Tag: lbo
We cannot allow irrational laws to impede our economy: President
May 15, 2020 (LBO) – President Gotabaya Rajapaksa said that irrational laws should not obstruct the policies formulated to achieve the economic objectives of the people. The President stated this during a discussion with officials and ministry secretaries attached to the Plantation Industry sector at the Presidential Secretariat on May 14.The meeting was called to […]
SLT Group 1Q 2020 operating profits grow by 28-pct to Rs.3.2Bn
May 15, 2020 (LBO) – Sri Lanka Telecom PLC Group released its financial results for the three months ending on 31st March 2020. The Total revenue for the quarter recorded Rs.22.1 Bn, which is a 3.8% growth compared to the Rs. 21.3 Bn during the same period in 2019. Stringent measures were taken to manage […]
COVID-19 economic impact could reach $USD 8.8TR globally: New ADB report
May 15, 2020 (LBO) – The global economy could suffer between $5.8 trillion and $8.8 trillion in losses—equivalent to 6.4% to 9.7% of global gross domestic product (GDP)—as a result of the novel coronavirus disease (COVID-19) pandemic, says a new report released by the Asian Development Bank (ADB) today. The report, Updated Assessment of the Potential […]
Local epidemiology should guide focused action in ‘new normal’ COVID-19 world: WHO
May 15, 2020 (LBO) – Amid rising cases of COVID-19 and as countries in WHO South-East Asia Region ease lockdowns in a graded manner, WHO today said careful assessment of local epidemiology should guide future actions to combat the virus. “Countries in the Region must continue to take evidence-informed action and conduct careful risk assessments […]
Guidelines on issuance and payment of power bills during Covid and immediately after
May 15, 2020 (LBO) – These guidelines include the interim measures suggested to be followed by Ceylon Electricity Board (CEB) and Lanka Electricity Company Pvt. Ltd (LECO) in order to facilitate the issuance of utility bills and to facilitate the Customer with additional services (if required) for the payment of bills during the curfew period […]
Teejay ends 2019-20 with net profit up 28-pct
May 15, 2020 (LBO) – Textile manufacturer Teejay Lanka PLC has ended 2019-20 on an encouragingly strong note, despite its projected fourth quarter profit growth being eroded by production shutdowns at all plants in conformity with the lockdowns in Sri Lanka and India necessitated by the COVID-19 pandemic. Sri Lanka’s only multinational textile producer has […]
Singer Finance Rs.1Bn debenture issue oversubscribed
May 15, 2020 (LBO) – Singer Finance (Lanka) PLC received a strong vote of confidence from investors with its recent Listed, Rated, unsecured, senior, redeemable three year and five year, one billion rupee debenture issue being oversubscribed. The subscription closed on Wednesday the 13th of May 2020. This Debenture issue is rated BBB (lka) by […]
SriLankan Airlines offers passage for travelers supporting lockdown ease
May 12, 2020 (LBO) – Taking into consideration the reopening of economic activity in the world followed by easing of some travel restrictions between countries, SriLankan Airlines is now offering services to passengers who are eligible to travel under the respective country travel advisories to London, Tokyo (Narita) Melbourne and Hongkong and beyond. Accordingly, passengers who […]
Dialog & Huawei donate telepresence infrastructure and connectivity to Health Min
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, and Huawei Technologies Lanka Co., (Pvt) Ltd, donated Telepresence and connectivity solutions to 30 hospitals covering district general hospitals, teaching hospitals and the designated COVID-19 treatment centres that operate under the aegis of Ministry of Health and Indigenous Medical Services (MOH). The fully-fledged Telepresence platform is set […]
Sri Lanka delisted by European Commission from list of high risk 3rd countries
May 12, 2020 (LBO) – The European Commission has de-listed Sri Lanka from its list of High Risk Third Countries with Anti- Money Laundering and Countering the Financing of Terrorism Strategic Deficiencies published on May 07, 2020. Since the listing by the FATF, the Financial Intelligence Unit (FIU) together with other stakeholders had taken a […]
Identify potential future risks and strive with vigilance: President
May 12, 2020 (LBO) – President Gotabaya Rajapaksa has stressed the importance of perseverance without faltering in the battle against COVID-19 while maintaining public life and economy alive at the same time.The President noting that the entire country has commenced economic activities emphasized that no room should be left for a famine to follow the pandemic. […]
RIU hosts webinar on current real estate market
May 11, 2020 (LBO) – Research Intelligence Unit (RIU) webinar discusses current real estate market, building resilience and exploring new opportunities.