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COPE presents interim report; bond report in two weeks
Aug 09, 2016 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises has presented its summarized interim report for the first 3 months of this year in Parliament on Tuesday. Chairman of COPE, Parliamentarian Sunil Handunnetti said the report contains progress of 19 Public Enterprises and covers the period of January 26 to April 08 […]
Sri Lankan rupee trades steady; stocks little changed
Aug 09, 2016 (Reuters) – The Sri Lankan rupee traded steady on Tuesday as dollar demand by importers was offset by conversions of the U.S. currency from exporters amid concerns that price controls by the government could hurt imports, dealers said. Two Sri Lankan economists last week told a summit attended by President Maithripala Sirisena […]
PTL Watch: Yields tick higher, Rs4.75 bln turnover
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-09th-August-2016.pdf” title=”PTL Daily Market Report 09th August 2016″]
Sri Lanka’s Hela Clothing joins IFC’s trade supplier finance program
Aug 10, 2016 (LBO) – IFC, a member of the World Bank Group, has partnered with leading local apparel manufacturer Hela Clothing (Pvt) Limited to boost trade opportunities for Sri Lanka’s apparel industry through a trade-supplier finance facility. Hela Clothing is the latest apparel company in Sri Lanka to join IFC’s Global Trade-Supplier Finance program. […]
Sri Lanka’s Piramal Glass records 11-pct revenue growth in 1Q
Piramal Glass Ceylon PLC has announced its results for the 1st Quarter of F2017 with Rs. 1,656 Million of Revenue & Rs. 110 Million of Profit After Tax. The total revenue during the first quarter of FY 2017 showed an overall growth of 11%. The positive momentum achieved in the domestic market during previous year […]
Mastercard unveils new brand identity
Mastercard, one of the world’s most recognizable brands, unveiled the evolution of its brand identity, including a modernized and simplified update to its iconic red and yellow logo coupled with a new look and feel for branded communications and experiences. The ability to thrive in a digital age, besides positioning Mastercard as a forward-thinking, human-centered […]
Mackwoods says Agalawatte share sale had shareholder approval
Aug 09, 2016 (LBO) – Sri Lanka’s Mackwoods Plantations (Private) Limited says the recent share sale of Agalawatte Plantations had been unanimously approved by the shareholders of the company. In a stock exchange filing, Agalawatte Plantations said they have been notified that all the shareholders of Mackwoods Plantations (Private) Limited unanimously approved and executed an […]
Expolanka Holdings top line grows 7 pct in June quarter
Aug 09, 2016 (LBO) – Expolanka Holdings, which operates in areas including logistics and leisure, said it recorded seven percent growth in revenue to 14.96 billion rupees in the June quarter, which was a resilient performance amidst challenges. With its strategic shift towards growth sectors in logistics and leisure, operating profit increased 20 percent to […]
Ceylinco Life head office gets biggest solar power system in Colombo
Aug 09, 2016 (LBO) – Ceylinco Life has broken new ground in the sphere of eco-friendly operations with the installation of the biggest solar electricity system in Colombo, the company said. The life insurance company said it is converting its head office building in Colombo 5 to solar power, with a system capacity of 63.18kW. […]
Sri Lanka needs to accelerate broadband development: Harin
Aug 09, 2016 (LBO) – Sri Lanka’s government says that as the island embarks on a journey of transformation to become a digitally enabled and empowered society, the importance of having a robust fixed-broadband base to build upon is critical. “We strongly believe that this is indeed the ripe time to accelerate broadband development in […]
Deutsche Bank Sec. fined USD12.5 mln for inadequate communication supervision
Aug 09, 2016 (LBO) – The Financial Industry Regulatory Authority (FINRA) in the U.S. has fined Deutsche Bank Securities Inc 12.5 million dollars for failure to supervise which employees had access to confidential information. FINRA said it had fined the entity for “significant supervisory failures related to research and trading-related information it disseminated to its […]
Asia shares up as yield hunt drives record flows, pound slips
SYDNEY, Aug 9 (Reuters) – Asian shares stood atop one-year peaks on Tuesday as investors’ desperate search for yield drove a record inflow into emerging market funds, while the pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts at Bank of America Merrill Lynch noted the search for yield […]