Category: Industry
IIT CodeSprint 4.0 fuels entrepreneurial spirit of undergraduates
May 23, 2019 (LBO) – Informatics Institute of Technology (IIT), has commenced CodeSprint 4.0, the fourth edition of the annual event that fuels the entrepreneurial spirit of undergraduates in Sri Lanka. Building on the success of CodeSprint 3.0 held last year, the IEEE Student Branch of Informatics Institute of Technology announced CodeSprint 4.0 to providean […]
News item titled “Pakistan’s trade with Sri Lanka comes to a halt” is fake: SL High Commission
May 23, 2019 (LBO) – Sri Lanka’s High Commission in Islamabad, Pakistan said the news item titled “Pakistan’s trade with Sri Lanka Comes to a halt” which appeared in The Express Tribune of Pakistan on 20 May 2019 is fake news. Releasing a statement, the High Commission said this fake news item has been published […]
Fishing For Sustainable Profits in the Northern Province
By Jekhan Aruliah I have so often heard from well meaning cash rich Diaspora that they can’t find sensible investment opportunities in the North. As the Good Book says, “seek and ye shall find”. For example, look at the Northern fisheries industry. It may surprise you to hear that the Northern Province has about 40%* […]
Hayleys revenue up 34-pct YoY to Rs.219Bn in FY 18/19
May 22, 2019 (LBO) – Sri Lanka’s Hayleys PLC, group revenue expanded by 34 percent yoy to 219 billion rupees while operating profit before interest increased by 40 percent yoy to 15.9 billion rupees in the financial year ended 31st March 2019 (FY18/19). The group earnings before interest, tax, depreciation and amortization (EBITDA) for FY […]
‘s Colombo port, countering China
May 21, 2019 (LBO) – Sri Lanka has agreed to jointly develop a container terminal at the Port of Colombo with Japan and India, countering China’s expanding Indian Ocean presence, foreign media reported. According to the Nikkei Asian Review, a memorandum of understanding will be signed in the coming months for the east container terminal […]
‘s private sector took a Pledge for Unity
May 21, 2019 (LBO) – Sri Lanka’s private sector representatives on Tuesday took a Pledge for Unity that they will work towards the goal of uniting people and inspire everyone in the country to do the same. The pledge was taken in all three languages by over 300 corporates who assembled for that purpose at […]
Ceylinco Life investment income grows by 16-pct to Rs.2.9Bn in Q1 2019
May 21, 2019 (LBO) – Steady growth of its life insurance business and strong investment gains have enabled Ceylinco Life to generate total income of 7.17 billion rupees in the first quarter of 2019, achieving healthy growth of 10.7 percent over the corresponding three months of last year. The life insurer has reported that premium […]
US Secretary of State Mike Pompeo meets Sri Lanka Foreign Minister
May 17, 2019 (LBO) – US Secretary of State Mike Pompeo met with Sri Lankan Foreign Minister Tilak Marapana yesterday, the Office of the Spokesperson at Washington revealed. The Secretary has reiterated the United States’ condemnation of the attacks that Sri Lanka suffered last month, which also killed five Americans, and strong US support for […]
Dipped Products posts healthy growth: Group pre-tax profit up 32-pct in 2018/9
May 17, 2019 (LBO) – Sri Lanka’s Dipped Products Group pre-tax profit was up 32 percent to 1,643 million rupees in 2018/9, the company said. The Group achieved a profit before tax of 1,643 million rupees for the year ending 31st March 2019, a growth of 32 percent over the previous year. Profit after tax […]
DFCC maintains profitability under volatile market conditions
DFCC’s Total Assets grew by LKR 15,652 million to LKR 390,560 million DFCC recorded Tier 1 and total capital adequacy ratios of 10.34% and 15.45% respectively DFCC’s Core Business recorded a PAT increase of 9%. Profitability Core business of DFCC Bank posted a profit before tax of LKR 1,585 million and profit after tax of […]
Nedal Salem takes helm of Ceylon Tobacco Company
May 16, 2019 (LBO) – Nedal Salem was appointed managing director andchief executive officer of Ceylon Tobacco Company PLC (CTC) effective 15th May 2019. During his career spanning over two decades at British American Tobacco (BAT), Nedal has held various senior Management roles in nine markets across three continents. He holds a Bachelor of Arts […]
Samsung customers can binge on free K-POP & other content via My Galaxy App
In exciting news for Samsung Galaxy customers, K-POP content is now available FREE on My Galaxy App on Samsung Galaxy smartphones. Increasing in popularity amongst younger customers, Sri Lanka has a large number of K-POP fans who can now enjoy hours of Korean dramas and K-POP music at their convenience and at no extra cost. […]