Tag: lbo.lk
Spotify Launches in Sri Lanka
Spotify, the world’s most popular audio streaming subscription service, officially launches today in Bangladesh, Pakistan and Sri Lanka, offering a revolutionary music experience tuned to your personal taste. With a worldwide community of more than 345 million monthly active listeners including 155 million Premium subscribers, Spotify will offer a personalized listening experience for local and […]
Sri Lanka January inflation at 3.7-pct
The overall rate of inflation as measured by NCPI on Year-on-Year basis is 3.7 percent in January 2021 and inflation calculated for December 2020 was 4.6 percent. Year-on-Year inflation of both food group and non food group have decreased from 7.5 percent in December 2020 to 5.9 percent in January 2021 and from 2.2 percent […]
Economy at a glance for 2020:Double whammy blow
Highlights ICRA Lanka estimates Sri Lanka’s GDP growth rate in 2020 to be -4%. In addition, our estimates indicate industry, services, and agricultural sectors to have contracted by 7.3%, 1.7% and 1.3% respectively. By mid-March the COVID crisis took center stage and the CBSL implemented a series of policy rate cuts further bringing the short-term […]
Trade Finance and Investments amalgamates into Commercial Credit and Finance PLC
Trade Finance and Investments PLC (TFI), a financial service providerhas been amalgamated into one of Sri Lanka’s pioneering finance companies, Commercial Credit and Finance PLC (CCF). The amalgamation, which came into effect from 31st December 2020 was subject to the shareholders of both companies approving the said amalgamation at Extraordinary General Meetings held on 09 […]
Softlogic Life grew 25-pct in 2020 to Rs.15.6Bn; PAT Rs.1.5Bn
Softlogic Life announced that despite all the difficulties associated with a thoroughly disrupted COVID year 2020, the Company grew revenues to record Gross Written Premium (GWP) of Rs. 15.6 billion, an increase of 25% making it the fastest Company to that mark. The strong growth follows a similar 25% growth that was achieved by the […]
Kantar to offer media monitoring service in SL
Kantar recently announced that it would start providing Media Monitoring service in Sri Lanka. The announcement comes as Kantar has agreed to acquire Nielsen’s local media monitoring business. Historically, Kantar has provided TV audience measurement in Sri Lanka. The addition of media spend monitoring positions Kantar as a key partner to Sri Lanka’s media industry. […]
Sri Lanka must keep pace with global changes: President
Private sector, State Universities and other Higher Education Institutions should work together … IT and computer knowledge for all students, regardless of field of study…. Universities should compete to attract high achievers…. Freedom for Universities to plan their studies and manage…. President Gotabaya Rajapaksa has reiterated that Sri Lanka must keep pace with transformative changes […]
Policy backsliding derails Sri Lanka’s aspirations to become maritime hub
Policy experts discuss Sri Lanka’s policy towards building future port infrastructure. “Sri Lanka losing out to regional competitors because of policy inconsistency,” says Rohan Masakorala at the panel discussion hosted by the Advocata Institute on the topic වරාය සංවර්ධනයේ ඉදිරි දැක්ම:විකිණීමක් ද, ආයෝජනයක් ද? and the surrounding policy issues on the 12th of February at the BMICH, […]
Lanka Property Web says SL real estate market stable despite pandemic
“Since the turn of the year there has been an increase in real estate activity by property buyers and sellers”, said Sri Lanka’s leading property portal LankaPropertyWeb. The company stated that a comparison between the number of visits to lankapropertyweb.com during the month of January in 2020 and 2021, showed an increase of 23% while […]
Sampath Bank report slight decline in profits for 2020
Financial Performance for the Year 2020 Sampath Bank recorded a decline in Profit After Tax (PAT), from Rs 11.1 Bn in 2019 to Rs 8 Bn for the year 2020. Despite this being a 28% decline, it is nonetheless a noteworthy result against the backdrop of the COVID-19 induced economic slowdown locally and globally. Meanwhile, […]
John Keells IT earns highly acclaimed SAP on Azure Advanced Certification
John Keells IT, a leading boutique consulting and professional services company and one of the pioneers in driving cloud adoption in the region, has achieved the rare feat of “SAP on Azure Advanced Certification” demonstrating its long-term commitment to the leading technology partners: SAP & Microsoft. “We are very pleased to attain the SAP on […]
Port City donates Rs. 20Mn worth PCR equipment and testing kits to SL
CHEC Port City Colombo donated a PCR testing machine and 5,000 PCR test kits worth over Rs. 20 million to the government today. On behalf of Mr. Jiang Houliang, Managing Director, CHEC Port City Colombo (Pvt) Ltd, Mr. Yue Yeqing, Asst. Managing Director of CPCC handed over the equipment to Hon. Basil Rajapaksa, Chairman, Presidential […]