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‘s private sector being too risk averse: Finance Minister
Aug 03, 2016 (LBO) – Sri Lanka’s private sector is being too risk averse and now is the time to come forward with proposals, Finance Minister Ravi Karunanayake said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “We have to take greater risk than what we […]
Sri Lanka’s Port City developer withdraws compensation claims
Aug 02, 2016 (LBO) – Sri Lanka’s port city developer CHEC Port City Colombo, who is handling the project for the Chinese investor, China Communications Construction, has agreed to withdraw all compensation claims for losses incurred due to the suspension of the project. However, the cabinet has approved allocation of 2 hectares to them, without […]
‘s Pemandu CEO
Aug 02, 2016 (LBO) – Malaysia’s model for economic growth in recent years has been driven by a focus on implementation, delivery and execution, Dato Sri Idris Jala, the chief executive officer of Malaysia’s Performance Management and Delivery Unit, PEMANDU, said. He was speaking on Tuesday at the Sri Lanka Economic Summit 2016 organized by […]
Expectations of economic management not being met: Razeen Sally
Aug 02, 2016 (LBO) – After 18 months of Sri Lanka’s new administration, expectations that proper economic management would be in place are going unmet, Prof Razeen Sally said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “My sense is that those expectations have not been […]
‘s exports lagging in Asia: Governor
Aug 02, 2016 (LBO) – Sri Lanka’s exports, as a percent of GDP, fall far below other countries in the region, Central Bank Governor Indrajit Coomaraswamy said on Tuesday. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. Last year, exports as a percentage of GDP was […]
Sri Lanka’s Sampath Bank profits surge 54-pct in June quarter
Aug 02, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 54 percent to 2.5 billion rupees in the June quarter from a year earlier, interim accounts showed. The group reported earnings of 14.16 rupees for the quarter against 9.20 rupees per share for the same period last year. The share was […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Aug 02, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue listed unsecured rated redeemable subordinated debentures worth 5 billion rupees with an option to go up to 7 billion rupees. The […]
Sri Lanka in investor spotlight, as new era dawns: OBG
(PRESS RELEASE) – Sri Lanka’s plans to boost foreign direct investment through a raft of pro-business policies and incentives are mapped out in a landmark report just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG). The Report: Sri Lanka 2016 looks in detail at the government’s vision for boosting economic […]
Kia goes East with smart new Sales Centre
(PRESS RELEASE) – Kia Motors (Lanka) has opened its first Vehicle Sales Centre in Sri Lanka’s Eastern Province as part of the company’s on-going dealership development initiative. The new showroom, which will be operated as a franchise by M/s N.K.D. Ratnam and Co., an experienced player in the automobile trade, is located at 570, Trinco […]
Fitch affirms 10 Finance Companies; expects asset quality to deteriorate
Aug 02, 2016 (LBO) – Fitch Ratings has affirmed the ratings of 10 Finance Companies following its periodic review of the large and midsized finance companies in Sri Lanka. The 10 Finance Companies are People’s Leasing & Finance, Central Finance Company, Melsta Regal Finance, HNB Grameen Finance, LB Finance, Siyapatha Finance, Senkadagala Finance, AMW Capital Leasing And Finance, Singer Finance and Mercantile Investment & Finance. […]
SriLankan launch real-time card transactions for on-board duty free purchases
Passengers purchasing items from SriLankan Airlines’ ‘Serendib Treasures’ on-board duty-free collection will from August 1 enjoy enhanced convenience and purchasing power, thanks to a new electronic credit and debit card system developed in partnership with the Bank of Ceylon to provide real-time processing of transactions. Captain Suren Ratwatte, CEO of SriLankan Airlines, said: “At SriLankan […]
Esala Weerakoon appointed as new secretary of Foreign Ministry
Esala Weerakoon, member of the Sri Lanka Foreign Service batch of 1988 received his letter of appointment as the Secretary to the Ministry of Foreign Affairs, today 1st August 2016, from the Secretary to the President. He has served as High Commissioner to India and Ambassador to Norway. His foreign postings include assignments as Actg. […]