Category: Industry
John Keells Properties partners with Union Assurance to provide life cover for TRI-ZEN customers
John Keells Properties signed a partnership agreement with Union Assurance –one of the country’s leading life insurance providers for corporates and individuals- to provide a comprehensive life insurance solution for TRI-ZEN customers. As part of this strategic alliance, TRI-ZEN customers will be offered a life insurance cover for LKR 7 Million, where the insurance premium […]
Aster residencies opens doors in Nugegoda
Aster Residencies (Pvt) Ltd completed construction of its flagship residential project, handing over brand new apartments to residents, many of whom are first-time homeowners. The complex has been designed to offer true affordability and trusted quality for people seeking upscale apartment living, consisting of modern amenities and high-quality finishes, coupled with quick access to Colombo […]
Sri Lanka raids and finds substandard lubricants products worth Rs. 2.5Mn
Feb 19, 2020 (LBO) – Sri Lanka carried -out an Island-wide raid on substandard and unauthorised lubricants products as the Consumer Affairs Authority (CAA) decided to investigate the importation, production, distribution and sale of lubricants and related products in Sri Lanka due to increase number of consumer complaints on low-quality lubricants in the market. Accordingly, […]
‘s corporate clients with new digital FX platform
Feb 18, 2020 (LBO) – Deutsche Bank today announced it is investing in Sri Lanka and launching a major push into the corporate client market, with the rollout of a new digitally-enhanced foreign exchange (FX) platform. The rollout marks the bank’s first step in introducing a comprehensive suite of digital FX solutions for our corporate […]
Sri Lanka trade deficit widens in Dec 2019
Feb 18, 2020 (LBO) – The deficit in the trade account widened in December 2019 to US dollars 784 million, from US dollars 701 million in December 2018, led by a decline in exports and a growth in imports on a year-on-year basis, the monthly external report said. However, on a cumulative basis, the trade […]
Sri Lanka vehicle registrations rebounds in Jan 2020
Feb 18, 2020 (LBO) – Sri Lanka’s total car registrations recorded 2,536 units in January up from 2,057 units in Dec but down from 3,147 units 12 months ago, a new report shows. “The recent policy interventions both in terms of fiscal policy (taxation) or capital moratoriums did not target vehicle registrations,” research firm JB […]
HNB Finance IPO oversubscribed on opening day
Feb 17, 2020 (LBO) – HNB Finance Limited’s initial public offering through an offer for sale of 10 million ordinary voting shares at 5.70 rupees per share was successfully oversubscribed on the opening date. As per the section 4.2.8 of the prospectus and introductory document, applications dispatched by courier or by post to registrars to […]
‘s Paragon Holdings launch augmented reality app
Feb 17, 2020 (LBO) – Paragon Holdings, specialising in outdoor advertising, TV & Radio advertising production, event management, and digital marketing announced the launch of their augmented reality application through Sri Lanka Augmented Reality (SLAR), recently in Colombo. SLAR has been launched as a member of Paragon and as a partner of UnifiedAR – an […]
MillenniumIT ESP carries out fastest Oracle ERP implementation for HNBA
MillenniumIT ESP – one of Sri Lanka’s leading Systems Integrator and Information Systems Provider – recently announced that it has successfully implemented the Oracle ERP Cloud platform for HNB Assurance (HNBA), a leading insurance service provider in Sri Lanka. The project was completed within a short span of 7 weeks, recording the fastest Oracle ERP […]
Hambantota Port observes employees returned from China before epidemic broke
Feb 17, 2020 (LBO) – With the coronavirus epidemic becoming a serious cause for concern, the Hambantota International Port (HIP) has put in place several measures to ensure the safety of their staff, environment, and the general public. Emergency Response Procedure is in place with 3 response levels. A special committee has been appointed headed […]
Construction of building complex in Colombo Port City to start by mid-2020
Feb 17, 2020 (LBO) – Construction of the building complex in Colombo Port City will commence in the middle of this year at a cost of 15 million US dollars and the first phase is expected to be completed by 2023, the President’s Media Division said. China Communication Construction will spend 1.4 billion dollars for […]
Sunshine Holdings’ reports PAT Rs.1.7Bn, up 32.3-pct YoY
Feb 17, 2020 (LBO) – Boosted by the divestment of its tea plantations, diversified Sri Lankan conglomerate Sunshine Holdings PLC (CSE: SUN) reported notable growth in bottom-line performances during the first nine months of the current financial year (9MFY20). During this period, the Group posted a consolidated revenue of Rs. 15.8 billion, delivering a 32.3% […]