Category: Industry
Expolanka Holdings top line grows 7 pct in June quarter
Aug 09, 2016 (LBO) – Expolanka Holdings, which operates in areas including logistics and leisure, said it recorded seven percent growth in revenue to 14.96 billion rupees in the June quarter, which was a resilient performance amidst challenges. With its strategic shift towards growth sectors in logistics and leisure, operating profit increased 20 percent to […]
Sri Lanka needs to accelerate broadband development: Harin
Aug 09, 2016 (LBO) – Sri Lanka’s government says that as the island embarks on a journey of transformation to become a digitally enabled and empowered society, the importance of having a robust fixed-broadband base to build upon is critical. “We strongly believe that this is indeed the ripe time to accelerate broadband development in […]
Sri Lanka’s Dialog Axiata net up 20-pct in June quarter
Aug 08, 2016 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 20 percent to 2.3 billion rupees from a year earlier in the June quarter, interim accounts showed. The group reported earnings of 28 cents per share for the quarter compared to 23 cents […]
‘t make it to semis at Rio Olympics
Aug 08, 2016 (LBO) – Sri Lankan swimmer Kimiko Raheem failed to make it to the semifinals of the Women’s 100m backstroke on Sunday. Raheem timed 1:04.21 in heats (28th) behind Kathleen Baker (U.S.) 58.84 seconds, Emily Seebohm (Australia) 58.99, Kylie Masse (Canada) 59.07 who led the timings. The Sri Lankan star swimmer won the […]
Deadline for EOIs for SriLankan, Mihin extended
Aug 08, 2016 (LBO) – The deadline for EOIs for the ‘Reorientation’ of SriLankan Airlines and Mihin Lanka have been extended by a week until August 31, a statement said. NSB Fund Management, a unit of state-owned National Savings Bank, is the lead manager, while BNP Paribas and KPMG are financial and transaction advisors in […]
PUCSL says gaps in new CEB generation plan, 300MW LNG approved
Aug 08, 2016 (LBO) – Sri Lanka’s power regulator Public Utilities Commission (PUCSL) has not given the full nod for the Ceylon Electricity Board’s (CEB) base case generation plan saying it has not addressed all the original concerns raised, the Commission said in a letter to the CEB. “The Commission is of the view that […]
Janashakthi Insurance records remarkable growth in 1H, 2016
Janashakthi Insurance PLC (Janashakthi) posted a consolidated Profit After Tax (PAT) of Rs. 630 million for the six months ended 30th June 2016, recording an impressive Year-on-Year growth of 198%. Consolidated Gross Written Premium (GWP) grew by 34% to Rs. 6.5 billion with the Company’s Non-Life segment leading the charge with 41% growth in GWP […]
Rio Olympics 2016 commence today, nine Sri Lankan athletes compete
Aug 05, 2016 (LBO) – Nine athletes from Sri Lanka have traveled to compete in eight events at the 2016 Summer Olympic Games which will officially begin in Rio today. The nine-member team will be captained by Anuradha Indrajith Cooray. The rest of the team includes, Niluka Rajesekara and Sumedha Ranasinghe as athletes; Mathew Abeyasinghe […]
‘s Rangana Herath takes hat-trick against Australia
Aug 05, 2016 (Reuters) – Rangana Herath became only the second Sri Lankan cricketer to claim a test hat-trick on the second morning of the second test against Australia on Friday. The left-arm spinner dismissed Adam Voges, Peter Nevill and Mitchell Starc off successive deliveries to achieve the feat. Former paceman Nuwan Zoysa was the […]
Sri Lanka tourist arrivals up 19-pct in July, crosses 1mn
Aug 05, 2016 (LBO) – Sri Lanka’s tourist arrivals in July were up 19 percent to 209,351, with China and India showing the strongest growth, the state tourism office said. Arrivals up to the first seven months rose 16.7 percent to 1.17 million visitors. India remains the largest source market with a 12 percent growth […]
Sri Lanka to look at new exports in boat building, pharmaceuticals, IT/BPO: EDB
Aug 04, 2016 (LBO) – Sri Lanka is seeking to expand its export basket as it is essential that the island looks at export diversification and finds new markets, head of the state export promotion office said. Indira Malwatte, head of Sri Lanka’s Export Development Board, said boat building is one such avenue that is […]
Local, foreign insurers to get equal opportunities with new law
Aug 03, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to finalize the draft bill on Regulation of Insurance Industry Act by adding amendments that provide a level playing field for foreign and local insurance companies. In 2013, the cabinet granted approval to make several amendments to the Regulation of Insurance […]