Japanese startup plans Sri Lanka’s first electric vehicle plant
May 03, 2018 (LBO) - Tokyo based high-tech research and development startup is planning Sri Lanka’s first ever large, industry scale electric vehicle (EV) …
Industry
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Planters’ Association hails decision to lift ban on glyphosate
May 02, 2018 (LBO) - The Planters’ Association of Ceylon (PA) issued a statement commending yesterday’s Government decision to lift the arbitrary ban on …
Mobitel to host Google I/O Extended Sri Lanka 2018
May 02, 2018 (LBO) – Sri Lanka’s National Mobile Service Provider, Mobitel is organizing the biggest tech event of the year, the Google I/O Extended on the …
Dinesh Weerakkody appointed as new Chairman of Hatton National Bank
May 01, 2018 (LBO) – Dinesh Weerakkody has been appointed as the new Chairman of Hatton National Bank with effect from 26 May 2018. The new appointment came …
Sri Lanka’s telco merger to relieve competitive pressure: Fitch
May 01, 2018 (LBO) - The merger between Hutchison Telecommunications Lanka (Private) Ltd and Etisalat Lanka (Private) Ltd is likely to relieve some competitive …
Jude Fernando to head Janashakthi
May 01, 2018 (LBO) - Sri Lanka's Janashakthi Insurance PLC announced the appointment of Jude Fernando as the company’s Director / Chief Executive Officer …
DFCC group profits drop in Q1 2018
May 01, 2018 (LBO) - Sri Lanka's DFCC Group recorded a profit before tax of 1,545 million rupees and profit after tax of 1,110 million rupees as compared to …
Pan Asia Bank posts Rs 498 mn PBT in 1Q
(PRESS RELEASE) - Pan Asia Banking Corporation PLC reported Rs 498 million in profit before tax for the quarter ended in March 31, 2018 (1Q’18) powered by a …
China Harbour Engineering to construct 7-star Achilleion project
Apr 27, 2018 (LBO) – Sri Lankan real estate player Blue Mountain has signed an agreement with China Harbour Engineering Company Ltd. (CHEC) to build …
CK Hutchison and Etisalat Group to merge Sri Lanka operations
Apr 26, 2018 (LBO) - CK Hutchison Group and Emirates Telecommunications Group Company PJSC (“Etisalat Group”) have entered into a definitive agreement to …
OPPO unleashes F7, the selfie expert phone
(PRESS RELEASE) OPPO, the Selfie Expert and Leader, today launched the F7. The latest Selfie Expert, powered by Artificial Intelligence (AI), takes smartphone …
Nawaloka & Durdans join Asiri in DOC990 Joint Venture with Dialog
Apr 26, 2018 (LBO) – DOC990 operated by Digital Health (Pvt) Ltd together with Asiri Hospital Holdings on Wednesday announced the expansion of the joint …
Union Bank records 37-pct growth in PAT in 1Q18
Union Bank recorded an impressive Profit Before Tax and VAT of Rs.246 million, reporting a 47 percent growth YoY, thus setting the pace for its next growth …
PUCSL hold public consultation on draft regulatory tools of lubricants
Apr 26, 2018 (LBO) - The Public Utilities Commission of Sri Lanka (PUCSL), shadow regulator of the lubricant industry held a public consultation session on the …
Presidential Commission on SriLankan to commence recording of evidence
Apr 26, 2018 (LBO) - President Maithripala Sirisena said that the Presidential Commission appointed to look into the alleged frauds and malpractices in …
Galle Face Properties commence construction of Renuka Tower
Apr 25, 2018 (LBO) - Sri Lanka’s Renuka Holdings Group said its subsidiary, Galle Face Properties Limited had started construction work on the 32-storey …
China’s massive OBOR hub for Asia bullish on Sri Lanka FTA
Apr 25, 2018 (LBO) - The South East Asian Gateway Province to mainland China's ambitious One Belt-One Road (OBOR) initiative voiced its impatience to witness …
NTB launch Open API Banking
Apr 25, 2018 (LBO) - Sri Lanka's Nations Trust Bank has launched a API Banking Platform enabling clients to integrate the bank’s services directly into …
Resus Energy to add more hydro power to national grid
Hydro electricity is the oldest and the principal source of electricity generation in Sri Lanka. Its unique geography renders the country perfectly suited for …
Cargills Bank gathers momentum in 2017
(PRESS RELEASE) - In its third year of operations, Cargills Bank achieved a satisfactory profit before tax of Rs. 621Mn, which included a substantial one-off …