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Lord Naseby meets Sri Lankan Diaspora at House of Lords
One of the 1st events representing Sri Lankan Diaspora at the House of Lords Last week, the UK Parliament paid tribute to the Sri Lankan community living in the United Kingdom with the first-ever meeting pertaining to Sri Lanka, one of the most auspicious days in the British calendar last week. For the first time […]
ETI Finance to pay 20-pct of deposit liabilities from USD75mn sale proceeds
May 21, 2018 (LBO) – Monetary Board of the Central Bank has decided to permit ETI Finance (ETIFL) to sell its share holding in subsidiaries and investment properties, for a net amount of 75 million US dollars subject to applicable laws. The Central Bank said the decision has been made based on a proposal submitted […]
‘s Teejay Lanka doubles capacity of India plant with USD15Mn expansion
May 21, 2018 (LBO) – Teejay Lanka, a textile manufacturer said they will be doubling of capacity of its Indian mill, following the completion of an expansion project involving an investment of US 15 million dollars (more than 2.3 billion rupees at current rates). Located within the 1,000-acre Brandix India Apparel City (BIAC) in Vizag, Andrapradesh, […]
Central Bank Governor to meet people in Trinco & review economic issues
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Fitch says Sunshine Holdings new equity issue not enough for ratings upgrade
May 21, 2018 (LBO) – Fitch Ratings says current ratings of Sunshine Holdings will remain unchanged as the projected fall in net leverage from the proposed private placement will be insufficient to trigger an upgrade.Fitch, however, says Sunshine Holdings (A-(lka)/Stable) plan to bring in new equity of 775 million rupees from a private placement of […]
Interactive workshop with Cultural Triangle Hoteliers’ Association
SKAL club of Sri Lanka conducted a Hotel Management Workshop at Amaara Forest Hotel, Sigiriya on 11 th of May, 2018. It was conducted by Mr. Nirmala Nagendra, a member of the executive committee of the SKAL club, is a veteran hotelier with more than 34 years of experience in Finance and Operations in the […]
ADB, Sri Lanka sign USD210Mn loan for Mahaweli water security investment program
May 18, 2018 (LBO) – The Asian Development Bank (ADB) and the Government of Sri Lanka signed a US 210 million dollar second tranche loan agreement for the Mahaweli Water Security Investment Program, the Finace Ministry siad. The programme will assist Sri Lanka complete its on going drive to deliver surplus water from the Mahaweli […]
IMF to complete its 4th review on June 1 as SL introduced fuel price formula
May 18, 2018 (LBO) – IMF Communications Department on Thursday announced that their board is scheduled to discuss Sri Lanka’s completion of its fourth review on June 1. At an IMF press briefing held in Washington, Gerry Rice of the communications department told reporters that the fuel pricing mechanism would benefit Sri Lanka and the […]
Janashakthi life business reports Gross Written Premium of Rs.764Mn , YoY growth 8-pct
Janashakthi Insurance PLC (Janashakthi) reported its financial results for the three month period ended 31st March 2018. Janashakthi had divested its General Insurance business earlier in the quarter, generating a substantial profit of Rs. 9.2 billion at a company level during the period under review. A significant portion of the proceeds from the sale […]
Samsung launches Galaxy J7 Duo in Sri Lanka
Samsung Sri Lanka expanded its best-selling range of Galaxy smartphones by introducing Galaxy J7 Duo. Galaxy J is Sri Lanka’s most popular smartphone series, accounting for every second smartphone sold in the country. With Galaxy J7 Duo, the dual camera makes its debut in the J series. The rear camera in Galaxy J7 Duo has […]
Nations Trust Bank – Realizing Dreams
The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out a place for itself in Sri Lanka’s Banking and financial services space. Innovation and a fresh approach have always been the Bank’s most potent tools and […]
Laugfs Gas urges Govt to introduce transparent mechanism for LPG pricing
May 18, 2018 (LBO) – Sri Lanka’s liquid petroleum gas (LPG) prices should be adjusted using a pricing mechanism that is transparent, impartial and fair, Laugfs Gas said issuing a statement. There have been significant changes in the LPG prices in the international market, which has had a detrimental impact on the local LPG industry, it said. […]