Category: Trade
Sri Lanka’s Hemas Holdings March net profit down 3.5-pct
June 07, 2016 (LBO) – Sri Lanka’s Hemas Holdings which has interests in FMCG, leisure and healthcare has posted a shareholder profit of 744 million rupees in the March 2016 quarter, down 3.5 percent from a year earlier, interim accounts showed. The group reported basic earnings of 1.30 rupees per share for the quarter against […]
Sri Lanka’s LOLC March net up 46-pct amid growing incomes
June 03, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the March quarter rose 46 percent to 2.3 billion rupees. The group reported earnings per share of 4.83 rupees for the quarter up from 3.31 from a year earlier and the […]
Sri Lanka’s Cargills net up 39-pct in March with improved margins
June 02, 2016 (LBO) – Profits at Sri Lanka’s Cargills group, with interests in retailing and fast moving consumer goods, rose 39 percent to 412 million rupees in the March quarter, the interim accounts showed. The group reported earnings of 1.84 rupees per share for the quarter against 1.33 rupees recorded in the previous year. […]
Consumer Affairs Authority collects Rs75mn from fines this year
May 30, 2016 (LBO) – Sri Lanka’s Consumer Affairs Authority has collected over 75 million rupees as fines imposed on local shops and restaurants during the first five months of this year. In the five months to May this year, the authority has conducted 8,319 raids and in January alone has collected over 10 million […]
Vehicle imports up 60-pct in 2015, 7-pct of total imports: CCC
May 25, 2016 (LBO) – Expenditure on motor vehicle imports to Sri Lanka has recorded a 60 percent growth last year compared to previous year, Ceylon Chamber vehicle market report showed. The annual publication which is now available for purchase showed that country’s expenditure on vehicle imports has accounted for 7 percent of the total […]
Sri Lanka’s Dipped Products acquires Italian glove marketer for Rs535mn
May 25, 2016 (LBO) – Dipped Products, a subsidiary of the Hayleys Group, today announced that it acquired the remaining stake of Italian glove marketer Icoguanti SpA for 535 million rupees. With this purchase, Icoguanti, which was a 6O percent owned subsidiary, has now become a wholly owned subsidiary of Dipped Products, the company said […]
”
May 24, 2016 (LBO) – The Ceylon chamber of commerce with Fair Deal AS, a globally spread import sourcing arm is planning to launch a program to help Sri Lankan importers buy goods at ‘factory prices’. Under this program, Fair Deal which is a subsidiary of the Advance Business Partners of Norway will function as […]
Sri Lanka vehicle registrations down in April except for Cars and SUVs
May 24, 2016 (LBO) – Sri Lanka’s vehicle registrations except for Cars, SUVs and 3 wheelers were down last month due to April being a holiday month, JB Securities said in a research note. Motor car registrations recorded 3,618 units in April up from 3,326 units a month ago and significantly down from 5,116 units […]
Sri Lanka benefits from increased trade with India: OBG
May 20, 2016 (LBO) – Sri Lanka stands to benefit from efforts to strengthen economic cooperation with India particularly with a rebalancing of foreign policy, Oxford Business Group said. With talks around an expanding free trade agreement (FTA) in the works, momentum appears to be on Sri Lanka’s side. Full article is below: Thanks to […]
London Stock Exchange shifts shared services to Sri Lanka; hiring staff
May 19, 2016 (LBO) – International markets infrastructure provider London Stock Exchange Group will hire up to 400 highly skilled Sri Lankans as it has decided to shift part of its technology and business functions here. The new company to be formed under the name of London Stock Exchange Business Services Colombo limited is currently […]
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 […]
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 […]