ICICI Bank & Axis Bank to close down business operations in Sri Lanka
Dec 31, 2019 (LBO) – Sri Lanka’s Central Bank has permitted Axis Bank Ltd and ICICI Bank Ltd to close down their business operations in Sri Lanka, subject …
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Weekly AWPR declines to single-digit levels after April 2016: Central Bank
Dec 30, 2019 (LBO) – Sri Lanka’s Central Bank says that the weekly Average Weighted Prime Lending Rate (AWPR) has declined to single-digit levels by 27 …
Fitch revises Outlook on Sri Lanka Telecom to Negative; affirms at AA+
Dec 23, 2019 (LBO) – Fitch Ratings has revised the Outlook on Sri Lanka Telecom PLC's (SLT) National Long-Term Rating to Negative from Stable and affirmed …
Government directs banks to suspend recovery of SME loans
Dec 20, 2019 (LBO) – Sri Lanka’s Finance Ministry says the government has issued directives to Chairmen and CEOs of all banks to suspend the recovery of …
President appoints tech-studded ICTA board to drive digital Sri Lanka
Dec 20, 2019 (LBO) - In line with his vision for a Sri Lanka driven by technology, President Gotabaya Rajapaksa has appointed a tech-studded board for the …
Sri Lanka’s tallest A-grade office complex, MAGA ONE achieves full occupancy
Dec 18, 2019 (LBO) – MAGA ONE, Sri Lanka’s tallest A-grade office complex developed by the country’s largest construction company, Maga Engineering, has …
Singapore fashion platform buys Lankan software firm nCinga for USD15.5mn
Dec 17, 2019 (LBO) – Singapore-based fashion platform Zilingo has acquired Sri Lanka-based software-as-a-service (SaaS) firm nCinga Innovations for 15.5 …
Tax reduction allows Sri Lankan traders to import wheat flour instead of wheat grain
Dec 16, 2019 (LBO) – Sri Lanka's government has removed the consolidated Tax of 36 rupees per kilogram of imported wheat flour and replaced it with the …
Mobitel to play critical role as connectivity partner for Hatton National Bank
(PRESS RELEASE) - HNB as the communication and solutions partner. MEB offers industry-best ICT services and provide tailor made business solutions using big …
Sri Lanka’s Lanka Tile in JV with Chinese firm to export porcelain mosaic tiles
Dec 16, 2019 (LBO) - Lanka Tiles Plc has entered into a tripartite agreement with Foshan Shiwan Yulong Ceramic Ltd. of China and Benjamin Malloy of Dallas, …
Sri Lanka to review process adopted to revise original scope of Colombo Financial City
Dec 12, 2019 (LBO) – Sri Lanka’s cabinet nod has been received to appoint an expert committee to look into the process adopted by the previous government …
The new oil of the 21st century: Sri Lanka’s need for data scientists
Malitha Goonaratne In 2012, the Harvard Business Review named being a ‘data scientist’ the “The Sexiest Job of the 21st Century”. If that is not …
Mark Mobius says Sri Lanka has foreign investors appeal for tourism, fin-tech and real estate
Dec 11, 2019 (LBO) - Emerging markets investor, Dr. Mark Mobius highlighting Sri Lanka's strengths said he sees immense growth potential in the island as the …
Fiscal stimulus will boost demand in short-run but create instability in long-run: ICRA
Dec 11, 2019 (LBO) - The Government of Sri Lanka (GoSL) reduced variety of taxes substantially in an attempt to revive the economy, which could possibly cost …
Chinese delegation to Sri Lanka inks SME pacts, clinches many B2Bs
Dec 10, 2019 (LBO) – Facilitated by Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI), the high powered Chinese team moved on 9 …
Sri Lanka aims at 6.5-pct GDP growth from 2020
Dec 09, 2019 (LBO) - Sri Lanka’s economic activity will pick up following a series of tax cuts and the expansion of economic activity will boost Gross …
Fitch rates Nations Trust Bank’s Basel III subordinated debt final A-
Dec 05, 2019 (LBO) – Fitch Ratings has assigned Nations Trust Bank PLC's (NTB, A(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures …
Mitra Innovation Director talks 2019 accomplishments & future plans
Dec 04, 2019 (LBO) – Director and Head of Mitra Products, Bivendra Narangoda, said the Company’s Product Business Unit has had a phenomenal 2019 with an …
Ceylon Chamber optimistic that recent tax revisions will stimulate growth
Dec 04, 2019 (LBO) – The Ceylon Chamber of Commerce says they are optimistic that the revisions in taxes and levies announced by the government will …
CA Sri Lanka Annual Report Awards: ComBank crowned winner, Hayleys second place
Dec 04, 2019 (LBO) – Commercial Bank was crowned the winner at the 55th Annual Report Awards winning the coveted ‘Cyril Gardiner Memorial Trophy’ for …