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FM Mangala’s speech on Missing Persons Bill in Parliament
On 11 August 2016, Hon. Speaker, The Office on the Missing Persons’ Bill, which we will be debating today in this House, I believe heralds a new beginning, a new era of peace and reconciliation for our long suffering country. 68 years after Independence, two youth insurrections, and a 26 year old war, Sri Lanka […]
Aitken Spence records 31-pct top line growth in Q1
Reflecting top line growth across all sectors – tourism, maritime and logistics, strategic investments and services; leading blue chip – Aitken Spence PLC posted a revenue figure of Rs. 7.5 Billion in the first quarter of the 2016/17 financial year, a 31% increase from the previous year’s Rs. 5.8 Billion. The top line growth is […]
Commercial Bank carries solid growth momentum into 2nd quarter of 2016
The Commercial Bank of Ceylon has extended its growth momentum into the second quarter of the year to record robust performance indicators for the six months ending 30th June 2016 amidst increasing costs of funds and shrinking margins. Sri Lanka’s benchmark private bank has reported profit before VAT and NBT of Rs 10.391 billion recording […]
‘s HDFC Bank at BBB(lka); outlook stable
Fitch Ratings has affirmed Housing Development Finance Corporation Bank of Sri Lanka (HDFC Bank) National Long-Term Rating at ‘BBB(lka)’. The Outlook is Stable. The agency also affirmed HDFC Bank’s senior secured and senior unsecured debentures at ‘BBB(lka)’. KEY RATING DRIVERS HDFC Bank’s National Long-Term Rating reflects Fitch’s expectation that the bank would receive extraordinary support […]
Sri Lanka rupee steady; exporter dlr sales offset by importer demand
Aug 12, 2016 (Reuters) – The Sri Lankan rupee was steady on Friday as dollar sales by foreign investors and exporters were offset by mild demand for the importer greenback, dealers said. The spot rupee ended at 145.50/53 per dollar at 0636 GMT, compared with Thursday’s close of 145.50/52. “We see a few foreign banks […]
PTL Watch: Yields tick higher, foreign buying seen
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-12th-August-2016.pdf” title=”PTL Daily Market Report 12th August 2016″]
Sri Lanka to develop labour, attract workers overseas: PM
Aug 12, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said that it is time for a new human resource policy to go hand in hand with the economic development plan which will be outlined soon. “Skilled human capital is essential to harness the key advantages of Sri Lanka like the strategic geographic location, […]
Sri Lanka’s Ceylon Tobacco unit profits flat in June quarter
Aug 12, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco, rose one percent to 3.0 billion rupees in the June quarter, interim accounts showed. The firm reported earnings of 16.28 rupees per share for the quarter compared to earnings of 16.12 rupees per share posted a year ago. The share […]
Norwegian PM’s private visit to Sri Lanka now official
Aug 12, 2016 (LBO) – Prime Minister of Norway Erna Solberg who is presently in Sri Lanka on a private visit, will have an official programme at the invitation of the Government on 12 and 13 August 2016, the Foreign Ministry announced. Prime Minister Erna Solberg will be received at the Presidential Secretariat today and […]
UNESCO Director General to pay first official visit to Sri Lanka
UNESCO Director-General Irina Bokova will undertake her first official visit to the Democratic Socialist Republic of Sri Lanka, where she will affirm the Organization’s support to the peace and reconciliation process and the advancement of the 2030 Agenda for Sustainable Development. Through a series of public events, visits to world heritage sites and top-level bilateral […]
SLT gets full landing status for SEA-ME-WE 5 in Matara
Aug 12, 2016 (LBO) – Telecommunications and ICT solutions provider, Sri Lanka Telecom PLC (SLT), says it has gained full landing status of SMW5 Cable Station in Matara. With this, Sri Lanka can offer the region “state-of-the-art global services provided through multiple international undersea cable systems,” SLT said in a statement. SLT’s International Backhaul Network […]
Nestlé Lanka delivers 7.4 % growth, LKR 19 billion sales in H1 2016
(PRESS RELEASE) – Shivani Hegde, Nestlé Lanka Managing Director: “We have delivered steady results for the first six months of the year despite a very challenging business environment. With the launch of important product innovations and renovations, we aim to delight consumers with products that offer Nutrition Health and Wellness. As we mark 110 years […]