Author: LBO Admin
Pakistan Naval Chief to visit Sri Lanka
Jan 24, 2020 (LBO) – Pakistan’s Chief of Naval Staff, Admiral Zafar Mahmood Abbasi NI (M) is scheduled to visit Sri Lanka on the invitation of SL Navy commander, Vice Admiral Piyal De Silva from January 25-29, 2020. During his stay in Sri Lanka, Naval Chief will meet Commanders of the Navy, Army, Air force […]
”; Outlook negative
Jan 24, 2020 (LBO) – Fitch Ratings has affirmed Sir Lanka Telecom PLC’s (SLT) National Long-Term Rating at ‘AA+(Ika)’. The outlook is negative, the rating agency said in a statement. We have also affirmed the National Ratings on SLT’s outstanding senior unsecured debentures at ‘AA+(lka)’. The Negative Outlook on SLT’s rating reflects the Outlook on […]
SriLankan Airlines takes action with regard to Coronavirus outbreak
Jan 24, 2020 (LBO) – SriLankan Airlines has implemented a series of precautionary measures to mitigate the risks from the current coronavirus epidemic in the Far East. The airline said in a statement that their cabin crew and other relevant staff have been briefed on actions to be taken on board and at airports, especially […]
Forensic audit finds Rs20bn loss to Sri Lanka from bond sales from 2005 to 2016
Jan 24, 2020 (LBO) – Sri Lanka may have lost 20 billion rupees from direct placements as well as from auctions of bonds, between 2005 and March 2016, a forensic audit has estimated. BDO India has carried out two separate forensic audits for the period of 01 Jan 2002 to 28 Feb 2015 and from […]
First Capital Treasuries announces Rs750mn debenture issue
Jan 23, 2020 (LBO) – First Capital Treasuries, the Primary Dealer arm and a subsidiary of First Capital Holdings has announced that it intends to issue listed, rated, subordinated, unsecured, redeemable debentures with a principal value of LKR 750Mn maturing in five years. Following interest payment options will be payable semi-annually; Type A – 12.75% […]
VIDEO: Is capitalism dying?
Capitalism has been embraced in the West for generations, transforming how societies worked and lived in the process. However its time may be running out, as business and political leaders alike question its relevance in the world we live in today.CNBC’s Timothyna Duncan explains from the World Economic Forum’s annual meeting in Davos, Switzerland.
Viraj Dayaratne assumes duties as SEC Chairman
Dayaratne PC, had his education at the S. Thomas’ Preparatory School, Kollupitiya and at S. Thomas’ College, Mount Lavinia.He entered the Sri Lanka Law College in 1989 and was enrolled as an Attorney-at-Law of the Supreme Court of Sri Lanka in November 1992. Mr. Dayaratne PC, is also a graduate from the University of Colombo […]
Sri Lanka SMEs call for deadline extension
Jan 22, 2020 (LBO) – Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) said that the landmark loan moratorium for SMEs offered by the government in December 2019 is on track to revive SMEs but the stipulated reporting deadline is ‘too tight’. “We praise the government for its determined action last December to […]
Fitch revises outlook on 5 banks to negative; downgrades PLC; affirms HNB
Jan 22, 2020 (LBO) – Fitch Ratings has revised the Outlook to Negative from Stable on the Long-Term Issuer Default Ratings (IDR) and National Long-Term Ratings of the following Sri Lanka-based banks and has affirmed their ratings: Bank of Ceylon (BOC), National Savings Bank (NSB) and DFCC Bank PLC (DFCC) Fitch has also revised the […]
VIDEO: What is Cloud Computing
Cloud computing is the on-demand delivery of IT resources such as compute, databases, and storage via the Internet with pay-as-you-go pricing. Instead of buying, owning, and maintaining physical data centers and servers, you can access a wide range of technology services on an as-needed basis from a cloud provider. Organizations of every type, size, and […]
Sri Lanka democracy index slightly improved in 2019
Jan 22, 2020 (LBO) – Sri Lanka’s democracy as measured by the Economist Intelligence Unit’s Democracy Index has been slightly improved to 6.27 (overall score on a 0-10 scale) in 2019 against 6.19 reported in the previous year. According to their latest report, Sri Lanka’s global rank is 69 with a regional rank of 13 […]
Tax changes included in proposed Inland Revenue Amendment Bill
Jan 22, 2020 (LBO) – Sri Lanka’s Finance Ministry announced the list of tax changes introduced in the proposed Inland Revenue Amendment Bill which is to be presented to Parliament for approval. Related: Cabinet nod to amend Inland Revenue Act The complete list of proposed tax amendments: (i). Interest Income (a) Interest paid up to […]