Category: Economy and Markets
Vikas Arora assumes role of Sri Lanka’s Chief Country Officer of Deutsche Bank
Apr 02, 2019 (LBO) – Vikas Arora has assumed the role of Sri Lanka’s Chief Country Officer and General Manager of Deutsche Bank AG Colombo Branch effective 1 April 2019, in addition to his role as Head of Global Transaction Banking and Head of Global Subsidiary Coverage for Sri Lanka. The bank said in a […]
50 percent probability for a policy rate cut in April: First Capital Research
Apr 02, 2019 (LBO) – First Capital Research allocates a 50 percent probability for a policy rate cut in Apr 2019 as they are of the view that policy intervention is appropriate to address the overly sluggish economic growth.Sluggish sentiment in Sri Lanka’s economy has been a major concern with the latest GDP growth for […]
Rs.79,000 million loans disbursed under Enterprise SL Program
Apr 01, 2019 (LBO) – Sri Lanka’s Finance Ministry said it had disbursed 79 billion rupees to 46,673 persons under the Enterprise Sri Lanka loan scheme so far. The loan programme was launched in on June 21, 2018. The ministry says 20,286 loans had been given for housing under a scheme called ‘Sonduru Piyasa’ and […]
Huawei CEO and Founder expects revenue to touch USD125Bn in 2019
Apr 01, 2019 (LBO) – Ren Zhengfei, CEO and Founder of Huawei, recently said that 2019 could be a difficult year for Huawei, and however the company, is targeting US 125 billion dollars in revenue. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one of the rotating chairmen at the technology […]
‘s Securities & Exchange Commission files action for insider dealing
Mar 31, 2019 (LBO) – Sri Lanka’s Securities & Exchange Commission has filed an action before the Fort Magistrate’s Court against Dr. Sena Yaddehige, for dealing in the shares of Kegalle Plantations. The commission says being the Chairman of the Company, just before a 45 rupees dividend was declared by Kegalle Plantations on 10th July 2015, which […]
Kottawa-Makumbura multimodal transport center opens 31st March
Mar 29, 2019 (LBO) – The Kottawa-Makumbura multimodal transport center, the first of its kind in Sri Lanka providing seamless access for passengers to connect among transport modes is to be declared open on March 31, 2019. It will be opened by President Maithripala Sirisena, with the participation of Prime Minister Ranil Wickramasinghe, […]
How will Brexit impact UK-SL trade: RIU report
Mar 29. 2019 (LBO) – The United Kingdom is one of the major trading partners of Sri Lanka, amounting to over 10 percent of the total annual trade. The trade between two countries has been on the upsurge for the last 18 years. In this context, the GSP+ scheme under which Sri Lanka observes a great […]
Empowering women with financial independence by closing the investment gap
Mar 29, 2019 (LBO) – As Sri Lankan women join the workforce – particularly in the corporate sector – at a higher rate than ever before, a new opportunity to bridge the wealth gap is emerging as women now turn their eyes to the world of investment. These were some of the themes explored at […]
“Apartment sales slowing due to relatively lesser cash flows for these investments” HNB CEO
Mar 27, 2019 (LBO) – Successful real estate sector outcomes will be dependent upon sound strategy that puts into place foreign investment for new projects, a senior banker said. “If the necessary national development does takes place and if foreign investment and new projects take off and GDP grows to the expected levels, I think […]
‘s Tokyo Cement Company(Lanka) board resolves amalgamation
Mar 27, 2019 (LBO) – Sri Lanka’s Tokyo Cement Company (Lanka) PLC board of directors of has resolved the amalgamation of TOKYO Super Cement Company Lanka (Private) Limited, a fully owned subsidiary company with Tokyo Cement Company (Lanka) PLC (TCCL). The name of the amalgamated Company will be Tokyo Cement Company (Lanka) PLC and the […]
OBG Sri Lanka report:Looks at steps being taken to encourage innovation and boost export earnings to USD20Bn in 2019
Mar 27, 2019 (LBO) – A new report from research and consultancy firm Oxford Business Group (OBG) shines a spotlight on Sri Lanka’s wide-ranging plan to achieve upper-middle-income status. The Report: Sri Lanka 2019 looks in detail at the steps being taken to encourage innovation across the manufacturing industry as part of the national strategy to […]
‘s Oceanpick first in South Asia to earn certification for offshore farming
Mar 27, 2019 (LBO) – Oceanpick (Pvt) Ltd., has been awarded the Best Aquaculture Practices (BAP) certification, making Sri Lanka a pioneer in South Asia -and only the 34th country in the world- with a BAP-certified facility. Oceanpick is South Asia’s first ever commercial-scale offshore oceanic farm for finfish, and is currently the only offshore […]