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Sri Lanka to establish accepted professional status for electricians
Mar 05, 2018 (LBO) – Sri Lanka’s power regulator said it will establish an accepted professional status for electricians in the country through accrediting their qualifications and experience. The proposed mechanism was developed by Public Utilities Commission of Sri Lanka (PUCSL) in collaboration with the Institution of Engineers Sri Lanka (IESL), Tertiary, Vocational Education Commission […]
Sri Lanka PM reiterates island on track for economic prosperity
Mar 05, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said that the island is on the path of becoming an attractive place for business in South Asia and one of the fastest growing regions in the world. “We are undertaking many policy initiatives to incentivize direct private investment both foreign and local. In 2018, […]
SLT group EBITDA improved by 5.4-pct, increasing depreciation affected bottom line
Sri Lanka Telecom (PLC) released its Group and Company financial performance 2017 today. The group comprised of 8 subsidiaries including Mobitel (Pvt) Ltd. During the reporting year Group Operating Profit Before Depreciation and Amortization (EBITDA) improved by 5.4% to Rs. 21.2 bn. This improvement is a result of revenue growth and minimum escalation of operational […]
Sri Lanka, a cautionary tale about over-reliance on China: OBG
Mar 02, 2018 (LBO) – Sri Lanka, perhaps, provides the most cautionary tale from their Asia-Pacific markets about over-reliance on China-backed infrastructure development, a research firm said. In a blog post about Asia-Pacific’s road to economic prosperity, Asia Regional Editor of Oxford Business Group, Patrick Cooke said Chinese acquisitions from other countries make emerging nations […]
Opinion: Why Sri Lanka’s financial services industry need to be data governed & data driven?
By Jithendra Antonio The Impact of Big Data on Products and Services The quality of data used in every business is more important in today’s global business landscape. Our world is changing at a rapid pace as organizations and societies are digitizing faster and moving online and mobile to conduct business. We have more people […]
‘s Basel III sub debt final A(lka)
Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Negative) proposed Basel III compliant subordinated debentures a National Long-Term Rating of ‘A(lka) ‘. The notes will total LKR7.5 billion, mature in five years and carry fixed coupons. The notes include a non-viability clause and will qualify as regulatory Tier II capital for the bank. The bank plans […]
Sri Lanka Prime Minister visits Singapore to lure investors
Mar 02, 2018 (LBO) – Prime Minister Ranil Wickremesinghe today met Trade and Industry Minister of Singapore, S Iswaran at the Four Seasons Hotel in Singapore.Discussions were held between the two about strengthening trade and economic ties based on the Free Trade Agreement signed by both countries recently. Minister Iswaran has also appreciated the efforts […]
Ericsson and Dialog partner to roll out first commercial IoT network in Sri Lanka
Mar 02, 2018 (LBO) – Dialog Axiata PLC, a local telecommunications provider, and Ericsson have rolled out the first commercial Massive IoT network supporting both Cat-M1 and NB-IoT technologies in South Asia. Deployed across Dialog Axiata’s Sri Lankan network,the advanced mobile network technology will help accelerate the proliferation of IoT devices, the company said in […]
‘s Bairaha farms to go ahead with Rs.1.3BN expansion
Mar 02, 2018 (LBO) – The Board of Directors of Bairaha Farms Group has approved an investment of 1.3 billion rupees to increase the day broiler chick production by over 50 percent, a statement said.” The Board of Directors of Bairaha Farms plans for a 1.3 billion rupee expansion over three years,” the Company said in a […]
Cabinet approves proposal to conduct feasibility for India, Japan aided LNG terminal
Feb 28, 2018 (LBO) – Sri Lanka’s cabinet on Tuesday approved a proposal to conduct a feasibility study for the proposed Liquefied Natural Gas (LNG) Terminal and the Floating Storage Regasification Unit (FSRU). Accordingly, Sri Lanka will sign a tripartite MoU with India and Japan soon to conduct a feasibility study. Cabinet has also decided […]
PropertyGuru Asia Property Awards (Sri Lanka) 2018 event gathers momentum, shortlist reveal in June
PropertyGuru, Asia’s foremost online property company, is gearing up to host its first-ever Asia Property Awards gala dinner in Colombo, Sri Lanka in 2018 as property developers island-wide continue to express enthusiasm to participate in the region’s most prestigious property tilt. The inaugural PropertyGuru Asia Property Awards (Sri Lanka) domestic gala dinner will take place […]
‘s Insurance A+(lka); outlook stable
Fitch Ratings has assigned Sri Lanka-based People’s Insurance PLC a National Insurer Financial Strength (IFS) Rating and National Long-Term Rating of ‘A+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The ratings reflect the non-life insurer’s strong domestic business profile, which is supported by its association with the People’s Bank (Sri Lanka) (PB, AA+(lka)/Stable) group, strong […]