Author: Ashanthi Ratnasingham
Colombo Fashion Week to push resort wear as a high growth industry
Sep 24, 2015 (LBO) – Sri Lanka’s Colombo Fashion Week is pushing resort wear as a high growth industry in the region while enabling the island’s designers to tap into the growing demand for the industry. “Once a category that was focused on exclusively for the holiday season, resort wear has in the last decade […]
Sierra Cables to set up manufacturing plant in Kenya
Sep 22, 2015 (LBO) – Sri Lanka’s Sierra Cables, a listed power cable maker, said it will be setting up a manufacturing plant in Kenya to supply transmission and distribution cables to East African countries, a statement said. The company said in a stock exchange filing that the decision was reached after conducting a feasibility […]
Sri Lanka’s Dialog increases stake in wow.lk
Sep 16, 2015 (LBO) – Sri Lanka’s Dialog Axiata has increased its stake from 46 percent to one hundred percent in e-commerce website, wow.lk, brokers said. “Dialog Axiata have increased its shareholding in Digital Commerce Lanka (Pvt) Ltd from 46 percent to 100 percent, through its subsidiary, Digital Holdings Lanka (Pvt) Ltd.,” Lanka Securities said. […]
Youth unemployment can be addressed through technical training: Susil
Sep 10, 2015 (LBO) – Sri Lanka can overcome its youth unemployment issue by developing technical education, the newly appointed minister for technology says.“Although unemployment as a whole is six percent, in the age group between 18 – 30 it is over 20 percent,” Susil Premajayantha, the new minister of technology, technical education and employment […]
Reforms needed for better Sri Lanka female labor force participation: World Bank
Sep 10, 2015 (LBO) – Legal discrimination, which can affect female labor force participation, is prevalent in Sri Lanka, a new World Bank report says. “Women are prohibited from working in the mining sector and restricted from certain tasks/functions in factories,” the World Banks group’s Women, Business and the Law 2016 report, released Wednesday said. “Moreover, there […]
Sri Lanka’s capital skyline changes with rise in luxury apartment market: report
Sep 06, 2015 (LBO) – The skyline of Sri Lanka’s capital is growing in terms of the number of luxury apartment units with the market expected to reach 6,000 units by 2018-19, from 2,657 units at the moment, a research report shows. “Apartment complexes have had a strong hand in shaping the skyline of Colombo.Starting […]
Sri Lanka gearing up for period of continuous growth: Softlogic Stockbrokers
Sep 03, 2015 (LBO) – Sri Lanka is heading into a decisive phase and we expect continuous growth in the island for the next few years through consistent government policy, a senior stockbroker said.“I think this is a critical phase for the country and we are looking at a new horizon,” Dihan Dedigama, Chief Executive […]
Sri Lanka stocks close down 0.6-pct
Aug 20, 2015 (LBO) – Sri Lankan stocks closed down Thursday with volatility returning to the market as it lost steam amid on-going discussions among the two major political parties to form a national government, brokers said. The Colombo benchmark All Share Price Index closed down 48.96 points at 7,449.82 down 0.65 percent. The S&P […]
‘s new government needs to have clarity in economic policy: Fitch
Aug 19, 2015 (LBO) – Sri Lanka’s newly elected govenment should pay close attenttion to greater clarity on economic policy as the change in January had only concentraded on good governance and other reforms, Fitch Rating said. “Improved economic policy credibility and coherence would strengthen Sri Lanka’s resilience to growing investor uncertainty towards emerging Asia,” […]
Sri Lanka’s construction industry lacks proper policy: official
Aug 19, 2015 (LBO) – Sri Lanka’s construction industry policy changes when governments change and this is a major concern facing the industry, a senior official said.“With changes of government we have found that projects awarded during the previous regime are suspended and the new government reviews all the projects,” Surath Wickramasinghe, President of the […]
‘s ruling UNP wins parliamentary election, eyes national government
Aug 18, 2015 (LBO) – Results of Sri Lanka’s parliamentary election shows the United National Party won enough seats to be the single-largest party in the 225-seat legislature.All eyes are now on how the party aims to move forward to secure a majority and fulfill its pledge to form a national government. The United National […]
”’ rating confirmed: S&P rating
Aug 07, 2015 (LBO) – Standard & Poor’s ratings has confirmed Sri Lanka’s ‘B+’ rating with a stable outlook, a statement said. “Foreign reserves will grow, external debt will fall in the next three years as risks associated with the country’s moderately weak external settings are mitigated by growing reserve buffers that improve Sri Lanka’s […]