Category:
‘s Integrated Business Solutions
Aug 03, 2018 (LBO) – Fintek Managed Solutions (Pvt) Limited has announced its acquisition of the Integrated Business Solutions (IBS) unit of Brown and Company PLC. With this acquisition Fintek consolidates its role as the authorized distributor of Sharp office automation products and solutions in Sri Lanka. In a previous release detailing its role as […]
Sri Lanka keeps rates unchanged
Aug 03, 2018 (LBO) – Sri Lanka has decided to keep policy rates unchanged with the aim of stabilising inflation at mid-single digit levels in the medium term, thereby contributing to a high and sustainable growth trajectory of the island economy. “In arriving at its decision, the Board carefully considered the current and expected domestic […]
Finance Min calls for new regulatory body for Microfinance industry
Aug 03, 2018 (LBO) – Sri Lanka’s Finance Minister said that he is proposing the establishment of a new microfinance regulatory authority together with mandatory registration for the companies and amendments to the Act. “This is a national tragedy. It needs to be addressed in layers,” Mangala Samaraweera, Minister of Finance told reporters in Colombo, Thursday […]
LB Finance (LFIN) reports profits of Rs1.1bn for the quarter, deposit base grows to Rs75bn
August 2, 2018 (LBO) – Colombo Stock Exchange listed LB Finance (LFIN) reported earnings of Rs1.137bn for the quarter ended June 2018.Profits were up a robust 20% year over year, however sequentially from the march quarter, revenue and profits seem to be flat. Analysts say the lack of sequential profit growth may be deliberate, in […]
Sri Lanka maritime industry players come together to resolve industry issues
Aug 02, 2018 (LBO) – Sri Lanka Ports Authority (SLPA) and Sri Lanka Customs (SLC) together with other industry players have initiated a joint process to resolve the current maritime industry-related issues. Sri Lanka Ports Authority said Ceylon Association of Shipping Agents (CASA) and members of Sri Lanka Association of Vessel Operators (SLAVO) are also […]
PwC Sri Lanka wins Oracle’s SaaS Partner Appreciation award
PwC Sri Lanka was recently awarded the ‘SaaS Partner Appreciation award’ – South Asian Growing Economies at the Oracle FY19 SaaS Partner Forum, which was held at the Cinnamon Lakeside Colombo. Speaking on the achievement, Channa Manoharan, Advisory Leader/Chief Operating Officer of PwC Sri Lanka said “We are extremely delighted by this important accolade and […]
CSE listed DIMO reports a loss as inventories increase by Rs5bn; stock is cheap but investors pass
August 2, 2018 (LBO) – Colombo Stock Exchange listed DIMO lost Rs54mn in the quarter ended June 2018.The loss comes amid a large build in inventories during the 3 month period. During the quarter, inventories increased from Rs9.5bn, to Rs14.8bn. Payables correspondingly increased from Rs3bn to Rs5bn, and short term debt increased from Rs8.5bn to […]
Huawei seizes second place in global smartphone market in Q2
Aug 02, 2018 (LBO) – Huawei, a fast growing smartphone brand has seized second position in the global smartphone market with a total share of 15.8 percent in the second quarter of 2018 according IDC. Huawei invests into research and development (R&D) and over 10 percent of revenue is invested in R&D every year. According to Huawei’s […]
‘s Belluna launches leisure property in Galle
Aug 02, 2018 (LBO) – Sri Lanka’s Asia Leisure,in partnership with Belluna Co. Ltd, Japan opened its sixth leisure property ‘Le Grand’ in Galle recently. “Asia Leisure is one of the most widely recognized resort brands in the Country and together with Belluna Co. Ltd, Japan we are pleased to add this hotel to our family,” […]
‘s Democratic Republic extends on arrival visa facility to Sri Lankans
The Ministry of Foreign Affairs of the Lao People’s Democratic Republic has confirmed that, with effect from 01 August 2018, Sri Lankan citizens holding valid travel documents could apply for the visa on arrival at the international border checkpoints of the Lao People’s Democratic Republic.Ministry of Foreign Affairs Colombo
Sri Lanka stocks finish down, Bellwether JKH leads market lower
August 1, 2018 (LBO) – The Colombo Stock Exchange finished the trading session lower on the day, with volumes continuing to be light. The major indices both closed lower with the ASPI down.3%, while the S&P SL 20 was down .85% on the session. Foreign selling continued with net foreign sales of approximately US$750,000. Turnover […]
Govt nod to call for bids in Mannar, Cauvery basins for oil exploration
Aug 01, 2018 (LBO) – Sri Lanka’s cabinet of ministers has given the go ahead to call for bid from international companies to explore oil and gas deposits in the north-western Mannar and Cauvery basins, a statement said. Experts have revealed that initial studies on offshore exploration, development and production activities in the two basins have […]