Author: lbostgadmin
President arrives for historic climate change conference
Nov 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena arrived in France on Sunday to attend a world leaders’ conference on climate change, COP 21, a potentially historic meeting that could set limits on greenhouse gas emissions.More than 25,000 official delegates from 190 countries will meet on Monday for the largest conference ever organized […]
“Serious concerns” in Sri Lanka budget 2016: Former President
Nov 30, 2015 (LBO) – Sri Lanka’s former President Mahinda Rajapakse in a recent speech said that the new government’s maiden budget seeks to make certain radical changes which raise serious concerns. Rajapakse said that the gross fiscal irresponsibility displayed in the mini-budget earlier this year has continued in this budget as well and went […]
Sri Lanka’s Megapolis Master plan unveiling in Jan 2016
Nov 30, 2015 (LBO) – Sri Lanka’s government will unveil the ‘Master Plan’ it has developed to build Sri Lanka’s proposed ‘Western Region Megapolis’ during early January 2016, Minister Champika Ranawaka says.“The government is planning to adopt a four pronged strategy to build the ‘Megapolis’ which will be built within three phases running between the […]
Sri Lanka enters into Commonwealth trade finance for small states
Nov 30, 2015 (LBO) – Sri Lanka together with India, Malta and Mauritius have signed a declaration of intent to create a Commonwealth trade finance facility to boost trade and investment flows.The agreement was signed by the foreign ministers of the countries in Malta on November 26th.The voluntary fund hopes to attract start-up capital of […]
Mobitel considers strategic acquisition of local operator
Nov 28, 2015 (LBO) – Mobitel, a fully-owned unit of listed Sri Lanka Telecom, said it is considering a strategic acquisition of a local operator and denies reports that the company intends to pay over and above the value of the target entity. “Mobitel denies the assumptions and opinions made on the subject that Mobitel is […]
Stocks: Three reasons Euro area stocks are compelling
By Steve Brice The volatility in recent months shattered the relative calm that had prevailed in global financial markets for nearly four years. Almost all major equity markets corrected more than 10 per cent during the summer and many emerging markets entered a bear market. October’s rebound came as welcome relief, helping make up most […]
China stocks fall 5.4 pct on brokerage probes
Nov 27, 2015 (LBO) – China equities closed down 5.4 percent on Friday on the back of investigations by China’s securities regulatory body into brokerages for breaking regulations.The Shanghai Composite closed 5.48 percent lower. Chinese brokerages plunged with Citic Securities, Founder Securities, and China Merchants closing 10.1, 10, and 9.98 percent lower on news of […]
Sri Lanka removes casino entrance fee, but taxes tightened
Nov 27, 2015 (LBO) – Sri Lanka is to remove the casino entrance fee imposed in the last budget and plans to increase the annual levy imposed on the business of gaming, other than rujino, to 400 million rupees. “I also propose to amend the Finance Act to make directors and shareholders personally liable for […]
Sri Lanka stocks close lower 0.04-pct: Continued loses in JKH and banks
Nov 27, 2015 (LBO) – Sri Lankan stocks closed down at 0.04 percent on Friday with losses in John Keells Holdings and some banks, brokers said. The Colombo benchmark All Share Price Index closed down 2.59 points at 6,960.78 down 0.04 percent. S&P SL20 closed 6.31 points lower at 3,698.69 down 0.71 percent. Turnover was […]
PTL Watch: Bonds within 15 years actively taken
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Commercial Bank hosts capacity building programme for Eastern dairy farmers
A capacity building programme conducted by the Commercial Bank of Ceylon recently for dairy farmers of the Kokkadicholai area in the Eastern Province benefitted 150 people involved in the industry. Jointly organised by the Bank’s Agriculture and Micro Finance Unit (AMFU) in Kattankudy, its Regional office – Eastern and the Kattankudy branch, the programme was conducted with […]
Intercompany employees union opposes funding VCs through EPF, ETF
Nov 27, 2015 (LBO) – Sri Lanka’s Inter-company Employees Union on Thursday opposed a budget proposal to create a venture capital structure using EPF and ETF funds. 2016 budget proposed a venture capital approach for providing equity financing facilities to SMEs through the establishment of a fund termed by Finance Minister as a “Fund of […]