Category: Industry
Janashakthi Insurance PLC reports consolidated Profit After Tax (PAT) of Rs.358 mn for March 2016
Janashakthi Insurance PLC (Janashakthi) reported a consolidated Profit After Tax (PAT) of Rs.358 million for the quarter ended 31st March 2016, a marked Year on Year (YoY) growth of 236%. The Insurer posted these numbers on the back of a 32.8% rise in consolidated Gross Written Premium (GWP) amounting to Rs.3.3 billion for the period […]
Citizens Development Bank announces Rs1bn debenture issue
May 18, 2016 (LBO) – Sri Lanka’s Citizens Development Business Finance PLC (CDB), a licensed finance company, said it will issue one billion rupees in listed rated subordinated guaranteed redeemable debentures. “The main objective of the debenture issue is to raise funds for CDB to strengthen its Tier II Capital and grow its lending book,” […]
Italy to explore apparel, renewable energy prospects in Sri Lanka
May 18, 2016 (LBO) – Deputy Foreign Minister of Italy Senator Benedetto Della Vedova will make an official visit with a business delegation to Sri Lanka from today to 19 May 2016, the Foreign Ministry said. A four-member business delegation with interests in the apparel industry and renewable energy from Euro Green Power Ltd, Moving […]
CA Sri Lanka to teach Forensic Accounting to combat fraud
May 18, 2016 (LBO) – Sri Lanka’s Institute of Chartered Accountants has launched a course in Forensic Accounting to help combat fraud in the country, a statement said. President of CA Sri Lanka, Lasantha Wickremasinghe said that amidst increasing fraud and corruption, the institute has taken steps to ensure that public expectations are met with […]
Ceylon Chamber and A-PAD launch disaster relief campaign
May 17, 2016 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce and the National Platform of the Asia Pacific Alliance for Disaster Management (A-PAD) has launched an emergency relief campaign to help thousands of people affected due to prevailing bad weather. Accordingly, the Chamber appeals to its members and the business community to come forward […]
MTD Walkers expands to Maldives
May 16, 2016 (LBO) – Integrated infrastructure and engineering solutions provider MTD Walkers announced today that it has expanded its operations to the Maldives. Walkers CML International (Private) Limited, a subsidiary of MTD Walkers PLC was incorporated in the Maldives to meet the growing demand of infrastructure development activities in the country. The group also […]
Commercial Bank of Ceylon website hacked: report
May 16, 2016 (LBO) – The corporate website of Commercial Bank of Ceylon was hacked, with its data posted online on May 12 by a hacking group which also posted data of several banks in Asia and Middle East, a report said. The group called Bozkurtla, with apparent Turkish ties, hacked data from five South […]
Interview: Sri Lanka gas policy should be included in energy plan
May 16, 2016 (LBO) – Sri Lanka needs a gas policy to be included in its new national energy plan to effectively market its offshore hydrocarbon fields to potential players, a top official said. “The gas policy is essential, as we cannot market the blocks without it,” Saliya Wickramasuriya, director general, Petroleum Resource Development Secretariat […]
Oil drillers bet three-month crude rally nearing end
May 16, 2016 (LBO) – Oil drillers are betting a three-month rally in oil prices is coming towards an end, with inventories running at all-time highs. West Texas Intermediate oil, the benchmark U.S. crude, has gained more than 75 percent since hitting a 12-year low in mid-February, Bloomberg reported. Brent Crude was trading at 47.80 […]
Rajagiriya flyover work to commence July 2016: Harsha
May 16, 2016 (LBO) – Work on the proposed Rajagiriya Flyover will commence from July 2016 and be completed by 2018, a senior official said. “It gives me great pleasure to announce that as an interim solution to the total traffic solution in the Megapolis plan, we will soon start work on the Rajagiriya Flyover,” […]
Ex-Sri Lanka captain Mahela Jayawardena appointed to ICC Cricket Committee
May 13, 2016 (LBO) – Ex-Sri Lanka Captain Mahela Jayawardena has been appointed to the ICC Cricket Committee, adding more cricketing experience to the Committee, the International Cricket Council said. Apart from Jayawardena, Former India captain Rahul Dravid has also been appointed to the Committee. Dravid and Jayawardena have played 1,161 international matches between them […]
Sri Lanka’s SEC blocks share transaction of Blue Diamonds
May 13, 2016 (LBO) – Sri Lanka’s securities regulator on Friday blocked a share transaction related to the chairman of Blue Diamonds Jewellery Worldwide following a possible violation of laws. As per the statement issued by the Securities and Exchange Commission (SEC), earlier this week Xia Liqiang, the Chairman of Blue Diamonds has disposed 15,146,200 […]