Category:
Overseas Realty revenue up 43-pct for six months ended Jun 30 2019
Aug 06, 2019 (LBO) – Overseas Realty (Ceylon) PLC recorded a group revenue of 3,726 million rupees for six months ended June 30, 2019, an increase of 43 percent over the corresponding period of last year. The Group Profit After Tax increased by 5 percent to 2,279 million rupees. The Company Revenue of 1,192 million […]
Opinion: The Politicisation of Inflation
By Prince of Kandy Sri Lanka is currently in the process of amending its monetary policy. We are moving towards an inflation-targeting central bank. The proposed new law is at the stage where the dinosaurs in parliament oppose it on grounds of tradition [1]. Quoting from the referenced link; The requirement that a particular policy […]
Cabinet approves amendments to Nation Building Tax & Value Added Tax
Aug 06, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has approved the tax amendments proposed by the Finance Minister Mangala Samaraweera in his Budget 2019. Accordingly, the Cabinet has approved the Amendment Draft Bills on Nation Building Tax and Value Added Tax (VAT). The Finance Ministry said all the amendments, once drafted by the […]
”; outlook stable
Fitch Ratings Lanka has affirmed Sri Lanka-based National Insurance Trust Fund Board’s (NITF) National Insurer Financial Strength (IFS) Rating at ‘AA-(lka)’. The Outlook is Stable. The affirmation reflects NITF’s ‘Favourable’ business profile, meaningful recovery in its financial performance, satisfactory regulatory capital position as well as its conservative investment mix. These positives are somewhat counterbalanced by […]
Ceylon Chamber announces Sri Lanka investment and business conclave 2019
The Ceylon Chamber of Commerce in association with the Ministry of Development Strategies and International Trade, Ministry of Foreign Affairs, Ministry of Finance, Ministry of Industry and Commerce, Board of Investment of Sri Lanka, the Department of Commerce and the Sri Lanka Export Development Board will be organizing Sri Lanka Investment and Business Conclave 2019 […]
UNP coalition announcement delayed till end August : Ranil
Aug 06, 2019 (LBO) – Prime Minister Ranil Wickremesinghe said the postponement of the formation of the Democratic National Front (DNF) was temporary and that it will be done towards the end of August. Issing a formal statement the PM reiterated that the amendment to the coalition’s constitution had been presented after the UNP Working […]
‘s insurance industry records 5.7-pct growth in Q1 of 2019
Aug 06, 2019 (LBO) – The insurance industry reported a growth of 5.70 percent in terms of overall gross written premium (GWP), during the first quarter of 2019, recording an increase of 2,504 million rupees when compared to the same period in the year 2018, the Insurance Regulatory Commission of Sri Lanka said in a […]
No change in 15-pct interest to Senior Citizens’ Savings Accounts: Finance Ministry
Aug 05, 2019 (LBO) – Although the Central Bank has reduced the rates for deposits maintained in commercial banks, the special interest rate of 15 percent offered by the Government for senior citizens have not been changed. “There is no truth in the media reports published by different media saying that the 15% special bank […]
SriLankan welcomes free visa on arrival facility to 48 countries
Aug 05, 2019 (LBO) – SriLankan Airlines welcomes the launch of the free visa on arrival facility that the Government of Sri Lanka is providing to citizens of 48 countries in Australasia, Europe and North America from 1st August for a period of six months as part of a concerted effort to boost tourism into […]
DIMO’s new identity and way forward
(Press Release) – Reposition DIMO inside-out, to grow competitively and profitably considering the challenges of the future. Brand DIMO crosses the big 80-year milestone this year. With every decade DIMO has improved lifestyles of Sri Lankans through multiple interactions. It is a fitting moment to reflect on our successes and strengths but also regroup, to […]
Market Research Society of Sri Lanka to introduce new socio-economic measure
Aug 05, 2019 (LBO) – The Market Research Society of Sri Lanka will be introducing its new SEC (socio-economic) measure, which takes into account a 3rd dimension, which is a lifestyle indicator. The new SEC classification will be launched at the event organised on 13th of August 2019 at JAIC Hilton, Colombo targeting the business […]
Sri Lanka targets Rs.130Bn excise revenue in 2019; So far 24,150 raids conducted
Aug 05, 2019 (LBO) – The Excise Department has conducted 24,150 raids throughout the country during the first six months of this year under its program to minimize life risks through the elimination of illicit liquor. These raids have been carried out under the charges of brewing illicit liquor, possession of such liquor, possession of […]