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‘s Comm Bank reports operating profit Rs.31.6Bn for the year ended Dec 2018
Feb 25, 2019 (LBO) – The Commercial Bank of Ceylon PLC has reported an operating profit of 31.6 billion rupees for the year ended 31st December 2018, reflecting a growth of 12.8 percent before taxes on financial services. Profit before income tax improved by 10.4 percent to 25.6 billion rupees, a lower rate of growth attributable […]
Jaffna’s Emerging Women Entrepreneurs
By Jekhan Aruliah Jaruza Jayachandran states with no embarrassment that she didn’t do well at school. When she used to go for parent-teacher meetings at one of Jaffna’s leading schools, Vembadi Girls High School, Jaruza’s mother would ask to be warned which teachers would be complaining. Now that young girl who says she failed to […]
JW Marriott Hotel and residences tower officially launched in Sri Lanka
Feb 25, 2019 (LBO) – The One Transworks Square officially launched phase two of its high end luxury development project with the launch of its second tower, JW Marriott Hotel and residences. Comprising 256 highly modern hotel rooms, 206 residences and over 200,000 sq.ft of banquet space at a height of 303 meters, the JW Marriott […]
‘s new Media Minister
February 23, 2019 (LBO) – Ruwan Wijewardene has replaced Finance Minister Mangala Samaraweera as Sri Lanka’s Media Minister.Wijewardene is also expected to retain his current portfolio as the State Minister of Defense under President Maithripala Sirisena.Mangala Samaraweera resigned from his portfolio as Media Minister in order to make way for Wijewardene. The smooth transition is […]
Slower but more stable growth path appropriate strategy for North: report
Feb 22, 2019 (LBO) – An economic growth path that is slower but more stable which invests in communities to strengthen the social foundations for development has been proposed as an appropriate strategy for the North by a newly launched report.The report titled “Economic Development Framework for a Northern Province Master Plan” suggests a two-pronged strategy on […]
SLPA wins second consecutive GPF Ports Authority of the Year award
Sri Lanka Ports Authority (SLPA) won the Ports Authority of the Year 2019 Award by the Global Ports Forum (GPF) for the second consecutive year at the GPF awards ceremony 2019 followed by the conference forum held at the Hyatt Regency Dubai Deira, in the United Arab Emirates on 20th February 2019. Mr.Upul Jayatissa – […]
Inflation likely to remain in 4 – 6 percent range in 2019: Central Bank projections
Feb 22, 2019 (LBO) – Projections of the Central Bank indicates that inflation is likely to remain in the desired 4 – 6 percent range in 2019 and beyond. Headline inflation and core inflation increased in January 2019 mainly due to the increase in non-food inflation driven by higher expenditure on certain items such as […]
Central Bank decides to reduce SRR & keep policy rates unchanged
Feb 22, 2019 (LBO) – The Monetary Board of the Central Bank, at its meeting held on 21 February 2019, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.00 percentage point to 5.00 percent with effect from 01 March 2019. The Board also decided to […]
Sampath Bank Basel III compliant debenture oversubscribed
Feb 22, 2019 9LBO) – Sampath Bank announced that its third BASEL III compliant Debenture issue, to raise 7 billion rupees, had been oversubscribed within a few hours of its opening on 20th February 2019. Having pioneered Basel III compliant debentures in the Sri Lankan market in 2017, the sum raised by way of the debenture […]
Managing fiscal deficits can increase investments in health & education in Sri Lanka
FEATURE: Managing fiscal deficits can increase investments in health and education in Sri Lanka What happens when a population pyramid no longer resembles a pyramid so much as a rectangle? Sri Lanka is confronting a profound demographic shift, due to falling fertility rates and rising life expectancy. The base of the population pyramid – consisting […]
Rs.8bn inflows into securities since Jan; rupee appreciated 2.3-pct YTD: FM
Feb 21, 2019 (LBO) – Finance Minister Mangala Samaraweera says that foreign capital is now flowing back into the economy with 8 billion rupees worth inflows into government securities since January this year. Addressing the AmCham Breakfast Buzz held today in Colombo, the Finance Minister reminded that the rupee has also appreciated 2.3 percent year […]
Sinhalese Sports Club to revolutionize Sri Lankan sports with Power Plate
The Sinhalese Sports Club, one of the most prestigious sports clubs in Sri Lanka together with the pioneer in fitness equipment in Sri Lanka, Quantum Fitness is set to revolutionize sports and fitness training with the latest technology taking the fitness world by storm. The inaugural step toward this initiative is to introduce the revolutionizing […]