Sampath Bank surpasses Rs 2Bn mark for PTP in quarter ended March 31
(PRESS RELEASE) – Sampath Bank surpassed Rs 2.0 billion mark to achieve post tax profit (PTP) of Rs 2.3 billion for the quarter ended March 31, …
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Lankem Ceylon buys 100-pct of bottle maker Kiffs
May 08, 2017 (LBO) – Sri Lanka’s Lankem Ceylon said it had bought a 100 percent stake in Kiffs (Private) Ltd, a pet bottle maker for 225 …
Asian shares higher, euro gains after Macron wins French election
May 08, 2017 (LBO) – Asian shares traded mostly higher on Monday following victory of Emmanuel Macron in the French elections on Sunday. Macron …
Sri Lanka raises USD1.5 bil in international sovereign bond
May 05, 2017 (LBO) – The Central Bank of Sri Lanka, on behalf of the government, has successfully priced a 1.5 billion dollar 10-year …
CA Sri Lanka members recognized as forensic accounting specialists
Over 40 members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), who hold senior management positions in the public and private …
Sri Lanka trade gap widens 35-pct in Jan; fuel imports up 102-pct
May 05, 2017 (LBO) – Sri Lanka’s exports dropped 3.8 percent to 865 million dollars in January 2017, while imports grew at a faster 13.2 percent …
Sri Lanka tourist arrivals up 17.5-pct in April 2017
May 05, 2017 (LBO) – Tourist arrivals in Sri Lanka rose 17.5 percent to 160,249 in April, after falling in the previous two months, with growth …
RTI can be game changer in Sri Lanka’s path to prosperity: World Bank
May 05, 2017 (LBO) – Sri Lanka’s newly enacted Right to Information (RTI) Act if used effectively can be key for the country’s …
SriLankan Airlines posts Rs6.5bn loss for 2016/17
May 04, 2017 (LBO) – SriLankan Airlines has recorded an unaudited group loss of 6.49 billion rupees for the financial year before finance and …
Time-based tariff system extends to single phase power consumers
May 04, 2017 (LBO) – Sri Lanka’s electricity sector regulator, the Public Utilities Commission, has approved a time-based optional tariff for the …
Registration fee for private companies slashed by 73-pct
For the first time in Sri Lanka’s corporate history, heavy fees levied for registering a new Company, has been scrubbed by the government in a big …
Ray Abeywardena appointed as new chairman at CSE
The Colombo Stock Exchange (CSE) is pleased to announce the appointment of Mr. Ray Abeywardena as the Chairman of the Board of Directors of the CSE …
Transparency in government securities market further improves: CB
The Central Bank on 26.04.2017 mandated the primary dealers and licensed banks to use the Bloomberg electronic bond trading platform to trade …
Fitch assigns Sri Lanka’s dollar bond B+ (EXP) rating
May 04, 2017 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of B+(EXP). The rating …
Sri Lanka to unveil massive incentives for large investments
May 04, 2017 (LBO) – Sri Lanka’s proposed Inland Revenue Act plans to include investment incentives which provide massive depreciation allowances …
Cabinet approves Inland Revenue, NBT Acts, revision of cess levy
May 04, 2017 (LBO) – Sri Lanka’s cabinet has given the go ahead to gazette and present in Parliament the new Inland Revenue Bill, as …
Sri Lanka proposes three-tier corporate tax structure
May 04, 2017 (LBO) – Sri Lanka’s new Inland Revenue Act seeks to introduce a three-tier simplified tax structure for corporate entities. Higher …
France to provide 30 mil euros for green energy in Sri Lanka
May 04, 2017 (LBO) – Sri Lanka will enter into a loan agreement with the French Agency for Development (AFD) to fund projects for green energy …
LAUGFS says LPG Terminal in Hambantota on schedule for 2018
May 04, 2017 (LBO) – One year into the construction of the LAUGFS LPG Import and Export Terminal in Hambantota, the first phase, with a 30,000 …
IMF reaches staff-level agreement, eyes on Inland Revenue Act
May 04, 2017 (LBO) – An IMF team has reached staff-level agreement with Sri Lankan authorities on the second review under a three-year Extended …
Must use GSP Plus period as ‘breathing space’ rather than ‘comfort zone’: CCC
The Ceylon Chamber of Commerce is encouraged by the prospects of regaining the GSP Plus trade preferences and is hopeful that the final vote at the …
Sri Lanka to regulate water services industry
May 03, 2017 (LBO) – Sri Lanka seeks to regulate water services industry by introducing a new law which includes guidelines to regularizing the …
Supreme Court declares forex bill consistent with constitution
May 03, 2017 (LBO) – Speaker Karu Jayasuriya today informed Parliament that the Supreme Court has declared that the proposed foreign exchange bill …
Sri Lanka launches e-Police clearance certificates
May 03, 2017 (LBO) – Sri Lanka’s Police has launched an ePolice certificate system with the help of ICTA for the issuance of Police Clearance …