Category: Economy and Markets
CSE listed CDB reports profit of Rs339mn; Deposits grow to Rs47bn
August 13, 2018 (LBO) – Colombo Stock Exchange listed Citizens Development Business Finance (CDB) reported robust profits for the June 2018 quarter.Profits at the CBSL registered finance company were Rs339mn for the quarter on equity of approximately Rs7.6bn. The firm is operating a full balance sheet with assets of approximately Rs80bn.Deposits grew to a massive […]
Abans Finance (AFSL) reports modest profit, deposits at 6.5bn, balance sheet shrinks sequentially
August 13, 2018 (LBO) – Colombo Stock Exchange listed Abans Finance PLC (AFSL) released quarterly results for the period ended June 2018.The CBSL registered finance company reported a modest profit of Rs18mn for the quarter on an equity base of over Rs1.5bn. Total assets were Rs8.8bn, while total deposits were Rs6.5bn. The balance sheet of […]
Hayleys celebrates 140 years of innovative excellence in Sri Lanka
Leading Sri Lankan multinational and diversified conglomerate, Hayleys PLC celebrates 140 years of business excellence and innovation this year. Established in 1878 by Chas. P. Hayley, a British entrepreneur in Galle, the company at its inception served as trading house for the import of valuable goods, and export of locally produced goods such as spices, […]
Foreigners continue Sri Lanka bond exit, stocks flat for the week
August 12, 2018 (LBO) – As emerging markets around the world remained volatile, foreigners continued to sell out of Sri Lanka government bonds. For the week, foreigners pulled another Rs2.5bn out of the local bond markets. Year to date net foreign selling of Sri Lankan bonds has gone up to Rs39bn (US$244mn). Despite the significant […]
President appoints committee to study Sri Lanka – Singapore FTA
Aug 11, 2018 (LBO) – President Maithripala Sirisena has appointed an independent committee comprising of five experts to study and report on the Free Trade Agreement signed with Singapore. Former Vice Chancellor of the Colombo University, Professor W. D. Lakshman will chair this committee, media reports said, quoting President’s Media Division. Other members include Professor Sirimevan Colombage from […]
Sri Lanka hikes premium fuel prices
Aug 10, 2018 (LBO) – Sri Lanka has increased the prices of petrol (95) by 2.00 rupees to 167 rupees and super diesel by 1.00 rupee to 130 rupees, the Finance Minister announced a short while ago.“Although international fuel prices came down last month, there was uncertainty in the Middle East and last week prices were […]
Technical Cooperation Project from JICA for development of Kandy
Aug 10, 2018 (LBO) – The Urban Development Authority (UDA) of Sri Lanka and Japan International Cooperation Agency (JICA) have been working together since February 2017 to formulate the urban development vision, plan and design guidelines with the objective of realizing Kandy’s unique socio-economic potential while preserving its ancient heritage. An urban planning expert team from […]
Pan Asia Bank PAT tops Rs.800Mn in 1H 2018
Aug 10, 2018 (LBO) – Pan Asia Banking Corporation PLC reported its best ever profit recorded in a first half in 2018 anchored by solid growth in new loans, prudent margin and asset-liability management.For the six months ended in June 30, 2018 (1H’18), the bank reported a profit after tax of Rs.819.6 million, up by a […]
Oracle Cloud powering Sri Lankan organizations to transform and innovate
Aug 10, 2018 (LBO) – Three of Sri Lanka’s most prominent companies shared how they are transforming their businesses and accelerating the adoption of the latest innovations thanks to the use of Oracle Cloud Applications, during a recent media showcase. The event, which focused on cloud-driven innovation, saw participants hearing directly from key business leaders about […]
CSE’s Depository arm CDS capitalizing on technology to diversify business
Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE) is announcing a number of new offerings focused on raising-the-bar in the services offered to its stakeholders. In this in-depth interview, Nalin Fonseka, Head of CDS speaks on the thinking behind these new offerings and how they will benefit […]
Dialog approves nominee director from Axiata Group Berhad; 2Q profits up
Aug 09, 2018 (LBO) – Dialog Axiata has approved the appointment of Dato’ Mohd Izzaddin Idris as a Non-Executive Director to the board of Dialog, as a Nominee Director of Axiata Group Berhad effective from today. He is also a Non-Executive Director of Axiata Group Berhad and is currently the Group Managing Director and Chief […]
Singer revenue up 16-pct in 1Q
Aug 09, 2018 (LBO) – Singer (Sri Lanka) PLC announced a 16 percent increase in its revenue to 15.1 billion rupees in the first quarter of FY19 in spite of challenging business conditions, the Company said in a statement. While an improvement in the rural economy was noted in April-May, the company noted a lower consumer […]