Category: Industry
Sri Lanka explores tourism market potential in Switzerland
Nov 06, 2018 (LBO) – The Sri Lanka Mission in Geneva in collaboration with Sri Lanka Tourism Promotion Bureau organized the islands participation at a tourism exhibition in Switzerland. iViaggiatori is the prestigious tourism event that takes place annually in the Italian speaking canton in Switzerland, and is recognized as one of the prominent tourism trade fairs in […]
Asiri buys Hemas Southern Hospital for Rs.450Mn
Nov 06, 2018 (LBO) – Asiri Hospital Holdings Plc, a subsidiary of Softlogic Group acquired Hemas Southern Hospitals for 450 million rupees, a statement said. In a Stock Exchange filling the company said that the decision to enter into this transaction brings tremendous synergy to the Asiri group with the existing hospitals and laboratories of Asiri in […]
Nations Trust Bank records post-tax profit of Rs.2, 918Mn
Nov 02, 2018 (LBO) – The Bank closed the nine months ending 30th September 2018 with a post-tax profit of Rs.2, 918Mn with standing multiple challenges as witnessed across the industry with increasing non-performing loans, tightening of liquidity and moderating credit growth which particularly hindered the performance for the quarter. The Bank realigned its resources in […]
Foreign Minister Amunugama says “no justification for changing Travel Advisories”
Nov 02, 2018 (LBO) – Foreign Minister Dr. Sarath Amunugama, said that there was no justification for the Travel Advisories issued by a few countries since there have been no incidents of violence or disruption in the country following the recent events. The Minister made these observations when he met with the leading inbound tour operators, […]
Sri Lanka Finance Minister cuts fuel prices under new economic programme
Nov 01, 2018 (LBO) – Given the impact of fuel pricing on all strata of the society especially those engaged in transport, agriculture and fisheries sectors, prices of fuel have been reduced with effect from midnight today.Accordingly, Petrol (Octane 92) will be reduced by 10 rupees per litre, Auto Diesel by 7 rupees per litre […]
Teejay 6-month net profit up 20-pct to Rs.705Mn
Nov 01, 2018 (LBO) – Sri Lanka’s Teejay Lanka PLC, a textile manufacturer, has reported sales of 14.4 billion rupees and profit after tax of 704.8 million rupees at Group level for the six months ending 30th September 2018. This reflects a healthy growth of 25 percent and 20 percent respectively for the period, the […]
PropertyGuru doubles down on Southeast Asia with funding round
(PRESS RELEASE) Group bolsters its regional leadership with the new funding and full consolidation of Vietnam’s No. 1 property portal, Batdongsan.com.vn SINGAPORE, 31 October 2018 – PropertyGuru Group (‘PropertyGuru’ or ‘the Group’), Asia’s leading property technology group, today announced that it has secured S$200 million (approx.) [US$145 million] in a Series D round of funding […]
Foreign Minister meets Heads of Mission of SAARC countries
(PRESS RELEASE) – Foreign Minister Dr. Sarath Amunugama met the Ambassadors and High Commissioners of SAARC countries and their representatives at his office today (31). Heads of Mission and their representatives of Afghanistan, Bangladesh, Nepal, India, Maldives and Pakistan were present on this occasion to discuss matters of mutual interest. The Secretary to the Ministry […]
LVL Energy Fund set to expand portfolio with 7 new solar power plants
Leading energy company and a subsidiary of Lanka Ventures, the LVL Energy Fund PLC is set to expand its alternative energy footprint with the development of seven new solar power projects. The plants will be set up in partnership with First Energy SL (Pvt) Ltd, in strategic locations across the island and will have a […]
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 […]