Author: lbostgadmin
PTL Watch: Short-term yields higher on foreign selling
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CA Sri Lanka to partner SAFA and World Bank to host regional seminar on public sector financial reporting
(PRESS RELEASE) -The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and its public sector wing, will host a high profile regional seminar in November, to help stimulate thinking on how South Asia can take financial reporting practices to the next level. Organised by the South Asian Federation of Accountants (SAFA), World Bank […]
Sri Lankan rupee weaker; moral suasion caps fall
Oct 27, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Thursday on importer demand for the U.S. currency with moral suasion by the central bank preventing a fall in both the spot currency and spot-next, dealers said. Rupee forwards were active, with the one-week trading at 148.15/30 per dollar at 0538 GMT compared […]
Low tax regime & capital allowances from 2017 budget: Sri Lankan PM
Oct 27, 2016 (LBO) – Sri Lanka’s 2017 budget proposals will include proposals to introduce a low tax regime in the island coupled with a program of capital allowances, the premier said. Prime Minister Ranil Wickremesinghe making a special statement in Parliament today said these new proposals aimed at increasing investment and job creation. “Finance […]
Fitch rates Bank of Ceylon subordinated debt AA(lka)(EXP)
Fitch Ratings has assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) proposed subordinated debentures of up to LKR8bn an expected National Long-Term Rating of ‘AA(lka)(EXP)’. The debentures, which are to have tenors of five and eight years and carry fixed and floating coupons, are to be listed on the Colombo Stock Exchange. BOC expects to use the […]
Sri Lanka cabinet approves capital market strategy 2016-2020
Oct 27, 2016 (LBO) – Sri Lanka’s cabinet has given the nod for the government to follow a five-year capital market strategy in order to attract investors, issuers, institutions and mediators, a statement said. “Although the capital market plays a major role in economic development and sustainable development in rising economies in the world Sri […]
‘s Green University opened in Homagama
Oct 27, 2016 (LBO) – The National School of Business Management’s (NSBM) Green University in Pitipana, Homagama was declared open by President Maithripala Sirisena on Wednesday. This is the first university in the South Asian region built to be sustainable and eco-friendly, according to the university. The NSBM Green University comprises auditoriums, computer laboratories, a […]
Sri Lanka’s Fin Min to release Rs4bn for Golden Key depositors
Oct 27, 2016 (LBO) –Sri Lanka’s cabinet has approved a proposal to release an advance of 4.05 billion rupees to the Central Bank in order to pay the eligible depositors of Golden Key Credit Card Company. According to the repayment plan for the security deposit holders of Golden Key approved by the Supreme Court, the […]
”’ rank down one notch to 110: World Bank
Oct 27, 2016 (LBO) – The World Bank says Sri Lanka has dropped one place in the “Doing Business ” rank to 110, over the past year, but the island has made progress in two reform areas: starting a business and protecting minority investors. “The improvements, while important, were not enough to stop a decline […]
GAAM: Net foreign inflow of Rs518 mln for week
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Sri Lanka to obtain USD75mn credit in SDR from World Bank
Oct 27, 2016 (LBO) – Sri Lanka is to obtain 75 million US dollars as credit of Special Drawing Rights (SDR) from the International Development Association of the World Bank for the Social Safety Nets project. The project which will be implemented from 2017 – 2022 has been designed to improve the equity, efficiency and […]
‘s Marxist JVP protest against VAT
The Marxist JVP today held a protest demonstration against the VAT amendment bill demanding the government to withdraw the Value Added Tax that burdens people. The party further charged that the allocation for education has been cut down while slashing the reliefs to people.