Author: lbostgadmin
International Forum offers investment and capacity building
Press Release: Hon. Malik Samarawickrama, Minister of Development Strategies and International Trade welcomed the participants of the 10th Annual Forum of Development Countries Investment Negotiations which was organized by the International Institute for Sustainable Development (IISD), the South Center and co-hosted by the Ministry of Development Strategies and International Trade and Board of Investment of […]
Ceylon Chamber concerned over pharma product pricing
Nov 07, 2016 (LBO) – The Ceylon Chamber of Commerce has expressed concerns about fixed prices on medicinal drugs announced by Government Gazette. “Sri Lanka has a strong and accessible public healthcare system, complemented by a quality private healthcare system that is catering to evolving needs of the Sri Lankan people,” the business chamber said […]
India, Sri Lanka hold ministerial talks on fishermen
Nov 07, 2016 (LBO) – India and Sri Lanka have held ministerial level talks to find solutions to fishermen’s issues. External Affairs Minister Sushma Swaraj and Minister of Agriculture & Farmers Welfare Radha Mohan Singh met with the Sri Lankan Minister for Foreign Affairs Mangala Samaraweera and Minister for Fisheries and Aquatic Resources Development Mahinda […]
‘s exports: World Bank
Nov 07, 2016 (LBO) – Sri Lanka could grow it exports by encouraging resources to more productive firms through managing urbanization and fostering agglomeration of firms, a World Bank report states. Firms could also invest more in training their workers and managers, with active measures from the government, the report states. “Sri Lanka’s leading firms […]
Sri Lanka’s JKH net up 8-pct in September 2016 quarter
Nov 04, 2016 (LBO) – Sri Lanka’s diversified conglomerate John Keells Holdings group net profits rose 8 percent to 3.8 billion rupees in the September quarter from a year earlier, the interim accounts showed. The firm reported basic earnings of 2.77 rupees per share for the quarter against 2.65 rupees reported a year earlier. Group […]
‘s Aitken Spence second quarter profits up 50-pct
Nov 07, 2016 (LBO) – Aitken Spence PLC posted 540 million rupees as profits attributable to equity holders of the company in the second quarter, an increase of 50 percent year-on-year. Pre-tax profits rose by 26 percent to 973 million rupees while revenue rose by 70 percent to 9.8 billion rupees, in the second quarter […]
No permission to increase powdered milk: Finance Minister
Nov 04, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says that the prices of powdered milk will not be increased for whatever reason following the recent imposition of VAT on imported powdered milk. VAT was imposed on imported powdered milk with effect from November 1st under the new VAT Amendment Act. The Finance […]
Sri Lankan rupee firmer on exporter dlr sales; stocks edge lower
Nov 04, 2016 (Reuters) – The Sri Lankan rupee edged up on Friday as dollar selling by exporters surpassed the demand for the greenback from importers, dealers said. Rupee forwards were active, with one-week forwards trading at 148.30/40 per dollar at 0604 GMT, compared with Thursday’s close of 148.80/90. “Exporter conversions are exceeding the importer […]
Fitch rates LB Finance senior and subordinated debt
Fitch Ratings has assigned LB Finance PLC’s (LB; A-(lka)/Stable) proposed senior unsecured and subordinated debentures expected National Long-Term Ratings of ‘A-(lka)(EXP)’ and ‘BBB+(lka)(EXP)’ respectively. The issuance is to total LKR5bn, with the debentures to mature in five years and carry fixed coupons. The debentures are to be listed on the Colombo Stock Exchange. LB expects […]
Opinion: Blood on your hands? Guard the safeguards
By the Commuter The politicians have a new excuse. So do the bureaucrats, and seemingly some segments of the public. Apparently, projects are getting delayed due to regulatory requirements to safeguard environment and citizens’ rights. Such as having to do a proper EIA. Or comply with equitable procedures in land acquisition. And the “smarter” ones […]