Author: lbostgadmin
Sri Lanka to look at new exports in boat building, pharmaceuticals, IT/BPO: EDB
Aug 04, 2016 (LBO) – Sri Lanka is seeking to expand its export basket as it is essential that the island looks at export diversification and finds new markets, head of the state export promotion office said. Indira Malwatte, head of Sri Lanka’s Export Development Board, said boat building is one such avenue that is […]
CA Sri Lanka underscores importance of re-strategizing businesses
President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) Mr. Lasantha Wickremasinghe recently underscored the importance for companies to ‘redefine, re-strategize and modify ’ their business models which, according to him, will not only help ensure the long term success and sustenance of organisations, but will also contribute towards achieving the […]
‘s top Unit Trust award
Aug 04, 2016 (LBO) – JB Vantage Money Market Fund, part of the JB Financials Pvt Ltd, has won gold for best Unit Trust at the recently held CFA Sri Lanka Capital Markets awards 2016. “JB Vantage Value Equity Fund bagged the bronze in the same category, thereby dominating the category and underscoring their leadership […]
Nihal Fonseka appointed to Monetary Board
Aug 04, 2016 (LBO) – Veteran banker Nihal Fonseka has been appointed to the Monetary Board of the Central Bank of Sri Lanka. Fonseka has served as CEO of DFCC Bank and on several boards such as the National Payments Council and the Financial Systems Stability Consultative Committee of the Central Bank, the Strategic Enterprise […]
BoE rate call looms, Asian shares firm as oil rebounds for now
TOKYO, Aug 4 (Reuters) – Investors are counting on the Bank of England to cut interest rates to a record low 0.25 percent later on Thursday to support an economy that has slumped since the Brexit vote. The expected BoE cut would be the first since 2009 as Britain’s economy teeters on the brink of […]
Distilleries share swap gets court go ahead
Aug 03, 2016 (LBO) – Sri Lanka’s courts granted permission to shareholder of Distilleries Company for a plan to swap stock with Meltacorp Limited, a statement said. The company will call an Extra Ordinary General Meeting (EGM) on September 06, 2016 immidiately following its annual general meeting to get shareholder approval. After the swap, both […]
”AA- ( lka)(EXP)
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB; AA(lka)/Stable) proposed subordinated debentures of up to LKR7bn an expected National LongTerm Rating of ‘AA-(lka)(EXP)’. The debentures, which are to have tenors of five and 10 years and carry fixed and floating coupons, are to be listed on the Colombo Stock Exchange. CB expects to […]
New UN resident coordinator for Sri Lanka takes office
Una McCauley presented her credentials to Mangala Samaraweera, Minister of Foreign Affairs, as the new Resident Coordinator for the United Nations and the Resident Representative for UNDP in Sri Lanka today. As the most senior UN Official in the country, McCauley will lead the UN Country Team of 21 Resident and Non-Resident UN Agencies and […]
Sri Lanka to introduce Public Enterprise Act next month: Malik
Aug 03, 2016 (LBO) – Sri Lanka’s government is to introduce the Public Enterprise Act which facilitates the setting up of a Public Enterprise Development Board, a senior government minister said. This Public Enterprise Development Board will be chaired by a private sector individual. “This board consists of leading private sector CEOs and managers and […]
Opinion: Investing in an increasingly uncertain world
By Alexis Calla As savers and investors, most of us concern ourselves with the short-term. And these days, the short-term concerns have been keeping us quite busy. The impact of Britain’s momentous decision to leave the European Union, the testy US Presidential elections, major central banks’ seemingly incessant policy manoeuvres to forestall an economic hard […]
PTL Watch: Bond yields ease, further foreign buying
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/08/PTL-Daily-Market-Report-03rd-August-2016.pdf” title=”PTL Daily Market Report 03rd August 2016″]
Local, foreign insurers to get equal opportunities with new law
Aug 03, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to finalize the draft bill on Regulation of Insurance Industry Act by adding amendments that provide a level playing field for foreign and local insurance companies. In 2013, the cabinet granted approval to make several amendments to the Regulation of Insurance […]