Category: Economy and Markets
Sunshine Holdings records strong growth despite challenging market condition, Revenue up 10.3-pct
(PRESS RELEASE) • PAT improves sharply by 33.1% YoY to Rs. 1.6 billion • Healthcare revenue up 9.8% YoY to Rs 7.9 billion revenue • Agri revenue grew 3.2% YoY to Rs. 6.5 billion • FMCG revenue grew 22.5% YoY to Rs. 4.2 billion May 31, 2017: Sunshine Holdings PLC posted consolidated revenues of Rs. […]
Sri Lanka to obtain USD200mn loan from Pakistan
Jun 01, 2017 (LBO) – Sri Lanka’s cabinet has approved obtaining of a loan worth 200 million dollars from Pakistan for the financing of priority development projects. The loan will be utilized for housing construction, development of livestock, importing equipment required for agriculture and dairy production, and development of the Industrial Technology Institute. Former Finance […]
Four Sri Lanka state ministers, three deputy ministers take oaths
May 31, 2017 (LBO) – Several state ministers and deputy ministers took oaths before Sri Lanka’s President Maithripala Sirisena on Wednesday. The appointments are: Eran Wickremaratne – State Minister of Finance Lakshman Yapa Abeywardena – State Minister of Public Enterprise Palitha Rangebandara – State Minister of Irrigation Wasantha Senanayake – State Minister of Foreign Affairs […]
Unilever’s Project ArunellaWorks with Communitieson Sustainable Waste Management
Unilever’s Project ArunellaWorks with Communitieson Sustainable Waste Management (PRESS RELEASE) – Initiative Eliminates Garbage Dumps in Agarapathana Region Together With Authorities and Local Community The Arunella Waste Management project spearheaded by Unilever Sri Lanka’s CeyteaFactory in Agarapathanarecently achieved the complete elimination of waste being dumped in and around the KothmalaOya in the surrounding towns of […]
‘s economic success: Finance Minister
May 31, 2017 (LBO) – Sri Lanka’s newly appointed finance minister says to bring sustained investment and growth, Sri Lanka has to ensure peace and reconciliation while also setting up corresponding globally recognized regulatory mechanisms and investment practices. “Without reconciliation and durable peace, without guarantees of non-recurrence of conflict, Sri Lanka cannot achieve economic success,” […]
Foreign relief aid pledged to Sri Lanka after floods
May 30, 2017 (LBO) – Sri Lanka’s official flood death toll rose to 177 on Monday as the island sought international assistance. High Commissioners and Ambassadors from the United Kingdom, United States and Japan met with the newly appointed Foreign Minister Ravi Karunanayake and pledged their support in various forms of relief aid. Japan had […]
Verité wants govt to issue guidelines on e-signatures
May 30, 2017 (LBO) – Sri Lankan research organization Verité has called on the government to issue central guidelines to accelerate the acceptance of e-documents and e-signatures in Sri Lanka. Releasing a research note, Verité said issuing such guidelines, which apply to all government agencies, would be an efficient solution to inaction at the institutional […]
Virtusa Announces Fourth Quarter and Full Year 2017 Consolidated Financial Results
Fourth quarter fiscal 2017 revenue of $226.0 million increased 4.0% sequentially and 31.5% year-over-year. Fourth quarter fiscal 2017 diluted EPS was $0.34 on a GAAP basis, and $0.43 on a non-GAAP basis. Fiscal year 2017 revenue of $858.7 million increased 43.0% year-over-year. Fiscal year 2017 diluted EPS was $0.39 on a GAAP basis, and $1.25 […]
Lankem Ceylon acquires injection moulding firm for Rs150mn
May 26, 2017 (LBO) – JF Packaging Private Limited, a fully owned subsidiary of Lankem Ceylon, has acquired a firm engaged in the business of injection moulding. Lankem Ceylon said in a stock exchange filing that the acquisition of 100 percent stake in Alliance Five Private Limited took place Wednesday for 150 million rupees. Earlier […]
Ravi assumes duties as foreign minister, pledges to bring in more investment
May 26, 2017 (LBO) – Sri Lanka’s new Foreign Minister Ravi Karunanayake who assumed duties at the ministry Thursday pledged to focus on bringing in investment to the island. “We will focus on bringing in investment from counties like the US, India and China,” he told reporters in Colombo while accepting his duties. “Sri Lanka […]
‘s trade deficit widens substantially this year
May 26, 2017 (LBO) – Sri Lanka’s trade deficit widened substantially in the first two months of the year, while a moderation in tourist earnings and a modest growth in workers’ remittances resulted in a subdued external sector, the central bank said in a statement. “The deficit in the trade balance widened substantially to US […]
”s Investment Conclave
May 25, 2017 (LBO) – Sri Lanka will launch its ‘Private Public Partnership (PPP) Unit’ at the upcoming ‘Sri Lanka Investment and Business Conclave 2017’, which will take place 30th May to 1st June 2017 in Colombo. The unit formed with cabinet approval is mandated to source investment from both national and international private sectors […]