Category: Economy and Markets
Multi Finance to top up capital with Rs200mn private placement
July 20, 2018 (LBO) – Central Bank of Sri Lanka (CBSL) registered finance company Multi Finance is to increase its capital base by way of private placement. The Colombo Stock Exchange listed company is to raise Rs200mn at Rs13/share which is approximately the net asset value of the company. The shares will be placed with […]
Janashakthi Life’s high-flyers qualify for million dollar round table
Janashakthi Insurance PLC announced that 14 members from its Sales team had qualified for the prestigious Million Dollar Round Table (MDRT) membership in 2018. This continues Janashakthi’s long streak of double digit MDRT qualifiers. Amongst this year’s group are several 2nd and 4th time qualifiers including H L A Harshana from the Company’s Colombo City […]
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Jul 20, 2018 (LBO) – Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (A- (lka)/Stable) proposed senior unsecured redeemable debenture issue of up to LKR1.5 billion an expected National Long-Term Rating of ‘A-(lka)(EXP)’. The proposed debenture is rated at the same level as Singer’s National Long-Term Rating, fitch said. The full statement follows Fitch Ratings-Colombo-20 July […]
Nation Lanka Finance squeaks out a profit in the June quarter, deposits at Rs7.7bn
July 20, 2018 (LBO) – Colombo Stock Exchange listed company Nation Lanka Finance PLC (CSF) has turned a profit in the quarter ended June 30, 2018. The Central Bank of Sri Lanka (CBSL) registered finance company is the first listed finance company to report earnings for the quarter ended 20 days ago. The company reported […]
Construction industry future outlook positive, but challenges remain: RIU study
Jul 20, 2018 (LBO) – As a part of its ongoing research into the real estate and construction industry Research Intelligence Unit (RIU) conducted a survey among multifarious construction industry companies operating in Sri Lanka. Working with LECS, who recently held the 7th edition of their annual Construction Expo, the aim of this latest RIU […]
National Export Strategy: Sri Lanka targets USD28Bn in exports by 2022
Jul 20, 2018 (LBO) – Sri Lanka’s government unveiling the ‘National Export Strategy (2018-2022)’ in Colombo yesterday said it plans to increase the capacity of the local export sector while also improving trade performance and competitiveness. The five-year plan will help to make Sri Lanka a major regional export hub with the launch of this […]
Sri Lanka Trade Information Portal to be unveiled tomorrow
July 19, 2018 (LBO) – Sri Lanka will unveil one of the biggest initiatives in its international trade history when the Department of Commerce launches the World Bank supported Sri Lanka Trade Information Portal (SLTIP) on Friday in Colombo. World Bank supported Trade Information Portals (TIP) across the world provide information that traders need to […]
Anantaya Resorts and Spas receive TripAdvisor certificates of excellence 2018
Reaffirming its efforts toprovide an exceptional guest experience, Anantaya Resorts and Spas recently received the ‘Certificate of Excellence 2018’ from TripAdvisor.Offering a luxury experience amidst tranquil settings, the Anantaya Resorts in Pasikudah and Chilaw have consistently earned positive reviews from both local and international travellers. Commenting on the certificate received, LAUGFS Leisure Director/Chief Executive Officer, […]
AMCHAM presents insights on FDI and U.S. investor perspectives in Sri Lanka
Jul 18, 2018 (LBO) – In order to facilitate continued investment within Sri Lanka it is important to have clarity on the FDI landscape, and identify potential barriers as well as possible solutions, the American Chamber of Commerce (AMCHAM) in Sri Lanka said. The Chamber releasing a statement said that these are the key objectives addressed […]
Global businesses turn to Oracle blockchain service to speed transactions securely
Arab Jordan Investment Bank, CargoSmart, and Intelipost are among early adopters of enterprise-class distributed ledger service July 16, 2018 (media release) – Businesses around the world have been deploying an early adopter version of Oracle Blockchain Cloud Service, which becomes generally available today. The service allows organizations to easily build blockchain networks to drive more secure […]
Virtusa’s Kris Canekeratne selected as EY Entrepreneur of the year 2018
Jul 18, 2018 (LBO) – Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services announced that its Chairman and CEO, Kris Canekeratne, is a winner of the EY Entrepreneur of The Year® 2018 Award in the New England region for the Business Process Outsourcing category. The awards program took place on June 28, […]
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By Dr. Ganeshan Wignarajah Fixing Sri Lanka’s Labour Market: Comparative Lessons July 17, 2018 (LBO) – The recently published ‘Sri Lanka Development Update 2018’1 by the World Bank focuses on creating more and better jobs for an upper middle-income Sri Lanka. It usefully analyses the state of Sri Lanka’s labour market and identifies challenges to […]