Author: lbostgadmin
Indonesia grants visa-free facility to Sri Lanka, other countries
Apr 04, 2016 (LBO) – Indonesia has granted visa-free facility to 169 countries including Sri Lanka under a new visa regulation. Indonesian President Joko Widodo has signed Presidential Regulation concerning Visit Visa Exemption early last month adding 79 countries to the list. Indonesian immigration office said passport holders of these countries are exempt for having […]
11 super luxury vessels called at Colombo Port last month
Apr 04, 2016 (LBO) – The number of passenger vessels calling at the Port of Colombo has increased with 11 super luxury passenger vessels calling at the passenger and other terminals during March 2016, the Ports Authority said. Among them were MV Cosalam Inosa, MV Costa Neoriviera, MV Island Sky, MV Rotterdam, MV Pacific Princess, […]
‘s capital
Apr 04, 2016 (LBO) – Sri Lanka’s Ekroma Realtors, a privately owned real estate developer, unveiled plans for an apartment complex targeting young professionals and families who need the convenience of city living in a central location. “We saw that there was scope for growth in the in luxury and modern living market and there were […]
Sri Lanka to formulate 25 year electricity sector master plan with JICA
Apr 04, 2016 (LBO) – Sri Lanka is planning to develop a comprehensive electricity sector master plan of 25 years for the generation, transmission and distribution development for the whole country with JICA support. The project will cover the consideration of new technical challenges which Ceylon Electricity Board as an implementing organization may face by […]
SEC to engage listed companies on Minimum Public Float
Apr 04, 2016 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) with the participation of the Colombo Stock Exchange (CSE) will conduct a forum to discuss the rules imposed on maintaining a Minimum Public Float. The forum will be held on the 6th of April 2016 at Cinnamon Lakeside Colombo. “Minimum Public […]
India likely to cut rates, eyes on FOMC minutes
Apr 04, 2016 (LBO) – Both the Reserve Bank of India and the Reserve Bank of Australia will announce interest rate decisions on Tuesday, with Moody’s Analytics expecting the RBI to cut its policy rate by 25 basis points to 6.5 percent. The Monetary Authority of Singapore will also meet this week, and analysts expect […]
Virtusa rolls out ‘Future Architects’ Program
Apr 04, 2016 (LBO) – Virtusa Corporation, a global business consulting and IT outsourcing company, announced the ‘Future Architects’ program with the aim of enhancing the skills of their senior consultants and enabling them to make the transition. The role of a software architect today stretches beyond core technical activities to being a strategic, business oriented consultant, the […]
We have done better than our peers says MD at Sampath Bank
Sampath Bank PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of April. Sampath Bank PLC Chairman Mr. Dhammika Perera, Managing Director Mr. Aravinda Perera, COO Mr. Nanda Fernando, Senior DGM for Consumer Banking […]
Final decision on VAT next week, says State Finance Minister Lakshman Yapa
Apr 01, 2016 (LBO) – The final decision on Value Added Tax will be taken by next Friday, State Finance Minister Lakshman Yapa Abeywardena told LankaBusinessOnline a short while ago. “No decision has been taken yet. It will be decided next Friday,” Abeywardena said. Inland Revenue Department has issued a notice to the VAT registered […]
Sri Lanka’s BOI signs 16 agreements for first 2 months of 2016
Apr 01, 2016 (LBO) – The Board of Investment of Sri Lanka has signed 16 new project agreements for the first two months of this year. The said agreements represent a cumulative future investment of 110 million US dollars, the BOI said in a statement. The investment office further said these projects will be generating […]
Fitch warns rising exposure to microfinance by non-bank financial institutions
Apr 01, 2016 (LBO) – Rising exposure to microfinance at Sri Lankan non-bank financial institutions (NBFIs) could pose a risk to their credit profiles, says Fitch Ratings. The exposure among Fitch-rated NBFIs stood at just 4 percent of total loans of these entities as recently as March 2014. But this had increased to 27 percent […]