Author: lbostgadmin
Sri Lanka’s Sampath Bank net up 69-pct in Sept quarter
Nov 17, 2015 (LBO) – Profits at Sri Lanka’s Sampath Bank group rose to 1.9 billion rupees in September quarter, up 69 percent from a year earlier, helped by other operating income, despite higher loan losses, interim accounts showed.The group reported earnings of 10.92 rupees for the quarter. For the nine months to September the […]
US firms await clear policy to invest in Sri Lanka
Nov 17, 2015 (LBO) – Many businesses from the United States are willing to invest in Sri Lanka but are waiting more clear and consistent economic policy from the government, the US Ambassador said at the opening of the US trade fair in Colombo, Tuesday. “American companies are looking for safe investment opportunities,” Atul Keshap, US Ambassador […]
Sri Lanka stocks close up 0.2-pct: Gains in blue chips
Nov 17, 2015 (LBO) – Sri Lankan stocks closed up at 0.17 percent on Tuesday recovering from its four month low due to price increases in some index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed up 11.97 points at 6,977.95 higher 0.17 percent. S&P SL20 closed 9.30 points higher at […]
PTL Watch: Yield curve ticks up in thin trade
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Lux reinforces its enduring power…
Unilever’s House of Lux, a celebration of the enduring power of Fine Fragrances and all that’s feminine saw a gathering of the elite including beauty queens, film stars, models, corporates and socialites at the Cinnamon Grand on 16th of November, when this iconic beauty brand once again revolutionized the way women experience fragrances, by infusing […]
Fitch assign Mercantile Investments and Finance BBB- rating
Fitch Ratings Lanka has assigned Mercantile Investments and Finance PLC (MIF) a National LongTerm Rating of ‘BBB-(lka)’. The Outlook is Stable. The agency has also assigned the company’s outstanding senior unsecured debentures a National LongTerm Rating of ‘BBB-(lka)’.KEY RATING DRIVERS NATIONAL RATINGS MIF’s rating reflects its modest franchise stemming from its long operating history, satisfactory capitalisation and loanbook exposure to less […]
Lifting fish export ban to EU needs further steps: EU Council
Nov 17, 2015 (LBO) – Sri Lanka’s ban on fishery exports to the EU could be lifted if further necessary steps are taken, the European Union Council said. Releasing council conclusions in a statement the Council commended the steps Sri Lanka has taken to comply with the regulations of the Indian Ocean Tuna Commission. “The […]
Lamudi identifies top gadgets to improve Sri Lankan real estate market
From drones to virtual reality, the impact of technology on the real estate industry is growing rapidly in Sri Lanka.The use of drones have helped high rise building developers provide buyers with a view of the city from each floor, even before construction has begun; virtual reality allows buyers to experience the inside of a […]
Govt intervention in Colombo tea auction detrimental to sector: Fitch
Nov 17, 2015 (LBO) – Sri Lanka’s government intervention into the Colombo tea auction will be detrimental to the sector as it will make Sri Lankan tea less competitive in a global market that is over-supplied, Fitch Ratings said. The Sri Lankan government in October 2015 allocated 1.0 billion rupees to purchase tea at the […]
Ceylon Chamber to host post budget seminar
The Ceylon Chamber of Commerce will hold its customary post national budget seminar on the 27th November, 2015 with the participation of a top panel, which will consist of high ranking officials from the Ministry of Finance and also taxation specialists. The event, which will be held at the Ceylon Chamber of Commerce auditorium will […]
‘s GSP+ application
Nov 17, 2015 (LBO) – The European Council has noted progress made by Sri Lanka on GSP+ criteria and supports renewed application, the institution representing the EU member states’ governments said in a statement. Sri Lanka intends to apply for tariff preferences provided under the special incentive arrangement for sustainable development and good governance (GSP+) […]
Innovation crucial for Sri Lanka’s future success: ex central banker
Nov 17, 2015 (LBO) – Sri Lanka’s ability to invent and innovate will be vital for economic development and developed country status, a former central banker says.“The future of Sri Lanka will depend on the development of science and technology and how we combine inventions with innovations;” W.A. Wijewardena, former deputy governor of the Central […]