Author: lbostgadmin
‘s Herath clinches bronze at Rio Paralympics
Sep 14, 2016 (LBO) – Sri Lanka’s Dinesh Priyantha Herath, a 30-year-old, secured the islands first medal in men’s javelin throw F46 final at the Rio Paralympics. He claimed the third spot clearing a distance of 58.23 meters behind India’s Devandra Jhahharia, who won Gold, and Guo Chunliang of China who secured Silver. Herath hails […]
Stocks waver as policy uncertainty, weaker oil sap confidence
TOKYO, Sept 15 (Reuters) – Asian stocks wavered on Thursday as investors grappled with the seemingly diminishing ability of major central banks to stimulate growth, while a tumble in crude oil inflamed already heightened risk aversion. Global bond yields have risen in sympathy with depressed sentiment, adding to nervousness over when the Federal Reserve might […]
Sri Lankan rupee weaker on importer dollar demand
Sept 14, 2016 (Reuters) – The Sri Lankan rupee edged down on Wednesday as importer dollar demand surpassed mild exporter sales of the U.S. currency, dealers said. At 0608 GMT, the spot rupee was at 145.42/50 per dollar, slightly weaker from Tuesday’s close of 145.38/43. One-week forwards were at 145.65/75, compared with the previous day’s […]
Sri Lanka revises VAT threshold for wholesale & retail trade
Sept 14, 2016 (LBO) – Sri Lanka’s cabinet has approved a new draft bill revising the VAT liable threshold for wholesale and retail trade, a cabinet decision said. Under the new amendments, the threshold for VAT liability on wholesale or retail supply of goods has been revised to 12.5 million rupees for a quarter, or 50 […]
Axiata Group looks to trim stakes in overseas operations
Sept 14, 2016 (LBO) – Axiata Group Bhd., Malaysia’s biggest mobile-phone operator, is seeking to trim stakes in some of its overseas operations, a report said. The Kuala Lumpur-based company is seeking a buyer for about 11 percent of Indonesian unit PT XL Axiata, which has a market value of 2.2 billion, dollars according to […]
Vitol to be reinstated if guidelines met: Petroleum Min
Sept 14, 2016 (LBO) – Sri Lanka’s Petroleum Minister Chandima Weerakkody said Vitol, the world’s largest oil trading firm, will be reinstated as a supplier if they can prove their products meet necessary guidelines. “I have called for a report from CPC and the Cabinet Appointed Tender Committee. I was told that the committee approved […]
Sri Lanka fuel pricing formula accepted in principle: minister
Sept 14, 2016 (LBO) – A proposal for automatic fuel pricing has been accepted in principle, Sri Lanka’s Petroleum Minister Chandima Weerakkody said on Wednesday, adding a timeline for implementation has not yet been decided. “The Finance Ministry and relevant committees are discussing the details. My proposal has been accepted in principle,” he said, speaking […]
China’s strategic Silk Route region in direct opening to Sri Lanka
(PRESS RELEASE) – Sri Lanka-China historic relations appear to be dating back way earlier than currently believed, according to revelations by a top Chinese official-and strategic frontier province in China’s 21st Century Maritime Silk Route plan calls to expand trade and friendly cooperation with Sri Lanka – almost on its own. “I believe that with […]
Asian stocks fall to 6-week lows as bond rout intensifies
TOKYO/HONG KONG, Sept 14 (Reuters) – Asian stocks fell to fresh six-week lows on Wednesday and the greenback stood strong against a broad swathe of currencies including the Japanese yen as concerns grew about the fading impact of the world’s major central banks to stimulate growth. Losses in stock markets across Asia deepened as rising […]
LankaPay says USD Online crosses Rs. 1.8bn mark
Sep 14, 2016 (LBO) – Payment network LankaPay says they will continue to expand services towards better financial inclusivity and is keen on expanding their core product offering. “Customers can expect more along these lines of innovations in the near future,” Channa de Silva, LankaClear chief executive officer and general manager said. “In addition to […]
Sri Lanka budget deficit to be 4.7-pct in 2017, FinMin tells IMF
Sep 14, 2016 (LBO) – Sri Lanka’s Finance Minister said that the island plans on reducing the budget deficit to 4.7 percent in 2017. “We had a budget deficit of 6.7 percent of the GDP last year and this year’s target will be 5.4 percent. it will be further reduced to 4.7 percent in 2017,” […]
CA Sri Lanka evaluates pros & cons of ETCA for Chartered Accountants
In its capacity as the national body of accountants, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), recently engaged its stakeholders by conducting a forum exclusively for the benefit of its members focusing on the Economic and Technology Co-Operation Agreement (ETCA) between India and Sri Lanka. The forum was organised in an […]