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Sri Lanka state sector asked to generate revenue for national economy: PM
Dec 03, 2015 (LBO) – Sri Lanka’s state-owned enterprises have to perform better towards contributing to the national economy, Prime Minister Ranil Wickremesinghe said.“Our first focus is on the state enterprise and we will ensure that there is better performance in the state enterprises in the coming few years,” he said. “We are keeping the […]
Fireside chat with Kris Canekeratne, Chairman and Chief Executive Officer of Virtusa Corporation
Kris Canekeratne, Chairman and the Chief Executive Officer of Virtusa Corporation speaks to Lakshaman Bandaranayake, Founding publisher of LBO on the recent acquisition of Polaris by Virtusa. Virtusa Corporation is a NASDAQ listed global information technology services company providing IT consulting, technology and outsourcing services to Fortune 500 companies.
Sri Lanka’s 2016 budget passed with a majority of 107 votes
Dec 02, 2015 (LBO) – Sri Lanka parliament on Wednesday passed the second reading of the Appropriation Bill for next year by a majority of 107 votes. The 2016 budget passed with 159 members of the parliament voting in favor and 52 opposing it and 13 absent. UNP and TNA voted in favor of the […]
Sri Lanka Treasuries yields fall
Dec 02, 2015 (LBO) – Sri Lanka’s 6-month Treasuries yields fell 10 basis points to 6.30 percent at Wednesday’s auction, data from the state debt office showed.The 12-month yield fell six basis points to 6.86 percent while the three-month yield was down 38 basis points to 6.06 percent. The debt office offered 6 billion worth […]
Sri Lanka stocks close down 0.5-pct: Institutional activity
Dec 02, 2015 (LBO) – Sri Lankan stocks closed down at 0.47 percent for the sixth straight day on Wednesday with losses in John Keells Holdings and some banking stocks, brokers said. The Colombo benchmark All Share Price Index closed down 32.40 points at 6,862.79 down 0.47 percent. S&P SL20 closed 13.54 points lower at 3,637.80 […]
” rating to LB Finance; outlook stable
Fitch Ratings has assigned LB Finance PLC (LB) a National Long-Term Rating at ‘A-(lka)’ with a Stable Outlook.KEY RATING DRIVERS – NATIONAL RATINGS LB’s National Long-Term Rating reflects its established franchise among licensed finance companies (LFC), whose higher yielding exposures have supported sound profitability. The rating also captures its relatively higher risk appetite as indicated […]
‘s Anantara Peace Haven Tangalle Resort to Welcome its First Guests
Colombo, 1 December 2015: Hemas Holdings in partnership with Minor Hotel Group is proud to announce the opening of the first Anantara resort in Sri Lanka, Anantara Peace Haven Tangalle Resort. In a uniquely secluded beachfront location along Sri Lanka’s southern coast, Anantara Peace Haven Tangalle Resort is inviting its very first guests to experience […]
Sri Lanka’s Prime Minister shows green light for port city after long haul back
Dec 02, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe today said the country plans to have a ‘unique financial and business district’ in Colombo when the sea reclamation project by a Chinese firm is resumed.“Hopefully if the Port City projects get underway, I think there will be some sort of landfill there that […]
‘s Malindo Air to commence low-cost flights to Colombo
Dec 02, 2015 (LBO) – Malaysian low-cost carrier Malindo Air plans to start services from Kuala Lumpur (Malaysia) to Colombo (Sri Lanka) and Ho Chi Minh City (Vietnam) in December. The carrier, a joint venture between Indonesian Lion Air and Malaysia’s National Aerospace and Defense Industries, will offer daily services using Boeing 737 aircraft and […]
Sri Lanka to consider IMF option next year: PM
Dec 02, 2015 (LBO) – Sri Lanka will consider a stand-by facility from the IMF next year, Prime Minister Ranil Wickremesinghe told parliament. “Next year will present a difficult economic environment. Sri Lanka could face an impact of the ISIS in the Middle East, in case the region is destabilized,” Wickremesinghe said “I think it […]