Category: Companies
DFCC relaunches their credit cards
DFCC Bank relaunched their Credit Card range at a special event on 28 March at the Cinnamon Grand, Colombo amidst a large gathering of clients, prominent personalities, Directors, CEOs, top Executives and Business Leaders of the industry.Adding a nice twist to the event, a fashion show was staged depicting the variety of cards the Bank […]
Govt. nod for three local companies for vehicle emission test certification
Apr 12, 2018 (LBO) – Sri Lanka’s government has given approval of the cabinet of ministers to award the contract for issuing Vehicle Emission Test Certificates to three local firms, a statement said. “In accordance with the recommendation of Cabinet Appointed Negotiating Committee, to M/s Laugfs Eco Sri. Pvt/Ltd, M/s Cleanco Lanka (Pvt) Ltd and […]
Sri Lanka trade deficit expands over USD1bn in January; imports USD2bn
Apr 09, 2018 (LBO) – Sri Lanka’s trade deficit has expanded in January surpassing 1 billion US dollars for the second consecutive month due to significant level of imports offsetting the increase in export earnings. While earnings from merchandise exports increased, expenditure on imports also increased significantly outweighing the performance in export earnings during the […]
Blue Ocean Group of Companies has grown into versatile conglomerate
Blue Ocean Group of Companies Blue Ocean Group of Companies has grown into a versatile conglomerate over the years. The evolution of the group is significant because the Group has achieved growth and profit harmoniously and not by taking part in the aggressive competition in the field. Blue Ocean Group of Companies engage in Real […]
Sri Lanka targets pharmaceuticals self-sufficiency with new zone
Apr 03, 2018 (LBO) – Efforts to increase domestic and foreign investment in Sri Lanka’s pharmaceuticals industry is set to boost output, Oxford Business Group (OBG) said in its recent Sri Lanka economic update. OBG said latest measures will also broaden the sector’s product range, bringing the country closer to the government’s goal of self-sufficiency […]
Benefits of AWS Cloud Computing
Amazon Web Services(AWS) offers a secure cloud service platform, with ample compute power, database storage and myriads of other services that are vital to aiding a business scale and grow. To keep it short here’s why you need to join AWS and a few of the benefits it holds in store for your business.By the […]
Invest more in people, or risk extinction: Oracle’s Dalal tells SLASSCOM Summit
Apr 02, 2018 (LBO) – No matter how successful companies are today, they may risk extinction if they fail to invest in their employees and won’t transform with changing times, Head of HCM Cloud Applications (Asia Pacific) at Oracle Corporation, Yazad Dalal recently warned companies and business leaders. He advised companies to invest in the […]
Coca-Cola CEO meets Prime Minister in Sri Lanka
Mar 29, 2018 (LBO) – President and CEO of Coca-Cola, James Quincey has met with Prime Minister Ranil Wickremesinghe during his maiden visit to Sri Lanka.Affirming the company’s commitment to Sri Lanka, the company and its bottling partner has committed to contribute 50 million dollars into the ecosystem of the country over the next 5 […]
Thumps up from US on GSP for Sri Lanka and others
Mar 29, 2018 (LBO) – Sri Lanka will be regaining the United States Generalised System of Preferences (GSP) trade concession which expired on December 31, 2017.When President Donald Trump signs the budget bill on Friday the the US government will be re-authorizing the process. Other countries will also be benifitting from this scheme.Nearly 3,500 different products from Sri […]
‘s Orix sells Sri Lanka LOLC stake for Rs.12.8Bn
Mar 28, 2018 (LBO) – Sri Lanka’s LOLC Holdings, a firm controlled by Deputy Chairman Ishara Nanayakkara has purchased a 30 percent stake held by Japan’s Orix group for 12.8 billion rupees, Wednesday. The company bought 142,458,490 shares at 90 rupees per share, a company source said. The shares closed at 111.00 rupees on Tuesday. The […]
‘s Ideal Group in JV to assemble vehicles
Mar 28, 2018 (LBO) – Mahindra and Mahindra Ltd. (M&M) has announced the establishment of a Joint Venture (JV) with Ideal Motors Ltd. for assembling vehicles in Sri Lanka. M&M will invest up to 250 million rupees to form the joint venture, a statement said. The acquisition expected to be completed by April 2018 will see M&M […]
United Motors to dispose its shareholding in TVS Lanka
Mar 27, 2018 (LBO) – United Motors Lanka said its 50 percent shareholding in TVS Lanka is to be disposed for 1 billion rupees. United Motors in a stock exchange filing said they entered into a sale and purchase agreement with T.V. Sundaram Iyengar and Sons, India to dispose the entire shareholding of United Motors […]