Tag: lbo
Ericsson and Dialog partner to roll out first commercial IoT network in Sri Lanka
Mar 02, 2018 (LBO) – Dialog Axiata PLC, a local telecommunications provider, and Ericsson have rolled out the first commercial Massive IoT network supporting both Cat-M1 and NB-IoT technologies in South Asia. Deployed across Dialog Axiata’s Sri Lankan network,the advanced mobile network technology will help accelerate the proliferation of IoT devices, the company said in […]
‘s Bairaha farms to go ahead with Rs.1.3BN expansion
Mar 02, 2018 (LBO) – The Board of Directors of Bairaha Farms Group has approved an investment of 1.3 billion rupees to increase the day broiler chick production by over 50 percent, a statement said.” The Board of Directors of Bairaha Farms plans for a 1.3 billion rupee expansion over three years,” the Company said in a […]
Sri Lanka’s economic outlook, investment opportunities positive: Eran
Feb 28, 2018 (LBO) – Sri Lanka government has formulated a three-year Economic Delivery Programme to increase per capita income to US 5000 dollars, create one million new jobs, and increase FDI to US 5 billion dollars per year said the Minister of State for Finance Eran Wickramaratne. He made these comments addressing a gathering of […]
Sri Lanka needs firm policy to mitigate future refinancing risks: Fin Min
Feb 27, 2018 (LBO) – Sri Lanka faces refinancing risks in the coming years and need a concerted and coordinated policy response to mitigate such risks, Finance Minister Managala Samaraweera said. “It is clear that Sri Lanka, like many developing nations, faces such refinancing risks in the coming years. This warrants a concerted and coordinated […]
Fitch Affirms Richard Pieris &”; Outlook Stable
(PRESS RELEASE) Fitch Ratings-Colombo-26 February 2018: Fitch Ratings has affirmed Sri Lanka-based conglomerate Richard Pieris & Company PLC’s (RICH) National Long-Term rating at ‘A(lka)’ with a Stable Outlook. Fitch has also affirmed the National rating on RICH’s outstanding senior unsecured debentures at ‘A(lka)’. The affirmation of RICH’s ratings reflects our view that the improvement in […]
Allianz completes acquisition of Janashakthi General Insurance
Feb 26, 2018 (LBO) – Allianz announced the company has completed its acquisition of Janashakthi General Insurance Limited, after receiving all the necessary regulatory approvals, Monday. This transaction brings together two highly complementary businesses for enhanced scale, competitiveness and service capabilities, while positioning Allianz as one of Sri Lanka’s largest general insurers and significantly accelerating […]
Benefits of global oil price reduction should be passed on to people: Fin Min
Dec 24, 2018 (LBO) – As a result of the price formula introduced by the Government, the price of petrol and diesel has been reduced by Rs.30 and Rs.20 per litre respectively when compared with the last price increase on October 10, 2018. Therefore the Government stresses that the bus fares and the charges in […]
Sri Lanka’s external sector improve, BOP record surplus : CB
Feb 23, 2018 (LBO) – Sri Lanka’s external sector performance continued to improve in the month of December 2017, mainly with higher inflows to the Financial Account of the Balance of Payments (BOP), the Central Bank said in its latest report. . Although earnings from exports increased at a higher rate, the increase in import expenditure resulted […]
Ceylinco Life’s net profit surges 95-pct to Rs.6Bn
(PRESS RELEASE) – Ceylinco Life has posted net profit of Rs 6 billion for the year ending 31st December 2017 while reaffirming its market leadership in Sri Lanka’s life insurance industry for the 14th successive year, with premium income of Rs 15.7 billion. The company posted profit before tax of Rs 6.3 billion reflecting a remarkable70 […]
Sri Lanka up 4 notches to 91 on Corruption index
Feb 23, 2018 (LBO) – Sri Lanka has moved up four places to 91st from 95th, in the Corruption Perceptions Index (CPI) 2017 released by Transparency International with the island failing to show significant improvement. The index ranks 180 countries and territories by their perceived levels of public sector corruption. This year, New Zealand and Denmark rank highest […]
Buoyant property market witnessed at the Lanka Property Show 2018
Colombo : The 2018 edition of the Lanka Property Show was concluded successfully, drawing praise from both exhibitors and visitors. The event, which was organised by Sri Lanka’s leading property website LankaPropertyWeb.com, is the largest property show in the country and was held on the 16th and 17th of February at the Kingsbury Hotel. The […]
‘s 3rd phase
Feb 21, 2018 (LBO) – The Government has given the go ahead to award the contract for construction of 3rd phase of Central Expressway to M/S Taisei Corporation of Japan. “Tokyo Mitsubishi Bank of Japan has agreed to provide funds of Japanese Yen 100 billion and it was decided to award the contract to M/S Taisei […]