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Insufficient road capacity, reason behind car import restrictions: PM
Oct 19, 2015 (LBO) – Sri Lanka’s recent restrictions imposed on car imports were a response to the insufficient capacity of roads, Prime Minister Ranil Wickremesinghe said.In an interview with Singapore’s ‘Straits Times’, Wickremesinghe said currently it takes too long coming into Colombo. “The restrictions on car imports put in place recently were because police […]
CSE to promote Sri Lanka with Zurich, London roadshows this month
Oct 19, 2015 (LBO) – The Colombo Stock Exchange will promote the Sri Lankan market with two roadshows in Zurich and London this month. A breakfast meeting in Zurich on October 28 and an investor forum in London on October 29-30 will have representatives of Sri Lankan brokerages and the financial sector with the attendance […]
China slowdown, foreign funding risks intensify for APAC economies: Fitch
Oct 19, 2015 (LBO) – Macroeconomic risks to the Asia-Pacific (APAC) region have intensified with Fed tightening cycle and a protracted China slowdown, Fitch ratings said in a statement. “A sharper-than-expected slowdown in China’s economy is likely to have broad-based negative implications for global and regional issuers,” the latest edition of Fitch Ratings APAC Risk Radar […]
Infrastructure: Megapolis needs to overcome several challenges, says Champika
Oct 19 2015, (LBO) – The Minister for Megapolis Champika Ranawaka says that if the Megapolis mega development project is to be successful then it must address several social, environmental and economic obstacles that lie ahead. “One is the social problem where we have over 100,000 slum dwellers in the Western Province,” he said speaking […]
GAAM crosses Rs5 bn mark in assets under management
Guardian Acuity Asset Management Ltd, which manages three unit trusts, passed an important milestone in its short history when it crossed the Rs 5 billion mark in assets under management (AUM) in early October this year. The firm which was recognised as the “Best new asset management company in Sri Lanka 2014” by the prestigious […]
Avant Garde issues statement on its red sea floating armory
Oct 17, 2015 (LBO) – Avant Garde Maritime Services Ltd has issued a statement to the media on its floating armory which was the subject of a magisterial inquiry. In September, a magisterial inquiry into a floating armory of Avant Garde Maritime Services ended after the Criminal Investigation Department said it would not proceed with […]
Spanish tourists celebrate National Day with Aitken Spence Travels
Aitken Spence Travels celebrated the Spanish National day on the 12th October with Spanish tourists traveling during the same period. A group on an adventure tour and another group on a round-trip culture tour were hosted by Aitken Spence Travels for cocktails, anniversary cakes and specially organized calypso bands for entertainment on the national day […]
Q&A: CHEC speaks to LBO on Port City project
Oct 16, 2015 (LBO) – Sri Lanka’s much talked port city project is still under water as the new administration has questioned project approvals. The builders of Sri Lanka’s Chinese-funded port city project say discussions are ongoing and they await a positive reply from the government after the suspension of work. Sri Lanka’s cabinet last […]
Poll: Central Bank expected to hold interest rates unchanged
Oct 16, 2015 (LBO) – Sri Lanka’s Central Bank is expected to hold interest rates unchanged at the monthly monetary policy announcement on Tuesday, market participants told Lanka Business Online. A poll of 13 market participants showed 12 expected no change in policy interest rates, while one expected a 25 to 50 basis point hike […]