Category: Economy and Markets
Google+ requests consumers to save photos & videos before shutdown
Feb 01, 2019 (LBO) – American multinational technology company Google is requesting its consumers to download and save the content shared in their personal Google+ profiles as the company has decided to shut down the service for consumers by April 2019. The company said the decision was taken due to low usage and challenges involved […]
Sri Lanka’s John Keells Holdings profits up 7-pct in 3Q
Jan 31, 2019 (LBO) – Profits attributable to equity holders of the diversified John Keells Holdings group rose 7 percent to 4.8 billion rupees in the December 2018 quarter with revenues increasing 17 percent to 36.5 billion, its interim accounts showed.The Group profit before tax at 5.63 billion rupees in the third quarter is a […]
SLASSCOM hosts first-ever RPA Hackathon and Conference
Jan 31, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) will host the first-ever Robotic Process Automation (RPA) Conference and Hackathon Awards on 13th February 2019 at the Galle Face Hotel. Organized by the SLASSCOM Business Process Management (BPM) Forum, this event has already seen many companies submitting entries for […]
Colombo Port to get pilot boats for more efficient service
Jan 31, 2019 (LBO) – The Sri Lanka Ports Authority (SLPA) will sign an agreement with Colombo Dockyard PLC to build two pilot boats for Colombo Port enabling it to handle a greater volume of activities with more efficiency. A pilot boat is a type of boat used to transport maritime pilots between land and the […]
”’; withdraws ratings
Jan 30, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka Telecom’s Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs) at ‘B’ with a stable outlook and the agency has simultaneously withdrawn the ratings for commercial reasons. The ratings were withdrawn with the following reason For Commercial Purposes Key Rating Drivers Ratings Constrained by Sovereign: Prior to […]
Sri Lanka computer literacy at 27.5-pct: Digital literacy growing
Jan 30, 2019 (LBO) – Overall computer literacy reported in 1st half of 2018 for Sri Lanka is 27.5 percent, a new survey shows. This is an decrease of 0.8 percentage points from 2017 (1st half) to 2018 (1st half). When the digital literacy is considered two out of every five (aged 5 – 69) has […]
Sampath Bank says ‘incident’ reported in media already corrected
Jan 29, 2019 (LBO) – Sampath Bank says they have already taken appropriate measures to correct what they called an ‘incident’ occurred several months ago, to ensure no recurrence. Referring to an article appeared on a website this morning that is being shared on social media about a financial irregularity, the bank said in a stock […]
Sri Lanka reserves at USD7.0Bn
Jan 29, 2019 (LBO) – Sri Lanka Governments’s gross official reserves stood at US dollars 7.0 billion which was equivalent to 3.7 months of imports at end November 2018, data shows. Total foreign assets, which consist of gross official reserves and foreign assets of the banking sector, amounted to US dollars 9.7 billion as at […]
Sri Lanka exports grow 4.1-pct USD980Mn in Nov 2018
Jan 29, 2019 (LBO) – Sri Lanka’s deficit in the trade account narrowed significantly in November 2018 (year-on-year) following a decline in import expenditure, the Central Bank said. Exports grew by 4.1 per cent while imports contracted by 9.1 per cent in November 2018 (year-on-year). “The deficit in the trade account narrowed significantly in November […]
An insight into Sri Lanka’s economic behaviour: NTB
Jan 28, 2019 (LBO) – Elaborating on the ‘Insight into Sri Lanka’s Economic Behaviour’, executive vice president – treasury and investment banking at Nations Trust Bank, Indrajith Boyagoda shares his views on Sri Lanka’s current economic circumstances and the role of banking in this environment. “It is of significant importance that, the global economy is […]
Sri Lanka Govt introduces more loans for 3-wheel owners and migrant workers
Jan 28, 2019 (LBO) – The Finance Ministry under the Enterprise Sri Lanka concessionary loan scheme is to introduce further concessionary loans to widen the schemes enabling the stake holders to move towards next generation economic activities in their areas of activities. Accordingly migrant workers will be given up to 10 million rupees concessionary housing loans […]
Sri Lanka vehicle registration down in Dec 2018
Jan 28, 2018 (LBO) – Sri Lanka’s vehicle registrations across all categories showed a slowdown in December 2018, a new research report said. “Across all categories there has been a slowdown in registrations in December,” data compiled by JB Securities, an equities research firm report shows. ” This is as a result of the measures […]