Tag: lbo
South Asian stock exchange officials to meet in Colombo
Feb 14, 2017 (LBO) – The Colombo Stock Exchange (CSE) will host the executive committee board meeting for the current term of the South Asian Federation of Exchanges (SAFE) on the 27th of February 2017. “The event will strengthen cooperation among our exchanges and create opportunity for cross-border investment linkages,” Vajira Kulatilaka, chairman, SAFE and CSE […]
Rice millers call for release of govt stock to maintain price control
Feb 14, 2017 (LBO) – Sri Lanka’s Small and Medium Scale Rice Mill Owners’ Association says if they are to sell rice to consumers at a controlled price the government needs to release 67,000 metric tons of paddy in store at the Paddy Marketing board. This request was made at a meeting held with Finance Minister Ravi […]
DFCC launch ‘Vardhana Sahaya’ with govt initiated ‘Swashakthi’ for small enterprise sector
(PRESS RELEASE) – After six decades of nurturing small and medium businesses to become leading enterprises in their respective sectors, DFCC Bank is pleased to launch Vardhana Sahaya, effectively extending its expertise to the small enterprise category. Vardhana Sahaya is a new product for the small enterprise sector which offers a range of financial services including […]
Japanese company plans to invest USD 1Mn in mini hydro
Feb 13, 2017 (LBO) – Japan’s Zero Plus Co. Ltd will invest one million dollars in a 700 kilowatt mini hydro project at Erathna in Ratnapura, TAD Lanka Investments (TAD), the local facilitator of this project said. The power plant is due to be commissioned in August 2017. “Despite its electricity generation being primarily run by […]
Sri Lanka puts in place competitive pricing for medium scale solar
Feb 13, 2017 (LBO) – Sri Lanka’s Power Ministry has decided to put in place a competitive pricing mechanism for medium scale solar power generation companies commencing later this week, the minister said. “This is a turning point in the pricing system and the consumers will be the beneficiaries,” Ranjith Siyambalapitiya, minister of power and renewable energy said. […]
‘s Vehicle Lanka given approval on legal advice from AG: Fin Min
Feb 13, 2017 (LBO) – Sri Lanka’s Finance Ministry says that Vehicle Lanka Pvt Ltd was given permission to engage in assembling of vehicles using spare parts on legal advice from the Attorney General. Eight containers containing used vehicle parts released from the Sri lanka Customs to its consignee who is engaged in vehicle assembling […]
JLL Sri Lanka get new Managing Director, Steven Mayes
(PRESS RELEASE) – Jones Lang LaSalle (JLL), Sri Lanka’s leading real estate consulting firm, announced the appointment of Steven Mayes asfull-time Managing Directorof its Sri Lanka operations. Mr. Mayes bring 35+ years of experience in real estate to JLL’s Sri Lanka business and will be based in Colombo. He is expected to advance the […]
Sri Lanka calls tenders for petroleum development in Mannar Basin
Feb 12, 2017 (LBO) – The Sri Lankan government is inviting expressions of interest for partners to undertake the appraisal and development of gas discoveries and prospects in a 2,900-sq km offshore block in the Mannar Basin, a statement said. The block (M2) will be offered for licensing this year, including the Barracuda and Dorado […]
Yen slips after Trump-Abe meet, Asian shares firm
TOKYO, Feb 13 (Reuters) – The dollar rose against the yen on Monday on relief that U.S. President Donald Trump set aside tough campaign rhetoric over security and jobs in a smooth meeting with Japanese Prime Minister Shinzo Abe, with no mention of currency policy. Asian stocks ticked up, helped by renewed optimism over Trump’s […]
Virtusa third quarter revenue up 3.4-pct
(PRESS RELEASE) – Revenue for the third quarter of fiscal 2017 was $217.2 million, an increase of 3.4% sequentially and 44.2% year-over-year. On a constant currency basis, (1)third quarter revenue increased 4.2% sequentially and 48.6% year-over-year. Virtusa reported GAAP income from operations of $6.5million for the third quarter of fiscal 2017, compared to $3.5 million […]
Ravi upset over Central Bank leaks, media portrayal
Feb 09, 2017 (LBO) – Sri Lanka’s Finance Minister has expressed his concern about the leak of information with regard to closed door meetings at the island’s Central Bank, and media portrayal of it. News from some boards have been leaked and then represented by politicians who have a vested interest in it, his media […]
Haycarb records turnover of Rs.9.4Bn and PBT of Rs.768Mn in Q3 2016/17
(PRESS RELEASE) – Haycarb PLC, the Sri Lankan multinational of Hayleys PLC reported revenue of Rs. 9.4 billion and profit before tax of Rs. 768 million for 9 months ending 31 December 2016. The profit after tax stood at Rs. 646 million. The turnover increased by 12%, while the profit before tax and after tax […]