Author: lbostgadmin
Central Bank says incomes of rich people grew faster over the last five years
Central Bank says incomes of rich people grew faster over the last five years.Central Bank says incomes of rich people grew faster over the last five years. The bank, which released preliminary findings of its consumer finance and socio-economic survey, says living conditions and real incomes have however, improved across the board. “That the rich […]
The Fact is…
Financial sector regulator called for banks and their auditors to work closely to ensure banks’ financial statements reflect their true position.Financial sector regulator called for banks and their auditors to work closely to ensure banks’ financial statements reflect their true position. Central Bank says this will help enhance the reputation of banks among the industry […]
Banking on IT
A top CitiGroup executive said adapting to and leveraging technology is the biggest challenge facing banks around the world. A top CitiGroup executive said adapting to and leveraging technology is the biggest challenge facing banks around the world. Victor Menezes a Senior Vice Chairman of Citi Group told LBR that banks in the sub continent […]
The House Jack Built
Who’s complaining when you can build a house for just Rs.150,000? A 580 sq. ft. house with two verandas, a bedroom, a hall and a kitchen costs only Rs. 150 000. Who’s complaining when you can build a house for just Rs. 150,000? A 580 sq. ft. house with two verandas, a bedroom, a hall […]
The Treasury is planning to issue a fresh US$ 100 million of commercial bonds next year while giving up on cheaper program loans from lenders
The Treasury is planning to issue a fresh US$ 100 million of commercial bonds next year while giving up on cheaper program loans from lenders.The Treasury is planning to issue a fresh US$ 100 million of commercial bonds next year while giving up on cheaper program loans from lenders. The government has already issued US$ […]
Govt. ramining stakes in NDB, Lanka Cement and Ceylon Shipping Agencies up for sale
The Government’s privatization arm has added a fresh set of minority stakes including parcels in NDB, Lanka Cement and Ceylon Shipping Agencies, to its list of passive investments for sale.The list included stakes in Galadari Hotels, Commercial Bank, Ceylon Agro Industries and shares in the plantation sector. Shareholding in quoted companies in the list, at […]
Norway relieves Sri Lanka’s debt burden with a million dollar grant to partially repay loans owed to the World Bank
Sri Lanka has tapped Norwegian government’s generosity for a US$ 1.13 mn grant to settle part of its debts owed to the World Bank. Sri Lanka has tapped Norwegian government’s generosity for a US$ 1.13 mn grant to settle part of its debts owed to the World Bank. The grant has been provided to a […]
Long Chat
Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide.Pioneering mobile operator Celltel Lanka Ltd picked up a US$ 20 mn cheque from a syndication of banks to deploy its network islandwide. Led and co-arranged by Hatton National Bank, the five year […]
Local tea market will pay 15 % VAT for buying at the auctions
The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The tax was slapped on beginning at this week’s […]
Tax Trap
The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The Inland Revenue Department made Value Added Taxes (VAT) payments mandatory on all teas brought for the local market at the weekly auctions. The tax was slapped on beginning at this week’s […]
De-Stuffing
People are not eating much bread anymore, as early Central Bank findings show locals spending instead on better food, phones, education, and more fun.People are not eating much bread anymore, as early Central Bank findings show locals spending instead on better food, phones, education, and more fun. The Central Bank just wrapped up its Consumer […]
Sri Lanka picks up US$ 80 mn to develop North and East
Sri Lanka picked up US$ 80 mn from the Asian Development Bank (ADB) as part of a second tranche to develop rehabilitation needs of nearly two million people affected in the North and East.Sri Lanka picked up US$ 80 mn from the Asian Development Bank (ADB) as part of a second tranche to develop rehabilitation […]