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Sri Lanka Central Bank to keep rates steady ahead of budget
COLOMBO, Oct 27 (Reuters) – Sri Lanka’s central bank is expected to keep its key interest rates steady on Monday, a few days ahead of the national budget and the government’s five-year policy, analysts said. The central bank has already tightened its monetary policy stance three times since December, to fend off pressure on a […]
Piramal Glass Ceylon profits down 73-pct in H1 2017
Piramal Glass Ceylon PLC has successfully completed the 1st half of F2017 with its revenue crossing Rs.3 Bn mark & with a growth of 3% as against previous year H1. This was a remarkable performance as the company had to supply the market whilst its factory was non-operational for a period of 2 months for […]
PTL Watch: Short-term yields higher on foreign selling
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CA Sri Lanka to partner SAFA and World Bank to host regional seminar on public sector financial reporting
(PRESS RELEASE) -The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and its public sector wing, will host a high profile regional seminar in November, to help stimulate thinking on how South Asia can take financial reporting practices to the next level. Organised by the South Asian Federation of Accountants (SAFA), World Bank […]
Sri Lankan rupee weaker; moral suasion caps fall
Oct 27, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Thursday on importer demand for the U.S. currency with moral suasion by the central bank preventing a fall in both the spot currency and spot-next, dealers said. Rupee forwards were active, with the one-week trading at 148.15/30 per dollar at 0538 GMT compared […]
Low tax regime & capital allowances from 2017 budget: Sri Lankan PM
Oct 27, 2016 (LBO) – Sri Lanka’s 2017 budget proposals will include proposals to introduce a low tax regime in the island coupled with a program of capital allowances, the premier said. Prime Minister Ranil Wickremesinghe making a special statement in Parliament today said these new proposals aimed at increasing investment and job creation. “Finance […]
Fitch rates Bank of Ceylon subordinated debt AA(lka)(EXP)
Fitch Ratings has assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) proposed subordinated debentures of up to LKR8bn an expected National Long-Term Rating of ‘AA(lka)(EXP)’. The debentures, which are to have tenors of five and eight years and carry fixed and floating coupons, are to be listed on the Colombo Stock Exchange. BOC expects to use the […]
Sri Lanka cabinet approves capital market strategy 2016-2020
Oct 27, 2016 (LBO) – Sri Lanka’s cabinet has given the nod for the government to follow a five-year capital market strategy in order to attract investors, issuers, institutions and mediators, a statement said. “Although the capital market plays a major role in economic development and sustainable development in rising economies in the world Sri […]
‘s Green University opened in Homagama
Oct 27, 2016 (LBO) – The National School of Business Management’s (NSBM) Green University in Pitipana, Homagama was declared open by President Maithripala Sirisena on Wednesday. This is the first university in the South Asian region built to be sustainable and eco-friendly, according to the university. The NSBM Green University comprises auditoriums, computer laboratories, a […]