Author: lbostgadmin
President Maithri and UNP is a good combination: Karu Jayasooriya
Aug 12, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena’s policy manifesto goes hand in hand with the United National Party’s election manifesto, chairman of the Leadership Council of the United National Party, Karu Jayasuriya said.“On the 8th of January people have voted us for a 100 day mandate to clean up the system, to […]
Sri Lanka’s six and twelve months Treasury bill yields up
Aug 12, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Wednesday’s auction with the 12-month yield up 09 basis points to close at 6.63 percent, data from the state debt office showed.6-month yield was up 07 basis points to close at 6.57 percent. The debt office of the Central Bank has not […]
Sri Lanka should export or should be ready to perish: Harsha De Silva
Aug 12, 2015 (LBO) – Sri Lanka has no way to sustain economic growth without exploring the international market and export more value added innovative products and services, Deputy Economic Policy Minister Harsha de Silva said.“We have messed up our priorities. Either we export or perish,” de Silva said. “That is the simple factor. We […]
Sri Lanka PM says SLFP MPs to hold talks over ministerial posts with President after polls
Aug 12, 2015 (LBO) – The United National Party led government may have to offer ministerial portfolios to SLFP Parliamentarians who support them to form a new government, Prime Minister Ranil Wickramasinghe said.In an exclusive interview with a local TV station Wickramasinghe revealed the current situation.“Even now, some candidates keep telling that they will take […]
Sri Lanka’s Nestlé unit net up 33-pct with revenue increase
Aug 12, 2015 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 33 percent to 1.3 billion rupees in the June 2015 quarter from a year earlier. The firm reported earnings of 24.18 rupees per share for the quarter against 18.16 rupees reported a year earlier. In the six months […]
Sri Lanka’s Fitch affirms ratings of seven Finance Companies
Aug 11, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the ratings of People’s Leasing and Finance, Central Finance Company, Melsta Regal Finance, Siyapatha Finance, Senkadagala Finance, AMW Capital Leasing And Finance and Singer Finance. The full text of the announcement is reproduced below. Fitch Ratings-Colombo/Singapore-11 August 2015: Fitch Ratings has affirmed the ratings […]
Sri Lanka needs reforms to bloated govt sector to drive growth: Eran
Aug 11, 2015 (LBO) – Sri Lanka’s bloated state sector, which comprises 1.5 million employees who are paid from ordinary people’s money, needs reforms to drive growth, a minister said.“The problem in this county is not with the institutions, but with the human resources,” Deputy Minister of Highways, Higher Education and Investment Promotion, Eran Wickramaratne […]
Aitken Spence updates plans for tourism sector
Aug 11, 2015 (LBO) – Sri Lanka’s diversified conglomerate Aitken Spence recently disclosed their future plans with regard to one of their core segments, the tourism sector.Aitken Spence has several large resort construction projects taking place in Negombo, Kalutara and Ahungalla that are expected to add around 750 rooms to the sector. Aitken Spence Deputy […]
Sri Lanka stocks close up 1.2-pct
Aug 11, 2015 (LBO) – Sri Lanka’s stocks closed up 1.20 percent on Tuesday, with gains seen across the board on hopes of political stability after the August 17 parliamentary elections and better corporate earnings in the April-June quarter, brokers said. The Colombo benchmark All Share Price Index closed 88.87 points higher at 7,466.81 up […]
Sri Lanka gets Rs.26bn JICA loan to uplift national power grid
Aug 11, 2015 (LBO) – Sri Lanka’s government will get a 26 billion rupee concessional loan from the Japanese government through the Japan International Cooperation Agency, JICA to develop its national power transmission and distribution network, a statment said.The agreement was signed, Tuesday on behalf of the Sri Lankan govenment by R.H.S. Samarathunga, secretary, Ministry […]
China devalues yuan by 1.9 pct against dollar
Aug 11, 2015 (LBO) – Calling it a one-time fix, China’s central bank devalued its tightly-controlled currency, the yuan, by 1.9 percent on Tuesday. The midpoint for the yuan is now set at 6.2298 against the dollar, compared with 6.1162 yuan on Monday, the lowest rate for the yuan against the US dollar in almost […]