Category: Industry
ComBank launches ‘Yasasa’ savings account exclusively for pensioners
The Commercial Bank of Ceylon has launched a savings account exclusively for government pensioners and their widows or widowers, to facilitate access to a host of special benefits the Bank provides to this segment. The ‘Yasasa Pensioners’ Savings Account’entitles pensioners below the age of 69 to apply for an advance of up to 75% on […]
Central Bank asks customers to register for e-payment notification facilities
Aug 01, 2019 (LBO) – Sri Lanka’s Central Bank is requesting customers to register for real-time e-payment notification facilities in order to prevent unauthorised electronic transactions. Releasing a statement, the bank also asked customers to obtain EMV chip-based payments cards from their respective Licensed Financial Institutions without delay and exercise caution when sharing information that […]
Teejay makes strong start to 2019-20
Teejay Lanka PLC has made a strong start to 2019-20, reporting excellent top and bottom line growth at Group and Company level through efficient capacity utilisation, an improved product mix and effective curbing of non-strategic costs. Sri Lanka’s only multinational textile manufacturer reported Group net profit of Rs 453.7 million and net profit of Rs […]
Seylan Bank records Rs 1.5Bn profit after tax during 1H 2019
Seylan Bank recorded a steady performance with Profits before Taxes reaching Rs. 3,476 Million for the 6 months ended 30th June 2019 against the Rs. 2,996 Million reported in the corresponding period of 2018 despite challenging market conditions and recent unexpected events that impacted the Sri Lanka economy. However, the Bank’s Profit after tax increased […]
Technology, Digital Transformation drives Sri Lanka’s future of business: IBM Forum
July 30, 2019 (LBO) – IBM today conducted an IBM Innovation Forum in Colombo that brought together business leaders to explore how they can leverage next-generation technologies for innovating at scale. The forum saw more than 250 attendees and was focused on bringing forward the business value of emerging technologies through a series of show-and-tell […]
PA warns of damage to local oil palm industry if seedling crisis not resolved soon
Jul 30, 2019 (LBO) – The Planters’ Association of Ceylon (PA) sounded the alarm on the escalating 500 million rupees oil palm seedling crisis, warning of dire and irreversible damage to the industry within the next 3 months if definitive action was not taken to reverse the de facto ban on oil palm cultivation and […]
Dentsu Grant Group launches Amnet operations in Sri Lanka
Jul 29, 2019 (LBO) – Dentsu Grant Group has announced the launch of Amnet, the programmatic expert from Dentsu Aegis Network, in Sri Lanka. Amnet is a trusted source for programmatic buying and audience management solutions. Amnet comprises a team of programmatic experts from the Dentsu Aegis Network, who specialize in programmatic buying, programmatic media planning, data […]
Sri Lanka Real Estate regains momentum with international and expat markets
Jul 29, 2019 (LBO) – Following recent marketing efforts by industry leaders as well as by the Sri Lanka Tourism Board Authority (SLTBA), Sri Lanka’s many affected industries including tourism, real estate and construction have begun to see a slow regain in momentum. Following on from the recent Sri Lanka Easter Attacks, several industries, alongside […]
Altair supports 2019 RCGC for 3rd year running
Jul 29, 2019 (LBO) – The revived RCGC Open, one of only two open golf tournaments conducted in Sri Lanka, and now titled the RCGC – Altair Open, is to be worked off over four days at the Royal Colombo Golf Club from 29th July – 1st August with the support of Altair, the event’s […]
Japan’s SBI group invests USD2Mn in Sunshine Energy
Jul 29, 2019 (LBO) – Japan’s SBI Group will be investing US 2 million dollars in Sunshine Energy to further expand on renewable energy production, a statement said. Sunshine Holdings PLC (CSE: SUN) announced that SBI Ven Holdings (Pte) Limited, the overseas private equity firm of SBI Holdings Inc., has invested US 2 million dollars […]
Srilankan Airlines corporate offices relocate to Airline Centre, Katunayake
July 26, 2019 (LBO) – All corporate offices of SriLankan Airlines which were located at the World Trade Centre, Colombo have now been relocated to its Headquarters at the Airline Centre, Bandaranaike International Airport, Katunayake. Accordingly, the addresses of the relocated corporate offices have been changed to ‘Airline Centre, Bandaranaike International Airport, Katunayake.’ whilst the […]
BOI issues directive to all Hub Operators banning importation of post-consumer materials
July 26, 2019 (LBO) – Sri Lanka’s Board of Investment has issued a directive to all Hub Operators prohibiting with immediate effect, importation of post-consumer materials and engaging in any resources recycling activities of any form. The BOI said in a statement that they will take stern action for any non-compliance of its directives and […]