Author: lbostgadmin
Sri Lanka Insurance gets a new chairman
Feb 16, 2015 (LBO) – Sri Lanka’s new administration has appointed Hemaka Amarasuriya, an accounting professional, who served for Singer Sri Lanka group for a long period as chairman of Sri Lanka Insurance Corporation.Amarasuriya an accounting professional, is the former Senior Vice President of Singer Asia Limited, Vice President of Retail Holdings Limited USA and […]
Sri Lanka’s Cargills gets US$20mn of IFC investment
Feb 16, 2015 (LBO) – International Finance Corporation (IFC), a unit World Bank has invested 20 million US dollars in Sri Lanka’s Cargill Food Company, the group said in a filing to stock exchange.The group said that IFC subscribed to an eight percent stake in the share capital of Cargills Food Company, wholly owned subsidiary […]
’s with India
Feb 16, 2015 (LBO) – Sri Lanka and India signed four memorandum of understandings (MOU) between both countries, during the first official visit of President Sirisena to India after assumed duties, a report said. Sudharshan Seneviratne, High Commissioner of Sri Lanka in New Delhi and Ashish Bahuguna, Secretary, Department of Agriculture & Cooperation signed a […]
Sri Lanka Tourist arrivals up 6.6-pct in January 2015
Feb 16, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 6.6 percent to 156,246 in January 2015 from a year earlier, driven by China, Russia, India and United Kingdom, data from the state tourism promotion office showed. South Asian visitors were up 14.6 percent to 28,392 compared to the same month last year supported by […]
’s President visits India
Feb 15, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena is to leave for India today as his first official foreign visit after assumed office in January. President will also attend religious observances at Bodh Gaya Temple and Tirupati Hindu Temple. In a telephone conversation with Priseident Sirisena on 13th Friday, Indian Prime Minister Narendra […]
Sri Lanka to attract Indian investments
Feb 13, 2015 (LBO) – Sri Lanka’s new administration plans to attract Indian Investments in to the Indian Ocean Island, and to develop strong relationship with India with the proposed visit of President Sirisena’s to India in mid – February. We have only got loans with high interest under the previous regime but not investments, […]
Sri Lanka to sign an agreement with India to wave off visa requirement for Diplomatic passport holders
Feb 13, 2015 (LBO) – Sri Lanka’s Cabinet of Ministers has approved the proposal made by the Minister John Amarathunga to sign an agreement with India to waive the requirement of obtaining of Visas for Sri Lanka and India by diplomatic passport holders and official travel documents. Sri Lanka’s President Maithripala Sirisena is to visit […]
Sri Lanka Aitken Spence December 2014 net down 19-pct
Feb 12, 2015 (LBO) – Profits at Sri Lanka’s Aitken Spence group fell 19 percent to 869 million rupees in the December 2014 quarter, interim accounts showed.The group reported earnings of 2.14 rupees per share for the quarter.For the nine months to December 2014, the firm reported earnings of 5.41 rupees per share on profits […]
Sri Lanka to return lands occupied by Military troops
Feb 12, 2015 (LBO) – Sri Lanka new administration is to return lands and buildings which occupied by the military troops in the time of Tamil tiger war for security reasons, a spokesman said today. The minister said the remaining 780 acres of land will also be used to resettle the people displaced by the […]
New Appointment
Feb 12, 2015 (LBO) – Sri Lanka’s Urban Development Authority (UDA) said Ranjith Fernando, a senior retired banker was appointed as the chairman of the authority. Nayana Nadeesha Mawilmada also been appointed as the new Director General of the Authority , the UDA said in a filing to stock exchange. The earlier office bearers had […]
‘s BOI companies not exempted from the super gain taxation: Government
Feb 11, 2015 (LBO) – Sri Lanka’s projects approved under the board of investment law will have to pay the one-off super gain tax, a government minister said.“We have to charge them also. They never paid taxes.†said, Dr. Harsha de Silva, deputy minister of policy planning and economic affairs. Silva speaking at a local […]
Sri Lanka Treasury bill yields up
Feb 11, 2015 (LBO) – Sri Lanka’s Treasury bill yields moved up on Wednesday’s auction with the 12-month yield increased to 6.10 percent, data from the state debt office showed. 6-month yield was also moved up to 5.98 percent from 5.90 percent in last week and 5,355 million rupees were accepted from 9.430 million rupees. […]