REIT’s can open new doors for Sri Lanka’s real estate market
Feb 24, 2016 (LBO) – Sri Lanka’s property market will see new market space opening up with the introduction Real Estate Investment Trusts (REITs), a new …
Industry
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ADB to help Sri Lanka expand Colombo port operations using PPP
Feb 24, 2016 (LBO) - The Asian Development Bank (ADB) and Sri Lanka Ports Authority (SLPA) signed a transaction advisory services agreement Tuesday to develop …
Sri Lanka offers discount for Myanmar Transshipments, threat from Vizhinjam
Feb 23, 2016 (LBO) – Sri Lanka Ports Authority has decided to grant a 10 percent discount on transshipment handling charges of the ship companies who comply …
Samsung unveils Galaxy S7 and S7 edge next generation smartphones
Feb 22, 2016 (LBO) – Samsung Electronics on Monday announced the newest additions to the Galaxy family of products, Samsung Galaxy S7 and Galaxy S7 edge. …
Sri Lanka’s Ceylon Tobacco unit profits down 7.7-pct in Dec
Feb 20, 2016 (LBO) – Profits at Ceylon Tobacco, a unit of British American Tobacco fell 7.7 percent to 1,834 million rupees in the December quarter, interim …
Sampur power plant receives environment approval; construction soon: Power Min.
Feb 19, 2016 (LBO) – The construction work of the Sampur coal power plant will start soon as the project received the environment approval early this month, …
French Total inks oil exploration deal with Sri Lanka
Feb 18, 2016 (LBO) – Total, a French oil and gas company, has signed a deal with Sri Lanka to explore for oil in the island's east coast, a Petroleum …
Sri Lanka’s Commercial Bank to raise Rs7bn in debentures
Feb 18, 2016 (LBO) – Sri Lanka’s Commercial Bank said it was planning to raise as much as 7 billion rupees from the sale of debentures which will be quoted …
Sri Lanka stocks close down 0.2-pct; Insufficient liquidity level
Feb 18, 2016 (LBO) – Sri Lankan stocks closed down at 0.19 percent with mixed investor sentiment and active trading in some banking sector stocks on earning …
Sri Lanka’s Orient Finance IPO backed by Janashakthi
Feb 18, 2016 (LBO) – Sri Lanka's Orient Finance initial public offering was backed by Janashakthi Insurance given the trying market conditions for raising …
Sri Lanka’s Sampath Bank net up 15-pct in Dec quarter
Feb 17, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 15 percent to 1.5 billion rupees in the December quarter from a year earlier, …
Sri Lanka’s hills to get new domestic airport
Feb 17, 2016 (LBO) – Sri Lanka’s Ministry of Transport and Civil Aviation said that a new domestic airport to land light aircraft's will be constructed in …
Laugfs Power acquires Pams Power for 2MW mini hydro
Feb 17, 2016 (LBO) - Laugfs Power, a wholly-owned subsidiary of Laugfs Gas PLC, announced the acquisition of Pams Power (Pvt) Ltd for 200 million rupees to set …
Sri Lanka’s Dialog Axiata net down 58-pct in December quarter
Feb 17, 2016 (LBO) – Profits at Sri Lanka’s Dialog Axiata group, which has interests in mobile, fixed and pay television, declined 58 percent to 620 …
Alpha Fire Services launches new water mist technology to combat kitchen fires
Colombo. Tuesday 16 February 2016. Alpha Fire Services (Pvt) Ltd Sri Lanka will showcase the Proano Kitchen Water Mist Fire Suppression Systems, which are …
Saudi Arabia, Russia agree to oil output ‘freeze’
Feb 16, 2016 (LBO) - Saudi Arabia and Russia have agreed to 'freeze' crude oil output after talks in Qatar, fixing production at January levels. Saudi Oil …
Oil Bills Shrink for Most APAC Sovereigns: Fitch
Feb 16, 2016 (LBO) - Falling oil prices – with the benchmark Brent crude having tumbled by 44 percent yoy as of 11 February 2016 and 75 percent from early …
Fitch Rates Hatton National Bank’s Subordinated Debt Final ‘A+(lka)’
Fitch Ratings-Colombo-16 February 2016: Fitch Ratings has today assigned Hatton National Bank PLC's (HNB, AA-(lka)/Stable) proposed subordinated debentures of …
Lanka IOC profits up 45-pct in December quarter
Feb 15, 2016 (LBO) – Profits at Lanka IOC, a unit of Indian Oil Company rose 45 percent to 882 million rupees in the December quarter, interim accounts …
Sri Lanka’s LOLC December net up 60-pct
Feb 15, 2016 (LBO) – Profits at Sri Lanka’s LOLC group which has interests in financial services, insurance, plantations, trading and leisure rose 60 …