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Perpetual Treasuries suspension of business activities extended by 6 months
Jan 04, 2019 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business activities of a Primary Dealer for a period of six months with effect from tomorrow.The Central Bank said the extension was carried out in terms of the Regulations made […]
‘s Basel III sub debt BBB+(lka)(EXP)
Jan 04, 2019 (LBO) – Fitch Ratings has assigned Seylan Bank’s proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘BBB+(lka)(EXP)’. The notes, which will total 5 billion rupees and mature in five years, include a non-viability clause and will qualify as regulatory Tier II capital for the bank. Seylan plans to […]
LRT project to kick start in 2019 : Cabinet nod for Japanese aid of USD1850Mn
Jan 04, 2019 (LBO) – Sri Lanka’s Finance Ministry says that cabinet approval has been received to go ahead with US 1850 million dollar loan agreement with the Japan International Cooperation Agency (JICA) to commence initial work on the islands much anticipated LRT project. The ministry said that the loan, will be disbursed in six stages and […]
FineTech Consultancy appointed as Google Premier Partner for Sri Lanka
Jan 04, 2019 (LBO) – Google’s largest local partner in Sri Lanka since 2010, FineTech Consultancy has been appointed as the only Google Premier Partner for Sri Lanka, Maldives and Bangladesh. The company said in a statement that the appointment comes in the wake of Google’s recognition of FineTech’s contribution to Google customers in all […]
LankaPropertyWeb.com Acquires Lamudi.lk
Jan 04, 2019 (LBO) – Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved […]
MBSL announces changes in MIDCAP with year-end index rebalance
In a pioneering move, Merchant Bank of Sri Lanka & Finance PLC (MBSL) constructed a Stock market Index: the “MBSL MIDCAP Index”, which measures the aggregate price level and price movements of medium-sized companies listed on the Colombo Stock Exchange (CSE). The index which came into operation in the Year 1999 is revised annually and […]
‘s Finance Minister
Jan 03, 2019 (LBO) – Two European Union Parliamentary Members Lord William Dartmouth and Geoffrey Van Orden who visited Sri Lanka as members of the “Friends of Sri Lanka Group”, has paid a courtesy call on the Finance Minister Mangala Samaraweera yesterday. According to the Finance Ministry, during the call both the parties have exchanged views on matters […]
Online property portal LankaPropertyWeb acquires Lamudi.lk
Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk, firmly establishing the company as the dominant portal in the country. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach […]
Hemas Pharmaceuticals launches pharmacists skill development program
Leading local pharmaceutical importer and distributor Hemas Pharmaceuticals (Private) Limited in conjunction with the Pharmaceutical Society of Sri Lanka recently launched its inaugural Pharmacists Skill Development Programme with the objective of gearing pharmacists with the necessary skills, qualifications and training to serve patients better. “Currently, there are more than 3,700 pharmacists serving patients across the […]
Opinion: My new year’s wish – a final rest to “ghosts” of years past!
By Chrishmal Warnasuriya G’day from down-under: Our customary few lines that usually accompany my New Year’s wish-list this time comes from the land of Skippy the Kangaroo and boxing day MCG cricket (sans the sand-paper of course); hence the slight delay in reaching you, my apologies! Our extensive travels and the chance to look at things […]
Tribute: Senior UN Economist Lakdasa Hulugalle (1932-2018)
January 2, 2018 (LBO) – Christmas Day 2018 saw the passing of Lakdasa Hulugalle at the age of 86. Hulugalle served as a Senior Economist at United Nations agency UNCTAD, and was my father’s elder brother. We spent a fair amount of time together and had many a discussion on our shared interests of politics, […]
I think we are understating Sri Lanka’s GDP under new methodology: CB Governor
Jan 02, 2019 (LBO) – Sri Lanka’s Central Bank Governor on Wednesday pointed out that the authorities need to look at carefully whether they are recording the GDP of the country accurately.According to Coomaraswamy’s own view, the growth in 2018 should be somewhere between 3.5 and 4 percent. “I don’t think this is a 3 […]