Dialog Axiata PLC (Dialog), Sri Lanka’s largest mobile services operator has entered into an agreement with the Bay of Bengal Gateway (BBG) consortium to land a high capacity submarine cable at a Cable Landing Station (CLS) to be located in Colombo, a statement by the company said.
Revenue of Lighthouse Hotel PLC (LHL) fell 5 percent year-on-year (YoY) to Rs. 203.1 million during the quarter ended March 31, 2013 resulting in a 57.1 million net profit as against Rs. 80.3 million during the corresponding period of the previous year, interim financials released to the stock exchange showed.
MPLN Peiris, Project Director of Sri Lanka Railway M P De Silva, Team Leader of CECB and S L Gupta, General Manager of Ircon International Limited, undertook the trial run on April 23. Other officers from Sri Lanka Railway, CECB and Ircon also participated in the trial run.
Despite the quality of the banking sector assets marginally improving in relative terms, the total volumes of nonperforming loans (NPLs) increased by as much as Rs.18 billion in 2012, according to the Central Bank Annual Report.
Sri Lanka’s Micro Cars Limited has entered into a US $ 20 million agreement with the Board of Investment (BoI) to set up a vehicle manufacturing and assembling plant in the Mirijjawila Export Processing Zone (EPZ) in Hambantota.
Sri Lanka’s Central Bank has embarked on a local and international awareness campaign to refute misinformation and present the factual position of the economy and political environment, amid alleged attempts to tarnish the country’s image.
The Central Bank (CB), the regulator of both banks and non-bank institutions, has acknowledged that a section of licenced finance and leasing companies operating in the country are undercapitalized and therefore, needs infusion of new capital.
Proposed revisions to electricity tariffs are an attempt by the Ceylon Electricity Board (CEB) to extract Rs. 34.2 billion primarily from Sri Lanka’s poorest consumers, according to Opposition Member of Parliament, Harsha De Silva.
In a move to further liberalize country’s foreign exchange controls, the Central Bank has granted permission to Dialog Axiata PLC (Dialog) to facilitate inward remittances via mobile phone technology, according to the Exchange Controller.
Owners of luxury, semi-luxury and semi-luxury dual purpose vehicles will now have to pay all taxes payable to the Department of Motor Traffic (DMT) before the expiry of 60 days from the anniversary date of the vehicle registration or end of the tax year or whichever comes first.
State banking giant, Bank of Ceylon (BOC) with an asset base of over one trillion rupees saw its group net profits in December quarter declining 16 percent to Rs.3.5 billion from the corresponding quarter in 2011, according to the quarterly financial statements released recently.
Fonterra brand ambassador and New Zealand All Blacks rugby captain, Richie McCaw visited Fonterra's milk processing site in Biyagama yesterday, to witness first-hand the company's contribution to the local dairy industry.
CBSL maintains policy interest rates at their current levels
Fitch affirms Sri Lanka at ’Restricted Default’
Tourist arrivals below expectation: SLTDA
Sri Lanka economy slows ahead of presidential elections
Planned cuts to former presidents’ perks face legal hurdles
Govt. to conduct probe into e-visa fraud: Vijitha Herath
African leaders pour in congratulatory messages to President
Police security assigned for former MPs withdrawn