EU discusses Sri Lanka’s GSP+ application
May 12, 2016 (LBO) - Sri Lanka’s government and the EU said the island’s GSP application was discussed at the EU-Sri Lanka Working Group on Trade and …
Industry
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Colombo suburban railway electrification project to cost USD300mn
May 12, 2016 (LBO) – Colombo suburban railway electrification project phase one which initially focuses on 64 kilometers along Veyangoda - Panadura section …
BoardPAC chosen by Bangladesh’s City Bank to debut corporate governance solution
The award-winning Sri Lanka-developed corporate governance solution BoardPAC has been selected by The City Bank, a leading commercial bank in Bangladesh,as its …
Commercial Bank Q1 profit before tax up 28-pct to Rs 4.6bn
Commercial Bank of Ceylon PLC has reported profit before VAT and NBT of Rs 5.377 billion for the three months ending 31st March 2016, commencing the year with …
Sri Lanka’s Dialog Axiata net up 35-pct in March quarter
May 12, 2016 (LBO) – Profit after tax at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television rose 35 percent to 2.6 …
Regulator asks Goldman, three other banks for information on shell companies
May 12, 2016 (LBO) - A top U.S. regulator has asked Goldman Sachs and three foreign banks about their possible involvement with shell companies, sources say. …
Sri Lanka to reform Bankruptcy laws
May 11, 2016 (LBO) – Sri Lanka’s cabinet has decided to approve amending the Companies Act No. 7 of 2007 for introduction of new laws in institutional …
MasterCard announces new platform to enhance processing capabilities
May 11, 2016 (LBO) - MasterCard launched MasterCard Integrated, a payments processing services platform that powers it’s payment transaction services, the …
Opinion: The Management Goldmine of ‘Efficiency’ and ‘Effectiveness’
By Arosha Jayasundera According to the Hakett Group, USA, there is a strong correlation between consistent use of business best practices and the ability to …
Interview: Sri Lanka Petroleum Act to parliament by July
May 11, 2016 (LBO) – The new Petroleum Resources Development Act is expected to bring in far-reaching changes and will be enacted soon, a senior Sri Lankan …
Japan’s Sony and Fujisoft ink deal with Sri Lanka’s Smart Metro
May 10, 2016 (LBO) - Smart Metro, a Sri Lankan based software development company signed two separate agreements with Sony Corporation and Fujisoft Inc, …
OTT services, threat to Sri Lankan Telco revenues and state taxes: Dialog Chief
May 10, 2016 (LBO) – Sri Lanka’s telco industry may face a threat of increasing severity arising from revenue erosion due to the impact of Over the Top …
Crescent Global brings Lloyd’s Insurance to Sri Lanka
May 11, 2016 (LBO) - Crescent Global Insurance and Reinsurance Brokers are the first Lloyd’s of London broker to open office and invest in Sri Lanka, the …
Sri Lanka’s HNB net up 73-pct in March 2016 quarter
May 10, 2016 (LBO) – Group profits at Sri Lanka’s Hatton National Bank surged 73 percent to 3.3 billion rupees in the March 2016 quarter amid strong income …
KLM to resume flights to Sri Lanka after nearly 20 years
May 09, 2016 (LBO) - KLM Royal Dutch Airlines says it will resume flights to Sri Lanka from October after almost 20 years of staying away due to the conflict …
Czech eyes hydro power, sugar and aviation in Sri Lanka
May 09, 2016 (LBO) – Czech Republic is currently looking for trade and investment opportunities in Sri Lanka, a business delegation headed by Czech …
SriLankan Airlines debt up to Rs65bn by March, group loss Rs9bn
May 09, 2016 (LBO) – Sri Lanka’s national airline's rising debt stood at 64.92 billion rupees at the end of March 2016 against 56.92 billion rupees …
Amazon climbing, we’ve crossed rubicon in climate change: Chamath Palihapitiya
May 09, 2016 (LBO) - Chamath Palihapitya, the Sri Lankan-born venture capitalist and tech visionary, highlighted several industry trends recently, ranging from …
Sri Lanka’s Nestlé unit net up 10-pct in March 2016 quarter
May 06, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group, said net profits rose 10 percent to 1.27 billion rupees in the March 2016 quarter …
Saudi agrees to share employment status of Lankan workers: Harsha de Silva
May 06, 2016 (LBO) – Saudi Arabia has agreed to periodically share employment details of Sri Lankan workers during their stay in Saudi Arabia. buy …