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Sri Lanka’s Union Bank 1H profits up 211 pct to Rs60mn: Interim Report
July 23, 2015 (LBO) – Sri Lanka’s Union Bank said net profit rose 211 percent to 60 million rupees in the first half to June 2015.Interest income of the bank fell four percent to 1,905 million rupees while interest expenses also fell 31 percent to 865 million enabling net interest income to rise 43 percent […]
Sri Lanka’s Janashakthi Insurance names Esufally as deputy Chair
July 23, 2015 (LBO) – Sri Lanka’s Janashakthi Insurance has appointed Husein Esufally as its new Deputy Chairman and director of the company and Jude Fernando as Chief Executive Officer, a statement said. “Janashakthi Insurance has appointed well-known corporate leader Husein Esufally to a new position as Deputy Chairman and a non-executive independent director with […]
MAS unveils the world’s first Chemical Leasing project for waste water treatment
(Press Release) MAS breaks new ground with the world’s first Chemical Leasing project for waste water treatment.UNIDO applauds it as a great start for Sri Lanka and a giant leap in rethinking chemical management by responsible business brands. Categories: Sustainable Business, Best Practices, Chemical Management As part of a long term commitment to environmental sustainability, […]
Sri Lanka to take legal action to obtain due payments for the transport used in last presidential election
July 23, 2015 (LBO) – Sri Lanka cabinet of ministers had decided to take legal action to get the payments due and to obtain compensations for the damages that had been caused, for the transport used in last presidential election, cabinet spokeman Rajitha Senaratne said at a press briefing held in Colombo. Minister of Internal […]
Sri Lankan economy expands 5.1-pct in Q1 2015 after rebasing
July 23, 2015 (LBO) – Sri Lanka’s rebased national accounts estimates, which takes 2010 as base year, against 2002 shows the Islands economy five percent bigger.“The structural composition of the economy has changed after the rebasing due to revision of the reference year and other improvements made to the system in the rebasing process,” the […]
EU Election Observation Mission departs for provinces in Sri Lanka
July 23, 2015 (LBO) – Eighteen Long-Term Observers from the EU Election Observation Mission to Sri Lanka departed this morning from the Galadari Hotel in Colombo to their respective duty areas in all nine provinces across the country.Each team comprises two Long-Term Observers and on August 11, they will be joined in the field by […]
Sri Lanka rupee depreciates 2.1-pct against USD this year: Central Bank
July 23, 2015 (LBO) – Sri Lanka’s rupee has depreciated by 2.1 percent against the US dollar, during the year up to 21st July 2015, the Central Bank data showed.However, based on cross currency exchange rate movements, the Sri Lankan rupee appreciated against the euro by 10.0 per cent, the Australian dollar by 9.2 per […]
Sri Lanka’s official reserves USD 6.8bn in May 2015
July 23, 2015 (LBO) – Sri Lanka’s gross official reserves stood at 6.8 billion US dollars in May 2015, equivalent to 4.2 months of imports, while total foreign assets amounted to 8.7 billion US dollars, equivalent to 5.3 months of imports, data showed. Sri Lanka’s gross foreign reserves rose to 7.5 billion US dollars in […]
Sri Lanka‘s tea exports fall for eigth consecutive month
uly 23, 2015 (LBO) – Sri Lanka’s Tea exports, which were severely affected by the lower demand from Russia and the Middle East, declined for the eight consecutive month in May 2015, recording a drop of 12.1 per cent in May 2015. Official data shows Sri Lanka exported 123.6 million US dollar worth tea in […]
‘s General Treasury lends Rs544.9mn to pay Golden Key depositors tomorrow
July 23, 2015 (LBO) – Sri Lanka’s government will provide 544.3 million rupees of tax payers money as the first tranche to start paying the much talked of “Golden Key Depositors” who invested in a ponzi scheme to get a bigger share of the failed Golden Key Credit Card Company from tomorrow (24), a statement […]
Sri Lanka Marxist JVP election manifesto repeats good governance policies
July 23, 2015 (LBO) – Sri Lanka Marxist JVP’s election manifesto presented to the public yesterday contains key governance policies similar to those contained in President Sirisena’s election manifesto.Abolishing the executive Presidency by establishing a Parliamentary system, Electoral reforms, Right to Information Act and as well as the National Audit Act are some of the […]
Sri Lanka’s exports flat in May while imports up: Central Bank
July 22, 2015 (LBO) –Sri Lanka’s exports earnings recorded a marginal decline of 0.1 per cent, year-on-year, to 883 million US dollars in May 2015, led by lower performance in tea, sea food, gem, diamond and jewellery exports, and the Central bank said. Earnings from industrial exports increased by 3.3 per cent to 661.3 million […]