Category: Industry
Sri Lanka Cricket reappoints Angelo as test and ODI captain
May 14, 2015 (LBO) – Sri Lanka Cricket has decided to re-appoint Angelo Mathews as the captain of the Sri Lanka national team for the test and ODI formats.Sri Lanka Cricket said the appointment follows a selection committee meeting held with national selectors.According to media reports his appointment is to commence from upcoming tour of […]
‘s Commercial Bank profits up 10-pct to 2.53bn rupees
May 14, 2015 (LBO) – Sri Lanka’s Commercial Bank reported a profit after tax of 2.5 billion rupees for the three months ended March 31, a rise of 10.1 percent from the same period last year, the bank’s interim results filled with the stock exchange showed. The growth in deposit and lower cost of funds […]
Sri Lanka’s Islamic banking and finance sector assets grow 42- pct in 2014
May 14, 2015 (LBO) – Sri Lanka’s Islamic Banking and finance (IBF) has grew 42 percent to 50 billion assets in 2014, Minister of Industry and Commerce said in a statement. In 2013 the total assets were 35 billion rupees. However the penetration is slow, Minister Rishad Bathiudeen said at a ceremony held in Colombo […]
Sri Lanka’s Central Bank to settle Golden Key depositors: Ravi K assures
May 13, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says that the Central Bank will take the responsibility of paying the defaulted Golden Key depositors after they withdraw their cases that are to be taken up on 18 May 2015.He made this comment following a meeting held with the depositors at the Finance […]
Sri Lanka’s online property portal Lamudi releases updated Android app
May 13, 2015 (LBO) – Sri Lanka’s real estate marketplace Lamudi has recently released an updated version of its Android app to make it easier for house-hunters to. Version 2.0 of the app, Lamudi: Property for Sale & Rent, offers overall better speed and performance, making it easier to browse through Lamudi’s global catalogue of […]
‘s authorities should be cautious when issuing building permits: Harsha de Silva
May 13, 2015 (LBO) – Sri Lanka’s Municipal councils and local authorities should be more cautious when issuing building permits to people in areas where there are high tension power cables, a Deputy Minister said.“People must get the correct approvals for the construction of their houses from the relevant Municipal council or authority,”Harsha De Silva, […]
Sri Lanka’s Hemas Hospitals chain gets new MD
May 13, 2015 (LBO) – Sri Lanka’s Hemas Hospitals said Lakith Peiris has been appointed as the chain’s new Managing Director with effect from 01st of April this year. He will overlook the three Hemas Hospitals at Wattala, Galle and Thalawathugoda and their 32 laboratories around the country. Peiris had also held the position of […]
Sri Lanka Gem exports targets to cross $1bn by end 2015
May 13, 2015 (LBO) – Sri Lanka plans to increase export of local gems to one billion US dollars by the end of the year, Sri Lanka Gem and Jewelry Association said in a media release.Sri Lanka will host the 16th Congress of the International Colored Gem Stone Association from May 16th to 19th at […]
”s Merchant Finance on negative watch; withdraws rating
May 12, 2015 (LBO) – Sri Lanka’s Fitch Ratings has placed People’s Merchant Finance, national long term rating of ‘BB+(lka)’ on rating watch negative and simultaneously withdrawn the rating. Fitch is withdrawing the rating as the People’s Merchant Finance (PMF) has chosen to stop participating in the rating process, issuing a statement Fitch Ratings said. […]
Sri Lanka will not have electricity tariff revisions in 2015: Minister
May 12, 2015 (LBO) – Sri Lanka’s Minister of Power and Energy says that there are no plans to increase the electricity tariffs this year.“We are not planning to increase the electricity tariffs during the course of this year,” Minister, Power and Energy, Patali Champika Ranawaka said. “This is because the Ceylon Electricity Board (CEB) […]
Sri Lanka’s President discuss 20th amendment with all political parties
May 12, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena Monday met leaders of all political parties and discussed the proposed electoral reforms at the Presidential Secretariat, President Office said.The cabinet paper pertaining to revise the electoral system, was also discussed at the meeting. The President informed all the party representative that in written suggestions […]
Sri Lanka DFCC, NDB merger off; revisit option left open: NDB CEO
May 11, 2015 (LBO) – Sri Lanka’s National Development Bank (NDB), Chief Executive told LBO that although the merger with DFCC is off the option to revisit will be left open.“We believe that the termination of the MOU will give both institutions the flexibility to pursue their respective business strategies while leaving open a window […]