Category:
Central Bank reduced Statutory Reserve Ratio & increased policy interest rates
Nov 14, 2018 (LBO) – Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 13 November 2018, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.50 percentage points to 6.00 percent. In order to neutralize the impact of this reduction […]
‘t take President’s power to appoint a Prime Minister: Nimal Siripala
Nov 13, 2018 (LBO) – Minister Nimal Siripala de Silva says that the Speaker cannot take the powers of the President and move to appoint a Prime Minister. “Even if he appoints a purported Prime Minister it will be a nullity, that has no force in law,” de Silva said at a special press conference […]
Sri Lanka Parliament will convene tomorrow morning: Speaker
Nov 13, 2018 (LBO) – Speaker Karu Jayasuriya says according to the 2095/50 proclamation issued on 04 November 2018 by the President, the Parliament will be convened at 10 am tomorrow. Meanwhile, the Speaker has called a party leaders meeting tomorrow morning (8.30 am) at the Parliament. Ranil Wickremesinghe says he is ready to demonstrate […]
Commercial Bank weathers external challenges to post strong 9-month results
Sri Lanka’s benchmark private bank, Commercial Bank of Ceylon PLC has demonstrated its resilience in adverse conditions, weathering the twin challenges of high taxes and impairment charges to post a healthy growth in most key performance indicators at the end of the third quarter of 2018. The Bank’s gross income surpassed the Rs 100 billion […]
Supreme Court issues interim order for gazette issued dissolving Parliament
Nov 13, 2018 (LBO) – Sri Lanka’s Supreme Court has issued an interim order staying operation of the Gazette proclamation dissolving the Parliament till 7 December 2018.Leave to proceed has been granted for all the Fundamental Rights petitions heard and the case has been fixed for argument on the first week of December 2018. Meanwhile, […]
Hayleys records turnover of Rs.103Bn for six months ending September
Nov 13, 2018 (LBO) – Hayleys PLC, a diversified conglomerate posted a 65 percent Year-on-Year (YoY) increase in turnover up to 103 billion rupees for the six months period ending 30 September 2018. The Group posted strong operating profits which expanded to 6.8 billion rupees from 3.2 billion rupees in the corresponding period. The Group […]
SAARC energy regulators meet in a bid to initiate regional power trade
Nov 13, 2018 (LBO) – Sri Lanka hosted the third meeting of South Asian Association for Regional Cooperation (SAARC) council of experts of energy regulators (Electricity) in Colombo, Tuesday to pave the way for initiating regional power trade through the implementation of SAARC framework agreement. Apart from the infrastructure and regional power trading, the council will […]
Financial Intelligence Unit entered into MOU with Department of Motor Traffic
In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Department of Motor Traffic (DMT) on November 01, 2018 at the Central Bank of Sri Lanka to receive intelligence information related to […]
Supreme Court adjourned till 5:00pm as nation awaits decision on interim relief
November 13, 2018 (LBO) –
Kapila Chandrasena takes Ranjith Fernando’s seat at Sri Lankan Airlines
Nov 13, 2018 (LBO) – Former Chief Executive officer of Sri Lankan Airlines and Mihin Lanka Kapila Chandrasena has been appointed as the Chairman of Sri Lankan Airlines and Mihin Lanka following the change in the government. Corporate communications office of the Sri Lankan Airlines, however, did not reply to our request for more information. […]
Sampath Bank surpasses Rs.14 Bn mark in pre-tax profit
Sampath Bank achieved Rs.14.2 billion in Profit Before Tax (PBT) within the first 3 quarters of 2018, 20.3% higher than the PBT of Rs.11.8 billion recorded in the corresponding period in the previous year. This is a significant achievement particularly given the challenging macroeconomic conditions that were seen throughout this period. Profit After Tax (PAT) […]