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Janashakthi Life continues to deliver steady growth in Q3
Janashakthi Insurance PLC (Janashakthi) continued on its growth journey, registering a Gross Written Premium (GWP) of Rs.2.2 billion as at 30th September, 2018. The Insurer ended the period under review with post-tax profits of Rs.7.4 billion, including the gains from the sale of Janashakthi General Insurance Limited. The Company’s investment income stood at Rs.1,125 million, […]
Sri Lanka Parliament adjourns; political crisis turns into a deadlock
Nov 15, 2018 (LBO) – Sri Lanka’s Parliament adjourned till tomorrow amidst a tense situation erupted in the house after Parliamentarian Lakshman Kiriella called for a vote over a statement made by disputed Prime Minister Mahinda Rajapaksa. After Rajapaksa concluded his statement saying the country should go for a general election, Parliamentarian Lakshman Kiriella called […]
Mahinda Rajapaksa says fuel price to be further reduced tonight
Nov 15, 2018 (LBO) – In a special statement in Parliament Mahinda Rajapaksa said fuel price will be further revised tonight. “It is only in Sri Lanka the fuel price goes up according to the formula when the world prices are going down,” he said. “This is why tonight the price will be reduced.” Speaking […]
‘s Hattion National Bank 9 month Group PAT at Rs14.5Bn
Nov 15, 2018 (LBO) – Hatton National Bank PLC (HNB) reported a Profit After Tax (PAT) of 14.5 billion rupees at Group level for the nine months to September 2018 recording a growth of 23 percent YoY. The Bank’s PAT for the period amounted to 13.1 billion rupees growing by 21 percent YoY. The Bank said […]
Sri Lanka growth expected to recover to 4 – 4.5-pct in 2019: CB Gov
Nov 15, 2018 (LBO) – There are some positive signs with FDI and exports probably going to be record numbers this year and we envisage Sri Lanka’s growth to be somewhere between 4 -4.5 percent for 2019, the Central Bank Governor said. Growth is expected to remain below envisaged levels in 2018. As per the […]
Ceylinco Life’s 9-month net profit up 62-pct to Rs3.28Bn
Nov. 15, 2018 (LBO) – Sri Lanka’s Ceylinco Life has reported profit before tax of 3.734 billion rupees for the period nine months ending 30th September 2018. The life insurance player has reported profit before tax of Rs 3.734 billion for the period, reflecting growth of 48 per cent over the corresponding nine months of […]
Vallibel Finance pre-tax profits grow by 28.2-pct to Rs.1.03Bn
Vallibel Finance PLC returned yet another impressive report card with profits before tax (PBT) for the six months ending September, 2018 reaching a record high of Rs. 1.03 Billion. Acclaimed as one of the most respected finance companies in Sri Lanka, the name-bearer of the Vallibel Group continued its now customary outstanding financial performance with […]
Sri Lanka CB Chief confident of meeting debt repayment targets in 2019
Nov 14, 2018 (LBO) – Political uncertainty will not have an impact on Sri Lanka’s debt repayment preparations for 2019, the Central Bank Governor said. “Despite the uncertainty we have been operating with business as usual, ” Dr. Indrajit Coomaraswamy, Governor, Central Bank told reporters in Colombo, Wednesday. “CB is ready to cover the January 15th […]
Sri Lanka political crisis deepens as Parliament shows no confidence in PM
Nov 14, 2018 (LBO) – Sri Lanka’s Parliament passed a no-confidence motion against newly appointed Prime Minister Mahinda Rajapaksa on Wednesday. After a chaotic Parliamentary vote, the Speaker announced that the majority voted in favor of the no-confidence motion, a claim that the allies of Rajapaksa reject. The Speaker’s office, however, said a copy of […]
Central Bank warns public to be attentive to financial scams/ phishing emails
Nov 14, 2018 (LBO) – The attention of the Central Bank of Sri Lanka (CBSL) has been drawn to recent grievances received from the general public regarding financial scams spreading through phishing emails/ social media messages. Issuing a statement the bank said it has noticed that the image of the Head Office building, the Logo […]
JVP hands over no-confidence motion against Mahinda Rajapaksa
Nov 14, 2018 (LBO) – The Marxist Janatha Vimukthi Peramuna has handed over a no-confidence motion against Prime Minister Mahinda Rajapaksa.JVP Parliamentarian Vijitha Herath said that the motion has been handed over to Speaker Karu Jayasuriya.The agenda for the day, however, is to be decided by the House itself as party leaders meeting ended without […]
Sri Lanka official reserves at USD7.9bn by end Oct; YTD rupee depreciation 12.9-pct
Nov 14, 2018 (LBO) – Supported by the receipt of the foreign currency term financing facility of 1 billion US dollars by the government, gross official reserves amounted to 7.9 billion US dollars as at end October 2018, providing an import cover of 4.2 months, the Central Bank said. The bank added that the significant […]