Author: lbostgadmin
Sri Lanka’s Tourism Festival to dazzle Colombo
With the festive season just around the corner elaborate plans are being made to transform the city of Colombo in to a Tourism Wonderland from the 20th to the 23rd of December this year. Sri Lanka Tourism under the guidance of the Ministry of Tourism Development and Christian Religious Affairs is planning the second edition […]
Sri Lanka nation-wide inflation accelerates to 5-pct in October
Nov 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose to 5.0 percent in October from the 4.7 percent reported a month ago, data from the state statistics office showed. The National Consumer Price Index (NCPI) for the month of October 2016 has been calculated as 114.7. In […]
Huawei GR5 2017 launched in Sri Lanka – first in region
Huawei, the fastest growing smartphone brand in Sri Lanka, together with Singer Sri Lanka, launched the all new Huawei GR5 2017 at a ceremonious unveiling at the Singer Lifestyle Festival in Colombo. The launch event was graced by Huawei Sri Lanka CEO Shunli Wang, Huawei Device Sri Lanka General Manager Kalpa Perera, Singer Sri Lanka […]
Sri Lankan rupee falls; IMF loan caps losses
Nov 21, 2016 (Reuters) – The Sri Lankan rupee was trading slightly weaker on Monday on worries capital outflows would increase as incoming U.S. President Donald Trump’s policies were seen guiding U.S. interest rates higher and strengthening the dollar. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest […]
Fitch rates National Insurance Trust Fund AA-(lka) Stable
Fitch Ratings has assigned Sri Lanka-based National Insurance Trust Fund Board (NITF) a National Insurer Financial Strength Rating (IFS) and National Long Term Rating of ‘AA-(lka)’. The Outlook is Stable. NITF’s ratings reflect strong ties with the government of Sri Lanka (B+/Negative), a strong business profile as the only reinsurer in the country, high capitalisation […]
Seylan Bank adds Factoring to portfolio of services
Nov 21, 2016 (LBO) – Seylan Bank says it has added Factoring to its portfolio of services offering a wider choice of working capital financing options. This service is available for any type of business ranging from SMEs, corporate as well as start-ups, the bank said in a statement. Factoring allows generating cash flow without […]
ADB to support infrastructure reforms, revenue is key challenge
Nov 21, 2016 (LBO) – Further structural reforms are needed to strengthen the Sri Lankan economy, which has been slow to attract private investment and is encumbered by burdensome business regulations, a new Asian Development Bank study shows. The ADB, releasing an independent evaluation report that assesses its 5.5 billion US dollar program for Sri Lanka […]
Asian shares on the defensive as U.S. yields, dollar rise
TOKYO, Nov 21 (Reuters) – Asian shares were on the defensive on Monday, undermined by fears that the strength in the U.S. dollar and rising U.S. bond yields since Donald Trump’s election to president could accelerate fund outflows from emerging markets. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 percent, staying near […]
‘s Finance Minister
Nov 21, 2016 (LBO) – The Minister of Finance has called on local and foreign entrepreneurs to seize the opportunity given by the government to invest in Sri Lanka, with incentives presented under the 2017 Budget. The Minister assured that all proposals would be implemented on time and some of the proposals have already come […]
