Category: Economy and Markets
Building disruptive models challenge dominant industry logic: Leapset CEO
July 25, 2015 (LBO) – Anyone can build a disruptive company, but not if you work for a big company, Mani Kulasooriya, co-founder and the chief executive of Leapset, a technology innovator for the United States food service industry, said. “If you are big company, you have to worry about your existing business, customers, brand, […]
Sri Lanka stocks close up 0.8-pct
July 24, 2015 (LBO) – Sri Lanka’s stocks closed up 0.78 percent on Friday mainly due to the Central bank announcement that policy rates would be maintained, brokers said. The Colombo benchmark All Share Price Index closed 56.43 points higher at 7,269.05 up 0.78 percent. The S&P SL20 closed 40.90 points higher at 4,082.11 up […]
Sri Lanka’s EPF should be managed by public trust, Not allowing Central Bank to manipulate: Eran
July 24, 2015 (LBO) – Sri Lanka’s Employee Provident Fund should come under a public trust and not allowed to be manipulated by the Central bank, a former deputy minister said. “This is one of the biggest frauds happening in the country and I have been saying this in parliament for the last five years,” […]
Sri Lanka’s Carsons profits up, Beverage sector revenues affected: Annual Report
July 23, 2015 (LBO) – Sri Lanka’s Carson Cumberbatch PLC, with investments ranging from oil palms and beer to financial services said revenue were up by 22.8 percent to 785 million rupees in 2014/2015, even though beverage segment of the company was affected due to excise duty. “Some of the tax proposals presented at the […]
MAS in chemical leasing arrangement for waste water treatment
July 24, 2015 (LBO) – MAS Active Linea Intimo announced it has entered into a chemical leasing arrangement for waste water treatment, a world’s first for the industry, according to the garments manufacturer. Chemical leasing is a business model in which a chemical is leased from a company providing its service. MAS Active Linea Intimo […]
‘s United National Front suggests drastic proposals in manifesto
July 24, 2015 (LBO) – Sri Lanka’s United National Front for Good Governance on Thursday unveiled its election manifesto aimed at creating a competitive social market economy based on knowledge. Proposed social market economy seeks to expand the base of open economy or economic democracy in the country within 60 months. The manifesto has addressed […]
Sri Lanka private sector credit growth expands, Policy rates to be maintained: Central Bank
July 24, 2015 (LBO) – Sri Lanka Central Bank says credit to the private sector by commercial banks grew by 17.6 per cent, year-on-year, in May 2015, given the low interest rate environment in the Island. In absolute terms, credit to the private sector expanded by 48.6 billion rupees in the month of May and […]
New mobile device to access CSE trading on the go
July 24, 2015 (LBO) – IronOne Technologies, a software product development company has launched ‘ATrad Mobile’ for busy investors to access the CSE for real-time market information, and to trade securely on their smart phones, a statement said.“‘ATrad Mobile’ has easy to use stock trading features and capabilities that allow clients to securely trade stocks, track and manage portfolios and […]
‘s Keells Food Products Q1 profits up 86 pct: Interim Report
July 24, 2015 (LBO) – Sri Lanka’s Keells Food Products Plc, part of the John Keells conglomerate said profits rose 86 percent to 70 million rupees in the June 2015 as revenues also grew.The firm reported earnings of 2.76 rupees per share up from 1.48 rupees in 2014. The stock closed at 141.30 rupees on […]
Sri Lanka stocks close up 0.2-pct on seven week high
July 23, 2015 (LBO) – Sri Lanka’s stocks closed up 0.18 percent on Thursday on a seven week high with index heavy stocks continuing to show gains, brokers said. The Colombo benchmark All Share Price Index closed 12.99 points higher at 7,212.62 up 0.18 percent. The S&P SL20 closed 3.38 points higher at 4,041.21 up […]
Sri Lanka’s Union Bank 1H profits up 211 pct to Rs60mn: Interim Report
July 23, 2015 (LBO) – Sri Lanka’s Union Bank said net profit rose 211 percent to 60 million rupees in the first half to June 2015.Interest income of the bank fell four percent to 1,905 million rupees while interest expenses also fell 31 percent to 865 million enabling net interest income to rise 43 percent […]
Sri Lankan economy expands 5.1-pct in Q1 2015 after rebasing
July 23, 2015 (LBO) – Sri Lanka’s rebased national accounts estimates, which takes 2010 as base year, against 2002 shows the Islands economy five percent bigger.“The structural composition of the economy has changed after the rebasing due to revision of the reference year and other improvements made to the system in the rebasing process,” the […]