Tag: lbo
Securities and Exchange Commission DG removed with immediate effect
Mar 02, 2020 (LBO) – Securities and Exchange Commission (SEC) Director General (DG) Vajira Wijegunawardane, appointed in 2015 with an overall service to the SEC for 13 years has been removed from the post with immediate effect. The decision to remove Wijegunawardane was by the Commissioners of the SEC SEC Director Litigation Chinthaka Mendis has […]
UN rights chief regrets Sri Lanka withdrawal from resolution
Feb 28, 2020 (LBO) – The United Nations’ human rights chief expressed regret on Sri Lankan government’s decision to withdraw its co-sponsorship of a 2015 resolution backing an investigation into alleged human rights violations during the island’s civil war, Thursday. Michelle Bachelet addresssing the U.N. Human Rights Council sessions in Geneva said that the decision […]
SLTDA and BOI sign MoU to enhance cooperation between agencies
Feb 27, 2020 (LBO) – Sri Lanka Tourism Development Authority (SLTDA) and Board of Investment (BOI) signed a memorandum of understanding (MoU) to enhance the cooperation between the two agencies to reduce time and costs for foreign and domestic investors by streamlining the SLTDA and BOI investment approval processes. The signing took place at a […]
HNB posts group PAT of Rs. 15Bn
Feb 26, 2020 (LBO) – HNB PLC weathered external headwinds in 2019 to post 15 billion rupees in Group Profit After Taxes (PAT) and 14 billion rupees in Bank PAT and remains the best capitalized bank in the sector. HNB Chairman Dinesh Weerakkody stated that “the year that preceded us has been extremely challenging with […]
FM will formally inform decision of govt. to withdraw co-sponsorship of resolution
Feb 26, 2020 (LBO) – Minister of Foreign Relations, Skills Development, Employment and Labour Relations, Dinesh Gunawardena who leads the Sri Lanka delegation to the 43rd Session of the Human Rights Council is scheduled to address the High Level Segment of the Human Rights Council (HRC), Wednesday. He will formally inform the Council Members of the […]
New ADB head pledges to support development in public and private sectors
Feb 25, 2020 (LBO) – The new Asian Development Bank (ADB) Country Director in Sri Lanka, Chen Chen, assumed office in Colombo Monday. “I am honored to assume the role of Country Director at ADB’s Sri Lanka Resident Mission. I have had the opportunity of managing ADB’s transport sector portfolio in Sri Lanka in the […]
Mobitel introduces latest Apple iPad 2 and watch
As the authorized reseller for apple devices ranging from iPhones, iPads, Apple watches, Mobitel is introducing the next generation Apple iPads and Apple Watch Series 5 to the local market. Further consolidating its position as the preferred and trusted partner for apple devices. Customers can now purchase their favorite iPads and Watches at selected Mobitel […]
For Sec Aryasinha meets Human Rights Council President in Geneva
Feb 24, 2020 (LBO) – Ahead of the upcoming 43rd Session of the Human Rights Council (HRC) scheduled to commence next Monday (24 February), Foreign Secretary Ravinatha Aryasinha briefed the President of the HRC Ambassador Elisabeth Tichy-Fisslberger on the decision of the Government of Sri Lanka to withdraw its co-sponsorship of Resolution 40/1 of March […]
Safer roads to add over USD1 Tn to South Asian economies
South Asia’s eastern subregion, comprising Bangladesh, Bhutan, India, and Nepal, needs to invest an estimated extra $118 billion in road safety over the next decade to halve its road crash fatalities, says a new World Bank report, noting that this will bring $1.2 trillion in economic benefits annually, equivalent to 3.75 percent of regional GDP. […]
DFCC records Rs.2.8Bn PAT in 2019
DFCC Bank, the largest entity within the group recorded a profit after tax (PAT) of Rs 2,828 million for the year ended December 31, 2019 excluding the fair value loss on Commercial Bank of Ceylon PLC (CBC) in comparison to profit after tax of Rs 3,646 million recorded in the comparative year. The Bank’s profit […]
NDBIB wraps up 2019 with Rs.62Bn in Capital raisings
Feb 20, 2020 (LBO) – NDB Investment Bank (NDBIB) continued to execute milestone transactions in 2019, reiterating its position as the unrivalled leader in investment banking in the country recording approximately LKR 62.0 Bn in fund raisings. All business segments, namely, equity raisings, debt capital markets and mergers and acquisitions (M&A) witnessed heightened levels of […]
Ceylinco Life closes 2019 with PBT Rs.8.2Bn, Revenue of Rs.32.1Bn
Feb 19, 2020 (LBO) – Ceylinco Life has ended 2019 on a characteristically strong note, with consolidated income of 32.1 billion rupees for the 12 months ending 31st December 2019, reflecting top line growth of 9.9 percent. The life insurance frontrunner has reported gross written premium income of Rs 18.7 billion, an increase of Rs […]