Category: Industry
PUCSL to resolve consumer complaints and address lube and electricity industry inquiries online
Jun 01, 2020 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator and the shadow regulator of the lubricant industry is all set to resolve the electricity consumer complaints and address stakeholder issues via online and request the public and the stakeholders to use the online platforms to be connected […]
Dialog Axiata gifts fully-functional ICU at Negombo General Hospital to public
Jun 01, 2020 (LBO) – Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, in less than a month, concluded the immediate civil reconstruction and provision of equipment to establish a fully functional Intensive Care Unit (ICU) at the Negombo District General Hospital. This concludes the first step taken in the pledged Rs. 200 Million towards the urgently required […]
Reducing health costs and increasing Government revenue beyond COVID-19: Raising cigarette taxes
Harini Weerasekera and Chamini Thilanka The susceptibility of smokers to contract COVID-19 has been recognised by the World Health Organisation (WHO) and other medical authorities. In Sri Lanka, concerned parties have called for a temporary ban of cigarette sales as a measure to contain the spread of the virus – a commendable move. However, beyond […]
Thailand Prime Minister leads National committee to promote 5G development
May 26, 2020 (LBO) – A 26-member National 5G Committee has been formed with Thailand Prime Minister Prayut Chan-o-cha as chairman to coordinate the 5G development and boost the digital economy in the country. The committee is also tasked with mitigating obstacles regarding the recall of unused spectrum, from state agencies for the National Broadcasting […]
Proposal to reopen Airports for tourists from August
May 26, 2020 (LBO) – The Task Force Committee entrusted with COVID – 19 control proposed to President to reopen airports for foreign tourists from 1st August as the country is gradually returning to normalcy. The Committee members pointed out that it is a remarkable achievement that not a single infected person was reported from […]
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 […]