Commercial Bank becomes 1st private bank to cross Rs.1Tr in assets
(PRESS RELEASE) • Loan book and Deposits both grow by more than Rs 100 billion in 12 months • Bank pays Rs.9.385 billion by way of direct taxes The …
Companies
Overvaluation of state land keeps out foreign investors: Minister
Feb 22, 2017 (LBO) – Sri Lanka Lands Minister John Amarathunga says investors are reluctant to invest in state lands due to their overvaluation by government …
Sri Lanka’s Nestlé unit net up 34-pct in December quarter
Feb 22, 2017 (LBO) – Profits at Nestlé Lanka, a unit of a Swiss-based food group, rose 34 percent to 860 million rupees in the December 2016 quarter from a …
J L Morisons to build USD13.5mn drug manufacturing plant
Feb 17, 2017 (LBO) – Sri Lanka’s J L Morison Son and Jones (Ceylon) has resolved to make an investment of 13. online pharmacy …
Fitch revises Sri Lanka Insurance & SLT outlook to stable from negative
Feb 14, 2017 (LBO) – Sri Lanka’s Fitch Ratings has revised the outlook on Sri Lanka Insurance Corporation's insurer financial strength rating to stable …
Sri Lanka’s Sampath Bank profits surge 67-pct in Dec quarter
Feb 14, 2017 (LBO) – Shareholder profits at Sri Lanka’s Sampath Bank group surged 67 percent to 2.56 billion rupees in the December quarter from a year …
Sri Lanka’s Aitken Spence net up 36-pct in 3Q
Aitken Spence PLC recorded a strong financial performance closing the immediate 9-month period with a 9.9% year-on-year growth in profits before tax amounting …
Sri Lanka’s Vehicle Lanka given approval on legal advice from AG: Fin Min
Feb 13, 2017 (LBO) - Sri Lanka's Finance Ministry says that Vehicle Lanka Pvt Ltd was given permission to engage in assembling of vehicles using spare parts on …
SEC introduces new fee structure for Colombo share transactions
Feb 06, 2017 (LBO) – Sri Lanka’s securities regulator has introduced a new fee structure for all share transactions following a request from the CSE to …
Senkadagala Finance to raise capital with Rs579mn rights issue
Feb 03, 2017 (LBO) – Sri Lanka’s finance sector player, Senkadagala Finance, is to raise 579 million rupees by way of a rights issue, the company said in a …
Sri Lanka’s Cargills net up 38-pct in Dec with improved margins
Feb 03, 2017 (LBO) – Profits at Sri Lanka’s Cargills group, with interests in retailing and fast moving consumer goods, rose 38 percent to 637 million …
Pan Asia Bank gets 3 months to comply with interim capital requirements
Feb 01, 2017 (LBO) – Sri Lanka’s Central Bank has extended the time period allocated to raise the interim capital requirement of Pan Asia Bank by three …
Ceylon Cold Stores net up 26-pct in December quarter
Jan 30, 2017 (LBO) – Profits at Sri Lanka’s Ceylon Cold Stores rose 26 percent to 823 million rupees in the December 2016 quarter from a year earlier. …
Sri Lanka’s JKH files patent on energy storage nanomaterial
Jan 16, 2017 (LBO) - Sri Lanka's John Keells Holdings plc filed its first patent jointly with the Council for Scientific and Industrial Research (CSIR) India, …
Access Engineering invests in Rs10bn mixed development
Jan 11, 2017 (LBO) – Sri Lanka’s Access Engineering has invested 2.295 billion rupees in a joint venture to build a mixed development project at Colombo …
Microsoft Office 365 to include Bitcoin currency support
Jan 09, 2017 (LBO) – Microsoft has included controversial Bitcoin currency support for Excel spreadsheet package for their 2017 rollout plan for Office 365, …
Supun Weerasinghe appointed as group CEO of Dialog Axiata
Jan 02, 2017 (LBO) – Sri Lanka’s telecommunications blue chip Dialog Axiata today informed the stock exchange that Supun Weerasinghe has been appointed as …
Newly listed Melstacorp wants to blend revenue streams
Dec 30, 2016 (LBO) – Sri Lanka’s newly listed Melstacorp is to blend the revenue streams the group receives through its different sources to ensure an …
Sri Lanka Amana Bank seeks foreign investors for capital enhancement
Dec 30, 2016 (LBO) – Sri Lanka’s Amana Bank today said its director board is currently in discussions with prospective foreign investors to enhance their …
Sri Lanka’s Abans Finance to raise capital with Rs277mn rights issue
Dec 28, 2016 (LBO) – Sri Lanka’s finance sector player, Abans Finance, is to raise 277.34 million rupees by way of a rights issue, the company said in a …