Author: lbostgadmin
No more aircraft for Sri Lankan; reports not submitted: COPE
Aug, 10, 2016 (LBO) – The Committee on Public Enterprises (COPE) of Sri Lanka’s parliament has recommended that SriLankan airlines officials not to go ahead with the purchase of new aircraft while also calling them to submit several other reports on irregularities. “The transaction of purchasing new aircrafts without conducting a cost basis analysis should […]
Pakistan’s Air Chief meets Sri Lankan President
Aug 10, 2016 (LBO) – Pakistan’s Chief of Air Staff, Air Chief Marshal Sohail Aman called on President of Maithripala Sirisena at his official residence in Colombo on Tuesday. Pakistan’s Air Chief said that Pakistan and Sri Lanka are historically bonded in a relationship of trust, mutual respect and deep friendship. He added that the […]
Brandix bags 11 awards at Presidential Export Awards, ranked Sri Lanka’s top exporter in 2014 & 2015
(PRESS RELEASE) – The Brandix Group won a remarkable 11 awards including the Exporter of the Year awards for 2014 and 2015 at the Presidential Export Awards last evening, taking the top honours at this prestigious event conducted by the Export Development Board (EDB). The awards presented by President Maithripala Sirisena at the BMICH recognise […]
Asian shares near 1-year high, dollar slips after soft U.S. data
TOKYO, Aug 10 (Reuters) – Asian shares held near one-year highs on Wednesday as investors pared expectations slightly for a Federal Reserve interest rate increase following weak U.S. productivity data, which drove the dollar and Treasury yields lower. MSCI’s broadest index of Asia-Pacific shares excluding Japan rose 0.1 percent, staying near a one-year high hit […]
Sri Lanka Supreme Court blocks bill raising VAT
Aug 09, 2016 (LBO) – Sri Lanka’s Supreme Court has ordered parliament to stop considering a bill to raise value-added tax (VAT) because the drafting of the proposed legislation had not followed due process, the assembly speaker said on Tuesday. The failure to raise the tax could put in jeopardy the government’s ambitious fiscal consolidation […]
LOLC to issue USD150mn listed foreign currency bonds in Singapore
Aug 09, 2016 (LBO) – Sri Lanka’s LOLC is to issue and list 150 million US dollars worth foreign currency denominated notes and bonds on the Singapore Stock Exchange. Accordingly, the Company intends to establish a Multicurrency Medium Term Note programme on the Singapore Stock Exchange. “The Company has identified the issue of corporate notes/ […]
GAAM: Foreign inflow of Rs797 mln into Sri Lanka stocks last week
The Guardian Acuity Asset Management Limited (GAAM) weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/Weekly-Report-GAAM-06-08-161.pdf” title=”Weekly Report GAAM 06 08 16(1)”]
Sri Lanka exports fell 12-pct in May; trade gap widens 16-pct
Aug 09, 2016 (LBO) – Sri Lanka’s exports fell 12 percent to 776.3 million US dollars in May 2016, while imports rose 0.3 percent to 1,589.8 million US dollars from a year earlier, official data showed. The trade gap has widened 15.7 percent to 813.5 million US dollars from a year earlier. The subdued performance […]
COPE presents interim report; bond report in two weeks
Aug 09, 2016 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises has presented its summarized interim report for the first 3 months of this year in Parliament on Tuesday. Chairman of COPE, Parliamentarian Sunil Handunnetti said the report contains progress of 19 Public Enterprises and covers the period of January 26 to April 08 […]
Sri Lankan rupee trades steady; stocks little changed
Aug 09, 2016 (Reuters) – The Sri Lankan rupee traded steady on Tuesday as dollar demand by importers was offset by conversions of the U.S. currency from exporters amid concerns that price controls by the government could hurt imports, dealers said. Two Sri Lankan economists last week told a summit attended by President Maithripala Sirisena […]
PTL Watch: Yields tick higher, Rs4.75 bln turnover
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/08/PTL-Daily-Market-Report-09th-August-2016.pdf” title=”PTL Daily Market Report 09th August 2016″]
Sri Lanka’s Hela Clothing joins IFC’s trade supplier finance program
Aug 10, 2016 (LBO) – IFC, a member of the World Bank Group, has partnered with leading local apparel manufacturer Hela Clothing (Pvt) Limited to boost trade opportunities for Sri Lanka’s apparel industry through a trade-supplier finance facility. Hela Clothing is the latest apparel company in Sri Lanka to join IFC’s Global Trade-Supplier Finance program. […]