Category: Industry
Opinion: Building a resilient food system in Sri Lanka in an age of pandemic
Manoj Thibbotuwawa COVID-19 is dealing an unprecedented blow to economies around the globe and the health risk is only the tip of the iceberg. Among the many impending crises resulting from the pandemic, rising food insecurity due to lockdown measures is one of the most critical. The 2020 Global Report on Food Crises highlights that […]
Commercial Credit appoints D Soosaipillai as new Chairman
May 26, 2020 (LBO) – D Soosaipillai, a pioneer in the leasing and financial services industry both in Sri Lanka and overseas was recently appointed as the new Chairman of Commercial Credit. He succeeds Cecil Perera, a finance industry veteran and senior attorney-at-law who chaired the Board before him and retired after the regulatory 9 […]
SLT clarifies situation regarding recent cyber attack on internal IT system
May 25, 2020 (LBO) – SLT says that they have detected an attempt of a cyber-attack, which has affected only a section of their internal IT systems. Releasing a statement, the telco firm said that their early warning systems detected the attempt, and precautionary measures with the shutdown of some servers have been implemented without […]
Central Bank cancels finance business licence of The Finance Company
May 22, 2020 (LBO) – Sri Lanka’s Central Bank has decided to cancel the finance business licence issued to The Finance Company (TFC), in terms of the FBA with effect from today. Accordingly, TFC is not permitted to engage in Finance Business under the Finance Business Act No.42 of 2011 (FBA) with effect from such […]
John Keells Holdings net profit down by 34-pct
May 21, 2020 (LBO) – The profit after tax attributable to equity holders of the parent for the financial year ended 31 March 2020 has been decreased by 34 percent to Rs.9.41 billion, annual report of the diversified conglomerate John Keells Holdings showed. Profit, however, has been adjusted for two one-off impacts thus recurring adjustments […]
Prime Group sets benchmark for real estate industry with credit rating of A- stable
Property magnet Prime Group makes history as the first institution in the Sri Lankan real estate industry to receive a prestigious issuer rating of [A-] Stable from ICRA Lanka, a group company of Moody’s Investors Service. The rating was awarded based on a consolidated view of the exceptional financial and operational linkages of Prime Lands […]
HNB Finance completes successful CSE listing
May 21, 2020 (LBO) – HNB Finance a financial services provider, announced that the company’s shares are now listed on the Colombo Stock Exchange under the Diri-Savi Board. The first to be listed in over two years, HNB FINANCE’s Initial Public Offering (IPO) via an Offer for Sale on the Colombo Stock Exchange, was oversubscribed […]
Ad agency’s utilise modern business model geared for ‘Work From Home’ to share cost-benefit with clients
News Publisher and Quire Sri Lanka, Business models geared towards managing agile working staff better equipped to manage COVID-19 lockdown For most Sri Lankans, since March 2020 the economic impact of the COVID-19 pandemic has led to a large-scale effort to promote “work-from-home” (WFH) along with the categorization of “essential workers”. Leaving several industries, including […]
Commercial Bank reduces lending rates of loans, leases, pawning & OD facilities
May 21, 2020 (LBO) – The Commercial Bank of Ceylon has announced a reduction of lending rates across the board in response to the present needs of individual and corporate borrowers and in line with the downward trend of interest rates in Sri Lanka. Effective immediately, the rate cut encompasses all categories of new loans […]
Fitch affirms &’s ratings
May 20, 2020 (LBO) – Fitch Ratings has affirmed and withdrawn Sri Lanka-based National Savings Bank’s (NSB) Long-Term Issuer Default Rating (IDR) of ‘B-‘ with a Negative Outlook. The affirmation of NSB’s IDRs, Support Rating and Support Rating Floor reflects that there have been no material changes from the last review on 5 May 2020. […]
Opinion: Sri Lanka’s IT-BPM industry resilient in the face of COVID-19
SLASSCOM “Drifting the curve” is the SLASSCOM industry strategy for building momentum to come out of the “corner” (current situation) stronger. When race car drivers approach a bend on the track, unlike ordinary drivers who slow down, they accelerate. This is known as “drifting the curve.” It’s all about how much momentum you have when […]
Developing Galle harbor into a Global Crew Exchange Hub explored
May 18, 2020 (LBO) – Sri Lanka is exploring the possibility of developing the Galle harbor into a Global Crew Exchange Hub by creating an environment for sailors to return to their respective countries via the Island. This was discussed during a meeting with the representatives of leading local shipping companies at the Presidential Secretariat, […]