CSE approves Softlogic Finance Rs 1.9Bn Rights Issue
Softlogic Finance PLC received Colombo Stock Exchange (CSE) approval for its Rights Issue of Rs 1.9 billion and the Extraordinary General Meeting of the …
Banking and Finance
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NBFI sector to record weakest performance in current decade with substantial loss: FCR
Oct 17, 2020 (LBO) – Sri Lanka's Non-Bank Financial Institution (NBFI) sector may record a substantial loss in FY21E, the weakest performance in the current …
Exporters outlook for business and economy improves; Report
Sri Lankan exporters are more positive in their outlook with expectation for a moderate growth for export business and the economy over the next 12 months as …
UB Finance announces Rs. 1.6 billion rights issue
Oct 16, 2020 (LBO) – UB Finance, a subsidiary of Union Bank of Colombo has announced an LKR 1.6 billion rights issue to strengthen its balance sheet and meet …
Seylan Bank drives digital transformation journey with Fiorano
Oct 15, 2020 (LBO) - Seylan Bank recently announced their successful implementation of the Fiorano Hybrid Integration Platform (HIP). Fiorano Software, a …
Flemington launches third apartment project
Following the success of The Flemington’s first and second condominium development projects at Rajagiriya and 1O3 Campbell, the property developer is all set …
Cabinet approval to reorganize Non-Bank Financial Institutions Supervision Department
Oct 13, 2020 (LBO) – Sri Lanka's Cabinet of Ministers has approved a proposal to completely reorganize the Department of Supervision of Non-Bank Financial …
DIMO and NTB partner to offer exclusive leasing solutions
DIMO, the only Authorized General Distributor for Mercedes-Benz and Jeep in Sri Lanka, has continued to highlight its strong commitment towards providing …
Sri Lanka trade deficit improves in Aug 2020
Oct 12, 2020 (LBO) - Sri Lanka's trade deficit improved on a year-on-year basis with the deficit in the trade account in August 2020 narrowing to US dollars …
WB says SL economy to contract by 6.7-pct in 2020, Smart policies for informal workers key for recovery
Oct 08, 2020 (LBO) - The COVID-19 crisis in Sri Lanka has substantially clouded the outlook and exacerbated an already challenging macroeconomic situation with …
Cabinet approves new orders for ‘Special Deposit Accounts’
Oct 07, 2020 (LBO) - The approval of the Cabinet of Ministers was granted at their meeting held in April 2020 for the issuance of orders under the foreign …
Fitch places Abans Finance’s ‘BB+(lka)’ rating on Rating Watch Evolving
Oct 07, 2020 (LBO) – Fitch Ratings has placed Abans Finance PLC's (AFP) National Long-Term Rating of 'BB+(lka)' on Rating Watch Evolving (RWE). This follows …
Commercial Bank receives USD 50Mn equity from International Finance Corporation
Oct 07, 2020 (LBO) – The Commercial Bank of Ceylon has announced the completion of all formalities relating to the private placement of shares with the …
Economists urge decisive action to prevent emerging Sri Lankan debt crisis
Oct 02, 2020 (LBO ) - A panel of eminent economists urged that the Government take credible and decisive action to prevent a painful debt crisis in Sri Lanka. …
Stay home, stay safe with PickMe and Nations Trust Bank American Express
Nations Trust Bank American Express has partnered with PickMe to make it convenient and rewarding to have your favourite cuisine and groceries delivered to …
Advocata to live stream session on “How can we improve Sri Lanka’s debt sustainability” today
Sep 30, 2020 (LBO) - The Advocata Institute has launched its latest public policy discussion series 'DeepDive'. This series commences with several …
Abans to divest its stake in Abans Finance to Softlogic Capital
Sep 29, 2020 (LBO) – Abans PLC, the controlling shareholder of Abans Finance PLC, will be selling its stake in the finance company to Softlogic Capital PLC, …
Moody’s downgrades ratings of BOC, HNB & Sampath Bank; outlooks stable
Sep 29, 2020 (LBO) – Moody's Investors Service has today downgraded the long-term foreign currency deposit ratings of Bank of Ceylon (BOC), Hatton National …
CCC organize 20th Sri Lanka Economic Summit on 1-2 December 2020
Sep 28, 2020 (LBO) - The Ceylon Chamber of Commerce will be organizing the 20th Sri Lanka Economic Summit (SLES) on the 1st and 2nd of December 2020 at the …
Sampath Bank names Rushanka as Dy Chair, Keshini joins as independent Director
Sampath Bank PLC announced the elevation of Rushanka Silva as Deputy Chairman (Non-Independent, Non-Executive Director) and Deshal De Mel as Senior Independent …