C W Mackie expands ’Sunquick’ brand with Danish joint venture
Feb 27, 2017 (LBO) – Sri Lanka’s CW Mackie has entered into a joint venture agreement with their Danish counterpart to expand the ’Sunquick' brand, the …
Industry
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Central Bank violated the law on past issuances of treasury bonds: Fin Min-Updated
(Updated with comments from press conference) Feb 27, 2017 (LBO) - Finance Minister Ravi Karunanayake has accused former president Mahinda Rajapaksa and the …
Sri Lankans consume quarter of recommended dairy intake: experts
Feb 27, 2017 (LBO) - Helping local farmers overcome challenges through training will lead to a thriving dairy industry by addressing nutritional gaps and …
Singer Sri Lanka to subdivide ordinary shares by April
Feb 24, 2017 (LBO) – Singer Sri Lanka has decided to subdivide its ordinary shares in the proportion of three shares for every one existing share held as at …
Lanka Bell reaches record 35,000+ households & businesses with Bell4G
Lanka Bell, Sri Lanka’s iconic telecom operator has achieved a significant milestone by reaching 35,000+ households and businesses with its fourth-generation …
Sri Lanka to extend credit information service providers
Feb 22, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to gazette and submit the final draft of the Credit Information Service Providers Act to …
Hotel Nippon opens to public after Rs400mn refurbishment
Feb 23, 2017 (LBO) - Sri Lanka's Hotel Nippon has reopened for tourists looking for a more sophisticated level of accommodation with a 400 million rupee …
Sri Lanka to set up special company to fund highway projects
Feb 23, 2017 (LBO) – Sri Lanka’s cabinet has approved establishing a special infrastructure company to seek funding for critical infrastructure projects, …
Seylan Bank Profit After tax exceeds Rs.4Bn in 2016
(PRESS RELEASE) Results at a glance • Total assets up by 20% to Rs. 356Bn • Net Loan book grows by 22% to Rs. 236Bn • Customer deposits grows by 22% to …
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 …
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 …
Sri Lanka to modernize procurement with electronic system
Feb 21, 2017 (LBO) - Sri Lanka will be making its public procurement more efficient and transparent with the introduction of an electronic system, the minister …
Sri Lanka sets up WTO backed mechanism for export compliance
(PRESS RELEASE) - Recording a pioneering initiative in Sri Lanka’s exports history, the country is moving to set up the first ever national level mechanism …
Sri Lanka may stop hydro power generation by end April
Feb 20, 2017 (LBO) – Sri Lanka will have to stop hydro power generation by the end of April if the prevailing dry weather condition continues, the power …
Sri Lanka Participates in SATTE Travel Exhibition in New Delhi, India
(PRESS RELEASE) - Forty seven Sri Lankan companies, Sri Lanka Tourism Promotion Bureau and Sri Lankan Airlines participated at the South Asia Travel & Tourism …
World’s largest car, truck carrier to call at Hambantota port
Feb 20, 2017 (LBO) - MV Hoegh Tracer, the world’s largest pure car and truck Carrier (PCTC), belonging to Hoegh Autoliners AS, Oslo, is scheduled to call at …
Sri Lanka-Singapore FTA to be finalised in 2017: Singapore PM
Feb 20, 2017 (LBO) - The Free Trade Agreement (SLSFTA) between Sri Lanka and Singapore will hopefully be finalised this year, Singapore Prime Minister Lee …
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 …
Waters Edge breaks ground for mega sports centre
Feb 16, 2017 (LBO) – Sri Lanka’s Urban Development Authority together with the Sports Ministry aims to create a recreation, leisure and sports facility on …