Tag: lbo
CB extends suspension on Pan Asia’s primary dealer unit
Jun 07, 2019 (LBO) – The Central Bank of Sri Lanka, acting in terms of the regulations made under the registered stock and securities ordinance and the local treasury bills ordinance, has decided to extend the suspension of business and activities of Pan Asia Bank’s primary dealer unit. The suspension has been extended by a […]
Sri Lanka tea prices down in May 2019
Jun 06, 2019 (LBO) – Sri Lanka’s tea prices or national average for May 2019 were down to 51.69 rupees vis-à-vis May 2018 with medium and low growns showing the biggest deficit, a report shows. “In first 5 months of year, prices show a decrease of 41.64 compared to 2018,” Forbes and Walker Tea Brokers […]
Sri Lanka tourism kicks off promotion campaign in India
Jun 04, 2019 (LBO) – Sri Lanka Tourism with the Sri Lanka Association of Inbound Tour Operators (SLAITO) and The Hotels Association of Sri Lanka (THASL) together with Sri Lankan Airlines to launched five promotional packages in the Indian market. “We look forward to activating this campaign as soon as possible in India and looking […]
Cabinet nod for implementation of promotion programs to minimize effects attacks on tourism
May 30, 2019 (LBO) – Sri Lanka’s cabinet of ministers has approved several relief packages for the tourism industry in the island. Approval was given to a proposal presented by Johm Amaratunga, minister of Tourism Development, Wild Life and Christian Religious Affairs for the implementation of a combined promotion program with overseas tour operators who […]
Sri Lanka rupee appreciated 3.8-pct against the US dollar up to 28 May 2019
May 29, 2019 (LBO) – Sri Lankan rupee appreciated against the US dollar by 3.8 percent by end March 2019 compared to end 2018. “Along with the significant reduction in the trade deficit and significant inflows to the financial account, the Sri Lankan rupee appreciated against the US dollar by 3.8 percent by end March […]
Sri Lanka exports up 5.6-pct: Imports down
May 29, 2019 (LBO) – Export earnings increased by 5.6 percent (year-on-year) while import expenditure declined by 19.3 percent during the first quarter of 2019, the Central bank said. The deficit in the trade account contracted to 1,661 million US dollars from 2,982 million dollars recorded in the first quarter of 2018. In March 2019, […]
Sri Lanka JKH revenue up 12-pct: EBITDA down 11-pct
May 28, 2019 (LBO) – Sri Lanka’s John Keells Group’s revenue increased by 12 percent to 135.46 billion rupees while recurring earnings before interest expense, tax, depreciation and amortisation (EBITDA) decreased by 11 percent to 25.67 billion rupees, for the financial year 2018/19. Company’s Chairman, Krishan Balendra said in his review, “The decline in recurring […]
Sri Lanka vehicle registrations down in Apr 2019
May 27, 2019 (LBO) – Sri Lanka’s vehicle registrations were down in almost every category in April due to the New Year and Easter holidays and subsequent turmoil in the country post Easter Sunday bombings, a new report shows. Total motor cars recorded 2,120 units in April down from 2,961 units in March and significantly […]
Advocata supports recommendations from experts on restructuring of SriLankan
May 24, 2019 (LBO) – During the ten year period when the management of SriLankan Airlines was under Emirates, the airline enjoyed a decade of profits. This is in stark contrast to the period of 2009-2017, when SriLankan Airlines was under state management, and accumulated losses of Rs. 148,707 mn. The restructuring is critical as […]
Modi wins second term
May 24, 2019 (LBO) – Indian Prime Minister Narendra Modi won a landslide victory with his party Bharatiya Janata Party (BJP) securing a larger number of seats than the 2014 election. With final results yet to be declared BJP has secured 302 out of 543 elected lower house seats so far.This would push the BJP […]
Govt plans to construct two flyovers at Kohuwala and Gatambe
May 23, 2019 (LBO) – The Cabinet of ministers has approved plans to construct two more flyovers at Gatambe in Kandy and another in Kohuwala, Colombo. Accordingly a contact will be awarded to Betonutepito Compaby Pvt Ltd in Hungary for 52 million rupees and enter into necessary loan agreements, a statement said. The proposal was […]
IIT CodeSprint 4.0 fuels entrepreneurial spirit of undergraduates
May 23, 2019 (LBO) – Informatics Institute of Technology (IIT), has commenced CodeSprint 4.0, the fourth edition of the annual event that fuels the entrepreneurial spirit of undergraduates in Sri Lanka. Building on the success of CodeSprint 3.0 held last year, the IEEE Student Branch of Informatics Institute of Technology announced CodeSprint 4.0 to providean […]