Category: Industry
Profit Gain
Oct 04, 2014 (LBO) –Sri Lanka Seylan Bank, a private bank recorded a Profit before Tax of 3,490 million for the nine months ended 30th September 2014, the bank said in a media release. Profits after Tax reached a record of 2,253 million rupees a 47 percent increase compared to the 1,536 million rupees reported […]
SriLankan Airlines gets a new version of Airbus A330
Oct 31, 2014 (LBO) – SriLankan Airlines, the national carrier has taken delivery of Airbus A330 -300 aircraft as it continues to expand its global route network with more fuel-efficient and maintenance cost friendly models from Airbus. This delivery launches the process of the fleet renewal and replacement program and affords us the opportunity to […]
Haldummulla Disaster
Oct 29, 2014 (LBO) – A Landslide destroyed a plantation in Haldummulla, Central Sri Lanka on Wednesday (29) morning and have killed at least 100 people and leaving more than 150 trapped, a media report said. An about 330 people had been living at the location at the time of the tragedy. The mobilized armed […]
Doing Business
Oct 29, 2014 (LBO) – Sri Lanka has slipped to 99 from 85 in a global ranking compiled by the World Bank group as several other nations raced ahead despite an improvement in the score between 2013 and 2014. The report further said Sri Lanka has made paying taxes more costly for companies by increasing […]
’’s national IFS rating downgraded: Fitch
Oct 28, 2014 (LBO) – Sri Lanka’s Fitch Ratings has downgraded the national insurer financial strength rating and national long term rating of Asian Alliance Insurance to ‘BBB(lka)’ from ‘BBB+(lka)’ placing both ratings on rating watch negative. Fitch Downgrades Asian Alliance Insurance’s National IFS Rating to ‘BBB(lka)’ Fitch Ratings-Hong Kong/Colombo/Singapore-27 October 2014: This commentary replaces […]
Capital Gain
Oct 28, 2014 (LBO) – Sri Lanka’s Bank of Ceylon (BOC) to receive 10 billion rupees from budget 2015 in order to strengthen the capital of the bank. President Mahina Rajapaksa said this presenting the budget to the parliament last week. BOC’s profits before tax increased 20 percent to 8.6 billion rupees the first half […]
Marina Study
Oct 27, 2014 (LBO) – Sri Lanka’s Colombo port city is to undergo a multidisciplinary marina study by Atkins, one of the world’s leading design, engineering and project management consultancies, a media release said. Atkins has been appointed by China Harbour Engineering Company to assess the opportunity of incorporating a marina into the proposed 2.5sqkm […]
Sri Lanka Tourist Hotels Association elects Cooray as president
Oct 23, 2014 (LBO) – The Tourist Hotels Association of Sri Lanka (THASL) has elected as its president Hiran Cooray, Chairman of Jetwing Hotels, a tour operator with a chain of hotels that’s also promoting eco-tourism in a big way. Now we are playing and batting on a smooth wicket and it is wonderful to […]
Money Transfer
Oct 23, 2014 (LBO) – Sri Lanka DFCC Vardhana Bank (DVB), a commercial bank launched Lanka Money Transfer (LMT) service, a remittance service which allows customers, both the sender and receiver to transfer money with ease, using the banks that they trust. The newly introduced service will allow customers to transfer money with ease and […]
New Phone
Oct 22, 2014 (LBO) – Micromax, a mobile handset company in India introduced a wide range of android smartphones to the local market targeting at lower spenders.œThe new smartphone range recently introduced to the local market is a valuable offering from Micromax in the budget Android segment, said Amit Mathur, Vice President,International Business of Micromax. […]
New iPad
Oct 19, 2014 (LBO) – Apple introduced iPad Air 2 recently, which the company says the thinnest and most powerful iPad®. Media Statement by Apple CUPERTINO, California- Apple® introduced iPad Airâ„¢ 2, the thinnest and most powerful iPad® ever. Now just 6.1 mm thin and weighing less than a pound, iPad Air 2 features an […]
Policy Rate
Oct 17, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent but said there is further room for banks to reduce lending rates, as inflation continued to be slow the Central Bank in its October monetary policy review. In nominal terms, most market interest rates are at historic […]