Tag: lbo.lk
Uber completes one year in Colombo,Sri Lanka
Dec 14, 2016 (LBO) – Uber, the on-demand technology company has completed a year of operations in Colombo and are looking to hire more people to join their team as they expand operations in Sri Lanka. “When we launched Uber in Sri Lanka back in 2015, it was an exciting alternative to get around the city. […]
ADB Maintains Stable Outlook for Asia Despite Global Uncertainties
Dec 14, 2016 (LBO) – Economic growth in developing Asia remains broadly stable, but a slight slowdown in India has trimmed the region’s growth outlook for 2016, says a new Asian Development Bank (ADB) report. In a supplement to its Asian Development Outlook 2016 Update report, ADB has downgraded 2016 growth to 5.6 percent, below […]
“No privatization or sell off of public assets” Ravi
Dec 12, 2016 (LBO) – The government will not privatize or sell off any of the public asset and there were no provisions made under the Budget-2017 to this effect, the Finance Minister said. “The Budget-2017 has made provision to convert the country into a manufacturing economy by converting the foreign debt into equity thereby reducing […]
‘s allegation that govt is selling off assets is malicious: Ravi
Dec 07, 2016 (LBO) – Sri Lanka’s government rejects allegations made by former president Mahinda Rajapaksa that the government is selling off national assets, the Finance minister said. “This government is making meaningful endeavours to convert the infrastructure facilities constructed by the previous government at colossal cost with foreign loans,” Ravi Karunanayake, minister of finance said […]
Ceylinco Life’s income tops Rs 17 billion in nine months
Dec 06, 2016 (LBO) – Ceylinco Life has reported total income of 17.165 billion rupees for the nine months ending 30th September 2016, reflecting growth of 15.3 per cent over the corresponding period of last year. Premium income for the nine months improved by 11 per cent to 11 billion rupees, while investment and other […]
Lanka Sugar posts Rs.1 bn profit
(PRESS RELEASE) – The state owned entity Lanka Sugar, which previously reported heavy losses, has reported a profit of one billion rupees by third quarter of 2016 in comparison to the loss one billion rupees in 2015. Upto third quarter (3Q) of 2016, Lanka Sugar’s Pelwatte and Sevanagala facilities cultivated 13164 hectares of sugar canes (an […]
Asia stocks bounce as risk appetite returns after Italy vote
HONG KONG, Dec 6 (Reuters) – Asian stocks posted their biggest rise in two weeks on Tuesday and the euro steadied as investors judged the selloff after Italy’s referendum was overdone, with robust U.S. economic data also helping sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan bounced 0.8 percent, its biggest daily rise […]
Sri Lanka tile importers commend support from budget
Dec 05, 2016 (LBO) – Sri Lanka’s Tiles and Sanitary Ware Importers Association (TSIA) have welcomed the support of Budget 2017 for maintaining the reduction on import tariffs on tiles and sanitary ware. “Tiles and sanitary ware today, has become a commodity that has defined itself as a basic need. These entities are no longer […]
Vista Rooms simplifies corporate travel bookings, Cuts travel costs by 20-pct
(PRESS RELEASE) – Corporates in Sri Lanka can now sit back and relax when it comes to business travel while Vista Rooms minimizes hassle and streamlines the entire company’s travel itineraries via its one stop shop for corporate travel. Vista Rooms simplifies complex and troublesome booking procedures with a saving of 10-20% on the cost incurred […]
Asia stock funds see pockets of value after Trump sell-off
SINGAPORE, Dec 2 (Reuters) – Donald Trump’s shock election victory last month triggered a sell-off in Asian shares on heightened fears of protectionism – but for some investors, the selling marks an opportunity to buy into the region’s still compelling consumer story. Asian emerging market stocks lost 5.5 percent in the week after the […]
‘s Cargills Bank gets Theagarajah as Joint Deputy Chairman
Dec 05, 2016 (LBO) – Sri Lanka’s Cargills Bank has appointed sector veteran Rajendra Theagarajah as the Joint Deputy Chairman. He will be joined by Ranjit Page. “We are cognizant of the exemplary service that Theagarajah has rendered to the banking industry and we are confident that Cargills Bank would immensely benefit from his business […]
Huawei initiates ‘Red Revolution’ with launch of GR5 2017
(PRESS RELEASE) – Huawei, the fastest growing smartphone brand in Sri Lanka, recently unveiled their latest device into their smartphone portfolio through an interesting and attention-grabbing launch segment which took place during the Singer Lifestyle Festival 2016 which was held at the BMICH. With Huawei’s goal on painting the town red with the brand’s launching […]