Author: lbostgadmin
Commercial Credit Debenture Issue oversubscribed on opening day
Dec 07, 2015 (LBO) – Sri Lanka’s Commercial Credit and Finance PLC’s issue of up to 20 million rated, guaranteed, subordinated, redeemable five-year Debentures at a par value of 100 rupees each was oversubscribed soon after subscriptions were opened on Wednesday, the 3rd of December 2015, the company said in a media release. Accordingly the company […]
Beware of fake LinkedIn profiles: Symantec
Dec 07, 2015 (LBO) – Global security software giant Symantec calls the users of LinkedIn to be skeptical when using the service as incidents involving fake LinkedIn accounts are on the rise.Boasting over 400 million users, the Business-oriented social networking service, is a prime target for scammers looking to connect with professionals in a variety […]
CSE sets mandatory rules on Related Party Transactions
Dec 07, 2015 (LBO) – The Colombo Stock exchange has mandated the rules relating to Related Party Transactions by all Listed Companies from 01 January 2016.Accordingly, section 9 of the CSE Listing Rules set out the relevant rules applicable in the event a listed entity enters into a related party transaction. The salient features of […]
” mistakes in logistics, transport: CILT
Dec 07, 2015 (LBO) – Sri Lanka’s budget proposals for 2016 repeat many of the mistakes in previous budgets in the areas of logistics and transportation, the Chartered Institute of Logistics and Transportation says in its budget analysis. The institute said the “over-zealous” attitude to improve the road network is likely to continue with projects […]
Govt planning to list catering unit of SriLankan Airlines
Nov 07, 2015 (LBO) – Sri Lanka’s government is planning to list a minority stake of 30 percent to 49 percent of Sri Lankan Catering, a fully owned subsidiary of state owned SriLankan Airlines, a media report said. This will be through a competitive, open bidding process, the report said quoting sources. The company, the […]
Sri Lanka’s CSE eyes more global investors through new CCP
Dec 07, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) is aiming for more international investors by introducing a new risk management system through establishing a Central Counter Party (CCP) system, a senior official said.“We need to manage the risk of the CSE – this is an area that we are lacking in,” Vajira […]
Op-Ed on Sri Lanka Budget – Is Sri Lanka’s Fiscal House in Order?
(Todd Schneider is the head of IMF’s staff missions to Sri Lanka) By Todd Schneider Constructing a good budget is like building a good house. The foundation needs to be solid, high-quality materials make a big difference to durability, and careful craftsmanship will bring both stability and confidence to weather future storms. Similarly, budgets needed […]
Two individuals arrested over misuse of funds at SEC: Police
Nov 04, 2015 (LBO) – Sri Lanka’s Criminal Investigations Division has arrested two individuals, including a Securities and Exchange Commission (SEC) official, over the misuse of funds in 2013, the Police Spokesman said.The investigation is into financial irregularities of 5 million rupees from 2013 involving the Tharunyata Hetak Fund.In May, the CID questioned several officials […]
Don’t risk national security due to antipathy towards me: MR
(Text of the speech made by former President Mahinda Rajapaksa in Parliament on Friday 4 December 2015.) Hon. Speaker, In 2009, we militarily defeated the LTTE which had been officially named by the US Federal Bureau of investigation as the deadliest terrorist organisation in the world. Though we had defeated the military machine of the […]
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Dec 04, 2015 (LBO) – Continued GDP growth is driving the stable outlook for Sri Lanka’s banking system, Moody’s Investors Service said. “While seeing some slowdown compared to the growth rates seen in 2013-14, GDP growth in Sri Lanka should remain healthy at 6.7% over 2015-16. And an accommodative monetary policy should support this growth outlook,” says Srikanth Vadlamani, […]
Sri Lanka stocks close down 0.2-pct: Net foreign outflow
Dec 04, 2015 (LBO) – Sri Lankan stocks closed down 0.16 percent with losses in index heavy stocks amid low investor activity, brokers said. The Colombo benchmark All Share Price Index closed down 11.10 points at 6,869.56 down 0.16 percent. S&P SL20 closed 7.54 points lower at 3,638.56 down 0.21 percent. Turnover was low at […]
Sri Lanka equity earnings down 6 pct in Q3 on diversifieds, telcos: CT CLSA
Dec 04, 2015 (LBO) – Sri Lanka equity market earnings declined 6 percent in the third quarter of this year largely due to lower earnings in diversified and telecommunications sectors, CT CLSA said in a research report. A slowdown in banking, finance and insurance added to this performance, the securities firm said. On a twelve-month […]