Tag: lbo
Kishu Gomes steps down as CEO of Chevron in Sri Lanka
May 23, 2018 (LBO) – Chevron Lubricants Lanka said that Kishu Gomes will be stepping down as Managing Director and Chief Executive Officer of the company effective 22, May 2018. In a stock exchange filling the company said that Rochana Kaul will be replacing Gomes with intimidate effect in an acting capacity. Kaul is General Manager of […]
Sri Lanka Central Bank clarifies on external debt and reserves
May 23, 2018 (LBO) – Sri Lanka’s Central bank issuing a statement has clarified a misleading news item has been disseminated in relation to Sri Lanka’s foreign reserves and external debt servicing. “The contents of the news item portray a misleading picture of the country’s external position,” it said. The full statement follows: External Debt […]
CEB strengthens Maintenance Management Process with ACECAM
Ceylon Electricity Board (CEB) is the leading state-owned organization in using Computerized Maintenance Management Solution(CMMS) for utility management in Sri Lanka with its solution partner Acecam (Pvt) Ltd. CEB continues the journey of improving their entire maintenance management process by implementing “TOMMS” which is a computerized maintenance management software (CMMS) for its critical asset management […]
‘s Teejay Lanka doubles capacity of India plant with USD15Mn expansion
May 21, 2018 (LBO) – Teejay Lanka, a textile manufacturer said they will be doubling of capacity of its Indian mill, following the completion of an expansion project involving an investment of US 15 million dollars (more than 2.3 billion rupees at current rates). Located within the 1,000-acre Brandix India Apparel City (BIAC) in Vizag, Andrapradesh, […]
ADB, Sri Lanka sign USD210Mn loan for Mahaweli water security investment program
May 18, 2018 (LBO) – The Asian Development Bank (ADB) and the Government of Sri Lanka signed a US 210 million dollar second tranche loan agreement for the Mahaweli Water Security Investment Program, the Finace Ministry siad. The programme will assist Sri Lanka complete its on going drive to deliver surplus water from the Mahaweli […]
Janashakthi life business reports Gross Written Premium of Rs.764Mn , YoY growth 8-pct
Janashakthi Insurance PLC (Janashakthi) reported its financial results for the three month period ended 31st March 2018. Janashakthi had divested its General Insurance business earlier in the quarter, generating a substantial profit of Rs. 9.2 billion at a company level during the period under review. A significant portion of the proceeds from the sale […]
Nations Trust Bank – Realizing Dreams
The Nations Trust story began more than 18 years ago when a small new bank full of determination,entered a field dominated by titans with a dream to carve out a place for itself in Sri Lanka’s Banking and financial services space. Innovation and a fresh approach have always been the Bank’s most potent tools and […]
Laugfs Gas urges Govt to introduce transparent mechanism for LPG pricing
May 18, 2018 (LBO) – Sri Lanka’s liquid petroleum gas (LPG) prices should be adjusted using a pricing mechanism that is transparent, impartial and fair, Laugfs Gas said issuing a statement. There have been significant changes in the LPG prices in the international market, which has had a detrimental impact on the local LPG industry, it said. […]
Virtusa Corp reported a Q4 2018 revenue of 281.3 million, Up 6.6-pct
(PRESS RELEASE) Fourth quarter fiscal 2018 revenue of $281.3 million, increased 6.6% sequentially and 24.5% year-over-year, inclusive of $5.7 million from the eTouch acquisition. Fourth quarter fiscal 2018 diluted EPS was $0.06 on a GAAP basis, and $0.55 on a non-GAAP basis, up 17% sequentially. Fiscal year 2018 revenue of $1,020.7 million increased 18.9% year-over-year. […]
LKR depreciation unwarranted; Reserves to reach US$ 11Bn by June 2018 :CB
May 17, 2018 (LBO) – The Central Bank of Sri Lanka says the underlying fundamentals do not warrant the current pressure on the Sri Lanka rupee. The rupee closed at 158.20/40 rupees against the US dollar in the spot market Wednesday after hitting a low low of 158.80 rupees earlier in the day. “Gross external […]
Simplicity in Business Management is here with the lightest Business App
(PRESS RELEASE) – thinkCube Systems (Pvt) Ltd, the pioneering cloud application builder, has yet again introduced an innovative product to serve the Start-up, Micro-Level and Small Enterprises. In augmenting it’s popular ezBiz Cloud Application suite for SME’s, thinkCube is launching it’s Simplified version of “ezBiz-lite” to the Sri Lankan Market on 17th May 2018. The […]
Cabinet nod for new committee to prevent money laundering and terrorism financing
May 16, 2018 (LBO) – Sri Lanka’s cabinet of Ministers has approved to widen the composition of National Coordinating Committee for preventing money laundering and terrorism funding. “Since the number of financial crimes have increased with the expansion of technology, better coordination among Government institutions is essential to face this situation successfully,” a government statement said. […]