Author: lbostgadmin
Indonesia, Sri Lanka to strengthen trade and economic ties
Mar 09, 2017 (LBO) Sri lanka’s President Maithripala Sirisena, who is on a state visit to Indonesia, met with President Joko Widodo Wednesday with a proposal for a free trade agreement between the two countries among the topics discussed. The meeting between the two leaders commenced following a cordial discussion, a statement from the Sri […]
Nimal Perera resigns as director from several companies
Mar 08, 2017 (LBO) – High net worth investor Nimal Perera has resigned as a director of several companies, as per disclosures to the Colombo Stock Exchange. Wickramaratne told reporters Wednesday that discussions with regard to the subject of airlines is a complex matter to be deal with. generic “There were eight bidders initially then […]
PTL Watch: Sri Lanka T-bill yields higher at auction
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/03/PTL-Daily-Market-Report-08th-March-2017-1.pdf” title=”PTL Daily Market Report 08th March 2017 (1)”]
Chinese delegation inspects Hambantota port, airport during fact finding mission
The Board of Investment of Sri Lanka recently hosted a delegation consisting of senior officials from Chinese People’s Political consultative Conference of Shanghai (CPPCC). The delegation consisted of 6 senior officials of the communist party of China (Shanghai chapter) and was led by Mr. Xu Yibo, Vice Chairman of the CPPCC Shanghai Committee. The delegation […]
S&” rating on Sri Lanka
Mar 08, 2017 (LBO) – Standard and Poor global ratings affirmed its ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka while keeping a ‘negative’ outlook unchanged, a statement said. “High external debt, and low reserves continue to make Sri Lanka vulnerable to external shocks. Other rating constraints on Sri Lanka include the […]
MAS joins hands with UNFPA to ensure gender-mainstreamed corporate policies
(PRESS RELEASE) – Colombo, 7 March 2017: Sri Lanka’s female labour force participation is declining. In 2006, females constituted 39. 5% of the working force, where as in 2014, this number has come down to 36.3%. In response to this socio-economic issue, it is imperative that organizations continuously review corporate policies to instill an organizational […]
New Zealand keen to broaden investment in Sri Lanka
Mar 08, 2017 (LBO) – The Government of New Zealand expects to broaden existing investment in Sri Lanka and is ready to assist in economic development activities in the island, the finance ministry said in a statement. New Zealand wants to provide technical support in infrastructure development and assist in developing the agricultural sector of […]
Pan Asia Bank completes Rs 2Bn rights issue
Mar 08, 2017 (LBO)- Sri Lanka’s Pan Asia Banking Corporation said they were successful in completing a rights issue to raise up to 2.06 billion rupees. In December 2016 the bank announced the issue of 147. 5 million shares at one new share for every two shares held at an issue price of 14 rupees. […]
Sri Lanka BPPL Holdings IPO oversubscribed
Mar 08, 2017 (LBO) – Sri Lanka’s brush exporter BPPL Holdings said its initial public offer of 30. 68 million ordinary shares at 12 rupees each was oversubscribed the opening day. The company said in a stock exchange filling that therefore they were closing the offer, Tuesday. The company also known as Beira group said Hirdramani […]
Sri Lanka to train foreign service in economic diplomacy: Harsha
Mar 07, 2017 (LBO) – Sri Lanka’s government will be training its officials in the foreign service through a online economic diplomacy course with Harvard University to help improve the island’s investment and export promotion, a deputy minister said. “Sri Lanka is running a race, where we are behind Thailand, Vietnam, Myanmar and Malaysia,” Harsha […]
No proposal yet for new Coca-Cola plant in Sri Lanka: Minister Malik
Mar 07, 2017 (LBO) – Sri Lanka’s International Trade Ministry has not yet received a request for setting up a new Coca-Cola plant in the island, Development Strategies and International Trade Minister Malik Samarawickrama said. “We have not received any proposal with regard to establishing a Coca-Cola production factory in Sri Lanka,” Minister Samarawickrama told […]
Sri Lanka fulfilled Dec fiscal targets, eyes on SOE reforms: IMF
Mar 07, 2017 (LBO) – Sri Lanka needs to accelerate implementation of structural reforms in public financial management and state owned enterprises, the International Monetary Fund said Tuesday, concluding a staff visit. A staff team from the IMF led by Jaewoo Lee visited Colombo during February 21-March 7, 2017 to hold discussions on the second […]