Author: lbostgadmin
Sri Lanka’s stock exchange adopts global classification standard
Dec 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said it is adopting the Global Industry Classification Standard (GICS) to classify its listed companies along with S&P/CSE cobranded sector indices. The Global Industry Classification Standard (GICS®) was jointly developed by Standard & Poor’s and MSCI Barra to meet the global financial community’s need […]
Sri Lanka stocks close up 0.3-pct
Dec 03, 2015 (LBO) – Sri Lankan stocks closed up at 0.26 percent after sixth straight day of losses backed by gains in index heavy and some banking sector stocks, brokers said. The Colombo benchmark All Share Price Index closed up 17,87 points at 6,880.66 up 0.26 percent. S&P SL20 closed 9.93 points higher at 3,647.68 […]
PTL Watch: Bond yields tick up 5bp on profit taking
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Dialog Axiata says no agreement to
Dec 03, 2015 (LBO) – Sri Lanka’s fixed and mobile telco operator Dialog Axiata said on Thursday that it has not entered into an agreement with any party to merge or acquire Airtel.“Dialog has been a consistent proponent of market consolidation and in the normal course of business evaluates opportunities, both organic and inorganic, to […]
China sponsors Sri Lanka’s cataract surgery campaign with Rs8mn
The gift of improved sight is to be bestowed on 150 Sri Lankans under a new community initiative announced in Colombo by the China Merchants Group (CMG), the major stakeholder in Colombo International Container Terminals (CICT) which manages Colombo’s third container terminal. A Memorandum of Understanding ratified by the China Merchant Charity Foundation, the Corporate […]
Sri Lanka eyes international events to attract tourists: Tourism Chairman
Dec 03, 2015 (LBO) – Sri Lanka Tourism is currently looking at international level entertainment and sports events to attract more tourists to the island nation, Tourism Development Authority said.The 2016 budget granted a 50 percent tax holiday for 5 years for companies incorporated specifically to engage in conferencing and exhibition type of activities.“We are […]
Sri Lanka PM calls on middle class to invest in stock market
Dec 03, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickramasinghe said that the island’s mid income earners should be confident and not afraid to invest in the Colombo Stock Exchange.“The middle class must have a bigger stake in the shareholding in this country,” he said. “Over the last five years, there has been a […]
We are in ‘Nonagathaya,’ New Year is on the way: Prime Minister
Dec 03, 2015 (LBO) – Sri Lanka is still in the period of making strategies to move forward and the country might have to generate additional revenue next year to pay contingent liabilities, Prime Minister Ranil Wickremesinghe said.“The budget is very much like a Sinhalese new year. Before the New Year comes you give a […]
Sri Lanka state sector asked to generate revenue for national economy: PM
Dec 03, 2015 (LBO) – Sri Lanka’s state-owned enterprises have to perform better towards contributing to the national economy, Prime Minister Ranil Wickremesinghe said.“Our first focus is on the state enterprise and we will ensure that there is better performance in the state enterprises in the coming few years,” he said. “We are keeping the […]
Fireside chat with Kris Canekeratne, Chairman and Chief Executive Officer of Virtusa Corporation
Kris Canekeratne, Chairman and the Chief Executive Officer of Virtusa Corporation speaks to Lakshaman Bandaranayake, Founding publisher of LBO on the recent acquisition of Polaris by Virtusa. Virtusa Corporation is a NASDAQ listed global information technology services company providing IT consulting, technology and outsourcing services to Fortune 500 companies.
Sri Lanka’s 2016 budget passed with a majority of 107 votes
Dec 02, 2015 (LBO) – Sri Lanka parliament on Wednesday passed the second reading of the Appropriation Bill for next year by a majority of 107 votes. The 2016 budget passed with 159 members of the parliament voting in favor and 52 opposing it and 13 absent. UNP and TNA voted in favor of the […]
Sri Lanka Treasuries yields fall
Dec 02, 2015 (LBO) – Sri Lanka’s 6-month Treasuries yields fell 10 basis points to 6.30 percent at Wednesday’s auction, data from the state debt office showed.The 12-month yield fell six basis points to 6.86 percent while the three-month yield was down 38 basis points to 6.06 percent. The debt office offered 6 billion worth […]