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The Asian Banker names BOC as strongest bank in Sri Lanka 2015
Sri Lanka’s No.1 Bank, the Bank of Ceylon was named as the only “Strongest Bank” in Sri Lanka for the year 2015 by the Asian Banker, in an independent research carried by the region’s most authoritative provider of strategic business intelligence to the financial services community. The announcement was made at a ceremony held […]
Sri Lanka’s Treasury bill yields drop across maturities
Nov 04, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down across maturities on Wednesday’s auction with the 3-month yield dropping 17 basis points to close at 6.44 percent, data from the state debt office showed.6-month yield was down by 12 basis points to close at 6.87 percent while the 12-month yield was down […]
Sri Lanka Chevron lubricants unit profits up 11 pct
Nov 04, 2015 (LBO) – Sri Lanka’s Chevron Lubricants Lanka Plc said profits in the September quarter rose 11 percent to 834 million rupees from a year earlier despite the shrinking of oil prices locally and globally.Chevron Lubricants Lanka PLC carries on the business of importing, blending, distributing and marketing of lubricant oils and greases. […]
Sri Lanka stocks close higher 0.05-pct: Lack of policy direction
Nov 04, 2015 (LBO) – Sri Lankan stocks closed 0.05 percent higher on Wednesday following four consecutive days of losses with continued low investor interest and volumes traded, brokers said. The Colombo benchmark All Share Price Index closed higher 3.16 points at 7,003.57 up 0.05 percent. S&P SL20 closed 2.13 points lower at 3,784.61 lower 0.06 […]
Ravi K launches Fairway Holdings latest project
Fairway Holdings, a name synonymous with quality luxury apartment developments, launched their sixth large scale apartment project, in Koswatta, Battaramulla on Sunday 1st November. An ‘Open Day’ was held on this day for all prospective homeowners to meet the Fairway team at the site and discuss their requirements.The project is situated in close proximity to […]
‘s anti-corruption efforts are not rhetorical: Harsha De Silva
Nov 04, 2015 (LBO) – Sri Lanka’s new administration has already taken a host of measures to prevent corruption, to seek out stolen assets and to build the capacity for effectively curbing corruption and bribery, in an effective, comprehensive, result-oriented manner, the deputy minister of foreign affairs said. “Transparency, accountability and the rule of law […]
PTL Watch: More buying in bonds, CB holding of govt secs drop
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Sri Lanka’s JKH’s net up 31 pct in September quarter
Nov 04, 2015 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings profits rose 31 percent to 3.47 billion rupees in the September 2015 quarter from a year earlier, with revenues up by five percent to 22.68 billion rupees, the interim accounts showed.The firm reported basic earnings of 3.05 rupees per share for the quarter […]
Sri Lanka needs a tax intelligence unit to adapt to economy: Treasury Secy
Nov 04, 2015 (LBO) – Sri Lanka needs to establish a tax intelligence unit to identify economic changes and developments taking place and adapt these changes into the tax structure of the country, Treasury Secretary R H S Samaratunga told a forum. “What lacks in Sri Lanka’s tax system is recognizing economic changes that take place […]
Infrastructure: No land shortage in Colombo, a transformation underway, says DG UDA
Nov 04, 2015 (LBO) – Sri Lanka’s commercial capital faces a core problem of under-utilization of land and there is no land shortage, the director general of the Urban Development Authority said at the LBR LBO Infrastructure Summit. Colombo has 65,000 slum and shanty houses occupying 900 acres of real estate in Colombo, he said. […]
‘s arrivals up 8.8-pct in Oct
Nov 04, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 8.8 percent to 132,280 in October 2015 from an year earlier with continued growth in the Indian and Chinese markets.Arrivals in the first 10 months of the year were up 17.9 percent to 1.448 million, data from the state tourism authority showed.Indian tourists were up […]
Tea Smallholder Factories profit drops in Sept quarter
Nov 03, 2015 (LBO) – Sri Lanka’s Tea Smallholder Factories’ made a quarter net loss of 13 million rupees down from 3.4 million rupees profit in the same quarter last year, according to interim results sent to the Colombo Stock Exchange. The company, in which conglomerate John Keells Holdings and tea exporter Akbar Brothers have […]