Tag: lbo.lk
Sri Lanka Tourism launches one-day license renewal service for service providers
Sep 05, 2019 (LBO) – As an initiative to facilitate the renewal of licenses much faster which is an annual requirement and to deliver enhanced satisfaction to the tourism service providers, SLTDA is now fully geared to issue renewals for accommodation and service providers in one day once the relevant documents for each category are […]
Sri Lanka tourist arrivals drop in Aug 2019: Europe picks up
Sep 05, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during August 2019 was 143,587, a decline of 28.3 percent when compared with the same period last year. This month, the largest source market for tourists was India, followed by the United Kingdom and China. Almost 99 percent of tourists […]
Union Bank explores strategic options for subsidiary, UB Finance
Sep 03, 2019 (LBO) – Sri Lanka’s Union Bank said that it was in discussions with identified investor/s to explore strategic options for its subsidiary, UB Finance Company Limited (UBF). “We wish to inform you that the bank has engaged itself in discussions with identified investor/s to explore strategic options for its subsidiary,” it said […]
CCC holds 18th AGM of Sri Lanka – China Business Council
Sep 03, 2019 (LBO) – The 18th annual general meeting of the Sri Lanka – China Business Council (SLCHBC) of the Ceylon Chamber of Commerce was held recently at Taj Samudra Colombo with Yang Zuoyuan, commercial counsellor, Embassy of People’s Republic of China was the chief guest. Thulitha Mendis, director – commercial, Singer (Sri Lanka) […]
Fitch affirms rating of some Sri Lanka banks
Sep 03, 2019 (LBO) – Fitch Ratings has affirmed the long-term issuer default ratings (IDR) of the following Sri Lanka-based banks: National Savings Bank (NSB) at ‘B’; outlook stable Bank of Ceylon (BOC) at ‘B’; outlook stable Fitch has also affirmed the national long-term ratings of the following banks: NSB at ‘AA+(lka)’; outlook stable BOC […]
Capitol TwinPeaks, calls for grading system to safeguard condominium buyers and lenders
Sep 02, 2019 (LBO) – Capitol TwinPeaks, the flagship residential venture of the Sanken Group, addressed a panel of industry peers at the ‘Future of Condominium living in Sri Lanka’ on the issues faced by Condominium Developers in Sri Lanka. The event, under the leadership of President, CCI and Managing Director, Sanken Construction Pvt Ltd […]
Kia Motors revs up for growth with Rs.800Mn Malabe complex
Sep 02, 2019 (LBO) – Korean automaker KIA is to strengthen its presence in Sri Lanka with a distributor dealership model following the recent corporate structure change which saw Managing Director Mahen Thambiah securing 100 percent ownership with a total investment of 1.02 billion rupees. The seamless transition has been achieved with no reduction in […]
Sri Lanka vehicle registrations rebound in July 2019
Aug 26, 2019 (LBO) – Sri Lanka’s vehicle registrations saw a rebound across the board in July from the lows of June since, limping back to normalcy post Easter Sunday bombings. Total motor cars recorded 2,584 units in July significantly up from 1,580 units in June but significantly down from 7,162 units 12 months ago. […]
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Aug 21, 2019 (LBO) – Consumer-durables retailer Singer (Sri Lanka) PLC’s National Long-Term Rating has been revised to negative from stable, a statement said. Issuing a statement Fitch Ratings said the negative outlook reflects the challenges Singer may face in reducing its leverage, defined as net adjusted debt/EBITDAR, to below 5.5x – the level at […]
SLASSCOM and Norway sign collaboration agreement on ICT and entrepreneurship
Aug 20, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a two-year agreement to foster collaboration in the ICT industry. The newly appointed Norwegian Ambassador to Sri Lanka, H.E. Trine Jøranli Eskedal and Ranil Rajapakse, chairman SLASSCOM signed the agreement. The […]
Pigeon Island partners Blue Resources Trust to create conservation programs
Aug 20, 2019 (LBO) – Sri Lankan tropical wear brand Pigeon Island, based on marine conservation and plastic recycling, recently partnered with Blue Resources Trust, a marine research, conservation, and education non-profit organisation based in Sri Lanka. Through this partnership, Pigeon Island and Blue Resources Trust will gather research on the status of sharks and […]
Softlogic Holdings report 7-pct growth in first six months 2019
Softlogic Holdings top line witnessed a 7% growth to Rs. 17.1 billion during the quarter ended JUNE 30, 2019 following the decline in consumer demand and business sentiments. The top contributors to Group revenue were Retail (49%), Financial Services (22%) and Healthcare Services (20%). The non-core vertical which includes Automobile and Leisure & Property together […]