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Nihal Fonseka appointed to Monetary Board
Aug 04, 2016 (LBO) – Veteran banker Nihal Fonseka has been appointed to the Monetary Board of the Central Bank of Sri Lanka. Fonseka has served as CEO of DFCC Bank and on several boards such as the National Payments Council and the Financial Systems Stability Consultative Committee of the Central Bank, the Strategic Enterprise […]
BoE rate call looms, Asian shares firm as oil rebounds for now
TOKYO, Aug 4 (Reuters) – Investors are counting on the Bank of England to cut interest rates to a record low 0.25 percent later on Thursday to support an economy that has slumped since the Brexit vote. The expected BoE cut would be the first since 2009 as Britain’s economy teeters on the brink of […]
Distilleries share swap gets court go ahead
Aug 03, 2016 (LBO) – Sri Lanka’s courts granted permission to shareholder of Distilleries Company for a plan to swap stock with Meltacorp Limited, a statement said. The company will call an Extra Ordinary General Meeting (EGM) on September 06, 2016 immidiately following its annual general meeting to get shareholder approval. After the swap, both […]
”AA- ( lka)(EXP)
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB; AA(lka)/Stable) proposed subordinated debentures of up to LKR7bn an expected National LongTerm Rating of ‘AA-(lka)(EXP)’. The debentures, which are to have tenors of five and 10 years and carry fixed and floating coupons, are to be listed on the Colombo Stock Exchange. CB expects to […]
New UN resident coordinator for Sri Lanka takes office
Una McCauley presented her credentials to Mangala Samaraweera, Minister of Foreign Affairs, as the new Resident Coordinator for the United Nations and the Resident Representative for UNDP in Sri Lanka today. As the most senior UN Official in the country, McCauley will lead the UN Country Team of 21 Resident and Non-Resident UN Agencies and […]
Sri Lanka to introduce Public Enterprise Act next month: Malik
Aug 03, 2016 (LBO) – Sri Lanka’s government is to introduce the Public Enterprise Act which facilitates the setting up of a Public Enterprise Development Board, a senior government minister said. This Public Enterprise Development Board will be chaired by a private sector individual. “This board consists of leading private sector CEOs and managers and […]
Opinion: Investing in an increasingly uncertain world
By Alexis Calla As savers and investors, most of us concern ourselves with the short-term. And these days, the short-term concerns have been keeping us quite busy. The impact of Britain’s momentous decision to leave the European Union, the testy US Presidential elections, major central banks’ seemingly incessant policy manoeuvres to forestall an economic hard […]
PTL Watch: Bond yields ease, further foreign buying
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/08/PTL-Daily-Market-Report-03rd-August-2016.pdf” title=”PTL Daily Market Report 03rd August 2016″]
Local, foreign insurers to get equal opportunities with new law
Aug 03, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to finalize the draft bill on Regulation of Insurance Industry Act by adding amendments that provide a level playing field for foreign and local insurance companies. In 2013, the cabinet granted approval to make several amendments to the Regulation of Insurance […]
Minister of Foreign Affairs, Canada and UNDP inaugurate Jaffna’s only Siddha Medicine Center
(PRESS RELEASE) – Honourable Stéphane Dion, Minister of Foreign Affairs of the Government of Canada and Her Excellency Shelley Whiting, Canadian High Commissioner to Sri Lanka together with Lovita Ramguttee, UNDP Sri Lanka Deputy Country Director, visited a UNDP project site recently in Jaffna. During the Honorable Foreign Minister’s visit to Jaffna as part of his […]
Sri Lanka forging ahead with reforms for intra-Asia trade : PM
Aug 03, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the Unity Government action plan is to introduce a large database of products and large-scale economic reforms for infrastructure with the hope of becoming the economic hub of the Indian Ocean. He said the government is now going ahead with plans to ensure […]
Deputy Minister Harsha de Silva heads Sri Lanka Delegation at 23rd ASEAN Regional Forum
(PRESS RELEASE) – Deputy Foreign Minister, Dr. Harsha De Silva headed the Sri Lanka delegation at the 23rd ASEAN Regional Forum (ARF) held in Vientiane, Lao PDR on 26th July 2016. ARF is a Foreign Ministerial Meeting for security dialogue in the Asia-Pacific region and it seeks to promote regional development and prosperity. The ARF […]