Category: Industry
Reuters replies to Planters Association and stands by allegations
Apr 09, 2019 (LBO) – The Thomson Reuters Foundation has responded to The Planters’ Association of Ceylon (PA) statement published on www.lankabusinessonline.lk on 2nd April which claimed that the Reuters article titled ‘Tea Label Giants Vow Probe after Sri Lanka Labour expose’ on tea estates were false. Kieran Guilbart, the Thomson Reuters Foundation commissioning editor, has countered each point […]
Sampath Bank appoints Professor Malik Ranasinghe as Chairman
Professor Malik Ranasinghe, who was the Deputy Chairman of Sampath Bank since August 2016, will take on his new role from the 2nd April 2019 as the Chairman of the bank. Sampath Bank said his rich experience and deep understanding of the Bank’s core values will be invaluable in achieving its objectives. Professor Ranasinghe is […]
Sri Lanka to issue visa on arrival to tourists from 39 countries
Apr 05, 2019 (LBO) – Sri Lanka’s Cabinet of Ministers has approved a proposal to issue visa on arrival to tourists visiting the island from 39 countries. Cabinet has decided to issue these visas on gratis basis as an incentive to attract tourists. The programme will be a pilot project effective for an initial period of […]
Digital Me bags Best Digital Marketing Campaign of year 2018 at SLIM Digis 2018
(PRESS RELEASE) – Digital Me, an emerging Digital Media Company in Sri Lanka was buzzing after being honored at the SLIM Digis Awards ceremony held at Waters Edge last week. Digital Me won the prestigious Gold Award for the Best Digital Marketing Campaign of the year in the category of Retail conducted for Helanka Shoes. The […]
SriLankan Airlines formulates new 5-year Strategic Business Plan
Apr 05, 2019 (LBO) – SriLankan Airlines has formulated a new five-year Strategic Business Plan for the period 2019-24 with the objective of transforming itself into a financially viable organization airline group, a statement said. Issuing a statement the airline said the plan aims to increase brand visibility and a global reputation for excellence, while turning […]
CEB Eng Union points fingers at PUCSL and Snr. Govt officials for power crisis
Apr 04, 2019 (LBO) – The power crisis in the country is mainly due to the timely non approval of the `Least Cost Long-Term Generation Expansion Plan’ (LCLTGEP) by the Public Utilities Commission (PUCSL) and interference of top officials in the power ministry. “We put 50 percent of the blame for causing this current crisis on the PUCSL,” Saumya […]
AIA receives shareholder approval for proposal to delist from CSE
Apr 03, 2019 (LBO) – Publicly listed company AIA Insurance Lanka announced that it will delist the Company’s shares from the official list of the Colombo Stock Exchange in compliance with applicable regulations and procedures.The proposal to delist was approved by the requisite shareholder majority at the Extraordinary General Meeting held on 27 March 2019. The […]
CEB to appear in Court regarding un-scheduled power cuts
Apr 03, 2019 (LBO) – The Colombo Fort Magistrate Tuesday noticed the Ceylon Electricity Board (CEB) to be present in courts on April 9 over its failure to provide the Public Utilities Commission of Sri Lanka (PUCSL) with the reports relating to power cuts. Earlier legal action was filed against the CEB for failing to give […]
Opinion: SL Planters Assosiation on allegations of labour abuse
The Planters’ Association of Ceylon (PA) wishes to draw the general public’s attention to serious factual misrepresentations and inaccuracies initially published by Thomson Reuters Foundation and authored by freelance journalist, Lisa Fuller in her article titled: ‘Tea Label Giants Vow Probe after Sri Lanka Labour Abuse Expose’ At the outset, the PA notes with disappointment […]
Fitch rates Commercial Bank of Ceylon Basel III sub debt AA-(lka)(EXP)
Apr 02, 2019 (LBO) – Fitch Ratings has assigned Commercial Bank of Ceylon’s proposed Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of AA-(lka)(EXP). The debentures will total up to 15 billion rupees, with maturities of five and 10 years, and carry fixed coupons. The debentures will qualify as Basel III-compliant regulatory Tier 2 […]
‘s Dialog Axiata at AAA(lka); outlook stable
Apr 02, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of Sri Lanka-based telecoms company Dialog Axiata at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS Mobile-Market Leader: Dialog’s standalone credit profile of ‘AAA(lka)’ is underpinned by its market leadership in the growing mobile and pay-TV market segments. We believe that Dialog […]
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 […]