Author: lbostgadmin
Sri Lanka’s tax collection up by Rs100bn in 1H 2016
Aug 18, 2016 (LBO) – Tax revenue in Sri Lanka’s government has increased by 100 billion rupees for the first half of this year, co-cabinet spokesman Minister Gayantha Karunathilaka said. Karunathilaka said Finance Minister has informed the cabinet that the total tax revenue has increased by about 20 percent in the first six months. Tax […]
‘s Cabinet writes off Hyatt Regency in Hambantota
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved shifting four billion rupees allocated for the Hyatt Regency project in Hambantota to the Grand Hyatt project in Colombo, effectively completing the write off of the Hambantota project. “Although, 315 million rupees has been spent, constructions of the said hotel has not been commenced,” a […]
Sri Lanka wants 20 pct of consumers to produce solar power: Cabinet
Aug 18, 2016 (LBO) – Sri Lanka’s Cabinet has approved promoting solar power on the roofs of homes so that at least 20 percent of consumers produce electricity. “Currently 50 percent of electricity production in Sri Lanka is done by renewable energy sources and it is expected to increase this percentage to 60 percent in […]
Ceylon Chamber calls for private sector input on FTAs
Aug 18, 2016 (LBO) – With the Sri Lankan government working towards a series of Free Trade Agreements (FTAs), the Ceylon Chamber of Commerce has called for companies to submit substantive inputs on trade policy matters. With these inputs the private sector can “strengthen its representations with trade negotiators,” the Ceylon Chamber said in a […]
Asia stocks rise, dollar falls as Fed minutes cool rate hike views
TOKYO, Aug 18 (Reuters) – Asian stocks edged up early on Thursday and the dollar fell after the Federal Reserve’s latest meeting minutes showed policymakers were in no hurry to add to U.S. borrowing costs. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, thanks to hopes that the Fed’s accommodative stance – […]
Sri Lanka beat Australia by 163 runs to sweep series
Aug 17, 2016 (Reuters) – Sri Lanka beat Australia by 163 runs in the final test in Colombo on Wednesday to complete a 3-0 sweep in the three-match series. Chasing 324 for victory, Australia were all out for 160 half-an-hour before the tea break, succumbing to their third successive defeat against the hosts.David Warner top-scored for […]
Sri Lanka’s Amana Takaful Life to list on Thursday
Aug 16, 2016 (LBO) – The shares of Amana Takaful Life Limited will be listed on the Colombo Stock Exchange on Thursday, the company said in a stock exchange filing. Accordingly, 50 million shares would be listed on the Diri Savi Board of the CSE and will be classified under Banks, Finance and Insurance sector. […]
Lamudi’s second real estate expo in Sri Lanka next month
Real estate portal Lamudi Lanka announces the dawn of its second Real Estate Expo next month. A range of presenters and exhibitors will showcase Sri Lanka’s best property and home services to buyers, sellers, renters and investors. The Expo will take place on the 23rd and 24th of September at the North Lawn, Taj Samudra […]
GAAM: Foreign inflow of Rs535 Mln for the week
The Guardian Acuity Asset Management weekly can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/Weekly-Report-GAAM-13-08-161.pdf” title=”Weekly Report GAAM 13 08 16(1)”]
Sri Lankan rupee trades steady; state bank buying offsets exporter dollar sales
COLOMBO, Aug 16 (Reuters) – The Sri Lankan rupee was steady on Tuesday as dollar sales by exporters were offset by demand for the U.S. currency by banks, dealers said. The spot rupee was at 145.50/55 per dollar at 0607 GMT, same as Monday’s close. “The exporter (dollar) sales are there. But rupee is steady […]
Education Minister visits S Korea to strengthen cooperation
Minister of Education of Sri Lanka Akila Viraj Kariyawasam met with Korean Deputy Prime Minister and Minister of Education Lee Joon Sik, and the President of the Korea International Cooperation Agency (KOICA) In Shik Kim, on 21 and 22 July 2016 in Seoul. Discussions focused on Korea’s continuing cooperation in the fields of ICT development […]
Sri Lanka’s LOLC June net up 26-pct amid growing incomes
Aug 16, 2016 (LBO) – Sri Lanka’s LOLC group, which has interests in financial services, insurance, plantations, trading and leisure, said net profit for the June quarter rose 26 percent to 2.3 billion rupees. The group reported basic earnings of 4.92 rupees per share for the quarter up from 3.89 from a year earlier, on […]