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Sri Lanka Stock Market up 15-pct by April 2015: Report
July 08, 2015 (LBO) – Sri Lanka’s main stock index showed an increase of 15.3 percent by end April 2015 in comparison to the same period last year, a recent Finance Ministry report said. “All Share Price Index (ASPI) reached 7,179 by end of April 2015, which is an increase of 15.3 percent in comparison […]
Sri Lanka tea faces challenges due to other beverages, climate and wages: Study
July 08, 2015 (LBO) – Competition from other beverages, climatic changes and worker wages are the key issues global tea industry is facing including Sri Lanka, a recent study has showed. “The study points out that the tea industry will have to fight it out to sustain or grow its share with strong competition coming […]
“MSM India” gets Indian tour commercial rights: Sri Lanka Cricket
July 08, 2015 (LBO) – Sri Lanka Cricket has awarded the commercial rights of the upcoming Indian Test tour to the owner of the popular Asian sports channel “Sony Six”, a media release said.“MSM were granted global TV broadcast rights along with radio, internet and mobile rights for the territory outside Sri Lanka,” Sri Lanka […]
“MR getting nominations will help UNP to win” former deputy Minister
July 07, 2015 (LBO) – Sri Lanka’s former President, Mahinda Rajapaksa obtaining nomination for the general election will help the United National Party win more votes, a former deputy Minister said. “Mahinda Rajapaksa getting nomination and contesting the August general elections will only be an added advantage for the UNP to win more votes,” Ajith […]
Sri Lanka COPE didn’t meet bond report deadline,COPE Chief presented his own document: PM
July 7, 2015 (LBO) –Sri Lanka’s Prime Minister Ranil Wickramasinghe said that the inquiry into the Central Bank bond issue by the committee on public enterprises (COPE) did not report to the Parliament as directed by the Speaker but instead asked for more time which was granted. “You will recall that consequent to a motion […]
Sri Lanka stocks close down 0.3-pct on 12 week low
July 07, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.31 percent for the second consecutive day on a 12 week low with index heavy stocks showing losses, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 21.63 points lower at 6,967.78 down 0.31percent. The S&P SL20 closed 19.96 points lower […]
‘s CB governor says “I was not in the dealing room.”,rejects COPE allegations
July 7, 2015 (LBO) – Sri Lanka’s Central Bank Governor Arjuna Mahendran said that he never entered the tender board room where bids were assessed but gave instructions to accept bids of 10 billion rupees or more being in the corridor outside the Public Debt Department. He said while replying a reporter on the controversial […]
Sri Lanka’s Plantation association says adequate replanting rates maintained for tea and rubber
July 7, 2015 (LBO) – Sri Lanka’s Regional Plantation Companies (RPCs) say that they have maintained adequate replanting rates in the tea and rubber estates and increased crop production despite having only 59 percent of the workers and 82 percent of the crop bearing extent compared with the time of privatization in 1992. “The ‘Indenture […]
Central Bank appoints a new member for monetary board
July 7, 2015 (LBO) – Sri Lanka’s President Sirisena has appointed Chrishantha Priyange Richard Perera as a Member of the Monetary Board of the Central Bank of Sri Lanka with effect from June 24, 2015 in terms of Section 8(2) (c) of the Monetary Law Act. Perera has previously served as Chairman of the Sri […]
Asian stock markets back on track
July 07, 2015 (LBO) – Most of the Asian markets traded higher on Tuesday, following losses on Monday, foreign media reports said. Japan’s benchmark Nikkei 225 was up 1.4 percent to 20,389.47 in early trade while the euro also rebounded from Monday’s one week low to 1.1045 US dollars against the dollar. Hong Kong’s Hang […]
Sri Lanka call for more women in new parliament
July 07, 2015 (LBO) – Sri Lanka’s Women’s Affairs Ministry called on all political parties to allocate one third of seats in the new parliament for women. “At the forthcoming General Election all the political parties are urged to ensure that at least 30 percent of candidates they nominate for election are women,” Swarna Sumanasekera, […]
Central bank confident growth will pick up in 2Q; more private investments after election
July 7, 2015 (LBO) – Sri Lanka’s Central Bank says that more private sector investments would flow in to the country after the general election helping the island achieve seven percent economic growth in 2015. The Island’s economic growth for the first quarter of 2015 slowed to 6.4 percent compared to 7.6 percent in the […]