Author: lbostgadmin
Asset Mix
June 12, 2013 (LBO) – Sri Lanka’s licensed finance companies (LFC), which play in the sub-prime market has cut exposure to property and stocks, though they are facing an uptick in non-performing loans amidst a downturn, a rating report said.Investments in land and property had fallen to 1.86 percent of assets in the 9 months […]
Sri Lanka short term Treasuries ease
June 12, 2013 (LBO) – Sri Lanka’s short term Treasuries yields eased at Wednesday’s with the 3-month yield falling 03 basis points to 8.67 percent, the state debt office said. The 6-month yield fell 01 basis point to 9.80 percent and the 12-month yield was flat at 10.85 percent. The state debt office said 943 […]
Sri Lanka relaxes foreign exchange controls
June 12, 2013 (LBO) – Sri Lanka has relaxed controls on foreign exchange for travel, migration, sale of residential property by non-residents and maintaining foreign exchange accounts.“During the past few years, Sri Lanka’s macroeconomic fundamentals have improved and the domestic financial sector has become stronger and more resilient,” the Central Bank said in a statement. […]
Sri Lanka state workers take home 56-pct of tax revenues in 2012
June 11, 2013 (LBO) – Sri Lanka’s state workers and pensioners have taken 56 cents out of every tax rupee collected from the people in 2012, not counting tax slashed car permits, official data shows. An analysis by the finance ministry shows that in 1.79 public sector workers took home 348 billion rupees in salaries […]
Sri Lanka export agency under Nestlé executive
June 11, 2013 (LBO) – A senior executive of Nestlé, a Swiss-based food group company has been appointed chairman of Sri Lanka’s state export promotion agency, the ministry of commerce said.Bandula Egodage, vice president, corporate affairs at Nestlé Lanka Plc has was formally made chairman at a ceremony at Export Development Board’s office in Colombo […]
Big Brother
HONG KONG, June 11, 2013 (AFP) – Whistleblower Edward Snowden was acclaimed Tuesday by WikiLeaks founder Julian Assange as a “hero” defending personal liberty, but US lawmakers clamoured for the NSA contractor’s immediate expulsion from his Hong Kong hideout to face justice at home.Snowden, a 29-year-old technology expert working for a private firm subcontracted to […]
Education Direction
June 11, 2013 (LBO) – Sri Lanka’s state education system is in the process of changing its structure from an exam centric one to a more interactive learning system, the island’s education minister said.“There should be a structural change in the education system to help with the employment requirements of the country,” minister Bandula Gunawardena […]
Sri Lankan applicants on fast track for UK visa
June 11, 2013 (LBO) – Applicants from Sri Lanka who had recently travelled to some North American, European and Pacific countries could apply for a fast track visa, the UK High Commission (embassy) in Colombo said. From June 24, Sri Lankans who had travelled “without difficulty” to the USA, Canada, UK, Australia, New Zealand or […]
Sri Lanka stocks close down 0.5-pct
June 11, 2013 (LBO) – Sri Lanka’s stocks closed down 0.59 percent on Tuesday, following a sudden rise in the market the day earlier. The market was down due to investors taking profit and losses in the heavy index stocks CTC, LLUB and SLT, brokers said. Softlogic Holding closed at 10.90 rupees down 10 cents […]
Sri Lanka rupee weakens below 127 to dollar
June 11, 2013 (LBO) – Sri Lanka’s rupee weakened below 127 to the US dollar in the spot market in mid morning trade Tuesday, amid excess liquidity, dealers said.Sri Lanka has a loose peg with the US dollar and has tended to intervene when the exchange rate weakens below 127.00. Many Asian currencies which operate […]
Sri Lanka, finance, beer bonds oversubscribed
June 11, 2013 (LBO) – An offer to sell 5.0 billion rupees worth bonds in Lion Brewery (Ceylon) Plc and Central Finance has been oversubscribed on opening Tuesday, registrars to the sales said. High net worth investors and banks have been piling into the listed debentures, which have been made tax free. Small investors have […]
Cricket: Two Sri Lankans pulled up for excessive appealing
CARDIFF, June 9, 2013 (AFP) – Former Sri Lankan captains Mahela Jayawardene and Tillakaratne Dilshan have been reprimanded for appealing excessively during Sunday’s tense Champions Trophy clash against New Zealand.The charges against Jayawardene and Dilshan were laid by on-field umpires Bruce Oxenford and Rod Tucker, and television umpire Ian Gould. An official reprimand is the […]