Mobitel introduces latest Apple iPad 2 and watch
As the authorized reseller for apple devices ranging from iPhones, iPads, Apple watches, Mobitel is introducing the next generation Apple iPads and Apple Watch …
Companies
Commercial Bank profits marginally up in December quarter
Feb 24, 2020 (LBO) – Sri Lanka’s Commercial Bank group reported a net profit of 5.9 billion rupees showing a marginal improvement of equity holder’s …
Pan Asia Bank records its best-ever financial results
Pan Asia Banking Corporation PLC, “the Truly Sri Lankan Bank” ended 2019 Q4 with its best financial results ever, to report a Post Tax Profit of Rs.726.84 …
NDBIB wraps up 2019 with Rs.62Bn in Capital raisings
Feb 20, 2020 (LBO) - NDB Investment Bank (NDBIB) continued to execute milestone transactions in 2019, reiterating its position as the unrivalled leader in …
Sri Lanka’s Dialog Axiata inks USD 250Mn investment agreement with BoI
Feb 19, 2020 (LBO) - Dialog Axiata Group, the largest Foreign Direct Investor (FDI) operating under the aegis of the Board of Investment of Sri Lanka (BOI), …
John Keells Properties partners with Union Assurance to provide life cover for TRI-ZEN customers
John Keells Properties signed a partnership agreement with Union Assurance -one of the country’s leading life insurance providers for corporates and …
Sri Lanka vehicle registrations rebounds in Jan 2020
Feb 18, 2020 (LBO) - Sri Lanka's total car registrations recorded 2,536 units in January up from 2,057 units in Dec but down from 3,147 units 12 months ago, a …
HNB Finance IPO oversubscribed on opening day
Feb 17, 2020 (LBO) - HNB Finance Limited’s initial public offering through an offer for sale of 10 million ordinary voting shares at 5.70 rupees per share …
Sri Lanka’s Paragon Holdings launch augmented reality app
Feb 17, 2020 (LBO) - Paragon Holdings, specialising in outdoor advertising, TV & Radio advertising production, event management, and digital marketing …
Sunshine Holdings’ reports PAT Rs.1.7Bn, up 32.3-pct YoY
Feb 17, 2020 (LBO) - Boosted by the divestment of its tea plantations, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported notable …
Sri Lanka’s Hemas Group profit down 5-pct in 3Q amid on-going recovery
Feb 14, 2020 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure, and healthcare has posted a shareholder profit of 974.7 million …
Sri Lanka performs poorly on economic freedom: Focus on open trade crucial: Advocata
Sri Lanka currently ranks 104 out of 162 countries for Economic Freedom (Economic Freedom of the World Index, 2019). This is a 7 step drop from last year’s …
Hayleys Group records 41-pct profit growth in Q3
Feb 13, 2020 (LBO) – Sri Lanka’s diversified conglomerate, the Hayleys Group, demonstrated strong resilience in the 3rd quarter of 2019/20 to achieve a 41 …
Fitch rates DFCC’s Basel III sub-debt A+(EXP)
Feb 13, 2020 (LBO) – Fitch Ratings has assigned DFCC Bank's proposed rupee-denominated Basel III-compliant subordinated debentures an expected National …
Ogilvy Digital, now a behavioural change company
Neo@Ogilvy, Sri Lanka’s first and largest full service specialized digital media agency announced today its transformation into ‘Ogilvy Digital’, to …
Dipped Products reports Rs. 23.2Bn Group turnover for nine months ending Dec 2019
Feb 13, 2020 (LBO) - Hayleys Group’s subsidiary Dipped Products PLC (DPL), a glove maker, reported 23.2 billion rupees Group turnover for the nine months …
WHT removal, a progressive step for MSMEs: Colombo Chamber of Commerce
Feb 12, 2020 (LBO) – Removal of withholding tax on salaries, interest, rent, and dividends is a progressive step for Micro, Small and Medium-sized …
Fitch affirms HNB Finance at A(lka); outlook stable
Feb 12, 2020 (LBO) – Fitch Ratings Lanka has affirmed HNB Finance Limited's (HFL) National Long- Term Rating at 'A(lka)' with a stable outlook. The agency …
Land an investment tool: Creates greater appeal for affluent
Land has been a commodity that has been looked upon as an investment for generations. The general understanding is to obtain land for housing or commercial …
Sri Lankan Airlines corruption scandal reveals need for deeper structural reform in SoEs : Advocata
Weak governance has led to large scale corruption in state enterprises. Sri Lankan airlines has made Rs. 169 billion in losses since nationalisation in 2009. …