Kia Motors revs up for growth with Rs.800Mn Malabe complex
Sep 02, 2019 (LBO) - Korean automaker KIA is to strengthen its presence in Sri Lanka with a distributor dealership model following the recent corporate …
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Subdued economic growth drives negative outlook for Sri Lanka banking system: Moody’s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that its negative outlook for Sri Lanka’s banking system is driven by weak operating …
Sri Lanka prepares to pioneer USD50Mn fully-fledged Ocean University
Aug 30, 2019 (LBO) – Sri Lanka’s state-run job skilling apparatus, the Technical, Vocational Education Training (TVET) sector, is now poised to receive the …
Sri Lanka eco summit to discuss SOE reform implementation weaknesses
Aug 26, 2019 (LBO) - Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. online pharmacy buy diflucan with best …
Huawei launches Ascend 910, world’s most powerful AI processor
Aug 26, 2019 (LBO) - Huawei officially launched the world's most powerful AI processor, the Ascend 910 as well as an all-scenario AI computing framework, …
Sri Lanka vehicle registrations rebound in July 2019
Aug 26, 2019 (LBO) - Sri Lanka's vehicle registrations saw a rebound across the board in July from the lows of June since, limping back to normalcy post Easter …
Virtusa to automate SLT backend services & revamp service offerings to customers
Sri Lanka Telecom (SLT), the national ICT and digital solutions provider entered into a landmark agreement with Virtusa Private Limited, a global provider of …
Central Bank to announce timeline for banks to reduce market lending rates
Aug 23, 2019 (LBO) – Sri Lanka's Central Bank with the expectation of reducing all market lending rates in line with the reduction already observed in …
Fitch rates Hatton National Bank’s Basel III sub-debt final A+(lka)
Aug 22, 2019 (LBO) – Fitch Ratings Lanka has assigned Hatton National Bank's proposed Sri Lanka rupee-denominated Basel III-compliant subordinated debentures …
Ceylinco Life reports 6-month net income of Rs.14.7Bn
Aug 21, 2019 (LBO) - Sri Lanka's Ceylinco Life reported a six month net income of 14.7 billion rupees with a premium income up 5.7 percent to 8.8 billion …
Fitch revises outlook on Singer Sri Lanka to negative; affirms at ‘A-(lka)’
Aug 21, 2019 (LBO) - Consumer-durables retailer Singer (Sri Lanka) PLC's National Long-Term Rating has been revised to negative from stable, a statement said. …
Sri Lanka unveils modern hi-tech TVET facility with South Korean backing
Aug 21, 2019 (LBO) – Backed by the global industrial giant South Korea, Sri Lanka launched its most modern national hi-tech training facility to-date on …
SEC files action against several individuals for market manipulation
Aug 20, 2019 (LBO) – Securities and Exchange Commission of Sri Lanka (SEC) has filed an action before the Fort Magistrate’s Court against several …
SLASSCOM and Norway sign collaboration agreement on ICT and entrepreneurship
Aug 20, 2019 (LBO) - The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs entered into a …
Pigeon Island partners Blue Resources Trust to create conservation programs
Aug 20, 2019 (LBO) - Sri Lankan tropical wear brand Pigeon Island, based on marine conservation and plastic recycling, recently partnered with Blue Resources …
USD160mn ADB loan to modernize Sri Lanka’s railway sector
Aug 20, 2019 (LBO) – Sri Lanka's government has mobilized loan assistance amounting to 160 million dollars from the Asian Development Bank (ADB) to cater to …
Softlogic Holdings report 7-pct growth in first six months 2019
Softlogic Holdings top line witnessed a 7% growth to Rs. 17.1 billion during the quarter ended JUNE 30, 2019 following the decline in consumer demand and …
Sri Lanka commence construction of USD2.2Bn LRT project
Aug 16, 2019 (LBO) - The Ministry of Megapolis and Western Development has commenced phase one of the construction work of the Malabe and Colombo Fort Light …
Melstacorp records Rs. 8.9 bn PAT for 2018-19
Aug 16, 2019 (LBO) - The Melstacorp group’s profit after tax for the financial year 2018-19 was 8.9 billion rupees compared to the previous year’s figure …
ComBank improves Q2 earnings despite challenges
The Commercial Bank Group has reported operating profit before impairment charges and taxes of Rs 19.476 billion for the first half of 2019, a 9.45% increase …