Category: Industry
‘s can open new doors for Sri Lanka’s real estate market
Feb 24, 2016 (LBO) – Sri Lanka’s property market will see new market space opening up with the introduction Real Estate Investment Trusts (REITs), a new capital market tool, an investment specialist said. “REIT’s will transform the capital market and give new shape to the real estate market,” Hardy Jamaldeen, director, Sterdian Capita Investment said. […]
ADB to help Sri Lanka expand Colombo port operations using PPP
Feb 24, 2016 (LBO) – The Asian Development Bank (ADB) and Sri Lanka Ports Authority (SLPA) signed a transaction advisory services agreement Tuesday to develop the East Container Terminal (ECT) of Colombo Port through public–private partnership (PPP). The signing was witnessed by Takehiko Nakao, President of ADB, and Sri Lanka’s Finance Minister Ravi Karunanayake. “The […]
Sri Lanka offers discount for Myanmar Transshipments, threat from Vizhinjam
Feb 23, 2016 (LBO) – Sri Lanka Ports Authority has decided to grant a 10 percent discount on transshipment handling charges of the ship companies who comply to carry out Myanmar transshipment operations through the Colombo port. The decision aims to attract fast growing transshipment industry in Eastern India, Bangladesh and Myanmar, to the Colombo […]
Samsung unveils Galaxy S7 and S7 edge next generation smartphones
Feb 22, 2016 (LBO) – Samsung Electronics on Monday announced the newest additions to the Galaxy family of products, Samsung Galaxy S7 and Galaxy S7 edge. Created for today’s consumer lifestyle, Galaxy S7 and Galaxy S7 edge lead the industry with a refined design, more advanced camera, streamlined software functionality and unparalleled connectivity to a […]
Sri Lanka’s Ceylon Tobacco unit profits down 7.7-pct in Dec
Feb 20, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco fell 7.7 percent to 1,834 million rupees in the December quarter, interim accounts showed. The firm reported earnings of 9.79 rupees per share for the quarter compared to earnings of 10.61 rupees per share posted a year ago. Gross revenue […]
Sampur power plant receives environment approval; construction soon: Power Min.
Feb 19, 2016 (LBO) – The construction work of the Sampur coal power plant will start soon as the project received the environment approval early this month, Power and Renewable Energy Minister said. Accordingly the first and second phase of this project is to be commenced within the next few months, Power Minister Ranjith Siyambalapitiya […]
French Total inks oil exploration deal with Sri Lanka
Feb 18, 2016 (LBO) – Total, a French oil and gas company, has signed a deal with Sri Lanka to explore for oil in the island’s east coast, a Petroleum Resources Development Ministry statement said. “The aim of the study is to explore marginal areas with limited data for hydrocarbon prospectivity,” the Ministry statement said. […]
Sri Lanka’s Commercial Bank to raise Rs7bn in debentures
Feb 18, 2016 (LBO) – Sri Lanka’s Commercial Bank said it was planning to raise as much as 7 billion rupees from the sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in stock exchange filing that it wanted to sell 50 million debentures of 100 rupees each. But […]
Sri Lankan climbers in Mt Everest expedition
Feb 18, 2016 (LBO) – Sri Lankan mountain climbers Jayanthi Kuru-Utumpala and Johann Peiris said Thursday they will launch an expedition to summit the world’s highest peak, Mt. Everest, this year. If successful, they will be the first Sri Lankans to do so. With over a decade of experience each, Kuru-Utumpala said they are confident […]
Sri Lanka stocks close down 0.2-pct; Insufficient liquidity level
Feb 18, 2016 (LBO) – Sri Lankan stocks closed down at 0.19 percent with mixed investor sentiment and active trading in some banking sector stocks on earning expectations, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.93 points down at 6,208.89 down 0.19 percent. The S&P SL20 closed 21.47 points up at […]
‘s Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka’s Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising capital, a senior official said. “The biggest investor was the parent company (Janashakthi Insurance) because the way the restructuring went; during the amalgamation the parent had a cash out of their […]
Sri Lanka’s Sampath Bank net up 15-pct in Dec quarter
Feb 17, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 15 percent to 1.5 billion rupees in the December quarter from a year earlier, interim accounts showed. The group reported earnings of 8.91 rupees for the quarter against 7.74 rupees per share last year. For the year ended December the group […]