Author: lbostgadmin
‘s Chamber of Commerce welcomes 19th amendment; concerns over constitutional council
Apr 29, 2015 (LBO) – Sri Lanka’s Chamber of Commerce has welcomed the enactment of the 19th amendment to the constitution saying it improves democratic ideals. Issuing a press release the Chamber has hailed the crucial roles played by the President, Prime Minister and the leaders of all political parties in arriving at a consensus; […]
‘s United National Party corrects historical mistake: Ravi Karunanayake
Apr 29, 2015 (LBO) – Sri Lanka’s largest single political party on Tuesday corrected its historical mistake by passing the 19th amendment to the constitution, Finance Minister Ravi Karunanayake said.”We are the ones who created the Executive Presidency. We accept that it was indeed a mistake.But taking a long time to correct that mistake was […]
‘s President says “Thank You everyone for contributing towards passing 19A”
Apr 29, 2015 (LBO) – Sri Lanka’s President, Maithripala Sirisena thanked all the parliamentarians who supported the adoption of the 19th amendment to the constitution with two-thirds majority, a statement said. Sri Lanka’s Parliament on Tuesday approved the second reading of the much awaited 19th amendment with a two third majority. 215 parliamentarians voted in […]
Sri Lanka’s growth model needs to be modified: Economist
Apr 29, 2015 (LBO) Sri Lanka needs to rethink its growth model as the current system is severely constrained due to the Island’s fragile debt dynamics, a senior economist said. Over the last 6 7 years, Sri Lanka’s growth model has been based on commercial external borrowing led infrastructure development, Indrajit Coomaraswamy, Deputy Chairman of […]
Sri Lanka enacts constitutional amendment; executive powers diluted
Apr 28, 2015 (LBO) – Sri Lanka’s Parliament on Tuesday passed the third reading of the 19th amendment to the constitution with 212 votes in favor and one against it.Dr. Sarath Weerasekara voted against it and Ajith Kumara abstained.Ten parliamentarians were absent. “This is a historical moment.We thank the President, Speaker, Opposition Leader, every parliamentarian […]
Sri Lanka Parliament passes 19th amendment
Apr 28, 2015 (LBO) – Sri Lanka’s Parliament on Tuesday approved the second reading of the much awaited 19th amendment with a two third majority.215 parliamentarians have voted in favor of the 19th amendment while Dr. Sarath Weerasekara voted against it.Ajith Kumara was the only parliamentarian abstained from voting. Basil Rajapaksa, Premala Jayasekara, Keheliya Rambukwella, […]
Sri Lanka’s SEC sympathetic towards controversial Citrus Kalpitiya Beach Resort; EGM postponed
Apr 28, 2015 (LBO) – Sri Lanka’s Securities and Exchange Commission has requested the controversial Kalpitiya Beach Resort to postpone the scheduled extraordinary general meeting (EGM) which was supposed to held in May, by another month. “This was to enable the Company to come up with a precise direction on the future course of action […]
Sri Lanka stocks close up 0.1-pct
Apr 28, 2015 (LBO) – Sri Lanka’s stocks closed 0.13 percent higher despite a crucial Parliamentary vote to be taken shortly, brokers said. The Colombo benchmark All Share Price Index closed 9.31 points higher at 7,134.43 up 0.13 per cent. The S&P SL20 closed 5.47 points higher at 4,026.26 up 0.14 per cent. Foreigners bought […]
Sri Lanka sells $81.25mn of 2 and 3 year development bonds
Apr 28, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 108.25 million US dollars of bids received from investors. The central bank has accepted 30.00 million US dollars of two year bonds at a rate of 6 month US dollars LIBOR plus a […]
Sri Lanka Treasury bill yields dropped: Central Bank
Apr 28, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down on Tuesday’s auction with the 12-month yield dropped 11 basis points to 6.39 percent, data from the state debt office showed. It was decided to accept 5,715 million rupees from the auction of 12 month yield.6-month yield was also down from three basis […]
‘s CSE takes over SAFE Chairmanship
Apr 28, 2015 (LBO) – Sri Lanka’s Chairman of the Colombo Stock Exchange was unanimously elected as the Chairman of the South Asian Federation of Exchanges at the annual general meeting of SAFE concluded recently, the CSE said in a statement. CSE Chairman Vajira Kulatilaka succeeds Dr. Muhammad Abdul Mazid as the Chairman of SAFE […]
Sri Lankan MP Harsha de Silva says capital markets should develop instruments not only for rich but also for poor
Apr 28, 2015 (LBO) – South Asia needs to make financial instruments for people who are in the bottom of the economic pyramid rather than making instruments only for riches, Deputy Minister of Policy Planning and Economic Development of Sri Lanka said.“All of us in the SAFE (South Asian Federation of Exchanges) are facing similar […]