Author: lbostgadmin
Sri Lanka stocks close down 0.3-pct on 12 week low
July 07, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.31 percent for the second consecutive day on a 12 week low with index heavy stocks showing losses, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 21.63 points lower at 6,967.78 down 0.31percent. The S&P SL20 closed 19.96 points lower […]
‘s CB governor says “I was not in the dealing room.”,rejects COPE allegations
July 7, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that he never entered the tender board room where bids were assessed but gave instructions to accept bids of 10 billion rupees or more being in the corridor outside the Public Debt Department. He said while replying a reporter on the controversial […]
Sri Lanka’s Plantation association says adequate replanting rates maintained for tea and rubber
July 7, 2015 (LBO) – Sri Lanka’s Regional Plantation Companies (RPCs) say that they have maintained adequate replanting rates in the tea and rubber estates and increased crop production despite having only 59 percent of the workers and 82 percent of the crop bearing extent compared with the time of privatization in 1992. “The ‘Indenture […]
Central Bank appoints a new member for monetary board
July 7, 2015 (LBO) – Sri Lanka’s President Sirisena has appointed Chrishantha Priyange Richard Perera as a Member of the Monetary Board of the Central Bank of Sri Lanka with effect from June 24, 2015 in terms of Section 8(2) (c) of the Monetary Law Act. Perera has previously served as Chairman of the Sri […]
Asian stock markets back on track
July 07, 2015 (LBO) – Most of the Asian markets traded higher on Tuesday, following losses on Monday, foreign media reports said. Japan’s benchmark Nikkei 225 was up 1.4 percent to 20,389.47 in early trade while the euro also rebounded from Monday’s one week low to 1.1045 US dollars against the dollar. Hong Kong’s Hang […]
Sri Lanka call for more women in new parliament
July 07, 2015 (LBO) – Sri Lanka’s Women’s Affairs Ministry called on all political parties to allocate one third of seats in the new parliament for women. “At the forthcoming General Election all the political parties are urged to ensure that at least 30 percent of candidates they nominate for election are women,” Swarna Sumanasekera, […]
Central bank confident growth will pick up in 2Q; more private investments after election
July 7, 2015 (LBO) – Sri Lanka’s Central Bank says that more private sector investments would flow in to the country after the general election helping the island achieve seven percent economic growth in 2015. The Island’s economic growth for the first quarter of 2015 slowed to 6.4 percent compared to 7.6 percent in the […]
People’s Bank to make mandatory offer for People’s Merchant Finance shareholders
July 06, 2015 (LBO) – Sri Lanka People’s Bank and People’s Leasing and Finance is to make a mandatory offer to the remaining shareholders of People’s Merchant Finance following a joint share acquisition, People’s Bank said.People’s Bank and People’s Leasing and Finance on 03 July 2015 has acquired a total of 6,461,543 ordinary shares at […]
Sri Lanka’s Tamil and Muslim community says President owes victory to minorities: Survey
July 06, 2015 (LBO) – Sri Lanka’s Tamil and Muslim community are of the opinion that President Maithripala Sirisena owes his victory to the minority vote, a survey conducted by the Centre for Policy Alternatives showed. Around 55 percent of Sri Lankans agree with the submission that President owes his Presidential Election victory to the […]
Sri Lanka government foreign borrowings at Rs137bn; Rs316bn to borrow
July 06, 2015 (LBO) – Sri Lanka’s government has already borrowed 137 billion rupees and plans to borrow another 316 billion rupees before the end of this year, Dr.Harsha de Silva said. As per the revised budget approved by the Parliament this year, 258 billion rupees is to be raised through foreign borrowings and another […]
SriLankan Airlines, airberlin and NIKI codeshare mulls boost in tourism
July 6, 2015 (LBO) – SriLankan Airlines, airberlin the second largest airline in Germany and its subsidiary NIKI signed a new codeshare agreement recently, paving the way for increased tourism potential between Sri Lanka, Germany and Austria.“SriLankan Airlines is confident that our new codeshare with airberlin and NIKI will provide a much needed boost for […]
Ceylon Biscuits group chairman retires after 48 years of service
July 06, 2015 (LBO) – Sri Lanka’s biscuits manufacturing giant Ceylon Biscuits group said its Chairman Mineka P.Wickramasingha has been retired after 48 years at the helm of the organization he founded in 1968.At a recent Board meeting held on the 24 June 2015, the current Deputy Chairman, Ramya Wickramasingha was elected by the Board […]