Author: lbostgadmin
Budget 2017 *** Live Coverage ***
* Finance Minister concludes budget speech * Committee of private and public sector to ensure budget implementation * Corporate income tax to be revised to a 3-tier structure 14%, 28% and 40%. WHT increased from 10% to 14% * Tax incentive for exporting of vehicles * Income tax to be streamlined * Reduce indirect taxes […]
Sri Lanka economy expected to grow 6.3-pct in 2017: CB
Nov 10, 2016 (LBO) –Sri Lanka’s economic growth is likely to be around 5 to 5.5 percent this year and expected to increase to 6.3 percent in 2017 and to grow further thereafter at an annual rate of 7 percent or above, the Central Bank said. Releasing its half yearly publication, ‘Recent Economic Developments: Highlights […]
Sri Lankan rupee trades firm on bank, exporter dollar sales
COLOMBO, Nov 10 (Reuters) – The Sri Lankan rupee traded slightly firmer on Thursday as dollar selling by exporters and banks outpaced demand for the greenback from importers ahead of the national budget, dealers said. Rupee forwards were active, with spot-next forwards trading at 147.75/148.00 per dollar at 0600 GMT compared with Wednesday’s close of […]
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(PRESS RELEASE) – Fitch Ratings-Colombo-10 November 2016: Fitch Ratings has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long- Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS SCBSL’s rating reflects the credit profile and financial strength of Standard Chartered Bank (SCB: A+/Stable). The rating is linked with SCB’s Issuer Default Rating […]
Nestlé Lanka’s growth at 6.1-pct in first nine months of 2016
(PRESS RELEASE) Nestlé Lanka’s growth at 6.1 % in first nine months of 2016 Sales of Rs.27.8 billion with 6.1% growth Net Profit ofRs. 3.5 billion Focuses oninnovation and renovation, in line with Nutrition, Health and Wellness agenda Recognized for work done on positively impacting local communities, supporting economic development and deliveringworld class locally manufactured […]
Sri Lanka govt to fund Rs635Mn development of BIA
Nov 10, 2016 (LBO) – Sri Lanka’s cabinet of ministers have given the go ahead to construct a new immigration hall, electronic mall and an expansion of the departure concourse at the Bandaranaike International Airport (BIA) with a total cost of 635 million rupees. Construction contract for the immigration hall and new mall construction had been awarded […]
U.S. markets rally after fears over Trump
Nov 10, 2016 (LBO) – US share markets rose on Wednesday shrugging off concerns that a Donald Trump presidential victory was bad for Wall Street. The Dow Jones rallied 1.4 percent, S&P 500 1.1 percent and Nasdaq rose 1.1 percent, after the pre-open futures market initially forecast a sell-off of as much as 4 percent […]
We look forward to a new world order with Trump: MR
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Sri Lanka govt approves phase 2 of Central Expressway, only single bidders
Nov 09, 2016 (LBO) – Sri Lanka’s cabinet has given the nod to build the second section of Central Expressway which runs from Mirigama to Kurunegala for 39.29 kilometers. The contract in this regard has been divided into four (04) packages and only one set of bidders submitted proposals for each of four civil work contract packages. […]
‘s President & PM congratulates US President-elect Donald Trump
My warm congratulations to US president-elect Donald J. Trump on this historic victory. @realDonaldTrump — Maithripala Sirisena (@MaithripalaS) November 9, 2016 Congratulations to President Elect @realDonaldTrump for this historic win. Your path to the White House has indeed been truly remarkable. pic.twitter.com/i7IdH5DyKH— Ranil Wickremesinghe (@RW_SRILANKA) November 9, 2016