Tag: lbo
BoardPAC chosen by Bangladesh’s City Bank to debut corporate governance solution
The award-winning Sri Lanka-developed corporate governance solution BoardPAC has been selected by The City Bank, a leading commercial bank in Bangladesh,as its paperless board meeting & corporate governance solution. The City Bank will be the first bank in Bangladesh to adopt a paperless board communications platform powered by RobiAxiata, a leading mobile phone company in […]
Advance Business Partner led ICT Gateway to link SL ICT firms with Norwegian counterparts – CCC
Under the Ceylon Chamber of Commerce and Advance Business Partner AS of Norway led Sri Lanka – Norway Matchmaking program, Sri Lankan ICT firms now have the opportunity to link up with the Norwegian counterparts to explore global opportunities. Under the latest ‘ICT Gateway’ project Norwegian firms are looking to outsource their work to overseas […]
Commercial Bank Q1 profit before tax up 28-pct to Rs 4.6bn
Commercial Bank of Ceylon PLC has reported profit before VAT and NBT of Rs 5.377 billion for the three months ending 31st March 2016, commencing the year with a robust 27.89% growth, made possible by notable improvements in business volumes and reduced growth in charges. Sri Lanka’s largest private bank’s profit before tax for the […]
China to help upgrade Sri Lankan hospitals, Japanese assistance for coast guard
May 12, 2016 (LBO) – Sri Lanka’s Cabinet has approved to use funds granted China amounting 85 million US dollars to develop the healthcare sector. “The scope of the project is to purchase essential equipment and to construct buildings in selected hospitals including provincial hospitals,” a statement on cabinet approvals said. The .proposal was made […]
Sri Lanka to reform Bankruptcy laws
May 11, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve amending the Companies Act No. 7 of 2007 for introduction of new laws in institutional bankruptcy that suit present day needs. “It has been witnessed that provisions of the Insolvency Ordinance No 24 of 1884 are not sufficient in dealing with issues related […]
Sri Lankan rupee edges down on importer dollar demand
COLOMBO, May 11 (Reuters) – The Sri Lankan rupee was marginally weaker in early trade on Wednesday on importer dollar demand, but its decline was limited as banks sold the greenback to facilitate buying of local government securities by offshore investors, dealers said. Downward pressure on the local currency would likely ease on expected fund […]
MasterCard announces new platform to enhance processing capabilities
May 11, 2016 (LBO) – MasterCard launched MasterCard Integrated, a payments processing services platform that powers it’s payment transaction services, the company said in a statement. “The platform enables issuers and acquirers to launch secure payments programs to their customers with greater speed and convenience,” a statement said. The card will now offer fully-integrated hosted processing […]
Interview: Sri Lanka Petroleum Act to parliament by July
May 11, 2016 (LBO) – The new Petroleum Resources Development Act is expected to bring in far-reaching changes and will be enacted soon, a senior Sri Lankan government official told Lanka Business Online. “The bill is currently awaiting certification from the Attorney General’s department prior to being taken up in Cabinet and is expected to […]
Japan’s Sony and Fujisoft ink deal with Sri Lanka’s Smart Metro
May 10, 2016 (LBO) – Smart Metro, a Sri Lankan based software development company signed two separate agreements with Sony Corporation and Fujisoft Inc, Tuesday. The company will be the new sole agent for the distribution and application of Sony’s Near Field Communication (NFC) Technology widely known as ‘FeliCa’ and Fujisoft ‘s Finger-vein Biometric Authentication […]
Sri Lanka seeks FTAs with Singapore, Malayasia and Turkey
May 06, 2016 (LBO) – Sri Lanka is exploring free trade agreements with Singapore, Malaysia and Turkey, a minister said. ““Countries like Sri Lanka need to thrive on the export of products and services on the way to create vibrant economies,” Malik Samarawickrama, minister of development strategies and international trade, said. “We are now on […]
Trinco to be developed as agri and energy hub
May 05, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve a planning review to be done to develop Trincomalee and surrounding cities in the islands east. ”The Trincomalee area has been identified as major zone that could be developed as agricultural and energy hubs under the development program of the present government,” a statement […]
Tourist arrivals in Sri Lanka up 20.0-pct upto April
May 04, 2016 (LBO) – Sri Lanka’s tourist arrivals for the first four months were up 20 percent to 721,185, official data said. In April arrivals rose 11.6 percent from a year earlier to 136,367 with continued gains in India and China. Visitors from India rose 12.3 percent to 25,890 in April while Chinese tourists […]