Category: Industry
Seylan Bank records profit-after-tax of Rs. 3.1 Bn in 3Q 2018
The Bank closed the 9 months ending 30th September 2018 with a post-tax profit of Rs.3,138 Million, a moderate growth of 4.5 % over the corresponding period last year in the backdrop of challenging market conditions. The Bank increased its Net Interest Income and recorded a commendable growth of 14.4% to reach Rs. 13,013 Million […]
Virtusa Sri Lanka’s Madu Ratnayake appointed an Independent Director of HNB
Oct 26, 2018 (LBO) – Group CIO and the Center Head for Virtusa Sri Lanka Madura Duminda Ratnayake has been appointed as an Independent Non-Executive Director of Hatton National Bank.He is responsible for Virtusa’s global digital strategy and Virtusa’s Sri Lankan Operations.He is also responsible for enterprise digital business strategy and the core service delivery […]
Colombo District Land Price Index shows 16-pct increase despite rebasing
Oct 26, 2018 (LBO) – Land prices in the Colombo District during the first half of this year has recorded an increase of 16.3 percent compared to the first half of last year, despite the Central Bank rebased its index.Central Bank said they revised the base period of the index from 1998 to the first […]
Sri Lanka reiterates that Colombo East Terminal will not be given to any country
Oct 25, 2018 (LBO) – East terminal of Sri Lanka’s busiest Colombo port will not be given to any other country as it is being developed by the Sri Lanka Ports Authority, Port Minister Mahinda Samarasinghe reiterated today. In the master plan of Colombo port expansion project, the East Container Terminal (ECT) has a 1200m […]
Colombo Stock Exchange withdraws trading suspension on Adam Investments
Oct 25, 2018 (LBO) – Colombo Stock Exchange says the proposed trading suspension of the securities of Adam Investments will not be effective from 29 October 2018.The exchange further said the company has resolved the matters giving rise to the qualified opinion in the independent auditors report on the financial statements for the year ended […]
Blue Ocean Group lays foundation stone for yet another luxury condominium
Blue Ocean Group is pleased to announce yet another iconic luxury condominium project at No.35, Ramakrishna Road, Wellawatte, and the foundation stone laying ceremony took place at the site on the 11th of October 2018, headed by Sivarajah Thumilan, Blue Ocean Group Chairman in the presence of a large number of guests. The special event […]
Musical Chairs – Hemasiri Fernando to Chair the BOI
October 24, 2018 (LBO) – Presidents Chief of Staff and former People’s Bank Chairman Hemasiri Fernando will become the Chairman of Sri Lanka’s Board of Investment. Excerpts from his Bloomberg Executive Profile posted below: “Possessing diverse experience in varied genres, Mr. Fernando’s debut into the public sector was as Secretary to the Prime Minister.He later […]
Let us make this a starting point to double our revenue from tourism: PM
Oct 24, 2018 (LBO) – Sri Lanka should make Lonely Planet’s appreciation as a starting point to double the revenue from tourism, Prime Minister Ranil Wickremesinghe said. Delivering a special statement to the media on Wednesday, the premier said tourism has received a principal place in the country’s export economy since it can be one […]
‘s top 10 countries to visit in 2019
October 23, 2018 (LBO) – Sri Lanka has placed number one among the Lonely Planet’s top 10 countries to visit in 2019. According to Wikipedia, Lonely Planet is among the largest travel guide book publishers in the world. They have sold over 120 million books since inception (1972) and over 11 million of its travel […]
Sri Lanka’s first national SME study calls for apex Commission & licensing agency
Sri Lanka’s first ever nation-wide study on the country’s SMEs recommend an apex SME Advisory Commission integrating the three top national SME institutions under one roof. It also recommends Sri Lanka’s first ever SME Industrial Zone, a national SME portal ‘e-platform’, and an SME-only licensing agency on the lines of BoI. “I wish to thank […]
Sri Lanka introduces Business to Consumer direct transaction under E-commerce
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry as envisaged in the Budget-2018 has established a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers.Sri Lankan Customers do enjoy this B2C e-commerce facility via E-bay and other trading platforms but not vice versa.Accordingly, hereafter […]
Status of BOI Director General Duminda Ariyasinghe still uncertain
October 22, 2018 (LBO) – The status of the Board of Investment’s Director General (DG) Duminda Ariyasinghe remains uncertain. Last week the BOI had rejected reports that he had tendered his resignation. Other sources have said that he has been dismissed by the appointing authority, President Maithripala Sirisena. There has still been no official word […]