Author: lbostgadmin
Sri Lanka Megapolis official resigns over Panama Papers scandal
Apr 12, 2016 (LBO) – Megapolis and Western Development Ministry today said Ministry Consultant Vidya Amarapala had decided to resign from his post to facilitate inquiry into the Panama Papers leaks. “The attention of the Megapolis and Western Development Ministry has been drawn to the listing of the name of Ministry Consultant Vidya Amarapala in the […]
Sri Lanka to re-impose share transaction levy from 15 April
Apr 12, 2016 (LBO) – Sri Lanka will re-impose the share transaction levy at the rate of 0.3 percent from 15 April, 2016, the Colombo Stock Exchange said. The levy would be charged from every buyer and seller on the turnover of every share trading transaction done on the CSE. The share transaction levy was […]
Sri Lanka economy adjusting, may receive USD1-1.25 bln from IMF: CB
Highlights from press conference: * GDP grew 4.8 pct in 2015, vs 4.9 pct 2014 * Sri Lanka may receive around USD 1-1.25 billion IMF support: Governor * USD500 mln renminbi bonds may be issued in coming months: Governor * Worker remittances fell 0.5 pct to USD6.9 bln in 2015 * Official reserves at USD6.2 […]
PTL Watch: Bond yields tick up on some profit taking
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Sri Lanka moving ahead with Panama Papers investigation: CB Governor
Apr 12, 2016 (LBO) – Sri Lanka is moving ahead with an investigation on leaks contained in the Panama Papers, although clear information is not yet available, Central Bank Governor Arjuna Mahendran told reporters. “We have got some of those papers, and we are requesting further information from our counterparts,” Mahendran said. The names of […]
‘s Kris
Apr 12, 2016 (LBO) – Disruption goes hand-in-hand with disintermediation and is a key feature that drives innovation, Kris Canekeratne of global IT outsourcing company Virtusa said. He was speaking at the well-attended LBR LBO Enterprise Summit 2016: Build Smarter Businesses with Smart Technologies or be Outsmarted, held in Colombo on Thursday. “What would life […]
‘s Hilton gets new board
Apr 12, 2016 (LBO) – Krishantha Cooray has been appointed Chairman and Non Executive Director of Hotel Developers Lanka (Hilton Hotel), a statement said. Following Non-Executive Directors too have been appointed: Athula Senanayake, Tehani S. Mathew, Dinouk Colombage, Sonali Liyanamana, Dhanushka R. Samarasinghe and M.Shezmin Manzoor, according to a filing to the Stock Exchange.
Three member committee to streamline Chinese projects in Sri Lanka
Apr 12, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe has pledged to China to appoint a three-member high powered committee to streamline and expedite Chinese projects and investments in Sri Lanka. Special Assignments Minister Dr. Sarath Amunugama, Development Strategies and International Trade Minister Malik Samarawickrama and Economic Affairs Ministry Consultant R.Paskaralingam will be […]
Goldman Sachs pays USD5 bln to settle role in financial crisis
Apr 12, 2016 (LBO) – Top investment bank Goldman Sachs will pay 5.06 billion dollars to settle allegations that it sold packages of questionable mortgages to investors during the period leading up to the financial crisis. Between 2005 and 2007, Goldman Sachs discovered problems with the mortgages it was selling to investors but didn’t tell […]
Sri Lanka makes progress towards IMF facility: IMF mission
Apr 11, 2016 (LBO) – Sri Lanka has made significant progress toward reaching an International Monetary Fund (IMF) support facility, which could get approval within the next two weeks, an IMF review mission said concluding its visit. A staff team led by Todd Schneider visited Colombo during March 31-April 11 to hold 2016 Article IV […]
PTL Watch: Sri Lanka yields volatile, 9-year at 12.10 pct
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Land for Sri Lanka Volkswagen assembly plant secured: BOI
Apr 11, 2016 (LBO) – Sri Lanka’s Board of Investment has helped to secure land for the setting up of a Volkswagen assembly plant, the investment promotion agency said. “Through the successful facilitation by Upul Jayasuriya, chairman of the Board of Investment of Sri Lanka and his officials, working closely with the Ministry of Lands, […]