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Rock bottom Rs12bn rights issue pricing crashes Sampath Bank (SAMP) shares
March 1, 2019 (LBO) – Shares on the Colombo Stock Exchange were weaker across the board with Sampath Bank (SAMP) shares having their worst trading day in recent memory.Two hours into the trading day, shares of SAMP were off close to 16% with just Rs85mn worth of shares traded. The broader market indices were down […]
IMF reaches understanding at staff level to extend EFF for an additional year
Mar 01, 2019 (LBO) – A staff team from the International Monetary Fund (IMF) has reached an understanding at the staff level with the Sri Lankan authorities on the fifth review and the request to extend the Extended Fund Facility (EFF) arrangement for an additional year. Accordingly, the remaining disbursements will be evenly spread over this […]
Sri Lanka stocks wake up with net foreign buying
February 28, 2019 (LBO) – The Colombo Stock Exchange (CSE) awakened from its slumber with trading crossing the Rs2bn mark (US$11mn) after many days of dull trading. Stocks finished the day slightly up with trading activity across the board. Foreigners were significant net buyers with net foreign buying of Rs500mn on the day. Foreign buying of […]
‘s defeat of autocracy
February 28, 2018 (LBO) – Samantha Power, United States Ambassador to the United Nations under President Barak Obama, arrived in Sri Lanka to be the keynote speaker at an event felicitating Sri Lanka’s Finance Minister Mangala Samaraweera completing 30 years in politics. The event held at the BMICH was attended broadly by the Cabinet, Diplomatic […]
‘s Basel III sub debt final A(lka)
Feb 28, 2019 (LBO) – Fitch Ratings has assigned National Development Bank’s proposed Basel III-compliant subordinated debentures a final National Long-Term Rating of ‘A(lka)’. The notes, which total up to 6.5 billion rupees with maturities of five years, include a non-viability clause and qualify as regulatory Tier II capital for the bank. The bank plans to […]
Fitch revises outlook on HNB Assurance, HNB General Insurance to positive
Feb 28, 2019 (LBO) – Fitch Ratings has revised the Outlook on the National Insurer Financial Strength (IFS) Ratings of life insurer HNB Assurance and its fully owned non-life subsidiary, HNB General Insurance, to Positive from Stable and affirmed the ratings at ‘A(lka)’. KEY RATING DRIVERS The Outlook revision reflects better non-life capitalisation and financial performance […]
Prima Ceylon eyes more investments as it completes 40 years in Sri Lanka
Feb 28, 2019 (LBO) – Prima Ceylon, the flagship company of the Prima Group Sri Lanka, celebrated four decades of successful partnerships and growing together with the nation, at an event recently in Trincomalee, where its state-of-the-art flour milling complex and one of the largest flour mills in the world under one roof, is located. Speaking […]
LearnWare inspiring and empowering children through computer coding and robotics studies
(PRESS RELEASE) LearnWare, the professional kids’ Academy, is pleased to announce its much sought inauguration in January this year in the heart of Colombo city (No.204, 1/1, Galle Road, Colombo 04) for the benefits of the next generation young minds and in the interest of the parents, teachers and professional academics. LearnWare is a team […]
Laugfs unveils second solar-powered fuel station in Sri Lanka
Feb 27, 2019 (LBO) – Setting another benchmark in the fuel retailing industry in Sri Lanka, Laugfs Southern Petroleum launched the country’s second solar-powered fuel filling station at Waskaduwa, Kalutara with a 46.1 KW solar-panelled roof. The iconic solar-powered fuel station is expected to generate and add over 5,520 kWh per month to the National Grid […]
Ceylon Chamber of Commerce seminar to analyze national Budget 2019
Feb 27, 2019 (LBO) – Ceylon Chamber of Commerce will hold its annual National Budget seminar on 7th March 2019 that will discuss the implications of key policy changes in Budget 2019 and if it will be positive towards enhancing investments to strengthen Sri Lanka’s economic future.This seminar serves as an important opportunity for the business […]
SriLankan cancels Thursday’s flights to Karachi and Lahore
Feb 27, 2019 (LBO) – SriLankan Airlines has canceled flights to the Pakistani cities of Karachi and Lahore scheduled for Thursday, following the temporary closure of Pakistani airspace by the Civil Aviation Authority of Pakistan.Passengers who were booked to fly to Karachi and Lahore are kindly advised to contact their travel agents and visit www.srilankan.com for […]
Resus Energy to invest Rs.1.3Bn in hydro and solar power projects in Sri Lanka
Feb 26, 2019 (LBO) – Resus Energy PLC a renewable energy firm says they will be investing a staggering 1.3 billion rupees hydropower and solar power projects during this year. These projects have been structured with focus to generating renewable and sustainable energy combining the latest tech and an environmentally responsible business proposition, the Company said issuing […]