Category: General Services
Otara Gunewardene resigns from Singer Sri Lanka board
Oct 25, 2019 (LBO) – Otara Gunewardene has tendered her resignation from Singer Sri Lanka board which will be effective from 31 December 2019. The company said in a stock exchange filing that she does not have any relevant interests in shares of the Company as specified in the listing rules as at date. Joined […]
Central Bank to issue license cancellation notice to The Finance Company
Oct 23, 2019 (LBO) – Monetary Board of the Central Bank has decided to issue a Notice of Cancellation of the License issued to The Finance Company (TFC), with effect from today to safeguard the interests of the depositors and other creditors. Accordingly, the interest due for deposits will be paid continuously to the depositors […]
Fitch affirms Melstacorp &”; outlook stable
Oct 23, 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)’ with a stable outlook. Fitch said it rates Distilleries based on the consolidated profile of Melstacorp due to strong legal and operational linkages between the two entities, as defined in […]
Real-time online payment facility for BOI customers
Oct 21, 2019 (LBO) – The Board of Investment of Sri Lanka has taken another significant step forward where customers have the convenience of making their payments online directly to BOI, a statement said. This initiative is facilitated via LankaPay Online Payment Platform, a real-time and online payment platform of LankaClear. Such an initiative on […]
ICRA Lanka revises outlook on issuer rating of BoC to negative
Oct 21, 2019 (LBO) – ICRA Lanka Limited, subsidiary of ICRA limited, a group company of Moody’s Investors Service, has reaffirmed the issuer rating of Bank of Ceylon at [SL]AAA. The outlook on the rating is revised to negative from stable. Rationale The revision in outlook factors in BOC’s moderate capitalisation levels with steady decline […]
BOI enters into supplementary agreement with concrete poles manufacturer
Oct 18, 2019 (LBO) – Sri Lanka’s Board of Investment signed a supplementary agreement with Senaka Zenn (Private) Limited to set up a project to manufacture pre-stressed spun concrete electrical poles, piles and railway sleepers for both local and export markets. The initial investment made by the Company was 10.3 million US dollars. The Supplementary […]
Uber Eats marks first anniversary as online sales grow
Oct 18, 2019 (LBO) – Uber Eats, an on-demand food delivery app, has delivered more than 3 million orders and completed its first successful year of operations in Sri Lanka to become a dominant player in the market. Launched in Colombo in 2018, Uber Eats is committed to make eating effortless at any time and […]
Opinion: Cigarette smuggling in Sri Lanka, Hype vs. Reality
By Harini Weerasekera In the run up to elections, Sri Lanka is once again witnessing various news activities highlighting how the government is losing revenue due to increased consumption of illicit cigarettes and beedi. However, the wider government policy on tobacco control is aimed to reduce smoking rates and the related direct and indirect costs […]
EU-Sri Lanka dialogue addresses issues concerning European investments and achieving results
Oct 17, 2019 (LBO) – The Ministry of Development Strategies and International Trade hosted the 9th European Union – Sri Lanka investor dialogue, an instrument set up in 2017 to resolve issues faced by investors from the European Union operating in Sri Lanka under the Board of Investment. The high-level meeting, which promotes bilateral cooperation […]
Sri Lanka business registrations can now be done from home
Oct 11, 2019 (LBO) – Opening a new chapter in Sri Lanka’s private sector development, incorporation of a new company is now possible from the comfort of one’s own home. “Name reservation of companies could be obtained online. Company registrations and incorporations could be done online and there is no need for physical attendance at […]
Sri Lanka Retailer’s Association joins Asia counterpart
Sidath Kodikara President of Sri Lanka Retailers’ Association (SLRA) and Murali Prakash, Vice president of SLRA attended the 19th Asia-Pacific Retailers Convention and Exhibition (APRCE), which is held in September 2019, at Chongqing Yuelai International Convention Center, Chongqing, China. The theme of this year APRCE was ‘New Retail, New Consumption, New Dynamics – Cooperation and […]
CAL surpasses an LKR 100 Bn footprint in Investment Banking
Oct 10, 2019 (LBO) – Capital Alliance (CAL) has continued its reign as the market leader in Investment Banking services (Debt & Equity fundraising and Mergers & Acquisitions) with a transaction footprint of over 100 billion rupees in the past 24 months. With a focus on family businesses since its inception, CAL has been able […]