Author: lbostgadmin
Gammanpila’s secret may delay Sri Lanka’s VAT hike again
Oct 12, 2016 (LBO) – Sri Lanka’s joint opposition Parliamentarian Udaya Gammanpila says he is aware of a reason that will require the government to present the much delayed VAT bill to Parliament once again. Gammanpila told reporters yesterday that he will reveal the secret when the Supreme Court considers his petition filed against the proposed VAT […]
Asian Alliance changes name to Softlogic Life Insurance
Oct 11, 2016 (LBO) – Shareholders of Asian Alliance Insurance today approved a special resolution to change its name into Softlogic Life Insurance, the company said in a stock exchange filing. The move comes after Asian Alliance Insurance sold its stake in Asian Alliance General Insurance business. On 24th June 2016, the company agreed to […]
Philippines visa waiver to benefit Sri Lankan diplomats & officials
Oct 11, 2016 (LBO) – Sri Lanka and the Philippines have entered into a visa waiver agreement for diplomatic and official passport holders, a statement said. The Agreement facilitates holders of diplomatic and official passports of the two countries to enter and stay in the territory of either country up to thirty days without having […]
Sri Lankan rupee edges up on dollar selling by exporters
Oct 11, 2016 (Reuters) – The Sri Lankan rupee edged up on Tuesday, recovering after three straight sessions of losses on dollar selling by exporters, with moral suasion by the central bank preventing the currency from falling, dealers said. The rupee is, however, expected to face pressure due to demand for dollars by importers ahead […]
Colombo transformation lacks basic affordable housing: Lamudi
Since the declaration of peace in Sri Lanka in 2009, real estate on the island has experienced a rapid revival. This revival has turned into a boom, and as a consequence, property prices on the island have soared. In rapidly developing countries, a property boom often makes affordable housing hard to find. However, initiatives to […]
Inclusive capitalism requires not just promises but action: IMF Head
Oct 11, 2016 (LBO) – The Head of the International Monetary Fund (IMF) says to pull the world economy out of the “new mediocre” efforts to lift growth and support inclusion are critical and complementary priorities. “Alongside stronger policies, the role of business is key. Enterprise not only benefits from greater inclusion, but is uniquely […]
37th National Conference of Chartered Accountants to steer entrepreneurship
In helping Sri Lanka transition towards an innovation driven economy, a highly eminent panel of local and foreign speakers, including entrepreneurs of global repute will steer this month’s 37th National Conference of Chartered Accountants organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). Over two days of technical sessions, the conference […]
Japan provides Rs 46bn for ongoing development in Sri Lanka
Oct 11, 2016 (LBO) – The Japan International Cooperation Agency (JICA) will provide a loan of 46.6 billion rupees to Sri Lanka to maintain financial stability and continue the development agenda within the next five years. Yen 10,000 million out of the total loan has been provided as development policy loans, Sri Lanka’s Finance Ministry […]
Sri Lanka’s Kotagala Plantations sells stake in Lankem Dev
Oct 11, 2016 (LBO) – Sri Lanka’s Kotagala Plantations has disposed its entire stake in Lankem Developments through the Colombo Stock Exchange at current market prices. The company said in a stock exchange filing that they sold their an equity stake of 10.04 percent in Lankem Developments represented by 6,026,500 shares. Lankem Developments today closed […]
Asian shares mixed, oil jumps on output curb expectations
SINGAPORE, Oct 11 (Reuters) – Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton’s widening lead in the U.S. presidential election campaign pushed Wall Street higher. Brent crude rose to as high as $53.73 on Monday, the highest level since Oct. […]