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Sri Lanka’s President assures support and freedom for private sector to engage in businesses
Aug 06, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena assured fullest support for private sector businesses to operate freely while government would build strong relations with other countries which would help trade and investment.“The government and private sector should share a bond, friendliness, trust and transparency to develop the economy.I believe the government should […]
‘s Fitch Affirms Ceylon Dollar Bond Fund at BB-/V-5
Aug 05, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ with a Fund Volatility Rating of ‘V-5’. The full text of the announcement is reproduced below. Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-‘/’V-5’ Fitch Ratings-London/Colombo-05 August 2015: Fitch Ratings has affirmed Ceylon Dollar Bond […]
Commercial Bank launches low cost insurance for micro borrowers
(News Release) – A low cost insurance scheme that will protect micro borrowers has been launched by Commercial Bank of Ceylon in association with two insurance companies, Ceylinco Insurance and BIMA. The policy will cover the borrowers against accidental death or permanent disability, compensate for loss of income due to hospitalisation and also contribute towards funeral […]
Sri Lanka stocks close up 0.8 -pct: Six-month high
Aug 05, 2015 (LBO) – Sri Lanka’s stocks closed up 0.77 percent on Wednesday, with the market picking up after losses yesterday and positive investor sentiment due the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 56.26 points higher at 7,366.31 up 0.77 percent. The S&P SL20 closed 10.39 points […]
Sri Lanka’s six and twelve months Treasury bill yields up
Aug 05, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with the 6-month yield up 07 basis points to close at 6.50 percent, data from the state debt office showed. 12-month yield was up 06 basis points to close at 6.54 percent. The debt office of the Central Bank has […]
Vidullanka to develop 6.5MW power plant in Uganda
Aug 05, 2015 (LBO) – Sri Lankan private power producer Vidullanka, through its subsidiary Muvumbe Hydro, has entered into an agreement with the government of Uganda to develop a power plant in Uganda. The power plant with a capacity of 6.5MW will start selling power to the government for a period of 20 years upon […]
China tops tourist arrivals to Sri Lanka in July
Aug 05, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 31 percent from a year earlier to 175,804 in July 2015 with China becoming the top generating market, data from the state tourism promotion office showed. Chinese arrivals rose 65.5 perecnt to 25,120 from a year earlier, while the total in the seven months to […]
Sri Lanka’s PM says more to investigate on CB bond scam, a select committee to be appointed
Aug 05, 2015 (LBO) –Sri Lanka’s Prime Minister Ranil Wickremesinghe said the government has done every possible investigation on the alleged bond scam, but will further investigate through appointing a parliamentary select committee and submit a report to the parliament after the election.“What good governance means is that if there is an allegation you will […]
Sri Lanka’s Urban Development Authority profits fell 85-pct in March quarter
Aug 05, 2015 (LBO) – Sri Lanka’s Urban Development Authority group profits fell 85 percent to 199 million rupees in the March 2015 quarter from a year earlier, with revenues down 80 percent to 709 million rupees, the interim accounts showed. Finance cost fell 98 percent to 4 million rupees compared to the 329 million […]
Asian shares continue to fall on fears of US interest rate rise
Aug 05, 2015 (LBO) – Asian shares dipped on Wednesday as investors saw signs of US interest rate rise as early as next month, foreign media reports said.The shift to higher rates in the US has been resulted in the withdrawal of funds from emerging markets, putting pressure on their currencies.The dollar rose against the […]