Author: lbostgadmin
Revolutionary ONE ACCOUNT powered by NDB Wealth
Expert financial planner NDB Wealth has taken a leadership role in promoting NDB Bank’s revolutionary ONE ACCOUNT initiative. NDB ONE ACCOUNT is initially offered solely at NDB Bank’s Nawam Mawatha Head Office in Colombo 02. An innovative way to deposit, save, invest, withdraw and build financial plans, all in one place, at one bank, the […]
Sri Lankan rupee forwards trade weaker on importer dollar demand
May 26 (Reuters) – Sri Lankan rupee forwards fell on Thursday due to importer dollar demand and amid apprehension the currency would weaken on a possible increase in government spending after the country’s worst natural disaster since 2004, dealers said. The cost of landslides and floods after days of torrential rains will be between $1.5 […]
PTL Watch: Sri Lanka bond yields dip 10-20 bps
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‘s agriculture to be modernized with World Bank funding
May 26, 2016 (LBO) – Sri Lanka’s cabinet has approved implementation of a five-year Agriculture Sector Modernization Project with 125 million US dollars granted by the International Development Agency of the World Bank. “It is necessary to implement policies that aim on improving the productivity of agriculture and to create high valued export agriculture for […]
European Union gives Rs.32.8mn for flood, landslide victims in Sri Lanka
May 26, 2016 (LBO) – The European Commission is providing 200,000 Euro (Rs. 32.8 million) in humanitarian funding to assist the most affected populations from floods and landslides in Sri Lanka. This aid will directly benefit 20,000 individuals who have been heavily impacted in five of the worst-hit districts in the country’s West, namely Colombo, Gampaha, […]
Possible misappropriation of Rights Issue funds in Blue Diamonds: E&Y
May 26, 2016 (LBO) – The Securities and Exchange Commission of Sri Lanka has been informed that several irregularities in Blue Diamonds may point to the possible misappropriation of Rights Issue funds. The Ernst & Young which conducted a special purpose independent audit on an agreed upon procedure has revealed the possible commission of one […]
‘t help finance companies: Murtaza
May 26, 2016 (LBO) – Sri Lanka’s government intervention in restricting banks from leasing vehicles would be disastrous for business confidence and further diminish the country’s ability to attract investment from both local and international investors, industry analyst said. The Finance Ministry wants to ban banks from leasing vehicles below 5 million rupees and similar […]
Ceylinco Life’s Life Fund crosses Rs 70 billion in 28 years
Ceylinco Life has announced that the company’s Life Fund crossed Rs 70 billion at end April 2016, making it the only local life insurer to achieve the feat in just 28 years. The country’s life insurance market leader said its Life Fund had grown by Rs 2.75 billion in just four months, enabling it to […]
Honesty and good communication skills are top traits for business leader – Regus Finding
Business people across the globe reported which key traits make a successful business leader and reveal that honesty and the ability to communicate with others are the must-haves in a successful leader’s arsenal. Almost 40,000 business people globally rated a number of qualities and traits to help sketch out the portrait of a good leader […]
Sri Lanka’s John Keells Holdings net down 13-pct in 4Q, revenues flat
May 26, 2016 (LBO) – Sri Lanka’s diversified John Keells Holdings group net profits fell 13 percent to 4.5 billion rupees in the March 2016 quarter from a year earlier with flat revenues, the interim accounts showed. The firm reported basic earnings of 3.80 rupees per share for the quarter against 4.58 rupees reported a year […]
Sri Lanka seeking to borrow USD3.5 bln through foreign debt: Finance Minister
May 25, 2016 (LBO) – Sri Lanka is in the process of borrowing up to 3.5 billion dollars from foreign sources via syndicated loans, sovereign bonds, and sukuk, the country’s finance minister said on Wednesday. The borrowing plan comes as the South Asian nation seeks to fix its precarious balance of payments position after a […]
Vehicle imports up 60-pct in 2015, 7-pct of total imports: CCC
May 25, 2016 (LBO) – Expenditure on motor vehicle imports to Sri Lanka has recorded a 60 percent growth last year compared to previous year, Ceylon Chamber vehicle market report showed. The annual publication which is now available for purchase showed that country’s expenditure on vehicle imports has accounted for 7 percent of the total […]