Category: Banking and Finance
‘s Seylan Bank net up 55.9-pct in June quarter
Aug 03, 2015 (LBO) – Sri Lanka Seylan Bank recorded a net profit of 1,089 million rupees in the June 2015 quarter up 55.9 percent from the same period in 2014, a filing with the stock exchange showed.The group reported earnings of 3.16 rupees per share up 53.7 percent from the same quarter last year.The […]
Sri Lanka to supply free domestic power connections to resettled families in the North and East
Aug 03, 2015 (LBO) – Sri Lanka’s government plans to restore provision of electricity connections free of charge to 20,000 resettled families in the North, Cabinet Spokeman Rajitha Senaratne said.At present, 232,828 families (796,342 members) are resettled in the Northern and Eastern Provinces, with the end of Tamil tiger war in 2009.The government will also […]
Sri Lanka to help Nepal renovate places of worship
July 30, 2015 (LBO) – Sri Lanka plans to send a group which is comprised of respective officers and technical craftsmen to Nepal to renovate places of worship which were damaged by the earthquake, the cabinet spokesman said. The Buddhist Temple in Swayambhunath and the Rato machindranath Hindu Kovil in Lalitpur, which were damaged by […]
‘s cricket world cup winners
July 30, 2015 (LBO) – India’s Shreepati Edifice (Pvt) Ltd, a real estate developer will build a 96-floor tower, the tallest building in Sri Lanka, with an investment of 330 million rupees which will be a tribute to the Sri Lankan Cricket Team who won the World Cup in 1996. The Tubular structured state-of-the-art iconic […]
Sri Lanka’s banking Industry should adopt new tech before it gets isolated: Aravinda Perera
July 27, 2015 (LBO) – Sri Lanka’s banking industry should make use of digital technology to improve customer service and to be on par with the competitive global payment industry, one of its banking leaders said. In today’s world it is not only a bank playing in the payment industry but also telcos, supermarkets and […]
Sri Lanka’s President to appoint special investigation commission on Golden Key
July 24, 2015 (LBO) – Sri Lanka is to appoint a special investigation commission to probe irregularities occurred in the Golden Key Company, President Maithripala Sirisena said.“I decided to appoint a special investigation commission headed by a retired judge on Golden Key Company after having discussions with Prime Minister and Finance Minister,” Sirisena told a […]
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 […]
Sri Lanka stocks close up 0.8-pct
July 22, 2015 (LBO) – Sri Lanka’s stocks closed up 0.76 percent on Wednesday with index heavy stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 54.04 points higher at 7,199.63 up 0.76 percent. The S&P SL20 closed 42.86 points higher at 4,037.83 up 1.07 percent. Turnover was 1.62 billion rupees, […]
Sri Lanka’s Planters’ Association says 1000 rupees wage offer cost Rs18bn annually
July 17, 2015 (LBO) – Sri Lanka’s Planters’ Association of Ceylon said it will cost 18 billion per year for the industry to pay the 1000 rupees wage hike offer for workers, a statement said.The Regional Plantation Companies (RPCs) recently proposed a productivity linked wage proposal and raise the daily pay to 1000 rupees in […]
Golden Key depositors to be paid July 24th: Ravi K
July 16, 2015 (LBO) – Sri Lanka’s Finance Minister, Ravi Karunanayake said that all the Golden Key depositors will be paid on 24th of July 2015.“We are paying the Golden Key depositors on 24th,” the Minister told reporters in Colombo, Thursday.“The exact amount to be paid has not yet been decided yet,” The Golden Key […]
Commercial Bank Bangladesh rated AAA: CRISL
July 16, 2015 (LBO) – Sri Lanka’s Commercial Bank, Bangladesh accorded AAA long-term credit rating by Credit Rating Information and Services (CRISL), a statement said. The full statement follows The AAA (Triple A) long-term credit rating accorded to the Bangladesh operations of Commercial Bank PLC has been reaffirmed by Credit Rating Information and Services Ltd […]
Sri Lanka’s People’s Merchant Finance removes CEO
July 14, 2015 (LBO) – Sri Lanka People’s Merchant Finance, a subsidiary of People’s Bank of Sri Lanka said it removed the Chief Executive Officer and director of the company following a directive of Monetary Board. The company said, that in term of section 25(1) (h) of the Finance Business Act, the Monetary Board has […]