Category:
‘s north
May 18, 2016 (LBO) – Canada together with UNDP and FAO are working to strengthen agro economic cooperatives in the Northern Sri Lanka, with a specific focus on the districts of Jaffna, Killinochchi and Mullaitivu, a statement said. “The Government of Canada under a financial envelope of six million Canadian dollars is funding the UNDP-FAO […]
Janashakthi Insurance PLC reports consolidated Profit After Tax (PAT) of Rs.358 mn for March 2016
Janashakthi Insurance PLC (Janashakthi) reported a consolidated Profit After Tax (PAT) of Rs.358 million for the quarter ended 31st March 2016, a marked Year on Year (YoY) growth of 236%. The Insurer posted these numbers on the back of a 32.8% rise in consolidated Gross Written Premium (GWP) amounting to Rs.3.3 billion for the period […]
Singapore Trade Minister with biz team to visit Sri Lanka in June
Trade, services and co-operation between Sri Lanka and Singapore as well as inward investment is projected to increase significantly with the visit of of the Hon. S. Iswaran, Minister of Trade and Industry, Singapore to Sri Lanka in June 2016. The Hon. Minister will be accompanied by a high profile business delegation including potential investors […]
Citizens Development Bank announces Rs1bn debenture issue
May 18, 2016 (LBO) – Sri Lanka’s Citizens Development Business Finance PLC (CDB), a licensed finance company, said it will issue one billion rupees in listed rated subordinated guaranteed redeemable debentures. “The main objective of the debenture issue is to raise funds for CDB to strengthen its Tier II Capital and grow its lending book,” […]
Italy to explore apparel, renewable energy prospects in Sri Lanka
May 18, 2016 (LBO) – Deputy Foreign Minister of Italy Senator Benedetto Della Vedova will make an official visit with a business delegation to Sri Lanka from today to 19 May 2016, the Foreign Ministry said. A four-member business delegation with interests in the apparel industry and renewable energy from Euro Green Power Ltd, Moving […]
CA Sri Lanka to teach Forensic Accounting to combat fraud
May 18, 2016 (LBO) – Sri Lanka’s Institute of Chartered Accountants has launched a course in Forensic Accounting to help combat fraud in the country, a statement said. President of CA Sri Lanka, Lasantha Wickremasinghe said that amidst increasing fraud and corruption, the institute has taken steps to ensure that public expectations are met with […]
Upper limit for Sri Lanka bank leasing to be imposed: Finance Minister
May 18, 2016 (LBO) – Several changes to Sri Lanka’s financial services will be enacted soon such as leasing services offered by banks, Finance Minister Ravi Karunanayake said, speaking at a forum in Colombo. A proposal in the budget that banks should stop leasing from June 1 will be modified, he said. “Finally, it is […]
Sri Lanka floods leave over 135,000 homeless
May 17, 2016 (LBO) – At least eight people were killed and over 207,000 people were affected due to adverse weather in Sri Lanka where more than 135,000 people have been driven out of their homes by floods, officials said Tuesday. Over 47,000 families were affected in the island with Western Province has been reported […]
Sri Lanka’s Hayleys to raise Rs2bn in listed debt
May 17, 2016 (LBO) – Diversified Hayleys Plc is planning to raise as much as 2 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The stock exchange said the company wanted to sell up to 20 million debentures at 100 rupees each. Capital Alliance Partners and People’s […]
Ceylon Chamber and A-PAD launch disaster relief campaign
May 17, 2016 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce and the National Platform of the Asia Pacific Alliance for Disaster Management (A-PAD) has launched an emergency relief campaign to help thousands of people affected due to prevailing bad weather. Accordingly, the Chamber appeals to its members and the business community to come forward […]