Author: lbostgadmin
Sri Lanka backs Indian Ocean security at IORA
Oct 28, 2016 (LBO) – Sri Lanka’s Foreign Minister has called for the Indian Ocean Rim Association (IORA) to take collective steps to ensure security in the region while moving into a new era of dynamism. “It is necessary for IORA and its members to take collective steps to ensure the security of the Indian […]
India’s sub-sea power cable can be a solution for Sri Lanka: PUCSL
Oct 28, 2016 (LBO) – The planned laying of a sub-sea electricity cable to transmit power from India to Sri Lanka can be one solution to the island’s looming power crisis, a senior official said. “We see this as a solution, the Indo-sea cable has been in discussion for some time with a pre-feasibility also […]
Sri Lanka must balance reconciliation with accountability: Jayasuriya
Oct 28, 2016 (LBO) – Sri Lanka faces the challenge of balancing reconciliation with accountability in addressing the ethnic conflict, Karu Jayasuriya, speaker of the Parliament, said at the 135th assembly of the Inter-Parliamentary Union held in Geneva this week. “We are mindful of the necessity to rebuild trust and harmony through reconciliation which is […]
Sri Lanka’s tallest residential project to have fastest elevators
Oct 28, 2016 (LBO) – Sri Lanka’s tallest residential building, the Altair project, will have country’s fastest elevators, Aitken Spence said in a statement. Aitken Spence said that world’s largest manufacturer and maintainer of people-moving products Otis has been selected to provide high-speed elevators to the project in Colombo. Elevators Private Limited, a joint venture […]
Sri Lanka’s increased VAT to be applied from Nov 01
Oct 28, 2016 (LBO) – Inland Revenue Department said the changes to VAT and NBT will be implemented with effect from November 01. Releasing a statement, its Commissioner General said further details will be updated in due course. As per the amendments passed, VAT will be increased from 11 percent to 15 percent while NBT […]
Sri Lanka Central Bank to keep rates steady ahead of budget
COLOMBO, Oct 27 (Reuters) – Sri Lanka’s central bank is expected to keep its key interest rates steady on Monday, a few days ahead of the national budget and the government’s five-year policy, analysts said. The central bank has already tightened its monetary policy stance three times since December, to fend off pressure on a […]
Piramal Glass Ceylon profits down 73-pct in H1 2017
Piramal Glass Ceylon PLC has successfully completed the 1st half of F2017 with its revenue crossing Rs.3 Bn mark & with a growth of 3% as against previous year H1. This was a remarkable performance as the company had to supply the market whilst its factory was non-operational for a period of 2 months for […]
PTL Watch: Short-term yields higher on foreign selling
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CA Sri Lanka to partner SAFA and World Bank to host regional seminar on public sector financial reporting
(PRESS RELEASE) -The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and its public sector wing, will host a high profile regional seminar in November, to help stimulate thinking on how South Asia can take financial reporting practices to the next level. Organised by the South Asian Federation of Accountants (SAFA), World Bank […]
Sri Lankan rupee weaker; moral suasion caps fall
Oct 27, 2016 (Reuters) – The Sri Lankan rupee traded weaker on Thursday on importer demand for the U.S. currency with moral suasion by the central bank preventing a fall in both the spot currency and spot-next, dealers said. Rupee forwards were active, with the one-week trading at 148.15/30 per dollar at 0538 GMT compared […]