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Commercial Bank profits marginally up in December quarter
Feb 24, 2020 (LBO) – Sri Lanka’s Commercial Bank group reported a net profit of 5.9 billion rupees showing a marginal improvement of equity holder’s profit of the bank in the December quarter. The group’s gross income for the quarter showed a marginal decrease of 0.29 percent against the previous year and a decrease in […]
For Sec Aryasinha meets Human Rights Council President in Geneva
Feb 24, 2020 (LBO) – Ahead of the upcoming 43rd Session of the Human Rights Council (HRC) scheduled to commence next Monday (24 February), Foreign Secretary Ravinatha Aryasinha briefed the President of the HRC Ambassador Elisabeth Tichy-Fisslberger on the decision of the Government of Sri Lanka to withdraw its co-sponsorship of Resolution 40/1 of March […]
Safer roads to add over USD1 Tn to South Asian economies
South Asia’s eastern subregion, comprising Bangladesh, Bhutan, India, and Nepal, needs to invest an estimated extra $118 billion in road safety over the next decade to halve its road crash fatalities, says a new World Bank report, noting that this will bring $1.2 trillion in economic benefits annually, equivalent to 3.75 percent of regional GDP. […]
DFCC records Rs.2.8Bn PAT in 2019
DFCC Bank, the largest entity within the group recorded a profit after tax (PAT) of Rs 2,828 million for the year ended December 31, 2019 excluding the fair value loss on Commercial Bank of Ceylon PLC (CBC) in comparison to profit after tax of Rs 3,646 million recorded in the comparative year. The Bank’s profit […]
Foreign Ministry ensures welfare of Lankans following COVID-19 concerns in S Korea
Feb 22, 2020 (LBO) – The Ministry of Foreign Relations in coordination with the Sri Lanka Embassy in Seoul has been closely monitoring and coordinating efforts to ensure the safety of Sri Lankans residing in South Korea, following the recent rise of COVID-19 cases, particularly, in the city of Daegu. According to the Sri Lanka […]
Private sector keen to join mobilization of domestic investment for SDGs
For mobilizing domestic investment for the Sustainable Development Goals (SDGs), the Government needs to develop different schemes of blended finance, non-state budget investment financing, and collaborative financing schemes. For such a mix of investment to be attracted, ‘the ease of doing business’ in Sri Lanka needs to be improved significantly and policy consistency is an […]
Central Bank responsible for taking legal action on forensic audit: President’s Secretary
Feb 21, 2020 (LBO) – Secretary to the President, P B Jayasundera has informed COPE Chairman and JVP Parliamentarian Sunil Handunnetti that it is the responsibility of the Central Bank to take legal action on the forensic audit report. Handunnetti wrote to the President last month requesting that the law be implemented based on the […]
‘s bull vs bear debate
Tesla sits at a record high. A stock darling of 2020, tripling since October to more than 0 a share.In a bull vs. bear debate, Bloomberg’s Taylor Riggs talks with Cathie Wood, founder, CEO and CIO of Ark Investment Management, and Edward Niedermeyer, author of “Ludicrous: The Unvarnished Story of Tesla Motors”. Wood thinks Tesla […]
Pan Asia Bank records its best-ever financial results
Pan Asia Banking Corporation PLC, “the Truly Sri Lankan Bank” ended 2019 Q4 with its best financial results ever, to report a Post Tax Profit of Rs.726.84 million during the final quarter, recording an impressive growth of 58% demonstrating its resilience amidst challenging conditions. Meanwhile, the Bank’s operating profit before all taxes for the quarter […]
Mahinda Siriwardana appointed as a Deputy Governor of Central Bank
The Monetary Board, with the concurrence of the Minister of Finance, Economy and Policy Development has appointed Assistant Governor, K M Mahinda Siriwardana as a Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 12th February 2020. Mr. Siriwardana has a service of more than 28 years in the Central Bank. […]
Sri Lanka to sign MoU with India to develop Jaffna International Airport
Feb 20, 2020 (LBO) – Sri Lanka will enter into a Memorandum of Understanding (MoU) with India to develop the Jaffna International Airport. The proposal made by the Minister of Tourism and Aviation in this regard has been approved by the Cabinet. Plans are already underway to develop the airport at Palaly while regional international […]
Retired Major General Vijitha Ravipriya appointed Director-General of Customs
Feb 20, 2020 (LBO) – Prime Minister has appointed retired Major General Vijitha Ravipriya as the new Director-General of Sri Lanka Customs, the Finance Ministry said. Major General Vijitha Ravipriya held the office of the Commander Security Forces – Kilinochchi as his last appointment, prior to his retirement.