Author: lbostgadmin
Lion Brewery (Ceylon) resumes Biyagama factory operations
Boards of Lion Brewery (Ceylon) and Ceylon Beverage Holdings today said that the Lion Brewery (Ceylon) PLC’s factory situated at Biyagama which was affected by recent floods has now recommenced its production and its full portfolio of brands will be available in the market shortly.
CSE to conduct planned failover to Disaster Recovery site during trading
The Colombo Stock Exchange (CSE) will be conducting a planned failover to the Disaster Recovery site during trading hours using Version 7 of the Automated Trading System (ATS) Disaster Recovery Solution on Friday 25th November 2016. The exercise will be an industry‐wide activity as part of the Business Continuity Plan (BCP) of the CSE with […]
Sri Lanka’s government seeks public views to regulate news
Nov 23, 2016 (LBO) – Sri Lanka’s cabinet nod has been received to obtain public opinion with regard to establishing an independent board to regulate news content published in media. As per the proposal, an independent board is to regulate news published in print, broadcasting and registered websites with the view of promoting professionalism and […]
Western Province interconnected roads to be upgraded
Nov 23, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to improve 26 damaged interconnected roads in the Western Province. The project will cover a total length of 30 km in Colombo, Moratuwa, Mahara and Avissawella areas by laying carpet at an estimated cost of 208.5 million rupees through the Provincial Road Development […]
‘s SEC to adopt new capital adequacy from March
Nov 23, 2016 (LBO) – Sri Lanka’s Securities and Exchange Commission on the recommendation of the CSE has directed the implementation of a new risk-based Capital Adequacy Requirement (CAR). The commission said the new requirement will be 1.2 times the risk requirement of stockbrokers subject to a minimum liquid capital requirement of 35 million rupees. […]
Sri Lankan rupee edges down on importer dollar demand; stocks up
Nov 23, 2016 (Reuters) – The Sri Lankan rupee fell slightly on Wednesday due to dollar demand from importers on fears that U.S. President-elect Donald Trump’s policies would lead to a rise in rates and the greenback. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
Exporters say suspension of SVAT disincentive to exports
The EASL, whilst understanding the current state of the economy, find this budget is more of a corrective nature. It does not address the need to progress the export industry. Aspect such as improving standards of education, encouraging the growth of competitiveness of SMEs, aiming to attract FDIs and setting up a system under PPP […]
Sri Lanka’s Dialog Axiata forms subsidiary for BPO services
Nov 23, 2016 (LBO) – Sri Lanka’s Dialog Axiata has formed a wholly owned subsidiary for the purpose of providing Business Process Outsourcing (BPO) services including Call Centre services. Dialog Axiata said in a stock exchange filing that the new company has been formed under the name of Dialog Business Services (Private) Limited (DBS) on […]
Sri Lanka poised for a shopping spree, basic goods drive demand
Nov 23, 2016 (LBO) – Sri Lankans still demand basic products such as refrigerators and washing machines due to the country’s low penetration levels although income levels of consumers have improved significantly, an official from the consumer durables industry said. “The consumer durables industry is primarily driven by growth in disposable income, but while income levels have improved, […]
SL-China trade crosses USD4bn, 93-pct imports from China
Nov 23, 2016 (LBO) – Bilateral trade between Sri Lanka and China has crossed the 4 billion US dollar threshold for the first time last year, the industry and commerce minister revealed. The total trade turnover between Sri Lanka and China which was at 659 million US dollars in 2005, has surged to 4 billion […]
Korea Eximbank to establish two vocational training institutes
Nov 23, 2016 (LBO) – The Export-Import Bank of Korea (Korea Eximbank) will support establishing two vocational training institutes in Sri Lanka, namely, Vocational Training Centre in Colombo Central and College of Technology in Gampaha. “As Sri Lanka aspires to become an upper middle-income country, it will need to bridge the gap between the industry […]