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Japan’s Sony and Fujisoft ink deal with Sri Lanka’s Smart Metro
May 10, 2016 (LBO) – Smart Metro, a Sri Lankan based software development company signed two separate agreements with Sony Corporation and Fujisoft Inc, Tuesday. The company will be the new sole agent for the distribution and application of Sony’s Near Field Communication (NFC) Technology widely known as ‘FeliCa’ and Fujisoft ‘s Finger-vein Biometric Authentication […]
OTT services, threat to Sri Lankan Telco revenues and state taxes: Dialog Chief
May 10, 2016 (LBO) – Sri Lanka’s telco industry may face a threat of increasing severity arising from revenue erosion due to the impact of Over the Top (OTT) communication services, a telecom operator said. As OTT companies like Netflix, Skype, Whatsapp, and Google encroach on the telecom industry, operators need to find ways to […]
Crescent Global brings Lloyd’s Insurance to Sri Lanka
May 11, 2016 (LBO) – Crescent Global Insurance and Reinsurance Brokers are the first Lloyd’s of London broker to open office and invest in Sri Lanka, the company said. ‘Crescent Global is proud to be the first and the only Lloyd’s of London broker to invest and establish a Reinsurance company in Sri Lanka. We […]
South Korea introduces new points system to recruit workers from Sri Lanka
May 10, 2016 (LBO) – The Human Resources Development Services of Korea has introduced a new point based system to recruit workers from Sri Lanka and other countries, The Korean Embassy said. Current system allows only passers of Korean language examination (EPS-TOPIK) constitute valid roster, which has not contained various elements of the person, for […]
How does our media cover tragedy? open letter to Sri Lankan media
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PTL Watch: Bond yields edge higher on thin volumes
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Sri Lanka’s HNB net up 73-pct in March 2016 quarter
May 10, 2016 (LBO) – Group profits at Sri Lanka’s Hatton National Bank surged 73 percent to 3.3 billion rupees in the March 2016 quarter amid strong income growth, interim accounts showed. The group reported basic earnings of 8.42 rupees per share for the quarter, up from 4.91 rupees per share from a year earlier. […]
Panama Papers goes online with Sri Lankan companies on list-Updated
May 09, 2016 (LBO) – The International Consortium of Investigative Journalists on Monday released a searchable database of more than 200,000 offshore entities that are part of the Panama Papers investigation. The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore world, and includes information about companies, […]
Sri Lanka corporate leaders raise concerns over ad hoc tax changes
May 09, 2016 (LBO) – Members of the main committee of the Ceylon Chamber of Commerce has observed that consistency in policy should be a top priority of the government in order to build confidence and boost private sector investment. Ceylon Chamber said in a statement that the members of the Committee at its latest […]
KLM to resume flights to Sri Lanka after nearly 20 years
May 09, 2016 (LBO) – KLM Royal Dutch Airlines says it will resume flights to Sri Lanka from October after almost 20 years of staying away due to the conflict in the island. “The first flight to Colombo is scheduled to depart on Monday, 31 October 2016. This marks KLM’s return to Colombo after an […]
PTL Watch: Market subdued ahead of bond auction
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SEC imposes restrictions on Entrust Capital Markets activities
May 09, 2016 (LBO) – Sri Lanka’s securities regulator has imposed several restrictions on Entrust Capital Markets (Pvt) Ltd (ECMPL) following regulatory concerns on the activities of the broker firm. The Securities and Exchange Commission in a letter has directed the firm that client funds are not withdrawn except with the prior written approval of […]