Tag: lbo
Sri Lanka eco summit to discuss SOE reform implementation weaknesses
Aug 26, 2019 (LBO) – Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. Discussions around it have covered improving profitability, service and governance while examining the root causes for the continued losses incurred by SOEs. Some of the solutions for reforms are well known, but its implementation has […]
Sri Lanka vehicle registrations rebound in July 2019
Aug 26, 2019 (LBO) – Sri Lanka’s vehicle registrations saw a rebound across the board in July from the lows of June since, limping back to normalcy post Easter Sunday bombings. Total motor cars recorded 2,584 units in July significantly up from 1,580 units in June but significantly down from 7,162 units 12 months ago. […]
Ceylinco Life reports 6-month net income of Rs.14.7Bn
Aug 21, 2019 (LBO) – Sri Lanka’s Ceylinco Life reported a six month net income of 14.7 billion rupees with a premium income up 5.7 percent to 8.8 billion rupees. The company’s investment income grew 16 percent to 5.9 billion rupees while benefits and claims paid grew by 11.7 percent to 5 billion rupees. Ceylinco […]
SLASSCOM and Norway sign collaboration agreement on ICT and entrepreneurship
Aug 20, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a two-year agreement to foster collaboration in the ICT industry. The newly appointed Norwegian Ambassador to Sri Lanka, H.E. Trine Jøranli Eskedal and Ranil Rajapakse, chairman SLASSCOM signed the agreement. The […]
Softlogic Holdings report 7-pct growth in first six months 2019
Softlogic Holdings top line witnessed a 7% growth to Rs. 17.1 billion during the quarter ended JUNE 30, 2019 following the decline in consumer demand and business sentiments. The top contributors to Group revenue were Retail (49%), Financial Services (22%) and Healthcare Services (20%). The non-core vertical which includes Automobile and Leisure & Property together […]
Melstacorp records Rs. 8.9 bn PAT for 2018-19
Aug 16, 2019 (LBO) – The Melstacorp group’s profit after tax for the financial year 2018-19 was 8.9 billion rupees compared to the previous year’s figure of 6.2 billion rupees, up by 41 percent. Group turnover reached 156 billion rupees and the group contributed 64 billion rupees as taxes during the same financial year. Melstacorp […]
Sri Lanka industrial production up by 2.2-pct in Jun 2019
Aug 09, 2019 (LBO) – Sri Lanka’s industrial production has increased by 2.2 percent in the month of June compared to the same month in 2018, new data show. Among the manufacturing industries; volume of products of ‘manufacture of paper and paper products’ (42.7%), ‘manufacture of coke and refined petroleum products’ (22.3%) and ‘manufacture of […]
Applications accepted for CA Sri Lanka’s 55th annual report awards
Aug 07, 2019 (LBO) – To honor the best Annual Report masterpiece produced in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) is now accepting applications for its 55th annual report awards competition from business organizations vying for honors in financial reporting. Boosted by a progressive history spanning over half […]
Piramal Glass Ceylon reports Rs.1,585Mn in revenue for FY Q1 2019/20
Aug 07, 2019 (LBO) – Piramal Glass Ceylon PLC has reported 1,585 million rupees revenue and 21 million rupees, profit after tax for the 1st quarter of FY 2019-20. The quarter under review saw the completion of the capacity enhancement project, which was undertaken by the Company in F17. The company installed a new bottle […]
ICTA launches national IT-BPM workforce survey 2019
Aug 07, 2019 (LBO) – A new IT-BPM survey reveals the overall strength of the sector’s workforce has grown from 82,854 in 2014 to 124,873 in 2018, up 50.7 percent and is projected to leap further to 146,089 in 2019. Information and Communication Technology Agency of Sri Lanka (ICTA) initiated a national workforce survey by […]
UNP coalition announcement delayed till end August : Ranil
Aug 06, 2019 (LBO) – Prime Minister Ranil Wickremesinghe said the postponement of the formation of the Democratic National Front (DNF) was temporary and that it will be done towards the end of August. Issing a formal statement the PM reiterated that the amendment to the coalition’s constitution had been presented after the UNP Working […]
Market Research Society of Sri Lanka to introduce new socio-economic measure
Aug 05, 2019 (LBO) – The Market Research Society of Sri Lanka will be introducing its new SEC (socio-economic) measure, which takes into account a 3rd dimension, which is a lifestyle indicator. The new SEC classification will be launched at the event organised on 13th of August 2019 at JAIC Hilton, Colombo targeting the business […]