Category: Industry
‘s female unemployment on the rise
Aug 06, 2018 (LBO) – Sri Lanka’s unemployment in the first quarter of 2018, rose to 4.5 percent, up from 4.1 percent a year earlier, with female unemployment up to 7.4 percent in the quarter from 6.5 percent in 2017, official data shows. The estimated economically active population is about 8.3 million in the first quarter 2018. Of […]
Sampath Group pre-tax profit exceeds Rs10Bn for first half of 2018
(PRESS RELEASE) – Sampath Bank’s Group pretax profit for the first half of the year exceeded Rs 10.3 Bn (28.2% growth) while Sampath Bank recorded a pre-tax profit of Rs 9.9 Bn for the same period. This registered a YoY growth of 28.1% in comparison to the first half of 2017. Profit after tax of […]
LOLC Finance, Mobitel to offer Digital Loans to customers via mCash
Reinforcing its market leadership and strengthening its partner base, Mobitel has joined hands with LOLC Finance PLC to offer Digital Loans for the first time ever in Sri Lanka via its mCash platform. This initiative is a break-through method of providing a loan via one’s mobile device. Digital Finance Loans is a ground-breaking product for […]
Ceylon Motor Traders Association says they understand duty increase in small cars
Aug 03, 2018 (LBO) – Ceylon Motor Traders Association (CMTA) on Friday said they understand the Government’s policy decision taken recently to increase excise duties targeting the small motor cars segment. The Association said the excise duty structure that was proposed in the budget 2018 had a favorable differential for small motor cars which is likely […]
‘s Integrated Business Solutions
Aug 03, 2018 (LBO) – Fintek Managed Solutions (Pvt) Limited has announced its acquisition of the Integrated Business Solutions (IBS) unit of Brown and Company PLC. With this acquisition Fintek consolidates its role as the authorized distributor of Sharp office automation products and solutions in Sri Lanka. In a previous release detailing its role as […]
Sri Lanka keeps rates unchanged
Aug 03, 2018 (LBO) – Sri Lanka has decided to keep policy rates unchanged with the aim of stabilising inflation at mid-single digit levels in the medium term, thereby contributing to a high and sustainable growth trajectory of the island economy. “In arriving at its decision, the Board carefully considered the current and expected domestic […]
Finance Min calls for new regulatory body for Microfinance industry
Aug 03, 2018 (LBO) – Sri Lanka’s Finance Minister said that he is proposing the establishment of a new microfinance regulatory authority together with mandatory registration for the companies and amendments to the Act. “This is a national tragedy. It needs to be addressed in layers,” Mangala Samaraweera, Minister of Finance told reporters in Colombo, Thursday […]
Sri Lanka maritime industry players come together to resolve industry issues
Aug 02, 2018 (LBO) – Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also […]
Huawei seizes second place in global smartphone market in Q2
Aug 02, 2018 (LBO) – Huawei, a fast growing smartphone brand has seized second position in the global smartphone market with a total share of 15.8 percent in the second quarter of 2018 according IDC. Huawei invests into research and development (R&D) and over 10 percent of revenue is invested in R&D every year. According to Huawei’s […]
‘s Belluna launches leisure property in Galle
Aug 02, 2018 (LBO) – Sri Lanka’s Asia Leisure,in partnership with Belluna Co. Ltd, Japan opened its sixth leisure property ‘Le Grand’ in Galle recently. “Asia Leisure is one of the most widely recognized resort brands in the Country and together with Belluna Co. Ltd, Japan we are pleased to add this hotel to our family,” […]
Govt nod to call for bids in Mannar, Cauvery basins for oil exploration
Aug 01, 2018 (LBO) – Sri Lanka’s cabinet of ministers has given the go ahead to call for bid from international companies to explore oil and gas deposits in the north-western Mannar and Cauvery basins, a statement said. Experts have revealed that initial studies on offshore exploration, development and production activities in the two basins have […]
Susantha Ratnayake retires from Ceylon Tobacco Company
Aug 01, 2018 (LBO) – Chairman of the Ceylon Tobacco Company, Susantha Ratnayake has retired from the company with effect from yesterday after the completion of his term of five years as the Chairman and six years as a Non-Executive Independent Director.“During his tenure as a Director and Chairman of the Board, the Company as well […]