Author: lbostgadmin
Sri Lanka has over Rs 300bn unpaid road develpment bills: “We are in a major mess”: Kabir Hashim
Apr 02, 2015 (LBO) – Sri Lanka’s Minister of Highways and Investment Promotion says, the government has over 300 billion rupees of bills to be paid for unsolicited proposals and contracts without agreements for roads building. “That’s a colossal amount,” Kabir Hashim, Minister of Investment Promotion and Highways told reporters at a press conference held […]
Sri Lanka stocks close up 0.5-pct
Apr 02, 2015 (LBO) – Sri Lanka’s stocks closed higher for the third consecutive day with Access Engineering gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 32.06 points higher at 6,948.14 up 0.46 per cent. The S&P SL20 closed 8.91 points higher at 3,909.58 up 0.23 per cent. […]
Sri Lanka is dreaming of Singapore and living in Ethiopia: Finance Minister
Apr 02, 2015 (LBO) – Sri Lanka’s Finance Minister says even though the customs department started 24 seven operations last month, the service has not been used to the maximum by the importers and exporters, which is like dreaming of Singapour and living in Ethiopia.“We have brought Singapore access through the Customs extending their services […]
”” rating:Fitch
Apr 02, 2015 (LBO) – Sri Lanka’s Amana Bank PLC’s has been rated at ‘BB(lka), National Long-Term Rating ‘ with a Stable Outlook, Fitch rating said. KEY RATING DRIVERS Amana’s rating reflects its small and developing domestic franchise, and limited track record. The bank started operations in 2011 as a Sharia-compliant bank and accounted for […]
Sri Lanka should look at regional trade and be less Europe centric: Official
Apr 02, 2015 (LBO) – Sri Lanka should look at diversifying its export market from its Europe centric and north American trade habits and move towards exploring a more lucrative regional export markets, a senior official said. “That Europe centrist approach is still there in Sri Lanka, simply because it is the number one market […]
Sri Lanka to attract more Chinese tourists
Apr 02, 2015 (LBO) – Sri Lanka plans to attract more Chinese tourists through a recently launched marketing strategy by Sri Lanka Tourism with a private- public partnership focusing only on China. “If we can build the new markets in china like Sichuan province which has 90 million people including two million who travel overseas […]
Sri Lanka’s BOI Chief says paperless operation reduces malpractices
Apr 01, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) Chief said, recently introduced electronic commerce or paperless operations helps to reduce malpractices in work place.Upul Jayasuriya , chairman of the Board of Investment of Sri Lanka was quoted as saying, that he was favourable to the paperless operations by introducing advanced Information Technology […]
Sri Lanka stocks close up 1.4-pct; JKH rings the opening bell
Apr 01, 2015 (LBO) – Sri Lanka’s stocks closed higher for the second consecutive day with telco and tobacco stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 95.74 points higher at 6,916.08, up 1.40 percent. The S&P SL20 closed 48.24 points higher at 3,900.67, up 1.25 percent. […]
Sri Lanka asked to set up an industrial zones by China: Port City is not enough
Apr 01, 2015 (LBO) – Sri Lanka asked to set up an industrial zone with the partnership of China since the Chinese funded port city only will not help developing the Island, Yi Xianliang, ambassador of the People’s Republic of China to Sri Lanka was quoted as saying in a media release. He also hinted […]
‘s E.B Creasy acquires Lanka Special Steels ltd
Apr 01, 2015 (LBO) – Sri Lanka’s E.B Creasy has acquired full stake of Lanka Special Steels ltd on Tuesday, the company said in a stock exchange filing.E.B Creasy which has interests in logistics and manufacturing has purchased 2.5 million ordinary shares of Lanka Special Steels ltd from Tata Steel ltd for 433 million rupees.Lanka […]
Sri Lanka to get EXIM bank India’s US$500mn green bond support for green projects
Apr 01, 2015 (LBO) – The Export-Import Bank of India, India’s export finance institution, is planning to support Sri Lanka through its recently launched 5 year “Green Bond” issue of 500 million US dollars, the bank said in a statement. The issue attracted subscription of around 3.2 times which was led by strong demand, across […]
Sri Lanka’s economy should be driven through investment and FDI: Eran Wickramaratne
Apr 01, 2015 (LBO) – Sri Lanka’s new government plans to drive the economy forward through investment and foreign direct investment (FDI) unlike the previous regimes strategy of public investment and foreign debt, deputy Minister of highways, higher education and investments promotions, Eran Wickramaratne said. “Clearly our government’s view is that the future of this […]