Category: General Services
BOI facilitates Japanese investors at meeting with Japanese chamber of commerce and industry
The Board of Investment of Sri Lanka hosted the annual Japan-Sri Lanka Government Private Sector Joint Forum for existing Japanese Companies based in Sri Lanka and operating projects under the BOI regime. This is the 8th such Forum where the BOI is hosting Japanese enterprises. The Forum is an ongoing process whereby Japanese investors […]
Sri Lanka’s Hemas Holdings March net profit down 3.5-pct
June 07, 2016 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure and healthcare has posted a shareholder profit of 744 million rupees in the March 2016 quarter, down 3.5 percent from a year earlier, interim accounts showed. The group reported basic earnings of 1.30 rupees per share for the quarter against […]
Sri Lanka’s Cargills net up 39-pct in March with improved margins
June 02, 2016 (LBO) – Profits at Sri Lanka’s Cargills group, with interests in retailing and fast moving consumer goods, rose 39 percent to 412 million rupees in the March quarter, the interim accounts showed. The group reported earnings of 1.84 rupees per share for the quarter against 1.33 rupees recorded in the previous year. […]
Restrictions on issuing passports to Sri Lankan citizens lifted: Foreign Ministry
June 01, 2016 (LBO) – Sri Lanka’s government has issued a circular ending the restrictions placed in March 2011 on the issuance of passports to Sri Lankan citizens resident abroad who, at different times, were compelled to leave Sri Lanka due to conflict or political reasons. Releasing a statement Foreign Ministry said in March 2011, […]
Minister Nimal Siripala de Silva heads Sri Lankan delegation at First World Humanitarian Summit
Minister De Silva, participating at the WHS representing President Maithripala Sirisena, stated that the UN Secretary General Ban Ki Moon’s “Agenda for Humanity” provides a strategic framework to prevent the humanitarian crisis and mitigate the effects. However, he stressed that action to implement the core responsibilities articulated in the WHS, should be aligned with the […]
Sunshine Packaging receives USD2mn foreign capital infusion
May 27, 2016 (LBO) – Sri Lanka’s Sunshine Packaging, a subsidiary of listed Sunshine Holdings, have been infused equity capital of 2 million US dollars by a Hong Kong company called Primeco Holdings. Sunshine Packaging Lanka said in a stock exchange filing that they have agreed to issue 23,766,671 new shares amounting to 40 percent […]
Sri Lanka’s Dipped Products acquires Italian glove marketer for Rs535mn
May 25, 2016 (LBO) – Dipped Products, a subsidiary of the Hayleys Group, today announced that it acquired the remaining stake of Italian glove marketer Icoguanti SpA for 535 million rupees. With this purchase, Icoguanti, which was a 6O percent owned subsidiary, has now become a wholly owned subsidiary of Dipped Products, the company said […]
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Fitch Ratings has affirmed Sri Lanka’s Dialog Axiata PLC’s (Dialog) ‘AAA(lka)’ National Long-Term Rating, a statement said. The Outlook is Stable. KEY RATING DRIVERS We upgraded Dialog’s standalone credit profile to ‘AAA(lka)’ from ‘AA+ (lka)’, based on its improving financial profile backed by its continued market leadership in Sri Lanka’s growing mobile and pay-TV segments. […]
CA Sri Lanka to teach Forensic Accounting to combat fraud
May 18, 2016 (LBO) – Sri Lanka’s Institute of Chartered Accountants has launched a course in Forensic Accounting to help combat fraud in the country, a statement said. President of CA Sri Lanka, Lasantha Wickremasinghe said that amidst increasing fraud and corruption, the institute has taken steps to ensure that public expectations are met with […]
Ceylon Chamber and A-PAD launch disaster relief campaign
May 17, 2016 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce and the National Platform of the Asia Pacific Alliance for Disaster Management (A-PAD) has launched an emergency relief campaign to help thousands of people affected due to prevailing bad weather. Accordingly, the Chamber appeals to its members and the business community to come forward […]
Colombo suburban railway electrification project to cost USD300mn
May 12, 2016 (LBO) – Colombo suburban railway electrification project phase one which initially focuses on 64 kilometers along Veyangoda – Panadura section will cost 300 million US dollars to implement. Energy consultant Dr. Tilak Siyambalapitiya speaking at a seminar said the project will support the modernization of the railway network in the Western Province […]
MasterCard announces new platform to enhance processing capabilities
May 11, 2016 (LBO) – MasterCard launched MasterCard Integrated, a payments processing services platform that powers it’s payment transaction services, the company said in a statement. “The platform enables issuers and acquirers to launch secure payments programs to their customers with greater speed and convenience,” a statement said. The card will now offer fully-integrated hosted processing […]