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Sri Lanka stocks close down 0.22-pct
May 21, 2015 (LBO) – Sri Lanka’s stocks closed down 0.22 percent with investors taking profits and losses in the food and beverage stocks, brokers said. The Colombo benchmark All Share Price Index closed 16.08 points lower at 7,273.69 down 0.22 percent. The S&P SL20 closed 10.55 points lower at 4,062.97 down 0.26 percent. Turnover […]
Udaya reviews progress of the CID investigations
Udaya Gammanpila on Wednesday (20) reviewed the progress of the investigation being carried out into an alleged attempt by former president Mahinda Rajapaksa to stage a coup to try to stay in power.
Swiss GSP facility is underutilized by Lankan exporters: Envoy
May 21, 2015 (LBO) – Sri Lankan exporters are currently underutilizing the Swiss GSP facility given to the country, a Swiss envoy said. Livia Leu, Ambassador Delegate of the Federal Council for Trade Agreements of Switzerland who visited the Ceylon Chamber of Commerce this week asked Sri Lankan exporters to take maximum use of their […]
”/Stable
Mar 21, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’ with a stable outlook. The full report is reproduced below :- KEY RATING DRIVERS The rating captures SDB’s high exposure to the retail and lower-end SME segments, its weak asset quality, and pressure […]
Huawei unveils new smart phone “Honor range” in Sri Lanka
May 21, 2015 (LBO) – Huawei Sri Lanka, unveiled three of its latest Honor range smartphones at a launch ceremony held in Colombo Wednesday.The launch saw mid-market smartphones, with features on par with high-end smartphones, namely, the Huawei Honor G Play, Honor 4X and Honor 6 Plus, being introduced to the local market.The launch of […]
Sri Lanka’s troubled Kalpitiya Beach Resort points finger at former regime
May 21, 2015 (LBO) – Sri Lanka’s Kalpitiya Beach Resort, a subsidiary of Citrus Leisure PLC, has said that the hotel project was held back due to former government incompetency to attract occupancy and build tourism infrastructure. In 2011, Kalpitiya Beach Resort has raised 283.5 million rupees from an initial public offering stating that the […]
‘s NDB to go ahead with Rs10bn debenture issue
May 21, 2015 (LBO) – Sri Lanka’s National Development Bank plans to sell up to 10 billion rupees of unsecured debentures, subject to regulatory approval, the Bank said in a stock exchange filling.The bank said it had upsized the issue from the previously decided 7.5 billion rupees of debt, with an option for a further […]
Sri Lanka to face challenges in debt financing through global capital markets: Razeen Sally
May 21, 2015 (LBO) – Sri Lanka capital markets will have to face a tough time ahead in debt financing through global capital markets, an economist said.Razeen Sally an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore speaking at the 62nd LBR LBO CEO forum held Wednesday pointed […]
Sri Lanka turns down no confidence motion against Governor and bribery head
May 21, 2015 (LBO) – Sri Lanka’s Speaker of the Parliament, Chamal Rajapakse Wednesday turned down the opposition request to pass no –confidence motion against Arjuna Mahendran, the governor of the Central bank and Dilrukshi Wickremasinghe, Director General of the Bribery Commission. “An existing committee should conduct the initial investigation and the findings, along with […]
Sri Lanka’s Parliament to be dissolved soon : President
May 20,2015 (LBO) – Sri Lanka’s President Maithreepala Sirisena said that parliament will be dissolved soon after the establishment of the constitutional council in the the country. The new parliament will be in place by September this year, President said while addresing the media Wednesday morning.