Category: Economy and Markets
‘s agricultural sector
May 10, 2018 (LBO) –The European Union has launched a 810 million rupee project to support the modernization of Sri Lanka’s agriculture sector. The project “Support to the modernisation of the agriculture sector in Sri Lanka” will be implemented by Ecorys. A technical assistance team will assist the Government in making the agriculture sector more […]
Sri Lanka shows 4.2-pct unemployment rate for 2017
May 09, 2018 (LBO) – Sri Lanka’s statistics office said that the estimated unemployment rate for 2017 has been 4.2 percent. Unemployed persons are defined as persons who were not working and if they were looking for work, have taken actions to find a job and ready to accept a job given an opportunity during […]
Teejay Lanka’s PAT Rs.508Mn; Up 3-pct
May 09, 2018 (LBO) – Teejay Lanka PLC has reported a profit after tax for the March quarter of 508.4 million rupees, an increase of 3 percent principally due to a 93 percent increase in income tax which resulted in a deferred tax asset of 97.6 million rupees asa one-off gain in the fourth quarter […]
Sri Lanka Fin Min addresses ADB annual sessions in Manila
Statement made by Hon. MangalaSamaraweera, Minister of Finance and Media of Sri Lanka at the Business Session of the Asian Development Bank’s 51st Annual Session in Manila 2018 Hon. Carlos G. Dominguwz, Chairman of the ADB Board of Governors, Hon. TakehikoNakao, Presidentof the ADB, Distinguished Governors, Ladies and Gentlemen, I thank you for giving me […]
Sri Lanka should continue digitization of services to capture millennial tourists :JLL
May 08, 2018 (LBO) – Real estate consultancy Jones Lang La Salle (JLL) says the strong surge in tourist arrivals and earnings, which could be further enhanced by steps to ensure a transparent regulatory framework and improvements in soft infrastructure.Noting that two of Sri Lanka’s largest tourist markets, India and China, will account for 25 […]
Finance Minister holds discussion with ADB to expedite projects in Sri Lanka
May 04, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera who is attending the 51st Annual meeting of the ADB in Manila had discussions with In-Chang Song, an Executive Director of ADB at their headquarters today. The ADB program in Sri Lanka has provided loans, grants and technical assistance to grow the country’s economy […]
Harry J says Distilleries profits up 134-pct in 4Q17-18 after adjustments
May 04, 2018 (LBO) – Sri Lankan business magnate Harry Jayawardena in his statement to the shareholders of Distilleries said net profit after tax for the forth quarter of 2017/18 is an increase of 134 percent. Jayawardena said NPAT for the last quarter was 1,902 million rupees compared to the 811.9 million rupees reported in […]
Investor-friendly reforms to take focus in 2018 report on Sri Lanka:OBG
May 04, 2018 (LBO) – Sri Lanka’s plans to enhance its investment climate by introducing mechanisms aimed at reducing red tape and speeding up key processes will be given wide-ranging coverage in a report by the global research and consultancy firm Oxford Business Group (OBG). The Report: Sri Lanka 2018 will shine a spotlight on […]
Seylan Bank records 21-pct YoY growth in 1Q 2018; Profit-after-tax Rs.1,053Mn
May 3, 2018 (LBO) – Sri Lanka’s Seylan Bank has posted a profit after tax of 1,053 million rupees in first quarter of 2018. The Bank’s earning per share (EPS) grew by 21.57 percent to 2.88 rupees with the net asset value per share as at 31st March 2018 was 94.34 rupees (Group Rs.98.63). Net interest income […]
Seylan Bank reports 21-pct growth in 1Q 2018; records PAT of Rs.1,053 Mn
Seylan Bank made a steady start in 2018 by posting a Profit after Tax of Rs. 1,053 Million in Q1 despite less than ideal market conditions. Net interest income increased by 17.21% as the volume growth outperformed the impact arising from the narrowing of NIMs. Net fee and commission income witnessed a growth of 14.61% […]
Sri Lanka rupee slips to low of 158.00: Stocks down 0.2-pct
May 03, 2018 (LBO) – The Sri Lanka rupee hit a new low of 157.90/158.00 rupees against the US dollar during morning trade in the spot market. The rupee closed at 157.75/90 rupees against the US dollar in the spot market, Wednesday. While in the Colombo Stock Exchange,the All Share Price Index closed was trading at 6,530.77 […]
‘s Melwa Hotels and Resorts
May 03, 2018 (LBO) – The International Finance Corporation, a member of the World Bank Group,is investing US 27 million dollars in Melwa Hotels and Resorts Private Limited towards the development of 3 hotels across Sri Lanka. The investment will increase Sri Lanka’s capacity in the tourism sector, create jobs, and generate more foreign exchange, the […]