Category: Industry
Fitch revises outlook on HNB Assurance, HNB General Insurance to positive
Feb 28, 2019 (LBO) – Fitch Ratings has revised the Outlook on the National Insurer Financial Strength (IFS) Ratings of life insurer HNB Assurance and its fully owned non-life subsidiary, HNB General Insurance, to Positive from Stable and affirmed the ratings at ‘A(lka)’. KEY RATING DRIVERS The Outlook revision reflects better non-life capitalisation and financial performance […]
Prima Ceylon eyes more investments as it completes 40 years in Sri Lanka
Feb 28, 2019 (LBO) – Prima Ceylon, the flagship company of the Prima Group Sri Lanka, celebrated four decades of successful partnerships and growing together with the nation, at an event recently in Trincomalee, where its state-of-the-art flour milling complex and one of the largest flour mills in the world under one roof, is located. Speaking […]
Laugfs unveils second solar-powered fuel station in Sri Lanka
Feb 27, 2019 (LBO) – Setting another benchmark in the fuel retailing industry in Sri Lanka, Laugfs Southern Petroleum launched the country’s second solar-powered fuel filling station at Waskaduwa, Kalutara with a 46.1 KW solar-panelled roof. The iconic solar-powered fuel station is expected to generate and add over 5,520 kWh per month to the National Grid […]
SriLankan cancels Thursday’s flights to Karachi and Lahore
Feb 27, 2019 (LBO) – SriLankan Airlines has canceled flights to the Pakistani cities of Karachi and Lahore scheduled for Thursday, following the temporary closure of Pakistani airspace by the Civil Aviation Authority of Pakistan.Passengers who were booked to fly to Karachi and Lahore are kindly advised to contact their travel agents and visit www.srilankan.com for […]
Resus Energy to invest Rs.1.3Bn in hydro and solar power projects in Sri Lanka
Feb 26, 2019 (LBO) – Resus Energy PLC a renewable energy firm says they will be investing a staggering 1.3 billion rupees hydropower and solar power projects during this year. These projects have been structured with focus to generating renewable and sustainable energy combining the latest tech and an environmentally responsible business proposition, the Company said issuing […]
LOLC Group crosses Rupees Trillion mark with total assets reaching Rs1Tn
Sustaining its unblemished track record in performance, the LOLC Group crossed the Rupees Trillion mark, with total assets reaching Rs 1.008Tn, as at December 2018. This significant achievement is on account of the Group’s consistently resilient financial sector – both local and international, coupled with its strategic investments in non-financials sectors – Leisure, Plantations, Construction, […]
Ceylon Chamber of Commerce calls export SMEs to apply for on-the-job coaching
Feb 26, 2019 (LBO) – Ceylon Chamber of Commerce (CCC) requests export SMEs that has a high potential for growth to apply for an on-the-job coaching programme to improve their export competitiveness. Export SMEs facing various difficulties and challenges pertaining to the successful handling of their exports are eligible to receive this coaching assistance free […]
‘s vehicle registrations rebounds in Jan 2019
Feb 26, 2019 (LBO) – Sri Lanka’s vehicle registrations in the month of January 2019 on most categories have rebounded after witnessing a steep decline in December, data from a new report showed. Motor car registrations recorded 3,147 units in January up from 2,669 units in December but significantly down from 5,318 units 12 months […]
‘s Ceylinco Life posts income of Rs.29.2Bn; PBT of Rs7.2 Bn in 2018
Feb 26, 2019 (LBO) – Ceylinco Life has reported total income of 29.21 billion rupees for the year ending 31st December 2018 and recorded premium income of 17.8 billion rupees, an improvement of 13 percent over the previous year. Announcing its 15th consecutive year of market leadership in Sri Lanka’s life insurance industry, Ceylinco Life […]
‘s HNB Group profit after tax up 14-pct to Rs.19Bn for 2018
HNB Group recorded a Profit Before Tax of Rs 26.5 Bn and a Profit After Tax of Rs 19.1 Bn, posting a YoY growth of 14.6% and 14.4% respectively for the year ended 2018 in a clear demonstration of the resilience of the Group’s robust business model despite an array of challenges faced by the […]
Fitch affirms ratings of HNB Finance, Siyapatha Finance & Singer Finance
Feb 25, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of HNB Finance, Siyapatha Finance, and Singer Finance with a stable outlook. Accordingly, Fitch has affirmed the National Long-Term Rating of HNB Finance at A(lka) while affirming the National Long-Term Rating of Siyapatha Finance at A-(lka). Fitch Ratings has also affirmed Singer Finance […]
‘s Comm Bank reports operating profit Rs.31.6Bn for the year ended Dec 2018
Feb 25, 2019 (LBO) – The Commercial Bank of Ceylon PLC has reported an operating profit of 31.6 billion rupees for the year ended 31st December 2018, reflecting a growth of 12.8 percent before taxes on financial services. Profit before income tax improved by 10.4 percent to 25.6 billion rupees, a lower rate of growth attributable […]