Tag: lbo.lk
Sri Lanka headline inflation down to 25.2-pct in May 2023
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decreased to 25.2 percent in May 2023 from 35.3 percent in the previous month. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in […]
Courtyard by Marriott Colombo hosts Sri Lanka open 2023 Pro-Am golf tournament
Marriott Bonvoy, Marriott International’s award-winning travel program, teamed up with Courtyard by Marriott Colombo to host the Sri Lanka Open 2023 Pro-Am Golf Tournament. Kicking off 2023 on a green note, Marriott Bonvoy continues its long-term association with Shiv Kapur, an Arjuna Award winner and ace golfer. Shiv Kapur, a two-time European Challenge Tour champion […]
Ayodhya Iddawela Perera to take over as Sampath Bank MD from 01st July 2023
Ayodhya Iddawela Perera will take over as the next Managing Director of Sampath Bank PLC effective from the 1 st of July 2023. She will succeed the incumbent Managing Director, Nanda Fernando, who will conclude his term in office on the 30th of June 2023, leaving behind a legacy of commitment, excellence, and service to […]
Brazilian technical assistance to dairy and sugarcane industries in Sri Lanka
High-Level Technical Team of eight professionals from the Federal University of Viçosa, Federal University of Sao Carlos and the Brazilian Cooperation Agency (ABC) is scheduled to undertake a technical visit to Sri Lanka with a view to providing Brazilian Technical Assistance for the development and capacity building of the Dairy and Sugarcane industries in Sri […]
Removing PUCSL Chair via Parliament a threat to democracy and good governance: Eran
Judicial Precedence proves independent commissioners can seek court order to ensure their orders carried out Eran Wickramartne MP speaking on the debate of the resolution to remove the Public Utility Commission Chairman, asked the government that what was the great sin committed by him? The Chairman had asked the CEB to maintain the electricity supply continuously […]
Opinion: Putting customer needs first, shifting focus from flashy tech in BFSI
By Janaka Ediriweera In 2018, Nicky Morgan MP, the head of the powerful Treasury Committee (in the UK), demanded answers from the chief executives of Royal Bank of Scotland and Barclays, as millions of banking customers were locked out of their accounts, unable to access their own money or pay bills on time. She remarked, […]
Government has brought anti-corruption Bill not to catch thieves but to imprison the whistle blowers: Eran
SJB Parliamentarian Eran Wickramaratne said that the government has brought a new legislation called Anti –corruption Bill is aimed at not to prevent bribery and corruption but more to make the informants – the whistle blowers about the thieves afraid and silence them. The new anti-corruption Bill proposed by the government enshrines that a person […]
Teejay ends 2022-23 with 70-pct revenue growth despite tough H2
Posts revenue of Rs 84 billion for full year; Rs 17.3 billion in Q4 Sri Lanka’s first multinational textile manufacturer Teejay Lanka PLC has ended 2022-23 with noteworthy revenue and gross profit growth demonstrating its resilience in the face of external challenges and higher taxation that pressured profits in the second half of the […]
Will Govt place entire burden of domestic treasury bond debt optimization on EPF? Harsha
In a recent press conference MP Harsha de Silva outlined several critical points regarding the IMF Program and expressed general agreement with the stabilization program but stressed the need for specific amendments to focus the program towards medium-term growth. De Silva questioned the four-year plan outlined in the IMF Program. He pointed out that while […]
‘s tea industry with options for expansion
Ambassador Dr. Palitha Kohona attended the Belt and Road International Tea Trading Forum in Hefeng County, Hubei Province as a guest speaker. Hubei has over 700,000 hectares of immaculately tended tea gardens. Addressing the gathering of tea experts (including many academics), senior government and party officials, tea traders and diplomats, Ambassador Kohona, as an invited […]
Sampath Bank reports profit before tax of Rs 4.5Bn and profit after tax (PAT) of Rs 2.6Bn at 31st March
Sampath Bank succeeded in raising Rs 10 Bn in Tier 2 capital via a debenture issue in February 2023 and despite the depressing economic outlook in the Country, the issue was oversubscribed – a testament to the investor confidence placed in Sampath Bank and widespread acceptance of the stability and prudent governance of the Bank. […]
Comm Bank gross income grows 54.2-pct in Q1: LKR appreciation impacts loan book, deposits and assets
The Commercial Bank of Ceylon Group’s deposit base has surpassed Rs 2 trillion, a milestone it achieved in the first quarter of 2023 despite the continuing impacts of mercurial exchange rates and market interest rates, and the effects of the economic downturn on multiple sectors of business. The Group, comprising of Sri Lanka’s biggest private […]