Tag: lbo
Pan Asia Bank posts Rs 498 mn PBT in 1Q
(PRESS RELEASE) – Pan Asia Banking Corporation PLC reported Rs 498 million in profit before tax for the quarter ended in March 31, 2018 (1Q’18) powered by a steady growth in new loans and improvement in overall margins which was resulted by prudent asset – liability pricing amidst rising market interest rates. This enabled the bank […]
Softlogic introduces the next generation data centre
Educates on upcoming new technologies of world’s largest data center infrastructure supplier Softlogic Information Technologies Pvt Ltd, one of the country’s leading software and hardware solutions providers and a subsidiary of Softlogic Holdings PLC, conducted the latest in a series of events titled “The Future Enterprise” for its corporate customers at The Galadari Hotel […]
CK Hutchison and Etisalat Group to merge Sri Lanka operations
Apr 26, 2018 (LBO) – CK Hutchison Group and Emirates Telecommunications Group Company PJSC (“Etisalat Group”) have entered into a definitive agreement to merge their mobile telecommunications businesses in Sri Lanka. They will operate under Hutchison Telecommunications Lanka (Private) Limited (“Hutch Lanka”) and Etisalat Lanka (Private) Limited (“ESL”) respectively.The combined business of Hutch Lanka and ESL […]
OPPO unleashes F7, the selfie expert phone
(PRESS RELEASE) OPPO, the Selfie Expert and Leader, today launched the F7. The latest Selfie Expert, powered by Artificial Intelligence (AI), takes smartphone technology to new heights. The F7 utilizes improved AI technology for selfie photography in addition to many more AI-powered operational features. Together with the Super Full Screen and upgraded multi-tasking software, the […]
Sri Lanka political unrest tests reform momentum: Fitch
Apr 26, 2018 (LBO) – Recent political developments in Sri Lanka have created some uncertainty over reform momentum and fiscal consolidation, and prolonged upheaval could undermine investor confidence ahead of large external debt maturities in 2019-22, says Fitch Ratings. That said, the unrest has had limited economic impact so far, and Sri Lanka’s ‘B+’ sovereign […]
Union Bank records 37-pct growth in PAT in 1Q18
Union Bank recorded an impressive Profit Before Tax and VAT of Rs.246 million, reporting a 47 percent growth YoY, thus setting the pace for its next growth phase powered by a new three-year growth strategy which includes its subsidiaries. Core Banking Growth and Profitability A significant growth in core banking operations contributed to the robust […]
Essential fuel saving tips you should know
The price of petrol and diesel are at a constant rise and it’s more important than ever to start saving fuel. Here are some essential ways you can save fuel and the burden it carries on your wallet. Drive Efficiently Save money on fuel by altering the way you drive. By braking or accelerating too […]
PUCSL hold public consultation on draft regulatory tools of lubricants
Apr 26, 2018 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), shadow regulator of the lubricant industry held a public consultation session on the draft regulatory tools related to quality and price of lubricants, recently. “The necessity of having an effective and independent mechanism for ensuring product quality, fair prices and protecting the […]
Presidential Commission on SriLankan to commence recording of evidence
Apr 26, 2018 (LBO) – President Maithripala Sirisena said that the Presidential Commission appointed to look into the alleged frauds and malpractices in SriLankan Airlines will commence recording of evidence within the next two weeks.He said at a discussion held with the trade union representatives of SriLankan Airlines at the Presidential secretariat yesterday (April 25). […]
Galle Face Properties commence construction of Renuka Tower
Apr 25, 2018 (LBO) – Sri Lanka’s Renuka Holdings Group said its subsidiary, Galle Face Properties Limited had started construction work on the 32-storey ‘Renuka Tower’. “The project will be funded with a mix of debt and equity,” the company said in a stock exchange filing. “A potion of the equity will be funded through a prospective […]
Sri Lanka Foreign Minister attends Berlin Energy Transition Dialogue
Minister of Foreign Affairs Tilak Marapana, attended the Berlin Energy Transition Dialogue (BETD), which commenced under the patronage of Federal Foreign Office and Federal Ministry for Economic Affairs and Energy of Germany on Tuesday 16 April 2018. In recent years, the Berlin Energy Transition Dialogue has become a leading international forum for high-level policymakers, industry […]
‘s massive OBOR hub for Asia bullish on Sri Lanka FTA
Apr 25, 2018 (LBO) – The South East Asian Gateway Province to mainland China’s ambitious One Belt-One Road (OBOR) initiative voiced its impatience to witness the historic Sri Lanka – China FTA’s take-off – so that bigger bilateral trade would become a reality soon. “Currently total bilateral trade between Yunnan and Sri Lanka is only US […]