Fitch affirms rating of some Sri Lanka banks
Sep 03, 2019 (LBO) - Fitch Ratings has affirmed the long-term issuer default ratings (IDR) of the following Sri Lanka-based banks: National Savings Bank (NSB) …
Companies
Capitol TwinPeaks, calls for grading system to safeguard condominium buyers and lenders
Sep 02, 2019 (LBO) - Capitol TwinPeaks, the flagship residential venture of the Sanken Group, addressed a panel of industry peers at the ‘Future of …
Kia Motors revs up for growth with Rs.800Mn Malabe complex
Sep 02, 2019 (LBO) - Korean automaker KIA is to strengthen its presence in Sri Lanka with a distributor dealership model following the recent corporate …
Subdued economic growth drives negative outlook for Sri Lanka banking system: Moody’s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that its negative outlook for Sri Lanka’s banking system is driven by weak operating …
Sri Lanka prepares to pioneer USD50Mn fully-fledged Ocean University
Aug 30, 2019 (LBO) – Sri Lanka’s state-run job skilling apparatus, the Technical, Vocational Education Training (TVET) sector, is now poised to receive the …
Huawei launches Ascend 910, world’s most powerful AI processor
Aug 26, 2019 (LBO) - Huawei officially launched the world's most powerful AI processor, the Ascend 910 as well as an all-scenario AI computing framework, …
Central Bank to announce timeline for banks to reduce market lending rates
Aug 23, 2019 (LBO) – Sri Lanka's Central Bank with the expectation of reducing all market lending rates in line with the reduction already observed in …
Fitch rates Hatton National Bank’s Basel III sub-debt final A+(lka)
Aug 22, 2019 (LBO) – Fitch Ratings Lanka has assigned Hatton National Bank's proposed Sri Lanka rupee-denominated Basel III-compliant subordinated debentures …
Ceylinco Life reports 6-month net income of Rs.14.7Bn
Aug 21, 2019 (LBO) - Sri Lanka's Ceylinco Life reported a six month net income of 14.7 billion rupees with a premium income up 5.7 percent to 8.8 billion …
Fitch revises outlook on Singer Sri Lanka to negative; affirms at ‘A-(lka)’
Aug 21, 2019 (LBO) - Consumer-durables retailer Singer (Sri Lanka) PLC's National Long-Term Rating has been revised to negative from stable, a statement said. …
Sri Lanka unveils modern hi-tech TVET facility with South Korean backing
Aug 21, 2019 (LBO) – Backed by the global industrial giant South Korea, Sri Lanka launched its most modern national hi-tech training facility to-date on …
SEC files action against several individuals for market manipulation
Aug 20, 2019 (LBO) – Securities and Exchange Commission of Sri Lanka (SEC) has filed an action before the Fort Magistrate’s Court against several …
SLASSCOM and Norway sign collaboration agreement on ICT and entrepreneurship
Aug 20, 2019 (LBO) - The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a …
Softlogic Holdings report 7-pct growth in first six months 2019
Softlogic Holdings top line witnessed a 7% growth to Rs. 17.1 billion during the quarter ended JUNE 30, 2019 following the decline in consumer demand and …
Teejay extends partnership with University of Moratuwa
Teejay Lanka PLC, one of the largest knit fabric providers in South Asia, has announced an extension of its support to the University of Moratuwa for another …
Sri Lanka’s Hayleys to issue listed debt
Aug 13, 2019 (LBO) – Colombo Stock Exchange has approved in principle an application for listing the debt securities of Hayleys PLC. Hayleys said in a stock …
Sri Lanka looking at establishing direct flights to Cambodia
Aug 09, 2019 (LBO) – Sri Lanka is looking at the possibility of establishing direct flights to Cambodia and to enhance tourism and trade between the two …
Singer revenue in Q1, 2019 marginally down for previous year
Aug 09, 2019 (LBO) - Singer (Sri Lanka) PLC results for Q1 ended June 30, 2019 indicated a Group revenue at 13.9 billion rupees, when compared to 15.1 billion …
Hayleys records Rs.52.6Bn turnover in first quarter 2019/20
Aug 09, 2019 (LBO) - Hayleys PLC, demonstrated resilience in challenging conditions to record an improvement in turnover and operating performance during the …
Tea: July 2019 national average shows gains month on month
Aug 08, 2019 (LBO) - The national average for the month of July 2019 totalled 497.35 rupees against 494.48 rupees of June 2019, showing a marginal increase of …