […]
Sri Lanka electricity generation down 22.7-pct in Apr 2020
Jun 21, 2020 (LBO) – Sri Lanka’s total electricity generation (excluding non- conventional electricity as solar, wind, mini-hydro & biomass) stood at 964,043 MWh in the month of April 2020, down 22.7 percent from 12,46,863 MWh in the month of January 2020, data submitted by Ceylon Electricity Board shows. The reduction of the electricity generation […]
Sri Lanka should adopt extreme tourism targeting, covering high-end and backpackers
Jun 23, 2020 (LBO) – Sri Lanka’s tourism industry can adopt extreme targeting, covering not only the high-end but also the lower end backpackers, an industry professional said. “They are more prone to travel during this period. It is about targeting early adopters both consumers and logistics/market-wise,” Vickum Nawagamuwage Founder CEO of Santani Wellness Resort told a […]
‘s headline inflation decreased further in May
Jun 22, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the National Consumer Price Index decreased further to 5.2 percent in May from 5.9 percent in April. This was mainly driven by the statistical effect of the high base that prevailed in May 2019. Meanwhile, Food inflation (Y-o-Y) declined to 11.1 […]
Ranjith Kodituwakku appointed People’s Bank CEO
Jun 22, 2020 (LBO) – Ranjith Kodituwakku has been appointed as the Chief Executive Officer/ General Manager of People’s Bank with effect from June 19, 2020. He had previously served as the Deputy General Manager (Commercial Banking and Digitalization). The appointment as CEO/GM follows the retirement of M.A. Boniface Silva – Acting CEO/GM. Ranjith Kodituwakku […]
Trade deficit widens in April; import expenses on personal vehicles up, no tourism earnings
Jun 22, 2020 (LBO) – Sri Lanka’s trade deficit widened in April 2020 to US dollars 840 million, from US dollars 797 million in April 2019, as the decline in exports exceeded the decline in imports. Expenditure on merchandise imports declined notably, on a year on year basis, by 29.6 percent to US dollars 1, […]
DIRECTOR OF FINANCE COURSE
Conducted by a Veteran Finance Professional Nirmalan Nagendra recently conducted an extensive Director of Finance Course for Executive Committee Members of hotels in Sri Lanka. The target audience for the course were Finance Professionals, Hotel Owners, HR Managers, F&B Managers, F&B Controllers and Senior Sales Personnel of hotels. Having worked in the Middle East, Barbados, […]
‘s Bank introduces multiple loan schemes in line with government direction
Jun 22, 2020 (LBO) – The Chairman and Board of Directors together with the management of the People’s Bank in accordance with the direction of the Government, has introduced a number of new loan schemes along with special concessionary interest rates for sectors with most of the loan schemes offering single-digit interest rates. According to […]