Tag: lbo.lk
How to overcome three common challenges in software outsourcing
Outsourcing is an excellent way to cut operating expenses, but it is not a perfect tool. Businesses have reported having problems with their offshore teams due to poor quality work, frustrating delays and long hours at the office. Challenges from outsourcing include lack of communication, higher than expected costs and quality not matching expectations. However, […]
Sampath Bank Marches towards Vision 2020 with Sampath Stars
Sampath Bank recommitted itself to offering technology driven, world class financial services to Sri Lankan consumers and businesses at an awe-inspiring event titled “Towards Vision 2020 with Sampath Stars” held at the Hilton Colombo, recently. Apprising over 1,000 Sampath Bank team members present of the Bank’s significant recent milestones, Mr. Nanda Fernando, Managing Director, Sampath […]
Sri Lanka tourist arrivals up 6.2-pct in May, Crosses 1Mn mark for 2018
Jun 06, 2018 (LBO) – Sri Lanka’s tourist arrivals were up 6.2 percent to 129.466 in May 2018 from a year earlier with arrivals in the first five months up 14.7 percent to 1,017,819. Arrivals from India continued its growth momentum in May while Chinese arrivals saw a dip. Indian visitors were up 23 percent to […]
‘s Ritz-Carlton Tower ready by 2021
Jun 06, 2018 (LBO) – One Transworks Square (Pvt) Ltd together with Zhong Tian Ding Hui (ZTDH) Company announced that it’s 500 million dollar “THE ONE” investment’s first tower the Ritz-Carlton residences will be ready for occupation by 2021. The 80 storeyed 326 meter Ritz-Carlton Tower will house the Ritz-Carlton hotel and residences. The project […]
Sri Lanka reserves at USD7.3Bn, Rupee depreciates 3.3-pct: CB
Jun 01, 2018 (LBO) – Sri Lanka’s Central Bank says the level of gross official reserves of the country was estimated at US 7.3 billion dollars, equivalent to 4.1 months of imports, at end March 2018. “The level of gross official reserves of the country remained at a healthy level recent past,” it said. Total […]
Nawala, Dehiwala and Rajagiriya continue as property hot-spots : Report
By Lanka Property Web A recent study done by LankaPropertyWeb.com reveals the average residential land prices around Colombo and which areas the prices have gone up. In a comprehensive study done on land for sale asking prices (for-sale prices) around Colombo listed on their website, the suburbs of Nawala, Dehiwala and Rajagiriya have topped the […]
Sri Lanka inks deal with Chinese firm for flood mitigation in Colombo
May 31, 2018 (LBO) – Sri Lanka’s Ministry of Megapolis and Western Development signed an agreement with the China Petroleum Cooperation to construct two tunnels to channel floodwater out of Colombo, yesterday. The cost of the new project is estimated at US 322 million dollars, with part funding from the World Bank through a soft loan […]
Sri Lanka signs agreement for gas exploration services
May 31, 2018 (LBO) – Sri Lanka’s Minister of Petroleum Resources Development, signed an agreement with Eastern Echo DMCC, subsidiary of a major oilfield services company Schlumberger, Wednesday to explore prospects for oil and gas resources in selected offshore areas of the island. The company will collect, market and license of petroleum data on “multi-client” basis, enabling […]
‘s JKH Group PBT up 21-pct to Rs.27.6Bn
John Keells Group profit before tax (PBT) increased by 21% to Rs.27.63 billion for the financial year ended 31 March 2018. The profit attributable to equity holders of the parent was Rs.21.02 billion, representing an increase of 29% over the Rs.16.28 billion recorded in the previous year “During the year under review, the key businesses […]
Listed Sri Lanka hospitals have strong growth prospects: Fitch
May 25, 2018 (LBO) – Listed hospitals in Sri Lanka will continue to grow strongly given growing demand for private health care, although regulatory price controls will constrain profitability, Fitch Ratings said. Long-term demand drivers are intact for private hospital operators, the report on the sector said. “Increasing demand for private healthcare is driven by […]
VAT to be reduced by 2.5-pct by 2020 : Fin Min
May 25, 2018 (LBO) – Sri Lanka will reduce Value Added Tax (VAT) by 2.5 percent in 2020 in order to relieve masses of the burden of indirect taxes, Minister MangalaSamraweera said. “It is the poor people who mostly pay taxes to the government by way of indirect taxes. We should relieve them of this […]
Ceylinco Life’s 2017 net profit grows to Rs 9.4 billionCeylinco Life’s 2017 net profit grows to Rs 9.4 billion
(PRESS RELEASE) IRCSL-mandated change in basis of valuation of Life Fund generates one-off surplus of Rs 3.456 billion Ceylinco Life has announced that its net profit for the year ending 31st December 2017 is Rs 9.467 billion, including a one-off surplus of Rs 3.456 billion generated by a change in the basis of the valuation […]