Category: Companies
S&T Interiors Sri Lanka to debut first overseas project at Marriott Maldives
Sri Lanka’s most exclusive turnkey contracting and interior fit-out company, S&T Interiors Sri Lanka is rapidly nearing completion on its milestone project for the Marriott Maldives Resort and Spa. The project marks S&T Interiors Sri Lanka’s first first-ever international project and follows on several high-end domestic projects – from the Mövenpick City Hotel in Colombo […]
SriLankan Airlines CEO Suren Ratwatte retires amid Commission hearings
June 08, 2018 (LBO) – SriLankan Airlines CEO Suren Ratwatte has submitted a letter announcing his early retirement, few days after Presidential Commission on SriLankan and Mihin commenced witness hearings. Ratwatte appointed as the Chief Executive Officer of SriLankan Airlines and Mihin Lanka with effect from October 2015. Presidential Commission is to investigate alleged irregularities […]
Laugfs empowers future generations with Nana Maga Math camps
The LAUGFS Nana Maga Math Camps conducted in collaboration with the Ministry of Education marked another milestone of assisting over 1500 students to strengthen their mathematics knowledge through skill enhancement.The 10th programme was recently conducted in Matara with over 150 G.C.E. (Ordinary Level) students. The LAUGFS Nana Maga Math Camps project was launched last year […]
CSE transfers companies to Watch List due to non-submission of reports
June 07, 2018 (LBO) – Colombo Stock Exchange has transferred nine companies to their Watch List with effect from today due to non-submission of interim financial statements for the period ended 31 March 2018. Accordingly, Anilana hotels and properties, Adam capital, Tess agro, Ceylon & foreign trades, Janashakthi, Ceylon printers, Lucky Lanka milk processing, Office […]
Malik visits German Engineering Company at Katunayake BOI
Malik Samarawickrama Ministry of Development Strategies and International Trade visited the Kramski Lanka (Pvt) Ltd manufacturing plant at the BOI’sKatunayake Export Processing Zone. This German Enterprise was established in Sri Lanka in 1993 and has been engaged as a BOI project in the designing and manufacture of advanced products utilized in complex engineering processes. Kramski […]
ICRA Lanka assigns [SL] A1 rating to commercial paper programme of LOLC
June 06, 2018 (LBO) – ICRA Lanka Limited, aubsidiary of ICRA Limited, group company of Moody’s Investors Service, has assigned [SL] A1 rating to the 1,000 million rupees commercial paper programme of Lanka ORIX Leasing. Full text of the rating action is reproduced below. Rating action: ICRA Lanka Limited, Subsidiary of ICRA Limited, group company of […]
How to overcome three common challenges in software outsourcing
Outsourcing is an excellent way to cut operating expenses, but it is not a perfect tool. Businesses have reported having problems with their offshore teams due to poor quality work, frustrating delays and long hours at the office. Challenges from outsourcing include lack of communication, higher than expected costs and quality not matching expectations. However, […]
‘s Ritz-Carlton Tower ready by 2021
Jun 06, 2018 (LBO) – One Transworks Square (Pvt) Ltd together with Zhong Tian Ding Hui (ZTDH) Company announced that it’s 500 million dollar “THE ONE” investment’s first tower the Ritz-Carlton residences will be ready for occupation by 2021. The 80 storeyed 326 meter Ritz-Carlton Tower will house the Ritz-Carlton hotel and residences. The project […]
Swedish asset manager Tundra increases position in John Keells
June 05, 2018 (LBO) – Swedish asset manager in frontier markets, Tundra Fonder has increased their position in Sri Lanka’s largest company, John Keells.According to the May 2018 update of the Tundra Sustainable Frontier Fund, their position in John Keells has been increased from 1 percent to 2.5 percent. “John Keells, fell sharply in conjunction […]
‘s insurance industry growth to continue despite extreme weather: Fitch
June 05, 2018 (LBO) – Fitch Ratings expects the exposure of Sri Lanka’s non-life insurers to extreme weather-related events to be manageable due to extensive use of reinsurance. However, reinsurers are seen to be reducing ceding commissions to reflect the increased risk of catastrophes, Fitch Ratings said. “Sri Lanka has seen a recurrence of extreme weather-related […]
New MLA amendments to restrict financing fiscal deficit by Central Bank
June 05, 2018 (LBO) – Sri Lanka’s Central Bank said there will be new legislative amendments to Monetary Law Act (MLA) to restrict financing the fiscal deficit of the government by the Central Bank. Currently, the Central bank has been compelled to purchase Treasury bills in the primary market at times without regard to monetary […]
Presidential Commission on SriLankan, Mihin commences witness hearings
June 04, 2018 (LBO) – Presidential Commission appointed to look into alleged malpractices at SriLankan Airlines, SriLankan Catering, and Mihin Lanka commenced witness hearings today. The Commission will record statements from the head of Company Registrar and another official today. The IMF completing its 4th review, last Friday said it is essential for the authorities to […]