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IDU Chair Former Canadian PM Stephen Harper demands Sri Lanka parliament be opened
October 31, 2018 (LBO) “We are witnessing the breakdown of democracy in Sri Lanka” The International Democrat Union is following the latest developments in Sri Lanka with grave concern. On Friday, October 26, 2018, Sri Lankan President Sirisena removed Prime Minister Wickremesinghe from his position.This move has been widely denounced as unconstitutional. The IDU stands […]
S R Attygalle assumes duties as new Secretary to Finance Ministry
Oct 31, 2018 (LBO) – Deputy Secretary to Treasury S R Attygalle who has been appointed as the Secretary to Ministry of Finance and Economic Affairs and the Secretary to Treasury by President Maithripala Sirisena assumed duties in his new post at the Ministry of Finance, Wednesday afternoon. Attygalle who is from the Central Bank […]
Bond vigilantes come to town as Sri Lanka sovereign debt tanks
October 31, 2018 (LBO) – To be updated
The army will not get involved in the constitutional crisis – AFP report
October 31, 2018 (LBO) – Sri Lanka’s army commander Mahesh Senanayake has told AFP the armed forces expected politicians to “constitutionally and legally” end the dispute.“The army will not get involved,” he said, responding to questions on the role of the military as the constitutional crisis, which is now on day 6, continues.“The police are responsible […]
Attorney General side steps Constitutional Crisis
October 13, 2018 (LBO) –
International community continues to recognise Ranil as legitimate PM – Sir Hugo Swire
October 31, 2018 (LBO) – Foreign Secretary of the United Kingdom Jeremy Hunt has indicated that he will speak to President Maithripala Sirisena and communicate to him that the international community continues to recognise Ranil Wickremesinghe as the legitimate Prime Minister of Sri Lanka. He will also request that Parliament be recalled as a matter […]
Central Bank releases publication with highlights of 2018 & prospects for 2019
Oct 30, 2018 (LBO) – Central Bank of Sri Lanka today released its half-yearly publication – “Recent Economic Developments: Highlights of 2018 and Prospects for 2019”. A summary of the performance of the Sri Lankan economy in 2018 as reflected in this publication is given below: [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2018/10/Press-Release-E.pdf” title=”Press Release (E)”]
Piramal Glass top line grew by 14-pct during half year ended Sept 2018
Piramal Glass Ceylon PLC has reported its results for the 1st half of the year FY 2018-19 with Rs. 3,586 million of Revenue and Rs. 38 million of Profit After Tax as against the similar period of the previous year which was Rs.3,082 million and PAT of Rs. 154 million. At half year the Company’s […]
‘s political standoff lifts refinancing risk: Fitch Ratings
Oct 30, 2018 (LBO) – Sri Lankan president’s sudden replacement of the prime minister on 26 October highlights tensions within the coalition government and creates uncertainty over further progress on reform and fiscal consolidation, says Fitch Ratings. Prolonged political upheaval accompanied by deterioration of policy continuity could undermine investor confidence and make it more challenging […]
John Keells (JKH) stock flying – approaching 150/share as foreigners selling
October 30, 2018 (LBO) – Shares in Colombo Stock Exchange (CSE) bellwether John Keells Holdings (JKH) are soaring with the stock approaching Rs150/share after recently hitting multi-year lows. The stock has had a strong near 20% bounce off the lows.Volume is light so far today even as the stock is up 4%.Yesterday there was heavy […]