Category: Industry
New Chairman for SLTDA; Kishu Gomes to focus on Sri Lanka Tourism brand promotion
May 15, 2019 (LBO) – Sri Lanka’s Tourism Minister John Amaratunga has appointed Johanne Jayaratne as Chairman of the Sri Lanka Tourism Development Authority (SLTDA). Jayaratne up to the time of his new appointment served as Managing Director of the Sri Lanka Tourism Promotion Board (SLTPB). Kishu Gomes who served in the position of Chairman […]
”; Outlook Stable
May 15, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka-based conglomerate Hemas Holdings PLC’s (Hemas) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. The affirmation of Hemas’ rating reflects the company’s improved business risk profile after the successful integration of Atlas Axillia (Private) Limited (Atlas), a leading school and office stationery manufacturer, which […]
Central Bank extends regulatory action on The Finance Company for another three months
May 15, 2019 (LBO) – Sri Lanka’s Central Bank has decided to extend the regulatory action currently in place on The Finance Company for another three months, in order to consider the business restructuring proposal submitted by the company. Monetary Board of the Central Bank initiated a number of regulatory actions, as temporary measures, on […]
Comm Bank records PAT of Rs.3.2Bn in Q1 2019: Performance reflects impact of external factors
May 15, 2019 (LBO) – Sri Lanka’s Commercial Bank of Ceylon PLC has reported gross income of 35.501 billion rupees for the three months ended March 2019, an improvement of 12.86 percent over the first quarter of 2018. Operating profit before impairment charges for the period represented an increase of 4.86 percent over the corresponding […]
Nations Trust Bank records subdued performance
May 15, 2019 (LBO) – The Bank’s performance during the quarter ending 31st March 2019 reflected a continuation of the issues witnessed in the previous few quarters with increasing non-performing loans and moderation of credit growth. The increased credit cost arising from both higher NPLs and policy changes relating to SLFRS 9 impairment provisioning added […]
Sri Lanka Tourism to start new series of promotional campaign from Thailand
May 15, 2019 (LBO) – Sri Lanka Tourism is planning to conduct promotional campaigns in source markets closest to the country. Accordingly, Thailand which shares a close relationship with Sri Lanka especially through Buddhism has been selected as the first country to carry out the new series of promotional campaigns. Sri Lanka Tourism will be […]
‘s only Dangerous Goods Storage Facility
May 14, 2019 (LBO) – Sri Lanka’s first, and South Asia’s most advanced, Dangerous Goods Storage Facility (DGSF) was commissioned on Friday, 10th May at the Colombo International Container Terminal (CICT) equipping the Port of Colombo with a sophisticated storage yard for cargo classified under the International Maritime Dangerous Goods (IMDG) Code. An investment of […]
Island-wide police curfew lifted : Call for calm from PM and armed forces
May 14, 2019 (LBO) – The island-wide police curfew which was imposed last night has been lifted at 4 am, Tuesday. Issuing a statement the Police Media Division said the curfew imposed on the North Western Province is still in effect. The curfew affecting the Gampaha police division has also been lifted. Police curfew was […]
Dialog record revenue of Rs.29.0Bn for Q1 2019
May 14, 2019 (LBO) – The Group continued its growth momentum across all key business segments, namely, mobile, international, tele-infrastructure, digital pay television and fixed line to record a consolidated revenue of 29.0 billion rupees for Q1 2019, demonstrating a growth of 2 percent quarter-on-quarter (“QoQ”) and 11 percent year-on-year (“YoY”). Underpinned by strong revenue […]
HNB Group records PBT of Rs 3.4Bn in 1Q 2019
May 14, 2019 (LBO) – Hatton National Bank posted a profit before tax of 3.3 billion rupees and a profit after tax of 2 billion rupees for the first quarter of 2019. HNB Chairman Dinesh Weerakkody Commenting on the performance noted that “amidst macroeconomic gains, Sri Lanka’s economic growth trajectory remains underwhelming and meandering below […]
Sri Lanka blocks Twitter for first time to prevent sharing harmful information
May 14, 2019 (LBO) – Sri Lankan authorities have taken steps to temporarily block the Twitter platform for the first time to stop sharing harmful information on social media. Other social media platforms including Facebook, WhatsApp, Instagram, YouTube, Viber, Snapchat and Facebook Messenger have already been blocked in the country from yesterday. Net freedom mapping […]
Sanken promotes property market at Singapore International Expo
May 13, 2019 (LBO) – Capitol TwinPeaks, a venture of Sanken Group, showcased their project at the SMART Investment and International Property Expo in Singapore., recently. The Sanken Group was present at the event representing not only Capitol TwinPeaks, but Sri Lanka’s real estate industry overall, in order to attract further investors, aiding in increased […]