Author: lbostgadmin
Sri Lanka’s CSE approves Rs.750mn Peoples Insurance IPO
Nov 23 (LBO) – Sri Lanka’s People’s Insurance, a fully owned subsidiary of People’s Leasing and Finance will be listed on the Colombo Stock Exchange through issuing offer 50 million shares, a statement said. “Through the Initial Public Offering, People’s Insurance will offer 50 million shares at 15 rupees each with the total value being […]
Mangala welcomes Samantha Power, US permanent representative to UN
Remarks to Media by Hon. Mangala Samaraweera, Minister of Foreign Affairs following talks with H.E. Ambassador Samantha Powers, Permanent Representative of the USA to the United Nations Ministry of Foreign Affairs. 21st November 2015 Good evening ladies and gentlemen. It has been an honour and a privilege today to welcome Ambassador Samantha Power to this historic Republic […]
Budget 2016 Big, Bold and Progressive: Lanka Securities
Nov 22, 2015 (LBO) – Lanka Securities Research has released their preliminary assessment of the budget proposals with its impact on the listed companies.Reproduce below is the report. [pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/11/Budget-2016-Big-Bold-and-Progressive.pdf%22]
Chamber welcomes Budget as Investment and Development Oriented
Nov 22, 2015 (LBO) – The Ceylon Chamber of Commerce has welcomed the Budget 2016 for its measures to boost private investment and promote inclusive economic growth. The statement is reproduced below. Budget 2016 has shown a commitment to enhancing private sector participation in the economy through PPPs, begin to rationalise state expenditure, undertake some […]
Banks to cease leasing from June, charges on cash withdrawal: Budget 2016
Nov 20, 2015 (LBO) – Sri Lanka’s banks have been asked to cease leasing activities from 01st of June next year while pawning should be limited to five percent of total loan portfolio, Finance Minister Ravi Karunanayake said in Parliament. “Honourable Speaker, I propose that licensed banks should concentrate on their core banking activities,” Karunanayake […]
Sri Lanka to allow tea imports within regulatory framework: Fin Min
Nov 20, 2015 (LBO) – Sri Lanka plans to liberalize the tea industry through allowing tea to be imported into the country within a regulatory framework, Finance Minister Ravi Karunanayake said delivering the budget 2016 speech at the Parliament. “Tea has remained a key export of our country but the value addition is not as significant […]
Budget 2016 Coverage – Proposals and Full Speech
Nov 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake commences the 2016 budget speech in Parliament. Key points: Proposals Micro, small and medium enterprises – Micro, small and medium enterprises find it hard to raise equity and debt financing with reluctance of financial institutions to lend to them. Advisory committee to develop SME […]
PTL Watch: Lower foreign holding for bonds in budget
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Lack of direct competition between Sri Lanka ports an issue: Eran
Nov 20, 2015 (LBO) – Sri Lanka must explore the issue that led to the inadequate direct competition of Ports Authority controlled ports, a deputy minister said. Delivering the keynote speech at the CILT International Conference 2015, Deputy Minister of State Owned Enterprises Eran Wickramaratne said direct competition is a critical factor for efficiency.“Lack of […]
Sri Lanka to increase bursary payment for university students
Nov 20, 2015 (LBO) – Sri Lanka’s Higher Education and Highways Ministry has taken steps to minimize the gap between Mahapola Scholarship holders and bursary payment holders by increasing the monthly bursary payment from 2,500 rupees to 4,000 rupees to enable university students to continue their studies without any economic difficulties, media spokesman said. Approximately, […]
Security tightened in major European cities
Nov 20, 2015 (LBO) – Security has been tightened in major cities in Europe with police in Italy and Sweden looking for suspected militants and increasing security around public buildings, media reports said.Swedish police arrested a man suspected of planning an attack, while Italy’s foreign minister said St.Peter’s Basilica in Rome or the cathedral or […]