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Teejay’s 6-month net profit up 75-pct to Rs.1.24Bn
Oct 31, 2019 (LBO) – Textile manufacturer Teejay Lanka PLC has announced top and bottom line growth in the first half of 2019-20, with investments in expansion and internal measures continuing to generate anticipated improvements to net profit margins and other key performance indicators. Noteworthy revenue and profit improvements in the second quarter of the […]
StudyAdelaide announces 2020 Brand Ambassador competition in Sri Lanka
StudyAdelaide, an agency of the Government of South Australia to promote Adelaide as an international study destination has launched an Ambassador competition for students in Sri Lanka for the first time. The competition offers an opportunity for student to become ambassadors of Adelaide, as well as an education and lifestyle experiential tour of Adelaide. The […]
”s time, UNP needs Ranil more than ever
October 30, 2019 (LBO) – Nandasena Gotabaya Rajapaksa appears to be the man of the moment. The 70 year old former Lieutenant Colonel in the Sri Lanka Army, turned American, returned as Defence Secretary is likely just weeks away from taking oaths and assuming office as the President of Sri Lanka. His journey to Sri […]
Ceylon Chamber advocates 12 focus areas to accelerate economic growth
Oct 30, 2019 (LBO) – The Ceylon Chamber of Commerce has identified twelve (12) areas as priority areas for Sri Lanka’s economic development in the 2020-25 period. The chamber launched the working draft of the Sri Lanka Economic Acceleration Framework (SEAF) 2020-25 on 17 September 2019 with the aim of identifying key areas for the […]
ComBank enables Dynamic Currency Conversion at ATMs for foreign Visa Cards
The Commercial Bank of Ceylon has extended its ‘Dynamic Currency Conversion’ (DCC) feature to foreign Visa card holders using the Bank’s ATMs in Sri Lanka, enhancing transparency in the cash withdrawal process for travellers. Commercial Bank is the only bank to offer this service in Sri Lanka to Visa card holders travelling to the country. […]
‘s Debt Crisis is more serious than you imagine
Context A Team of Leading Economists/Analysts in January 2019 alerted the Leaders in Governance that it is likely that the ballooning external debt commitment will lead to a sovereign bond default unless drastic and sustainable actions are taken to: Overcome the culture of running high fiscal deficits indulging in extravagant, conspicuous and unproductive investments/imports and spends. Rapidly […]
Asian Hotels (AHPL) reports a profit, tourism recovery taking hold
October 29, 2019 (LBO) – Colombo Stock Exchange listed Asian Hotels and Properties (AHPL) reported a modest profit in the quarter ended September 30th. AHPL is the subsidiary of market bellwether John Keells Holdings (JKH) which owns two large city hotels. Profits in the quarter were down 95% year over year to just Rs10mn, however […]
‘s cabinet approves MCC grant of USD 480 Million
Oct 29, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers today approved the implementation of 480 million US dollars MCC grant that consists of grant funds for traffic management in Colombo, road construction Island wide, and land administration improvements covering the whole country. These compact programmes to be funded by this project have been developed […]
Luxury tax has no effect on small motor vehicles: Finance Ministry
Oct 29, 2019 (LBO) – Sri Lanka’s Finance Ministry says that the luxury tax imposed on motor vehicles will not be relevant to small motor vehicles. Accordingly, prices of Toyota Vitz, Suzuki Every, Toyota Roomy, Suzuki Alto, Suzuki Baleno, Daihatsu Petrol, Honda Grace, Suzuki Wegon R, Toyota Aqua will not be affected by this luxury […]
Advocata supports recommendation to allow AG dept representation at COPE
Oct 29, 2019 (LBO) – Advocata, a local think tank has welcomed the recommendation to include representatives of the Attorney General’s (AG) Department at Committee on Public Enterprises (COPE) proceedings and urges the government to prioritise this suggestion. The third report of the COPE was presented to the parliament on the 23rd of October, 2019. […]
Ranil congratulates Trump on successful operation to destroy ISIS leader
October 28, 2019 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe officially congratulated President Donald Trump and the United States Military on its successful operation to destroy the leader of ISIS. Sri Lanka’s PM was the political leader who had to take charge of the security effort during Sri Lanka’s Easter Sunday bombings as the […]
‘s Chevening Scholarship closing on 5 Nov
Applications for Chevening Scholarships to study in the UK are closing on 5 November 2019, with applications to be submitted via www.chevening.org/apply. Chevening Scholarships are awarded to individuals with leadership potential and strong academic backgrounds.The scholarship offers full financial support for future leaders to study for any eligible master’s degree at any UK university, whilst […]