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Sri Lanka Investment and Business Conclave 2016 to open
Mar 07, 2016 (LBO) – Sri Lanka Investment and Business Conclave 2016 organised by the Ceylon Chamber of Commerce will commence tomorrow in Colombo with the participation of 125 plus potential investors from 27 countries. Apart from them, 130 Sri Lankan executives representing top local firms will take part in the event in order to […]
Sri Lanka’s UNP and Communist Party of China to strengthen links
Mar 07, 2016 (LBO) – Sri Lanka’s ruling United National Party has initiated plans to deepen its relationships with the Communist Party of China (CPC), the Board of Investment said in a media release. The statement came after the Chairman of the UNP Minister Malik Samarawickrama and Minister Sagala Ratnayaka concluding a meeting with Minister and Vice […]
Government should proceed cautiously on proposed ETCA with India: MR
Mar 07, 2016 (LBO) – Sri Lanka’s ex-President Mahinda Rajapaksa has urged the government to table in parliament the ETCA agreement they intend signing with India. Releasing a media release Rajapaksa insists the government to seek the views of trade chambers, professional associations and the general public before making any decision to enter into ETCA […]
Lamudi explores real estate prices in Gampaha
Located approximately 28 kilometers away from the Colombo city center is Gampaha, capital city of the Gampaha District, situated in northeast Colombo. It is known to be the sixth largest urban area in the Western Province after Colombo, Kalutara, Negombo, Panadura and Avissawella. Real Estate in Gampaha – Then & Now Today, Gampaha attracts residents […]
Virtusa acquires majority interest in Polaris Consulting
Mar 07, 2016 (LBO) – Virtusa Corporation announced that its India subsidiary has acquired all of the outstanding shares of Polaris Consulting and Services held by Arun Jain, founder and chairman of Polaris, the company said in a statement. “Virtusa Corporation announced that its India subsidiary, Virtusa Consulting Services Private Limited, has acquired all of the […]
PTL Watch: Lackluster trading, some foreign selling in bonds
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Sri Lanka stocks close lower 0.06-pct
Mar 04, 2016 (LBO) – Sri Lankan stocks closed lower at 0.06 percent with losses in some index heavy stocks, stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 3.61 points lower at 6,057.22 down 0.06 percent. The S&P SL20 closed 1.60 points lower at 3,204.50 down 0.05 percent. Turnover was 334 […]
Fitch assigns first-time A to Richard Pieris and Company
Fitch Ratings has assigned Sri Lanka-based conglomerate, Richard Pieris & Company PLC (RICH), a National Long-Term ‘A(lka)’ rating. The Rating Outlook is Stable. Fitch has also assigned RICH’s outstanding senior unsecured debentures National Long-Term Ratings of ‘A(lka)’ as they represent senior unsecured obligations of the company and would rank equally with the company’s other senior unsecured debt. RICH’s rating […]
Sri Lanka to withdraw licenses of defunct mini hydro power plants
Mar 04, 2016 (LBO) – Sri Lanka’s Power Ministry is to withdraw licenses of mini hydro power plants that have been non-operational for more than 2 years. Power and Renewable Energy Minister Ranjith Siyambalapitiya said a circular in this regard will be issued soon. “There is an issue with mini hydro power plant licensing. Some […]
AIA Insurance clarifies its position on minimum public float
Mar 04, 2016 (LBO) – AIA Insurance has issued an explanation clarifying its position on minimum public float saying the shortfall is to be rectified complying with the relevant listing rules. Existing public holding of the company is 2.84 percent as at the end of last year. 1,794 public shareholders of the company represent 874,435 […]
Sri Lanka tourism earnings up 23-pct; CSE net inflows down 97-pct in 2015
Mar 04, 2016 (LBO) – Sri Lanka’s earnings from tourism has increased significantly in 2015 recording a 22.6 percent increase against the previous year. In the twelve months to December, Sri Lanka has earned 2,980.7 million US dollars from tourism while earning 2,431.1 million US dollars in 2014. Workers’ remittances recorded a marginal decline of […]