Category: Industry
Tea top exporter Anverally and Sons wins 3 accolades
Recognised at Presidential Export Awards and National Chamber of Exporters’ Awards Anverally and Sons (Pvt) Ltd., one of Sri Lanka’s oldest and most respected exporters of tea, with a history of 129 years, won three prestigious awards on consecutive days last week, demonstrating the Company’s continuing dynamism. Currently ranked one of the largest tea exporters […]
Future of Sri Lanka Tourism
September 23, 2019 (LBO) – Prime Minister Ranil Wickremesinghe was the chief guest at the annual 2019 Cinnamon Hotels Future of Tourism Summit. The highlight of the summit was a discussion between the Prime Minister and CNN’s foremost international business correspondent Richard Quest, host of the program: Quest Means Business. The Summit was put together […]
Vehicle registrations marginally down in August 2019
Sep 23, 2019 (LBO) – Sri Lanka’s total motor car registrations recorded 2,385 units in August down from 2,584 units in July and significantly down from 7,003 units 12 months ago, a new report shows. Brand new cars recorded 361 units in August up from 299 units in July and significantly down from 890 units […]
Teejay grabs ‘Best Exporter Award –Textile Sector’ at Presidential Export Awards
Teejay Lanka PLC, Sri Lanka’s only multinational textile manufacturer, was adjudged the Best Textile Exporter in Sri Lanka at the 2019 Presidential Export Awards presented by the Export Development Board (EDB). The ‘Best Exporter Award –Textile Sector’ presented to the Company at the 23rd edition of this awards programme, marked Teejay Lanka’s debut at this […]
Enterprise Sri Lanka introduces mobile service islandwide
Sep 20, 2019 (LBO) – The Finance Ministry has made arrangments to reach the people and conduct Enterprise Sri Lanka mobile service island-wide in order to provide capital loans at subsidised interest rate for small and medium, self employment or industries. Accordingly, Enterprise Sri Lanka mobile service will be held at the Kirindiwela Maha Vidyalaya […]
CBSL permits Sinhaputhra Finance to implement proposed capital augmentation plan
Sep 19, 2019 (LBO) – Monetary Board of the Central Bank of Sri Lanka has decided to provide Sinhaputhra Finance with an opportunity to implement the proposed capital augmentation plan within the stipulated timeframe. Sinhaputhra Finance last month submitted an objection to the license cancellation notice issued by the Monetary Board saying that a capital […]
”’ final rating
Sep 19, 2019 (LBO) – Fitch Ratings has assigned a final ‘B’ rating to SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7 percent unsecured bonds due 25 June 2024. The rating agency said the final rating on the bonds is in line with the expected rating assigned on 19 June 2019, and follows the receipt […]
Mastercard Track to modernize USD125Tn global B2B payments market
Advances in technology and actionable real-time data are driving businesses to operate faster and smarter. Yet, business payments are often rooted in legacy practices established decades ago. Until now. Mastercard (NYSE: MA) today unveiled its plans to modernize the business-to-business (B2B) payment ecosystem with Mastercard TrackTM. The Track brand of products represents a transformational change […]
Central Bank cancels license issued to TKS Finance Limited
Sep 19, 2019 (LBO) – Sri Lanka’s Monetary Board of the Central Bank has decided to cancel the licence issued to TKS Finance Limited (TKSF) to carry on finance business with effect from today. The Central Bank said the financial condition of TKSF is not satisfactory due to deficient capital level, poor asset quality, continuous […]
Germany, an important donor and technical partner for Vocational Training: Fin Min
Sep 19, 2019 (LBO) – For over six decades, Germany has remained Sri Lanka’s most important donor and technical partner for Vocational Training, Finance Minister Mangala Samaraweera said. “I want to use this important occasion to specifically pay my gratitude to the Government and the people of Germany for this noble endeavor, ” he said […]
Sri Lanka GDP growth 1.6-pct in Q2
Sep 19, 2019 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) growth rate for the second quarter of 2019 has been estimated as 1.6 percent, a new report said. The GDP for the second quarter of 2019 at current price and constant (2010) price have reached up to 3,620,736 million rupees and 2,315,995 million rupees […]
PM’s says economy stabilizing: looking at leapfrog growth trajectory
Sep 18, 2019 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the government’s plans to put the island on a leapfrog trajectory to growth so that it can become the first advanced economy in South Asia. “We are now an upper-middle income country and do we want to stagnate in the middle-income trap or […]