Central Bank cancels licence issued to ICICI Bank Limited in Sri Lanka
Oct 23, 2020 (LBO) – The Monetary Board of the Central Bank having considered the request made by the ICICI Bank Limited, India, has granted approval to …
Industry
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Fitch affirms Melstacorp & subsidiary Distilleries at ‘AAA(lka)’; outlook stable
Oct 20, 2020 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of Sri Lanka-based conglomerate, Melstacorp PLC, and its subsidiary, …
CSE approves Softlogic Finance Rs 1.9Bn Rights Issue
Softlogic Finance PLC received Colombo Stock Exchange (CSE) approval for its Rights Issue of Rs 1.9 billion and the Extraordinary General Meeting of the …
Former Minister Ranawaka writes to Japanese PM on canceled rail project
Oct 19, 2020 (LBO) - In a letter former Megapolis Minister Patali Champika Ranawaka has extended his regret and apologies to the Japanese Government and people …
Lanka Sathosa announces new leadership team
Major Anura Pandithage (Retd.) has been appointed as the Chief Executive Officer (CEO) of Lanka Sathosa Limited with effect from 21st September 2020. He served …
Slow recovery of international tourism weighs on ratings: Fitch Ratings
Oct 19, 2020 (LBO) – The coronavirus pandemic continues to disrupt international services trade, especially tourism, Fitch Ratings said in a recent report. …
Negative PCR test report essential for all departing passengers: SriLankan Airlines
Oct 17, 2020 (LBO) – As per the directive issued by the Director General of Civil Aviation of Sri Lanka today, SriLankan Airlines informs that all passengers …
Sri Lanka’s vehicle registrations expected to down to a 17-year low in 2020
Oct 17, 2020 (LBO) – With the restriction on vehicle imports, First Capital Research (FCR) expects that Sri Lanka's vehicle registrations may down to a …
NBFI sector to record weakest performance in current decade with substantial loss: FCR
Oct 17, 2020 (LBO) – Sri Lanka's Non-Bank Financial Institution (NBFI) sector may record a substantial loss in FY21E, the weakest performance in the current …
Exporters outlook for business and economy improves; Report
Sri Lankan exporters are more positive in their outlook with expectation for a moderate growth for export business and the economy over the next 12 months as …
UB Finance announces Rs. 1.6 billion rights issue
Oct 16, 2020 (LBO) – UB Finance, a subsidiary of Union Bank of Colombo has announced an LKR 1.6 billion rights issue to strengthen its balance sheet and meet …
Seylan Bank drives digital transformation journey with Fiorano
Oct 15, 2020 (LBO) - Seylan Bank recently announced their successful implementation of the Fiorano Hybrid Integration Platform (HIP). Fiorano Software, a …
SL’s Foreign Minister calls for advancing e-commerce and e-governance in Commonwealth states
Oct 15, 2020 (LBO) - Foreign Minister Dinesh Gunawardena leading the Sri Lanka delegation to the 20th Virtual Commonwealth Foreign Affairs Ministers Meeting …
President to create market with higher price for farmers and low for consumers
Oct 15, 2020 (LBO) - President Gotabaya Rajapaksa emphasizes the requirement of establishing a market that guarantees higher prices for farmers and a …
EDB facilitates continuous operations of exporters in curfew areas
Oct 15, 2020 (LBO) – Sri Lanka Export Development Board (EDB) is providing facilitation to ensure that the operations of non-BOI, export industries located …
Opinion: Disproportionate impact of COVID-19 on women in Sri Lanka
Shihara Maduwage Media and Communications Officer, EQUAL GROUND For months, Sri Lanka has been celebrated as a nation that succeeded in containing the spread …
Flemington launches third apartment project
Following the success of The Flemington’s first and second condominium development projects at Rajagiriya and 1O3 Campbell, the property developer is all set …
Tax on essential goods removed
With due consideration to the current cost of living and difficulties associated with COVID – 19 the Government has removed import duties on essential …
EFutures joins hands with The Securities and Exchange Commission of Sri Lanka (SEC) as their strategic technology partner.
CEO of EFutures, Prashan Nagendra and Rishen Fernando – Director, Chairman of SEC, Mr. Viraj Dayaratne, Mr. Naresh Abeyesekera – Board Member and Mr. …
Cabinet approval to reorganize Non-Bank Financial Institutions Supervision Department
Oct 13, 2020 (LBO) – Sri Lanka's Cabinet of Ministers has approved a proposal to completely reorganize the Department of Supervision of Non-Bank Financial …