Asia Capital, Japan’s Belluna embark on USD 54Mn venture
Apr 26, 2017 (LBO) - Japanese firm Belluna Co. Ltd and Asia Capital PLC celebrated the groundbreaking ceremony of their joint venture on a US 54 million …
Banking and Finance
LBR LBO Brand Summit 2017: Building Breakthrough Brands in the Post-Marketing Age
Apr 26, 2017 (LBO) - Senior thought leaders from Sri Lanka and abroad will speak on “Marketing is Dead, Now What? – Building Breakthrough Brands in …
Petroleum union negotiations successful, strike called off
Apr 25, 2017 (LBO) - The Ceylon Petroleum Corporation (CPC) unions called off their strike late on Monday following successful discussions with Sri Lanka's …
WB and IMF to send team for solid waste management
Apr 24, 2017 (LBO) - World Bank and the International Monetary Fund have agreed to send a special team to the island to inspect solid waste management, the …
BoC records profit before tax of Rs31.2bn in 2016; highest ever in history
Bank of Ceylon, having completed many fruitful years, now has closed 2016 with another trailblazing record of Rs.31.2 billion profit before tax with 23% …
Sri Lanka’s Merchant Bank to raise Rs2bn in listed debenture
Apr 03, 2017 (LBO) – Merchant Bank of Sri Lanka and Finance is planning to raise as much as two billion rupees from a sale of debenture which will be quoted …
Sri Lanka Finance minister meets Commonwealth Secretary General Patricia Scotland
(PRESS RELEASE) - A meeting between Commonwealth Secretary General Patricia Scotland and Finance Minister Ravi Karunanayake was held recently. The meeting …
Sri Lanka Visa payments grew 22-pct in 2016
Mar 28, 2017 (LBO) – Sri Lankan market has showed 22 percent growth in Visa payment volumes last year, according to VisaNet Data, along with a 61 percent …
Comm Bank named Best Bank in Sri Lanka for 18th time by Global Finance
(PRESS RELEASE) The Commercial Bank of Ceylon has been named Sri Lanka’s Best Bank in 2017 by USA-based Global Finance, giving the Bank its third …
Ravi urges investors to make use of opportunities in Sri Lanka: summit
Mar 18, 2017 (LBO) - Sri Lanka offers investment opportunities that provide secure and diverse business options as the country has been achieving economic …
LOLC acquires majority stake in Cambodian microfinance firm
Mar 17, 2017 (LBO) – LOLC Group has acquired 48 percent stake in a micro finance company in Cambodia for 186 million US dollars through LOLC International …
CB directs finance companies to raise core capital by 2021
Mar 17, 2017 (LBO) – Sri Lanka’s central bank has issued directions on the minimum amount of core capital held by Licensed Finance Companies (LFCs) with a …
Sri Lanka’s HNB cancels EGM to appoint new director
Mar 17, 2017 (LBO) - Hatton National Bank has said that a scheduled Extra-Ordinary General Meeting (EGM) for March 27, will not be held.online pharmacy …
Sri Lanka wants Rs100mn Biotechnology Park in Homagama
Mar 16, 2017 (LBO) – Sri Lanka’s cabinet has agreed to establish the Biotechnology Innovation Park in the Nanotechnology Park in Pitipana, Homagama as a …
Commercial Bank postpones approval for rights issue
Mar 15, 2017 (LBO) – Sri Lanka’s Commercial Bank has postponed the date fixed for holding an Extraordinary General Meeting for the purpose of obtaining …
Sri Lanka’s HNB to halve carbon footprint by 2020 with renewable energy
Mar 15, 2017 (LBO) – Sri Lanka's Hatton National Bank plans to reduce its carbon footprint by half by 2020 through the generation of energy for …
S&P keeps negative outlook unchanged, confirms ‘B+’ rating on Sri Lanka
Mar 08, 2017 (LBO) - Standard and Poor global ratings affirmed its 'B+' long-term and 'B' short-term sovereign credit ratings on Sri Lanka while keeping a …
Pan Asia Bank completes Rs 2Bn rights issue
Mar 08, 2017 (LBO)- Sri Lanka's Pan Asia Banking Corporation said they were successful in completing a rights issue to raise up to 2.06 billion rupees. In …
Sri Lanka Commercial Bank to raise Tier 1 capital with rights issue
Mar 07, 2017 (LBO) – Sri Lanka’s Commercial Bank has decided to raise 10 billion rupees through a rights issue of voting and non voting shares, the company …
Sri Lanka’s DFCC Bank receives ISO 27001:2013 certification
DFCC Bank was recently awarded the ISO 27001:2013 certification in recognition of implementing the best practices in legal, physical and technical control for …