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Oct 21,2014 (LBO) – Sri Lanka Ceylon Chamber of Commerce plans to hold a post budget seminar to discuss the ‘National Budget of 2015’, which will be presented in Parliament on the 24thof October, 2014, chamber said in a media release. Top government officials, senior tax consultants and corporate executives have been lined up to […]
‘s Jetwing Hotels to manage Bansei Royal Resorts
Oct 20, 2014 (LBO) – Sri Lanka’s Bansei Royal Resorts has entered into a new management agreement with Jetwing Hotels to manage the hotels operationally, the company said in a stock exchange filing. New agreement will come into force from December this year as the previous agreement with Amaya Leisure was terminated from 01st October […]
Sri Lanka shares close down 0.3-pct
Oct 20, 2014 (LBO) – Sri Lanka’s shares closed lower starting the week on a negative note with Commercial Bank and Nestle Lanka contributing most to the index drop, brokers said. The Colombo benchmark All Share Price Index closed 21.02 points lower at 7,213.45, down 0.29 percent. The S&P SL20 closed 21.39 points lower at […]
Sri Lanka to establish a regulatory council to monitor issues in finance sector
Oct 20, 2014 (LBO) Sri Lanka’s cabinet of ministers had given approval to establish an Inter Regulatory Institutions Council with a view of identifying issues that require collective action by financial sector regulators.Establishment of the council plans to promote financial system stability and the development of the financial sector. Financial institutions include licensed banks, licensed […]
Sri Lanka to construct 537 rural bridges with an investment of US $162mn
Oct 20, 2014 (LBO) – Sri Lanka to construct and rehabilitate about 537 rural bridges with a credit facility of 162 million US dollars, provided by The Deutsche Bank AG (London) and the Bank of Tokyo-Mitsubishi UFG Ltd Finance ministry of Sri Lanka said. Added to that the ministry says the development of these bridges […]
New iPad
Oct 19, 2014 (LBO) – Apple introduced iPad Air 2 recently, which the company says the thinnest and most powerful iPad®. Media Statement by Apple CUPERTINO, California- Apple® introduced iPad Airâ„¢ 2, the thinnest and most powerful iPad® ever. Now just 6.1 mm thin and weighing less than a pound, iPad Air 2 features an […]
Sri Lanka stocks close down 0.31-pct
Oct 17, 2014 (LBO) – Sri Lanka’s indices closed lower Friday with banking and diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 22.60 points lower at 7,234.47, down 0.31 percent. The S&P SL20 closed 26.84 points lower at 4,029.55, down 0.66 percent. Turnover was 1.02 billion rupees, down from […]
Policy Rate
Oct 17, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent but said there is further room for banks to reduce lending rates, as inflation continued to be slow the Central Bank in its October monetary policy review. In nominal terms, most market interest rates are at historic […]
Sri Lanka stocks close down 0.44-pct
Oct 16, 2014 (LBO) – Sri Lanka’s indices closed in the red with telco and banking stocks losing ground despite strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 31.76 points lower at 7,257.07, down 0.44 percent. The S&P SL20 closed 8.45 points lower at 4,056.39, down 0.21 percent. Turnover was […]
Sri Lanka restricted foreign visits to North: Media Report
Oct 16, 2014 (LBO) – Sri Lanka yesterday announced that foreigners and foreign organizations who wish to visit the North need to obtain prior clearance from the Ministry of Defense and Urban Development, a media report said. The measure is aimed at preventing foreigners from visiting the North under the pretext of engaging in development […]
EXIM Malaysia sees expanding investments with Sri Lanka
Oct 16, 2014 (LBO) – Malaysian Export Import (EXIM) bank said that they are looking at opportunities in investing and helping with the rapid economic development in Sri Lanka. We are very much delighted to be here, Adissadikin Bin Ali, President and the Chief Executive of EXIM Bank Malaysia said. I have seen very impressive […]
Sri Lanka 12-month Treasuries up, other bids rejected
Oct 15, 2014 (LBO) – Sri Lanka’s 12-month Treasuries yield increased 11 basis points to 6.00 percent at Wednesday’s auction while the state debt office rejected bids for other maturities. The debt office which is a part of the island’s central bank has accepted 14.74 billion in 12-month treasury bills after offering 8.00 billion in […]