Sri Lanka’s HNB to raise Rs7bn in listed debt
Mar 09, 2016 (LBO) – Sri Lanka’s HNB said it is planning to raise as much as 7 billion rupees from a sale of debentures which will be quoted on the …
Industry
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Sri Lanka’s Laugfs Gas expands into Dubai
Mar 08, 2016 (LBO) - Sri Lanka's Laugfs Gas announced the expansion of it's regional presence with a new business venture in Dubai Multi Commodity Center …
Virtusa acquires majority interest in Polaris Consulting
Mar 07, 2016 (LBO) - Virtusa Corporation announced that its India subsidiary has acquired all of the outstanding shares of Polaris Consulting and Services …
Sri Lanka to withdraw licenses of defunct mini hydro power plants
Mar 04, 2016 (LBO) – Sri Lanka’s Power Ministry is to withdraw licenses of mini hydro power plants that have been non-operational for more than 2 years. …
AIA Insurance clarifies its position on minimum public float
Mar 04, 2016 (LBO) – AIA Insurance has issued an explanation clarifying its position on minimum public float saying the shortfall is to be rectified …
Sri Lanka tourism earnings up 23-pct; CSE net inflows down 97-pct in 2015
Mar 04, 2016 (LBO) – Sri Lanka’s earnings from tourism has increased significantly in 2015 recording a 22.6 percent increase against the previous year. In …
Sri Lanka to build elevated highway network in Colombo
Mar 03, 2016 (LBO) – The cabinet nod has been given to construct an elevated highways network in Colombo to reduce the traffic congestion and to build the …
Sri Lanka’s HNB reports highest advances and deposits in its history
Mar 03, 2016 (LBO) – Group profits at Sri Lanka’s Hatton National Bank rose 10 percent to 11 billion rupees in 2015, supported by profit after tax of 10. …
Sri Lanka promotes whale and dolphin watching tourism for Blue Economy
Mar 03, 2016 (LBO) – Sri Lanka with the Indian Ocean Rim Association (IORA) has come forward to build a sustainable whale and dolphin watching tourism in the …
Fitch downgrades ratings of state banks, finance and insurance companies
Mar 02, 2016 (LBO) – Fitch Ratings has downgraded the Issuer Default Ratings of two state banks and one finance company, a statement said. Accordingly, Bank …
Interview: Sri Lanka’s national carrier eyes turnaround
Mar 02, 2016 (LBO) – SriLankan Airlines is poised for a shift in strategy, ranging from privatisation to network restructuring, in a bid to achieve sustained …
China positive on trade, investment says Malik after visit
Mar 02, 2016 (LBO) – China is positive about Sri Lanka’s prospects as a strategically located platform for trade, investment and tourism, a statement …
Oil hits near two-month high on supply slowdown
Mar 02, 2016 (LBO) - Oil hit a near two-month high on Wednesday on the possibility that a global oversupply of crude oil has begun to shrink. online pharmacy …
US calls on Sri Lanka to join Indo-Pacific Economic Corridor
Mar 01, 2016 (LBO) – United States called Sri Lanka to strengthen cooperation on issues of regional importance through multilateral organizations like the …
Sri Lanka Customs expedites cargo clearing process
Mar 01, 2016 (LBO) – Sri Lanka Customs has accelerated its cargo clearing service to minimize delays for importers and exporters. As per the new directions, …
CT Properties acquires Keppel CT Developments for Rs550mn
Feb 29, 2016 (LBO) – CT Properties, a subsidiary of CT holdings has acquired Keppel C T Developments Private Limited (KCT) for 550 million rupees from …
Sri Lanka explores possibility to join TPP: Foreign Minister
Feb 26, 2016 (LBO) – Sri Lanka’s government is currently exploring the possibility of applying to join the Trans-Pacific Partnership very seriously, …
Sri Lanka’s LOLC Group receives USD 247Mn syndicated loan
Feb 24, 2016 (LBO) – Sri Lanka’s Lanka Orix Leasing Group announced a landmark syndication to borrow 247 million US dollars from three financial …
Dialog ventures into digital health with Asiri Hospitals
Feb 24, 2016 (LBO) – Digital Holdings Lanka, a wholly owned subsidiary of Dialog Axiata has entered in to a joint venture agreement with Asiri Hospital …
Sri Lanka’s Nestlé unit net up 4-pct in Dec quarter
Feb 24, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 4 percent to 640 million rupees in the December 2015 quarter from a …