Industry

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Fitch downgrades PABC, Affirms four small and mid-sized banks

Oct 17, 2016 (LBO) - Sri Lanka Fitch has downgraded Pan Asia Banking Corporation's (PABC) National Long-Term Rating to 'BBB-(lka)' from 'BBB(lka)' and …

Commercial Bank’s Rs5bn debenture issue opens on Oct 24

Oct 17, 2016 (LBO) - Sri Lanka's Commercial Bank of Ceylon second issue of debentures for 2016 is to open on 24th October, the bank said in a statement. The …

Sri Lanka’s CEB imposes 3.5 hour power cuts except in Colombo CMC

Oct 17, 2016 (LBO) – Sri Lanka’s Ceylon Electricity Board has imposed a 3.online pharmacy …

Asia Tourism Investment Conference in Nov gathers momentum

Oct 17, 2016 (LBO) - The inaugural Asia Hotel and Tourism Investment Conference in November in Colombo will be an influential gathering for the region focusing …

New opportunities for Sri Lankan companies in India

Oct 17, 2016 (LBO) - There are new opportunities for Sri Lankan companies in India, with several internal changes going on in the country, an official of a …

Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture

Oct 14, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. …

Verizon may renegotiate Yahoo deal after data breach

Oct 14, 2016 (LBO) - Verizon Communications Inc. may renegotiate its 4.8 billion dollar deal for Yahoo Inc. following the internet company’s recent …

FDI key for trade and export growth: Chinese Minister

Oct 13, 2016 (LBO) - Foreign direct investment (FDI) plays a very important role for a country to develop its trade and export growth, a senior Chinese …

Sri Lanka to provide adjustment package for FTA trade disruption

Oct 13, 2016 (LBO) – Sri Lanka will introduce a trade adjustment package for local industrialists in order to face possible trade disruptions that may occur …

Asia Capital, Japan’s Belluna in USD 50mn real-estate project

Oct 12, 2016 (LBO) - Sri Lanka's Asia Capital and Japanese Belluna company announced the launch of an apartment development project with an investment of 50 …

Sri Lanka GSP plus talks to commence in Brussels: PM

Oct 12, 2016 (LBO) - Sri Lankan premier Ranil Wickremesinghe said that he will be traveling to Brussels shortly for the Generalized System of Preferences (GSP) …

Asian Alliance changes name to Softlogic Life Insurance

Oct 11, 2016 (LBO) – Shareholders of Asian Alliance Insurance today approved a special resolution to change its name into Softlogic Life Insurance, the …

Sri Lanka’s Kotagala Plantations sells stake in Lankem Dev

Oct 11, 2016 (LBO) – Sri Lanka’s Kotagala Plantations has disposed its entire stake in Lankem Developments through the Colombo Stock Exchange at current …

Asian shares mixed, oil jumps on output curb expectations

SINGAPORE, Oct 11 (Reuters) - Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary …

Sri Lanka to limit water supply, Colombo consumption up

Oct 10, 2016 (LBO) – Sri Lanka’s Water Supply and Drainage Board has decided to limit its pump water supply in the island due to the prevailing drought …

Sri Lanka has too many telcos, 2017 to be transformative year: Harin

Oct 10, 2016 (LBO) - Sri Lanka's Minister of Digital Infrastructure and Telecommunication says that the island needs to look at ways of reducing it's …

Expo paves way for faster subcontinent cross border logistics

Oct 10, 2016 (LBO) - Expo Freight says it has achieved a significant milestone in cross border trade in the Indian subcontinent after a shipment for Marks …

JICA to help plan Kandy development with UDA

Oct 10, 2016 (LBO) - The Urban Development Authority of Sri Lanka and Japan International Cooperation Agency (JICA) will enter into technical cooperation to …