Author: lbostgadmin
Sri Lanka to abolish vehicle permit schemes, Rs40bn loss per year: Ravi K
Nov 24, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake has proposed to end the tax-free vehicles given to state workers and elected ruling class as it has generated a 40 billion revenue loss per year to the government. Public servants and government officials were offered tax cuts to purchase vehicles of their choice, […]
No need to raise interest rates, seek IMF funding: CB Governor
Nov 24, 2015 (LBO) – Sri Lanka has no need to raise interest rates at the moment given the loose monetary policy being followed in regional countries such as India, Central Bank Governor Arjun Mahendran said.He was speaking at a post-budget forum organized by HSBC. Although credit growth to the private sector was high it […]
Exporters support budget 2016, call it export friendly
Nov 24, 2015 (LBO) – The Exporters’ Association of Sri Lanka pledges its unstinted support and co-operation to the budget 2016 saying it is an exporter friendly budget. The full statement by the Exporters Association reproduced below :- The Exporters’ Association of Sri Lanka which functions under the aegis of the Ceylon Chamber of Commerce […]
Sri Lanka’s change is inspiring, says Samantha Power
Nov 23, 2015 (LBO) – US Permanent Representative to the UN, Ambassador Samantha Power says she was inspired after seeing the change that has been taking place during a short period of time.Ambassador Power met Sri Lankan Youth Monday afternoon for a brief discussion and revealed her intention of the visit.“I came here to support […]
Sri Lanka inflation at 3.0-pct in October
Nov 23, 2015 (LBO) – Sri Lanka’s consumer prices rose 3.0 percent in the 12-months to October from a year earlier, from the 1.9 percent a month earlier, data from the state statistics office showed. Year on year inflation of Food Group has increased from 1.1 percent in September 2015 to 2.3 percent in October […]
Sri Lanka stocks close up 0.5-pct: Budget gains
Nov 23, 2015 (LBO) – Sri Lankan stocks closed up at 0.55 percent on Friday with John Keells Holdings and other index heavy stocks showing gains following last Friday’s budget, brokers said. The Colombo benchmark All Share Price Index closed up 38.40 points at 7,055.84 up 0.55 percent. S&P SL20 closed 8.61 points higher at […]
President plants ‘Na’ tree at Westminster House
President Maithripala Sirisena planted a Na tree in the garden of the official residence of the British High Commissioner (Westminster House). The event was to mark President Sirisena’s last week as Commonwealth Chair-in-Office before he departs for CHOGM 2015 in Malta. President Sirisena and High Commissioner James Dauris met to discuss this week’s Commonwealth Heads […]
PTL Watch: Yields up, thin trade ahead of monetary meeting
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Sri Lanka budget has reformist agenda: CT CLSA
Nov 23, 2015 (LBO) – The 2016 budget can be termed as a reformist agenda, that looks to address short-term risks to the economy while setting up Sri Lanka for the long run, CT CLSA Securities said in a report on the budget. "Being used to budget speeches that were extremely populist, or included implausible […]
Fitch maintains negative outlook for Sri Lanka’s telecom sector
Nov 23, 2015 (LBO) – Fitch Ratings will maintain a negative outlook for Sri Lanka’s telecom sector due to uncertainty over proposals to increase taxes, which are likely to lower profitability and increase leverage for telcos, if implemented, Fitch Ratings said. The full statement by Fitch is reproduced below: Fitch Ratings-Singapore/Colombo-22 November 2015: Fitch Ratings […]
Budget 2016 is forward looking: CSE Chairman
Nov 23, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange chief Vajira Kulathilake has said the budget 2016 is forward looking and praised tax breaks and other support given to the stock market. The full statement is reproduced below :- It is admirable to note the support extended to the capital market of Sri Lanka […]
Sri Lanka to sell Lanka Hospitals, Colombo Hilton, Hyatt, Waters Edge and Mobitel on CSE
Nov 23, 2015 (LBO) – Sri Lanka’s government plans to sell some of state-owned non strategic investments on the Colombo Stock exchange to raise money to reduce debt, Finance Minister Ravi Karunanayake said delivering the 2016 budget in parliament. “The government is keen to streamline its portfolio of investments and will therefore exit partially or […]