Author: lbostgadmin
SEC issues cautionary notice to public on investing in offshore companies
Oct 14, 2019 (LBO) – Sri Lanka’s Securities and Exchange Commission says that it has become aware of a growing number of unsolicited phone calls from persons claiming to be agents of international stock broker firms, offering to facilitate investment in shares of companies traded on offshore jurisdictions with a promise of guaranteed high returns. […]
Italian government to help Sri Lanka to build Solid Waste Power Plant
Oct 14, 2019 (LBO) – Italian ambassador to Sri Lanka, Rita Mannella says that the Italian government is ready to provide technical assistance and investment opportunities to generate electricity using the waste which is a growing issue in the country. The Ambassador said that Sri Lanka could face the growing demand for electricity in the […]
Sri Lanka assures support to further the global disarmament agenda
Oct 14, 2019 (LBO) – Foreign Secretary Ravinatha Aryasinha has assured the UN high representative on disarmament Izumi Nakamitsu of Sri Lanka’s practical support in New York, Geneva and Vienna in furthering the global disarmament agenda. The Foreign Secretary who was in New York leading the Sri Lanka delegation to the 74th Session of the UN General […]
Growth in SA slows down, Sri Lanka growth to soften to 2.7-pct in 2019: World Bank
Oct 14, 2019 (LBO) – Economic growth in Sri Lanka is expected to soften to 2.7 percent in 2019, says the World Bank in its twice-a-year regional economic update. Supported by recovering investment and exports, as the security challenges and political uncertainty of last year dissipate, Sri Lanka’s growth is , however, projected to reach […]
Slowdown of Indian economy to affect Colombo port earnings: CBSL Chief
Oct 14, 2019 (LBO) – Earnings of Sri Lanka’s main commercial port in Colombo is to be affected by the slowdown of the Indian economy, the Central Bank Governor Indrajit Coomaraswamy said. India’s economic growth slumped to a six-year low of 5 percent in the April-June quarter and, according to the Reserve Bank of India […]
LOT Polish Airlines to start direct flights from Poland to Sri Lanka
Oct 11, 2019 (LBO) – Sri Lankan Embassy in Oslo together with LOT Polish Airlines celebrated the commencement of LOT’s direct flights from Warsaw to Colombo. Accordingly, LOT will fly seasonally three times a week from November to March by Boeing 787-9 Dreamliners. The event was attended by diplomats, corporate partners, members of the travel […]
Sri Lanka business registrations can now be done from home
Oct 11, 2019 (LBO) – Opening a new chapter in Sri Lanka’s private sector development, incorporation of a new company is now possible from the comfort of one’s own home. “Name reservation of companies could be obtained online. Company registrations and incorporations could be done online and there is no need for physical attendance at […]
Sri Lanka official reserves at USD7.6bn by Sept; YTD rupee appreciation 1.3-pct
Oct 11, 2019 (LBO) – Sri Lanka’s gross official reserves were 7.6 billion US dollars by end September, down from 8.5 billion US dollars in August, latest Central Bank data showed. Gross official reserves in September provide an import cover of 4.5 months. Meanwhile, the Sri Lankan rupee remains appreciated against the US dollar by […]
Sri Lanka Retailer’s Association joins Asia counterpart
Sidath Kodikara President of Sri Lanka Retailers’ Association (SLRA) and Murali Prakash, Vice president of SLRA attended the 19th Asia-Pacific Retailers Convention and Exhibition (APRCE), which is held in September 2019, at Chongqing Yuelai International Convention Center, Chongqing, China. The theme of this year APRCE was ‘New Retail, New Consumption, New Dynamics – Cooperation and […]
Sri Lanka CB maintains policy rates unchanged
Oct 11, 2019 (LBO) – Sri Lanka’s Monetary Board has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 7.00 percent and 8.00 percent, respectively. The Board arrived at this decision following a careful analysis of current and expected […]
CAL surpasses an LKR 100 Bn footprint in Investment Banking
Oct 10, 2019 (LBO) – Capital Alliance (CAL) has continued its reign as the market leader in Investment Banking services (Debt & Equity fundraising and Mergers & Acquisitions) with a transaction footprint of over 100 billion rupees in the past 24 months. With a focus on family businesses since its inception, CAL has been able […]
Moratuwa University shifts gears in innovation & commercialization
Oct 10, 2019 (LBO) – The University of Moratuwa is shifting gears in innovation and commercialization through the University Business Linkage Center (UBLC). UBLC was initiated with a University Grants Commission Circular and is funded by the World Bank for a few years through the AHEAD (Accelerating Higher Education Expansion and Development) project. The UBLC […]