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Sri Lanka’s port city project temporarily suspended
March 04, 2015 (LBO) – Sri Lanka’s controversial Chinese funded Colombo port city project has been temporarily suspended due to pending of an investigative report on the issue, Island’s Investment Promotion Minister said today.Investment promotion minister Kabir Hashim told LBO that the project approval has been violated the country’s law.“For now it seems a breach […]
‘s Guardian Acuity Asset Management launches low risk gilt fund
Mar 04, 2015 (LBO) – Sri Lanka’s guardian Acuity Asset Management, a fund management firm launched a mutual fund invested in risk free government securities which will provide investors to enter and exit easily as a bank deposit, officials said. “It is purely invested in government securities and is therefore meant for investors who have […]
Port City
March 04, 2015 (LBO) – Sri Lanka’s controversial Chinese funded Colombo port city project has been temporarily suspended due to pending of an investigative report on the issue, Island’s Investment Promotion Minister said today.The government has appointed a cabinet sub committee headed by the Prime Minister to review the project owing to the allegations of […]
IMF urges Sri Lanka to consider contingency measures if revenue measures fail
Mar 04, 2015 (LBO) -The International Monetary Fund (IMF) urged Sri Lanka to have contingency measures in achieving the revised budget deficit target of 4.4 percent of gross domestic product if planned revenues fails, International Monetary Fund official said. “In the missions assessment, achieving a deficit of 4.4 percent of GDP will be challenging and […]
’’– off tax measures do not establish a step towards an effective tax system: IMF
Mar 04, 2015 (LBO) – Sri Lanka new government’s one –off tax, which proposed in interim budget 2015 to finance the budget has not established a step towards an effective tax system, an International Monetary Fund official said. The mission and the authorities agreed on the need for more comprehensive reforms to streamline the tax […]
Sri Lanka SLT to get a new CEO
Mar 03, 2015 (LBO) – Sri Lanka Telecom (SLT) Group, the holding company consisting of seven subsidiaries has appointed Dileepa Wijesundara as the Group Chief Executive with effect from 9th March 2015, following the resignation of the present Chief Executive, the company said in a filing to stock exchange. De Silva has resigned with effect […]
Sri Lanka Treasury bill yields up in March 03rd: Central Bank
Mar 03, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up on Tuesday’s auction with the 12-month yield increased to 6.99 percent from 6.13 percent in the last auction, data from the state debt office showed.6-month yield was also up at 6.98 percent and 1,230 million rupees were accepted from 9,190 million rupees.The debt […]
Sri Lanka’s CSE to increase stakeholder engagement through Social Media
Mar 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) today announced the launch of Facebook and LinkedIn Pages to ensure greater engagement with stakeholders through social media channels, in its endeavour to broad-base investment amongst the masses.“It is vital that investment is broad-based and retail investors both within and outside of Colombo have […]
Sri Lanka’s Hemas Holdings to expand its ownership and liquidity
Mar 03, 2015 (LBO) – Sri Lanka’s diversified conglomerate Hemas Holdings is to broad base its ownership and raise liquidity after major shareholders of the firm opt out a proposed rights issue.The company has been informed of the decision taken by the major shareholders to allow other investors to become shareholders or to increase their […]