Category: Industry
Virtusa Announces First Quarter 2017 Consolidated Financial Results
(PRESS RELEASE) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, reported consolidated financial results for the first quarter fiscal 2017, ended June 30, 2016. First Quarter Fiscal 2017 Consolidated Financial Results Revenue for the first quarter […]
Norwegian research vessel to assess Sri Lankan marine stocks in 2017
Aug 15, 2016 (LBO) – Norwegian funded research vessel is to visit Sri Lankan waters next year to carry out a marine stock assessment, Norwegian Prime Minister Erna Solberg said. This would be the first time an in-depth research on fish stocks and a marine survey covering the entire sea of the country conducted in […]
Usain Bolt completes amazing 100m treble in Rio
RIO DE JANEIRO, Aug 15 (Reuters) – For 9.81 glorious seconds on Sunday, all the ills that have dogged athletics recently were forgotten as Usain Bolt stormed to victory in the 100 metres final to become the first man to win three successive Olympic titles on the track. The Jamaican superstar trailed arch-rival Justin Gatlin, […]
Sri Lanka blocks sale of freehold land in USD1.4 bln Chinese deal
Aug 15, 2016 (LBO) – Sri Lanka’s government on Friday agreed a new version of its $1.4 billion real estate agreement with China after changing the terms and blocking the outright sale of land – part of a project covering a square mile right next to the capital’s port, Reuters reported. Since coming to power […]
Commercial Bank carries solid growth momentum into 2nd quarter of 2016
The Commercial Bank of Ceylon has extended its growth momentum into the second quarter of the year to record robust performance indicators for the six months ending 30th June 2016 amidst increasing costs of funds and shrinking margins. Sri Lanka’s benchmark private bank has reported profit before VAT and NBT of Rs 10.391 billion recording […]
Sri Lanka’s Ceylon Tobacco unit profits flat in June quarter
Aug 12, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco, rose one percent to 3.0 billion rupees in the June quarter, interim accounts showed. The firm reported earnings of 16.28 rupees per share for the quarter compared to earnings of 16.12 rupees per share posted a year ago. The share […]
SLT gets full landing status for SEA-ME-WE 5 in Matara
Aug 12, 2016 (LBO) – Telecommunications and ICT solutions provider, Sri Lanka Telecom PLC (SLT), says it has gained full landing status of SMW5 Cable Station in Matara. With this, Sri Lanka can offer the region “state-of-the-art global services provided through multiple international undersea cable systems,” SLT said in a statement. SLT’s International Backhaul Network […]
Sri Lanka gets USD128mn ADB loan for water and waste water management
Aug 11, 2016 (LBO) – The Asian Development Bank (ADB) will give a 128 million US dollar loan for a greater Colombo water and wastewater management improvement investment program to assist achieve providing safe water and full sanitation coverage. “The investment program will improve Colombo city dwellers’ quality of life and will cater to the […]
‘l Airlines
Aug 11, 2016 (LBO) – SriLankan Airlines has entered into a “wet lease” agreement with Pakistan International Airlines (PIA), owned by the government of Pakistan, whereby an Airbus A330-300 aircraft will be leased by SriLankan to PIA on Aircraft Crew Maintenance & Insurance (ACMI) basis. This means that the aircraft will remain under SriLankan registry and […]
Sri Lanka’s Hemas Holdings profits surge 68-pct in June quarter
Aug 11, 2016 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure and healthcare, has posted a equity holder profit of 696 million rupees in the June 2016 quarter, up 68 percent from a year earlier, interim accounts showed. The group reported basic earnings of 1.22 rupees per share for the quarter, […]
Sri Lanka’s HNB net up 41-pct in June quarter amid income growth
Aug 11, 2016 (LBO) – Group profits at Sri Lanka’s Hatton National Bank surged 41 percent to 3.3 billion rupees in the June 2016 quarter from a year earlier amid strong income growth, interim accounts showed. The group reported basic earnings of 8.56 rupees per share for the quarter, up from 6.19 rupees per share […]
Sri Lanka to get Singapore technical assistance for Megapolis
Aug 11, 2016 (LBO) – Sri Lanka’s government will sign a Memorandum of Understanding with Singapore’s International Enterprise Singapore to get assistance for the Megapolis project. “Some of the projects are complex and technically sophisticated projects and require the support of international experts,” a statement on cabinet decisions said. Therefore, considering the importance of exchanging […]