Author: lbostgadmin
Sri Lankan rupee edges up as tight liquidity prompts dollar sales
Sept 30, 2016 (Reuters) – The Sri Lankan rupee traded slightly firmer on Friday, after four straight sessions of losses, as tight rupee liquidity triggered dollar sales by some banks, dealers said. The spot rupee was at 146.75/90 per dollar at 0556 GMT, compared with Thursday’s close of 146.90/147.00. The rupee has fallen 0.58 percent […]
Sri Lanka Tourism celebrates World Tourism Day
Sri Lanka Tourism celebrated World Tourism Day on September 27th, 2016 focusing on the UNWTO’s theme for this year, “Tourism for all – Promoting Universal Accessibility.” The official celebration was held at the auditorium of the Sri Lanka Institute of Tourism and Hotel Management with the participation of all tourism industry stake holders. The day’s […]
Real estate sector, preferred investment avenue for Sri Lankans: Survey
A recent survey conducted by LankaPropertyWeb and the Real-estate Intelligence Unit (RIU) indicates that the majority of Sri Lankans prefer to invest in Real Estate, as opposed to the stock market or bank savings. In one of the most detailed ground surveys carried out about the Sri Lankan Real Estate Sector, 44.1% of respondents said […]
Sri Lanka adds more taxes for smokers
Sep 30, 2016 (LBO) – Sri Lanka’s Cabinet has approved a 15 percent Value Added Tax (VAT) and 5.00 rupees production tax on cigarettes as well as an increase of cess on the import of “beedi” leaves, a statement said. “Cabinet has decided to impose 15 percent VAT on cigarettes again, increase the current production […]
‘s ministries should be aligned to be more effective
Sep 30, 2016 (LBO) – Sri Lanka’s budget allocations for national road development are high, but it needs to be attuned to needs, and ministries should be properly allocated, a senior official said. “The problem is that we have fragmented systems, especially transport and highways are two different ministries so it is very difficult for […]
Asia stocks slip as Deutsche sours mood, Brent USD49.24 on OPEC pact
SINGAPORE, Sept 30 (Reuters) – Asian stocks followed Wall Street lower in early trade on Friday, while oil prices held close to the highest level in almost a month on optimism over an OPEC plan to curb output. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, on track for a 0.4 percent […]
Sri Lanka can meet 5.4-pct budget deficit target for 2016: Ravi
Sep 30, 2016 (LBO) – Finance Minister Ravi Karunanayake said Sri Lanka is well on its way to achieving the fiscal target for 2016 as the Value Added Tax increase would be presented in Parliament next week. “Revenue collection is largely on target despite delays in passing the VAT amendments, and we are confident of […]
Sri Lanka’s Central Bank allows foreign investors full control: CIFL
Sep 29, 2016 (LBO) – Sri Lanka’s troubled Central Investment and Finance Company says the Monetary Board has assured that investors would get 100 percent control once the proposed investment materializes. Clarifying a newspaper report, CIFL said that such intervention would be subject to other circumstances of the mechanism of proposed investment. The investors have […]
Sri Lanka lube market grows 6.8-pct in 2015: report
Sep 29, 2016 (LBO) – Sri Lanka’s lubricant market has grown by 6.8 percent to 23.4 billion rupees in 2015, with 10.1 percent growth in automotive and 7.7 percent increase in industrial lube, the lubricant market report 2015 showed. The report compiled by its regulator Public Utilities Commission, however, said the marine lubricant market has […]
Sri Lankan rupee edge down ahead of bond auction
Sept 29, 2016 (Reuters) – The Sri Lankan rupee edged down on Thursday ahead of a bond auction as investors bought the local currency to buy bonds, and as importer demand for dollars exceeded greenback sales by exporters, dealers said. The spot rupee was trading at 146.75/85 per dollar, compared with Wednesday’s close of 146.62/70. […]
New HC Chitranganee Wagiswara presents credentials to Indian President
High Commissioner of Sri Lanka to India Chitranganee Wagiswara presented credentials to the President of India Pranab Mukherjee at Rashtrapathi Bhawan in New Delhi on Monday 26 September 2016. Meeting the President of India after presenting the Credentials, Mrs. Wagiswara conveyed the greetings of the President and the Prime Minister of Sri Lanka to the […]
One in four Sri Lankan households own a computer: survey
Sep 29, 2016 (LBO) – At least one computer is available in 24 percent of households in Sri Lanka, in urban as well as rural areas, the Department of Census and Statistics said in its Computer Literacy report for 2015. “That is about one out of every four households owns either a desktop or a […]