Category: Industry
Gihan Cooray appointed Chairman of Nations Trust Bank
Dec 13, 2018 (LBO) – Nations Trust Bank PLC has announced the appointment of Gihan Cooray as Chairman of the Board of Directors, with effect from December 1st 2018. Cooray takes over as Chairman following the retirement of Krishan Balendra who stepped down after having served the stipulated maximum 9 year tenure as a Director […]
Sri Lankan companies that provide childcare support show business benefits: Report
Dec 13, 2018 (LBO) – Businesses in Sri Lanka that offer childcare support to their employees can gain a significant positive impact on recruitment, retention and productivity of workers, especially women, according to a new report released by the International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with the United […]
How tourism growth affect real estate sector in Sri Lanka
By Lamudi Real estate and tourism are two different industries that correlate and influence on one another. Especially, by the end of the 30 year-long civil war, the country was able to resolve all its security issues, establishing confidence in entering different parts of the country for locals as well as tourists around the globe. […]
Expert Committee hands over report on Singapore-Sri Lanka FTA to President
Dec 11, 2018 (LBO) – The report compiled by a Presidential Commission on the Sri Lanka – Singapore Free Trade Agreement (FTA), was handed over to President Maithripala Sirisena Monday.In a tweet, President Sirisena said that the report highlights how the agreement had been rushed without the proper consent of stakeholder institutions.The presidential committee was chaired […]
Srilankan airlines shows slight dip in carbon efficiency rankings for 2018
Dec 12, 2018 (LBO) – SriLankan Airlines carbon Efficiency points (EPs) points were down to 55.6 points in 2018 from 56 points in 2017, the atmosfair Airline Index which compares and ranks the carbon efficiency of the 200 largest airlines of the world showed. This tool enables passengers to compare airlines offering flights to particular destinations […]
Softlogic Life completes victorious 2018 by becoming Sri Lanka’s most awarded life insurer
(PRESS RELEASE) – Ending the year on a winning spirit, Sri Lanka’s number one health insurer, Softlogic Life, has become the country’s most awarded life insurance company in 2018. Softlogic Life rewrote the history books recently after it was conferred with eight prestigious accolades at three of the most prominent industry awards ceremonies in Sri […]
Tourist arrivals to Sri Lanka up 17-pct in November despite political crisis
Dec 07, 2018 (LBO) – Tourist arrivals to Sri Lanka were up 16.8 percent to 195,582 in November from a year earlier despite the current political uncertainty in the country, official data showed. The largest source market for tourists is reported from India, followed by the United Kingdom and China and almost 94 percent of tourists […]
Sampath Bank Ranked One of Country’s Top Ten Corporate Citizens
(PRESS RELEASE) Also Wins Category Award for Governance at Best Corporate Citizen Sustainability Award 2018 Sampath Bank was recognized as one of Sri Lanka’s Top Ten Corporate Citizens of the year at the Best Corporate Citizen Sustainability Award 2018 held at the Cinnamon Grand, Colombo recently. The Bank was also adjudged the joint winner of […]
‘s macro economic conditions stable, Fiscal discipline required: CB Gov
Dec 06, 2018 (LBO) – Central Bank Governor Dr. Indrajit Coomaraswamy says that the islands debt situation is manageable and that no major destruction to the on- going economy development activities are foreseen, even though international rating agencies have downgraded Sri Lanka. “We are not going to crash, it can be managed through maintaining financial discipline,” […]
Fitch downgrades Sri Lanka financial institutions on sovereign downgrade
Dec 05, 2018 (LBO) – Fitch Ratings has downgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of the following Sri Lanka-based financial institutions following the downgrade of Sri Lanka’s sovereign rating: – National Savings Bank (NSB) to ‘B’ from ‘B +’; Outlook Stable – Bank of Ceylon (BOC) to ‘B’ from ‘B +’; Outlook […]
” on sovereign downgrade
Fitch Ratings has downgraded the Insurer Financial Strength (IFS) rating of Sri Lanka Insurance Corporation (SLIC) to ‘B’ from ‘B+’. The Outlook is Stable. The rating action follows the downgrade of Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+’ (see “Fitch Downgrades Sri Lanka to ‘B’; Outlook Stable,” dated 3 December […]
Sri Lanka tourism launches new brand to attract millennials : OBG
Dec 05, 2018 (LBO) – A rebranded Sri Lankan tourism industry is looking to increase visitor footfall through multi-pronged marketing efforts, while seeking to shake off concerns over recent political developments. Unveiled at London’s World Travel Market 2018, the slogan aims to capture the diversity, richness and authenticity of Sri Lanka, with a focus on young […]