Author: lbostgadmin
Fitch Affirms Nine Sri Lankan Banks; Downgrades Sampath Bank
July 08, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the ratings on nine local banks while downgrading the national long term rating of Sampath Bank which reflects the weakening of its capitalization relative to peers, which offset benefits from the growth of its franchise. The full text of the press release issued by Fitch […]
Kerala government to start a tourism campaign in Sri Lanka
July 08, 2015 (LBO) – Kerala tourism department is to start an aggressive ‘Visit Kerala’ campaign in Sri Lanka, Kerala state tourism minister has said. “Around 2.2 lakh tourists from Sri Lanka visit India every year but very few travel to Kerala,” State tourism minister A. P. Anil Kumar has told Indian media. “We will […]
Sri Lanka may increase taxes for tobacco and alcoholic products in the next budget
July 8, 2015 (LBO) – Sri Lanka may increase the taxes for tobacco and alcoholic products in the coming budget as the economic loss for the country is threefold than the income from these products to the government, government official said.“We expects the government will take action with regard to the price of tobacco and […]
Sri Lanka stocks close down 0.6-pct; JKH lower
July 08, 2015 (LBO) – Sri Lanka’s stocks closed down 0.63 percent on Wednesday, a third consecutive day of declines, with index heavy stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed 43.99 points lower at 6,923.79 down 0.63 percent. The S&P SL20 closed 41.16 points lower at 3,850.37 lower at 1.06 […]
Sri Lanka’s 3 and 6 months Treasury bill yields up: Central Bank
July 8, 2015, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with 3-months yield up 03 basis points to 6.14 percent and 6-month yields also were also up 05 basis points, to 6.26 percent, data from the state debt office showed.It was decided to accept 12,918 million rupees from the […]
Sri Lanka exports to US rise with renewed GSP: Ministry of Industry & Commerce
July 8, 2015 (LBO) – Sri Lanka’s exports to United States are improving at a hectic pace helped by renewal of the GSP facility in June, Ministry of Industry and Commerce said in a statement. “US is the biggest consumer of Sri Lankan exports in the world as well as Lankan apparels,” Minister of Industry […]
Ranjan thanks Maithri for allowing Mahinda to contest under UPFA
July 08, 2015 (LBO) – Sri Lanka’s former Deputy Minister Ranjan Ramanayake says he is greatful to President Maithripala Sirisena for allowing Mahinda Rajapaksa to contest under the UPFA ticket.“We are very greatful to the President for allowing us to criticize a corrupted group as our opponents,” Ramanayake told reporters Wednesday.“Otherwise we have no other […]
“The sooner we have political stability the better”: Dialog Chief
July 08, 2015 (LBO) – Political uncertainty coming to an end is a good thing for all listed companies as this will lead the way for more investments, Hans Wijayasuriya, Group Chief Executive, Dialog Axiata said. “The sooner we see stability the better,” he said.“This will also pave the way for more foreign investments,” “But […]
Chinese shares drop over 8-pct, amid regulators help
July 08, 2015 (LBO) – China’s main stock index, Shanghai Composite fell 8.2 percent at the start of trading Wednesday with the index dropping 4 percent to 3576.79, foreign media reports said. The smaller Shenzhen Composite fell 3.9 percent. The media report said, the slump came despite more moves by China’s regulators to try and […]
Sri Lanka’s to probe into tsunami relief vehicles
July 8,2015 (LBO) – Sri Lanka’s Minister of Finance, Ravi Karunanayake, has initiated an inquiry into the importation of high-value vehicles for tsunami relief and subsequently given to third parties without paying due taxes and depriving the state of billions of rupees, a statement said.This was brought to light when a vehicle imported for a […]
Sri Lanka Stock Market up 15-pct by April 2015: Report
July 08, 2015 (LBO) – Sri Lanka’s main stock index showed an increase of 15.3 percent by end April 2015 in comparison to the same period last year, a recent Finance Ministry report said. “All Share Price Index (ASPI) reached 7,179 by end of April 2015, which is an increase of 15.3 percent in comparison […]
Sri Lanka tea faces challenges due to other beverages, climate and wages: Study
July 08, 2015 (LBO) – Competition from other beverages, climatic changes and worker wages are the key issues global tea industry is facing including Sri Lanka, a recent study has showed. “The study points out that the tea industry will have to fight it out to sustain or grow its share with strong competition coming […]