Category: Industry
Expressing Gratitude and Expecting Gratitude: To What Extent such is Deserving?
Oct 01, 2014 (LBO) – Recognising a help and expressing gratitude for it is a worthy human gesture. This applies to groups, societies, or even countries. Non recognition of a helping hand given is considered unkind and disgraceful. Worse is when parties unrelated are praised when the true helper is elsewhere unrecognised. In Sinhalese tradition, […]
Consolidation
Oct 01, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track with eight banks and non-bank lenders given approval for mergers and recapitalization during September 2014, the Central Bank said. Another eight banks and non-bank lenders have completed internal processes to allow them to submit the plans, the regulator said. A total of […]
’s Mihin to expand routes, frequencies
Sep 30, 2014 (LBO) – Sri Lanka’s state-run budget carrier Mihin Lanka plans to add destinations and increase frequencies on existing route as it plans to meet the growing demand for flights due to an increase in tourism and trade.TThe state-owned airline plans to start flights to Lahore in Pakistan where the airline says has […]
’s LOLC Leisure re-branded as Browns Hotels and Resorts
Sep 30, 2014 (LBO) – Sri Lanka’s Lanka Orix Leasing Company Leisure, a hotel company rebranded as Brown Hotels and Resorts, Brown Investment PLC said in a media release. LOLC will continue to be the holding company for the Browns group, the company said in the media release. LOLC Leisure is the controlling shareholder of […]
More paths
Sep 29, 2014 (LBO) – Sri Lanka’s UB finance to open more avenues to improve the small and medium sector and the lifestyle of the people, the company said in a media release. UB finance, a financial service solution provider is a subsidiary of Union Bank of Sri Lanka. In the coming year, UB Finance […]
Appointment
Sep 29, 2014 (LBO) – Sri Lanka’s Union Bank was appointed as a primary dealer in government securities in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance by the Central Bank, the bank said in a media release. Union Bank will commence its business on 1st of October, 2014.
British Airways to cease flights to Colombo by March 2015
Sep 25, 2014 (LBO) – British Airways announced that the flights operations to Colombo will be ceased from 28th March 2015 due to an unprofitability that the route makes, the company said in a media release.The Colombo route is not making a profitable contribution to our business and we are unable to sustain it, Christopher […]
SEC rules
Sep 25, 2014 (LBO) – Sri Lanka Security Exchange Commission says the managing companies and trustees of unit trust should maintain a minimum number of fifty unit holders for each fund at all the times, the commission said in the media release. Where the minimum number if unite holders falls below the specified minimum threshold […]
Equity Fund
Sep 25, 2014 (LBO) – Sri Lanka’s Ironwood Capital Partners, a private equity firm says that it has raised 30 million dollars for private equity investment vehicle for Sri Lanka post-2009 with an aim of strengthen the national economy through key strategic investments and support the development of the private equity industry in the country. […]
Sri Lanka Anilana Resorts and Properties in right issue
Sep 24, 2014 (LBO) – Sri Lanka’s Anilana Hotels and Properties Limited is to issue 109,624,114 ordinary shares for its shareholders to raise money to settle an existing debt and to finance the balance construction of a hotel project in Dambulla Sri Lanka, the company said in a Colombo Stock Exchange announcement. The rights issue […]
Sri Lanka to push medical tourism
September 19, 2014 (LBO) – Sri Lanka to push medical tourism in order to support the 20 billion dollars export target in year 2020 an official of Export Development Board said. EDB, which strongly believes in private public partnership approach, has decided to make the first ever national initiative to rally the healthcare providers as […]
Ratings
September 18, 2014 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Citibank Colombo Branch’s (CitiSL) National Long-Term Rating at ‘AAA(lka) with a stable outlook , the rating agency osaid in a statement. The full statement is reproduced below:- KEY RATING DRIVERS CitiSL’s rating is the highest on the National Rating scale and reflects the credit […]