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Fitch assigns Lankaputhra first-time BBB-(lka) rating; outlook positive
Fitch Ratings has assigned Lankaputhra Development Bank Limited (LDB) a National Long-Term Rating of ‘BBB-(lka)’. The Outlook is Positive. KEY RATING DRIVERS LDB’s National Long-Term Rating reflects Fitch’s expectation that the bank would receive extraordinary support from the Sri Lankan sovereign, if required. Fitch believes the sovereign’s propensity to extend support to the bank stems […]
Germany’s Allianz SE to buy Janashakthi General Insurance for Rs16.4bn
Feb 02, 2018 (LBO) – Janashakthi Insurance is selling its general insurance business to Allianz SE in Germany for 16.4 billion rupees subject to adjustments, the company said in a stock exchange filing. Janashakthi Insurance said the transaction is subject to several conditions precedent which have to be satisfied by the parties, including addressing any […]
Sri Lanka signs the Framework Agreement on International Solar Alliance
Feb 02, 2018(LBO) – The High Commissioner for Sri Lanka in India, Chitranganee Wagiswara signed the Framework Agreement of the International Solar Alliance (ISA) at the Ministry of External Affairs of India in New Delhi, recently. Once the Agreement is ratified, Sri Lanka will become a founding member of the International Solar Alliance. With a […]
‘s LOFC acquired a 100 percent shares of LOLC Micro Credit
Feb 01, 2018 (LBO) – LOLC Finance PLC (LOFC) said the company has acquired a 100 percent shares of LOLC Micro Credit for 12.3 billion rupees. The shares were brought at 156.18 a share, the Company said in a stock exchange filing. LOFC Finance acquired 80 percent of LOLC Micro Credit from the parent company for […]
LG Election 2018 : An interview with Milinda Rajapaksa, SLPP Candidate
An Interview with Milinda Rajapaksa, SLPP Candidate (also known as ‘Pohottuwa’ party) for the Colombo Municipal Council What makes you want to go into politics? The power of the Colombo Municipal Council has been with one single party all this time. What good has it done for you? The CMC is meant to be the […]
NDB closes 2017 with 41-pct growth in PBT to Rs7.5bn
National Development Bank PLC (NDB) completed the financial year 31 December 2017 with impressive performance across all fronts. Commenting on this performance, the Chief Executive Officer of the Bank, Mr. Dimantha Seneviratne stated that 2017 has been a highly satisfactory year, during which the Bank stabilized its base, gathered rapid growth momentum and delivered enhanced […]
”s Supreme Global Holdings
Feb 02, 2018 (LBO) – Supreme Global Holdings, and Alibaba Group owned “Alitrip” which is now called “Fliggy”, launched the “Sri Lanka Pavilion” in “Fliggy’s tourism platform that will target to bring a million new Chinese tourists to Sri Lanka every year. The grand launch was made in Beijing, Tuesday. Alibaba, setting new standards in its […]
Sri Lanka: End Year Review 2017 by Oxford Business Group
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2018/02/Oxford-Business-Group-Sri-Lanka-End-Year-Review-2017.pdf” title=”Oxford Business Group – Sri Lanka End Year Review 2017″]
Walkers Colombo Shipyard completes construction of its fourth vessel
Walkers Colombo Shipyard (Private) Limited, a subsidiary of MTD Walkers PLC, has successfully completed the construction of its fourth vessel, a 10 ton bollard pull tug ‘Seagulf 3’.The tug designed and constructed entirely by in-house team of highly skilled naval architects and engineers under the guidance of Dr.Sarath Obeysekera, Managing Director of Walkers Colombo Shipyard […]
Sri Lanka Budget Openness, amongst lowest ranked countries in South Asia
Jan 31, 2018 (LBO) – Sri Lanka’s budget openness in the latest survey has scored 44 out of 100, coming in next to last in South Asia, tied with Pakistan. Open Budget Survey, which scores 115 countries on the openness of their budget process, is the world’s only independent assessment of information disclosure in public […]
Ravi K should not exercise duties as Assistant Leader of UNP: Marapana Committee
Jan 31, 2018 (LBO) – Marapana committee has recommended that former minister Ravi Karunanayake should not exercise any duties as an Assistant Leader of the United National Party until a finality is reached in the action against him. Releasing a statement, UNP General Secretary, Kabir Hashim said the report of the Marapana committee will be […]
Sri Lanka launches retirement living with Catalina Villas
Jan 31, 2018 (LBO) – Granite Capital announced the launch of Catalina Koggala, a first-of-its-kind residential community villa development targeting the fast growing ageing population in the island. The project will comprise 22 villas on 5.75 acres of land surroufnded by paddy fields near the Koggala Lake where Catalina flying boats coming from Australia used to […]