Category: General Services
CMTA appeals Customs to take action for Rs160mn duty loss on 13 Audi vehicles
Nov 18, 2019 (LBO) – The Ceylon Motor Traders Association (CMTA) appeals to the Sri Lanka Customs and the Ministry of Finance, to take the stronger action possible on the importer of 13 units of Audi A5 motor vehicles, and also on the customs officers who released the vehicles by wrongfully declaring the engine capacities. […]
Norges Bank exits from Access Engineering’s top 20 shareholders list
Nov 15, 2019 (LBO) – Norway’s sovereign wealth fund managed by the Norwegian Central Bank, Norges Bank has exited from Access Engineering’s top 20 shareholders list during the September quarter, the company’s interim data showed. Norges Bank held 13,973,487 shares as of 30 June 2019 and was its 14th shareholder in the top 20 shareholders […]
ADB gives USD150Mn for rural road development
Nov 15, 2019 (LBO) – Over 3400 kilometers of rural roads and 340 kms of national highways will be developed under the Second Integrated Road Investment Program funded by the ADB, the Finance Ministry said. In addition, improvement of capacity of road agencies with respect to safeguards, road safety, maintenance, research, road design and construction […]
Hayleys Group delivers improved performance in 2Q 2019/20
Nov 14, 2019 (LBO) – Sri Lanka’s diversified conglomerate, the Hayleys Group, posted improvements in turnover, operating performance and overall profitability during the 2nd quarter of 2019/20 supported by the strong performance of its export businesses. Meanwhile, the Group also recorded an improvement in turnover and operating profit for the 1H of 2019/20, although overall […]
Shangri-La Group completes One Galle Face, Group’s largest venture in South Asia
Nov 14, 2019 (LBO) – Seven years after it broke ground, the much-anticipated One Galle Face (OGF) integrated project was officially opened recently by President Maithripala Sirisena and by Shangri-La Group CEO, Lim Beng Chee. The opening ceremony was attended by local dignitaries and industry leaders. The event also marks the first time OGF officially […]
Opinion: Ban on tobacco cultivation: A blessing in disguise for Sri Lankan farmers
By Manoj Thibbotuwawa and Nimesha Dissanayaka While the topic of tobacco control is mentioned in some of the main presidential candidates’ manifestos, it is uncertain whether they will honour the commitment made in 2017 to ban tobacco cultivation by the end of 2020. All these promises come at a time when it is widely believed […]
Moody’s Analytics Knowledge Services rebrands as Acuity Knowledge Partners
Nov 13, 2019 (LBO) – Moody’s Analytics Knowledge Services announced its rebrand as Acuity Knowledge Partners (“Acuity”) following the completion of its management buyout from Moody’s Corporation, supported by the European mid-market private equity investor Equistone Partners Europe Limited (“Equistone”). Acuity, a leading provider of bespoke research, analytics and automation technology to the financial services […]
Dialog net profit declined 14-pct in Q3 2019 with non-cash translational forex losses
Nov 07, 2019 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in Mobile, Fixed Line, and Digital Pay TV, declined 14 percent to 1.5 billion rupees from a year earlier in the September quarter, interim accounts showed. The company said the decline in Group Net Profit After Tax is mainly due […]
‘s education in the 4IR : IPS
The profound impacts that an emerging fourth industrial revolution (4IR) will have on the future employment landscape underscore the crucial role of education and skills in preparing a workforce that can meet the needs of today’s and tomorrow’s labour markets. Indeed, education is at the heart of preparing present and future generations to succeed in […]
Sri Lanka economy to grow 3.5-pct in 2020: Central Bank
Nov 05, 2019 (LBO) – The Sri Lankan economy is projected to grow by around 3.5 percent in real terms in 2020, a new Central Bank report says. “The growth is expected to be broad-based and positively contributed by all major economic activities,” it says. “Further, investor confidence, which was adversely affected by domestic uncertainties, […]
Fitch affirms Melstacorp &”; outlook stable
Nov 04, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of Sri Lanka-based conglomerate, Melstacorp, and its subsidiary, Distilleries Company, at ‘AAA(lka)’. The Outlook is Stable. Fitch rates DIST based on the consolidated profile of Melstacorp due to strong legal and operational linkages between the two entities, as defined in our Parent […]
Opinion: Are we finally done taxing Aunty Flo?
By Nishtha Chadha One of the most talked about election promises this week has been Sajith Premadasa’s promise to distribute free sanitary hygiene products. Labelling himself as a #padman, Premadasa tweeted that “until sustainable cost-effective alternatives are found” he promises to provide sanitary hygiene products free of charge. Indeed, access to menstrual hygiene products is […]