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 …
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ICICI Bank Joins Sri Lanka’s LankaPay Common ATM Network
(PRESS RELEASE) - ICICI Bank, India's largest private sector bank by consolidated total assets, recently joined ‘LankaPay Common ATM Network’, the …
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 share of Chinese FDI going into Asia low: policy paper
Dec 30, 2016 (LBO) - Sri Lanka, which runs a trade deficit with China, should aim to increase the island's share of Chinese FDI going into Asia, a policy paper …
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 …
PUCSL recommends steps for power shortages in 1Q 2017
Dec 27, 2016 (LBO) – Sri Lanka’s electricity regulator, Public Utilities Commission has made several recommendations for the CEB to mitigate the impact of …
Businessman Dhammika Perera buys Beach Resorts for Rs330mn
Dec 27, 2016 (LBO) – Sri Lankan business tycoon Dhammika Perera has bought control of Beach Resorts limited for 330 million rupees, Amaya Leisure said. The …
Sri Lanka’s JVP demands President reveals Hambantota port agreement
Dec 27, 2016 (LBO) – Sri Lanka’s Marxist JVP today insisted the President should reveal the Hambantota port agreement to the country before signing the …
Sri Lanka Hayleys eyes 55-floor Twin Tower development project
Dec 27, 2016 (LBO) – Sri Lanka’s diversified Hayleys has approved in principle a property development project in Colombo for commercial office space. …
Sri Lanka’s Fortress Resorts to build Rs2.1bn 5-star hotel in Weligama
Dec 27, 2016 (LBO) – Sri Lanka’s Fortress Resorts through its fully owned subsidiary La Forteresse private limited has made an initial investment of 364 …
Vehicle registrations edge higher in November: JB Securities
Dec 26, 2016 (LBO) - Sri Lanka vehicle registrations edged higher in November compared with October, on most categories, likely driven by pre-budget demand, JB …
Brac Lanka Finance to raise capital with Rs1.32bn rights issue
Dec 23, 2016 (LBO) – Sri Lanka’s finance firm, Brac Lanka Finance is to raise 1.32 billion rupees by way of a rights issue, the company said in a stock …
Sri Lanka to improve public transportation in 2017: Fin Min
Dec 23, 2016 (LBO) - Several steps have been taken to improve public transportation with the building of new roads, upgrading railway, deploying priority bus …
Asia stocks pressured by Wall Street, dollar holds below 14-yr peak
SINGAPORE, Dec 23 (Reuters) - Asian stocks stepped back in subdued trade on Friday as Wall Street took a breather from its relentless rise since the …
Sri Lanka’s 10MW solar power plant commissioned, lead financing by DFCC
Dec 22, 2016 (LBO) - Sri Lanka’s first 10MW grid connected solar power project implemented by the private sector was commissioned on Wednesday, with DFCC …
Sri Lanka approves feasibility for 100MW solar park
Dec 21, 2016 (LBO) - Sri Lanka's cabinet of ministers has approved a feasibility study for construction of a 100 megawatt solar park in Siyambalanduwa, …
Sri Lanka seeks Chinese loan for South expressway consultancy
Dec 21, 2016 (LBO) – Sri Lanka is seeking a loan of Renminbi Yuan 577 million from China to finance the consultancy services for design review and …
Strong safeguards must accompany Asia’s infrastructure drive: ADB
Dec 21, 2016 (LBO) - Asia’s spending on growth-boosting infrastructure is set to get a tailwind from development financing while the safeguard systems used …
Middle Eastern firm to repair Sri Lankan Airlines engines
Dec 20, 2016 (LBO) – TS&S Aerospace, a maintenance, repair and overhaul (MRO) provider for aircraft engines in the Middle East, has been selected by …