Author: lbostgadmin
Sri Lanka to strengthen economy despite global scenario: Ravi K
Sep 29, 2015 (LBO) – Sri Lanka’s finance minister Ravi Karunanayake said that the government would continue to strengthen the economy despite the current global situation.“I am ready to make a special statement on the fiscal situation of the country within the next couple of days,” Karunanayake said. “We will also explain how the emerging […]
ADB to triple lending for education in Sri Lanka
Sep 29, 2015 (LBO) – The Asian Development Bank says they will triple lending to one billion US dollars for education and will also help develop the islands capital markets.“In line with the governments initiative to increase spending on education to six percent of gross domestic product we plan to triple lending for education to […]
Private health care driven by aging population and rising income: Fitch
Sep 28, 2015 (LBO) – Sri Lanka’s private hospitals are poised for strong growth, with the rise ageing population and rising per capita income, a report said.“Nearly nine percent of the islands population are over 65 years of age and over at end 2014 and likely to double by 2030 and the public sector alone […]
US, next possible big source market for Sri Lanka Tourism– Analyst
Sep 29, 2015 (LBO) – Sri Lanka should attract more US tourists, making use of the geographical position of the island near to India, in which the US is the top key arrivals generator, an analyst said.“India can be the number one source market for Sri Lanka, because they are geographically located closer,” Shabori Das, […]
Sri Lanka’s tourism should integrate economy to drive growth: Hotelier
Sep 28, 2015 (LBO) – Sri Lanka’s tourism industry which is booming post-conflict should ideally integrate the economy in to the sector to drive sustainable tourism though economically viable products, an hotelier said. “In all our efforts we should strive to integrate the economy to the industry, so that we have authentic, sustainable tourism products […]
Sri Lanka sells 04, 06 and 13 year bonds; 13 year bond yields up
Sep 28, 2015 (LBO) – The issue of treasury bonds amounting to 13 billion rupees have been oversubscribed with 64 billion rupees of bids received from investors.The Central Bank has accepted 3.0 billion rupees of 04 year bonds maturing on 15 September 2019 at a weighted average yield rate of 9.50 percent. The bond auction […]
Free flow of information vital for financial markets: CB Governor
Sept 28, 2015 (LBO) – A free flow of information is vital for financial markets to grow, Sri Lanka’s Central Bank Governor Arjuna Mahendran told media on Monday. He was responding to a question posed by Lanka Business Online about concerns of market participants that they should censor information when dealing with the media. Some […]
Colombo Stock Exchange to transform into a sustainable stock exchange
Sep 28, 2015 (LBO) – The Colombo Stock Exchange is to be transformed into a sustainable stock exchange while enhancing corporate transparency on Environmental, Social, and corporate Governance (ESG) issues.CSE recently joined the United Nations Sustainable Stock Exchanges initiative, launched by UN Secretary General Ban Ki-moon in 2009.It aims to explore how exchanges can work […]
Sri Lanka stocks edge lower, turnover at five week high
Sep 28, 2015 (LBO) – Sri Lankan stocks closed down 0.45 percent on Monday with losses in some index heavy and banking stocks and low retail investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 32.16 points at7,078.64 lower 0.45 percent. S&P SL20 closed 22.79 points lower at 3,864.35 down 0.59 […]
No change in Australia’s policy against maritime people smuggling
Sep 28, 2015 (LBO) – Australian new government reaffirms that it committed to protect its borders and will continue to stop anyone who attempts to come illegally by boat. High Commissioner Robyn Mudie said that cooperation between Australia and Sri Lanka to counter people smuggling has never been stronger.He added that anyone who attempts to […]
Report of a spat with officials an exaggeration, says Governor
Sept 28, 2015 (LBO) – Sri Lanka’s Central Bank Governor said on Monday that a media report of a spat with senior officials over transfers that had proved controversial was a gross exaggeration. The report alleged that senior officials were holding a meeting when the heated discussion ensued. The transfers were part of a regular […]
Sri Lanka’s Fitch affirms Abans at BBB+, revises outlook to Stable
Fitch Ratings has affirmed Sri Lanka-based retailer Abans National Long-Term Rating at ‘BBB+(lka)’ and revised its Outlook to Stable from Negative. Fitch has also affirmed the National Long-Term Rating on Abans’ unsecured redeemable debentures at ‘BBB+(lka)’ and its outstanding commercial paper at National Short-Term Rating of ‘F2(lka)’. The Outlook revision reflects improvements in Abans’ net […]