Category: Companies
COVID-19 outbreak likely to affect Sri Lanka’s economic performance : Central Bank
Mar 05, 2020 (LBO) – The exact impact on the Sri Lankan Economy would depend on the extent of the global spread of the COVID-19 outbreak, its persistence and policy responses of major economies and trading partners, the Central Bank said. “Sri Lanka’s economic links with China could be directly affected as significant volumes of […]
Policy interest rates of Central Bank of Sri Lanka to remain unchanged
Mar 05, 2020 (LBO) – The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 March 2020, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 6.50 percent and 7.50 percent, respectively, and […]
Sri Lanka national tea sale average up in Feb 2020; Highest since April 2018
Mar 05, 2020 (LBO) – National average for the month of February 2020 totalled Rs. 601.91 vis-à-vis Rs. 588.85 of January 2020, showing an increase of Rs. 13.14 month on month. In comparison to February 2019 average of Rs. 581.96, shows an increase of Rs. 20.03 YOY. When analysing the respective elevational averages for the […]
Our people-centric economic model aims at overcoming development slowdown:President
Mar 05, 2020 (LBO) – Accelerating our economic development is the primary challenge facing Sri Lanka today and most of the security issues that Sri Lanka has faced over the years have been due to the exploitation of the economically disadvantaged, President Gotabaya Rajapaksa said. The proposed people-centric model takes this factor into account, said […]
Sri Lanka Finance companies face added regulatory pressure
Mar 03, 2020 (LBO) – Sri Lanka’s finance and leasing sector will face added pressure for consolidation as deadlines for the implementation of tougher capitalisation requirements approach in 2021, says Fitch Ratings. We view further consolidation of the sector as positive for financial sector stability in Sri Lanka, but the process could be impeded by […]
Sanjaya Mohottala assumes duties as DG, BOI
Sanjaya Mohottala yesterday assumed duties as the new Director General of the Board of Investment of Sri Lanka. Mohottala was a Managing Director and Partner at the Boston Consulting Group.He was responsible for corporate development, principal investors and private equity practices and led the Transport and Logistics practice across Asia-Pacific.He holds a BSc. from Moratuwa […]
Securities and Exchange Commission DG removed with immediate effect
Mar 02, 2020 (LBO) – Securities and Exchange Commission (SEC) Director General (DG) Vajira Wijegunawardane, appointed in 2015 with an overall service to the SEC for 13 years has been removed from the post with immediate effect. The decision to remove Wijegunawardane was by the Commissioners of the SEC SEC Director Litigation Chinthaka Mendis has […]
‘s healthcare expansion to diversify cash flow: Fitch Ratings
Feb 28, 2020 (LBO) – Melstacorp PLC’s foray into the Sri Lankan healthcare industry will help diversify its cash flows away from its focus on spirits over the longer term, Fitch Ratings says. Full statement Melstacorp agreed on 20 February 2020 to buy Browns Health Care (Pvt) Ltd, which operates a 70-bed multi-speciality hospital in […]
International festival of creativity, ‘Epica Awards Sri Lanka’ debuts 5-6 March
Feb 26, 2020 (LBO) – For the first time in Epica Awards’ 33 years history, Epica Awards Sri Lanka will take place between the 5th and 6th of March 2020. Epica Awards is the only global award show judged solely by journalists. With over 200 journalists on the judging panel and over 4,000 entries submitted, it is […]
HNB clinches top spot on Business Today rankings
HNB PLC secured the No. 1 ranking on the prestigious ‘Business Today Top 30’, further consolidating on a remarkable reputation for excellence and a legacy of innovation in the Sri Lankan banking industry. The award was presented to HNB Chairman, Dinesh Weerakkody and HNB Managing Director/CEO, Jonathan Alles by Chief Guest at the Business Today […]
Ford Foundation partners with Lankan Angel Network to grow startup ecosystem
Feb 25, 2020 (LBO) – The Lankan Angel Network (LAN) today announced that it has signed a landmark grant agreement with the Ford Foundation to catalyze the growth of Sri Lanka’s startup ecosystem. The grant of USD 300,000 is the first of its kind for the Ford Foundation in Sri Lanka and will be utilized […]
New ADB head pledges to support development in public and private sectors
Feb 25, 2020 (LBO) – The new Asian Development Bank (ADB) Country Director in Sri Lanka, Chen Chen, assumed office in Colombo Monday. “I am honored to assume the role of Country Director at ADB’s Sri Lanka Resident Mission. I have had the opportunity of managing ADB’s transport sector portfolio in Sri Lanka in the […]