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Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Central Bank to sell USD 75mn worth of development bonds
Oct 05, 2015 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, three years and three months, and four years and eight months to local and foreign investors.The Debt Department said the subscription will be at a rate of US dollar six month LIBOR plus a margin […]
Sri Lanka’s growth to increase to 5.6-pct in 2016: World Bank
Oct 05, 2015 (LBO) – Sri Lanka’s growth is expected to increase to 5.6 percent in 2016 with the increase in state sector workers and disposable income, a World Bank report said. “In Sri Lanka growth is expected increase to 5.6 percent due to higher public sector wages and higher disposable incomes,” the report said. […]
Tourist arrivals up 36-pct driven by arrivals from India and China
Oct 04, 2015 (LBO) Sri Lanka’s tourist arrivals rose to 143,374 visitors, up 35.9 percent in September 2015 from a year ago, a statement said.Arrivals for the nine months to September were up 17.1 percent to 1,315,839 from a year ago, the latest tourism data shows. In September India arrivals rose 41.5 percent to 27,233 while Chinese […]
Sri Lanka increases excise duty on cigarettes and liquor: Finance Ministry
Oct 03, 2015 (LBO) – Sri Lanka government has increased the excise duty on cigarettes and liquor with effect from Saturday (03), the ministry of finance said in a release.The Excise duty on Molasses and Coconut arrack has been increased by 110 rupees from 1485 rupees per proof liter. Accordingly the prices of a bottle […]
Sri Lanka calls for expat funds in Swiss accounts: Ravi K
Oct 02, 2015 (LBO) – The government encourages Sri Lankan expats to bring back undeclared funds in Switzerland, with no questions asked, the Finance Minister said. “There are about 10 to 15 billion dollars held outside the country. We are inviting Sri Lankan expatriates to bring their money and we can offer a considerable interest […]
Sri Lanka slaps 100-pct margin on car LCs: Finance Minister
Oct 02, 2015 (LBO) – Sri Lanka will impose a 100 percent margin deposit on car import LCs with effect from today, Finance Minister Ravi Karunanayake told at a media briefing held in Colombo.According to data Sri Lanka’s expenses on vehicle imports has doubled to 744 million US dollars for year 2015 compared to 374 […]
PTL Watch: Foreign outflow of USD1.15 bn from Sri Lanka govt bonds
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Sri Lanka’s Renuka Foods to acquire Shaw Wallace Ceylon through a share swap
Oct 02, 2015 (LBO) – Sri Lanka’s Renuka Foods is to acquire Shaw Wallace Ceylon limited through a share swap agreement to save cost and improve operational efficiencies, the company said in a stock exchange filing. A share swap is a tactic use during an acquisition of a company, paying shares rather than with cash. […]
Sri Lanka stocks up 0.3-pct
Oct 02, 2015 (LBO) – Sri Lankan stocks closed up 0.35 percent on Friday with yesterdays momentum continues as gains seen in the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed up 25.06 points at 7,105.54 higher 0.35 percent. S&P SL20 closed 14.73 points higher at 3,851.06 up 0.38 percent. […]
HSBC, CCC and IUCN to improve Knuckles conservation forest
Guided by the Forest Department, HSBC together with the Sri Lanka Business and Biodiversity Platform of the Ceylon Chamber of Commerce (CCC) and IUCN will begin working together on conserving and improving the mini watershed area of the Puwakpitiya Oya in the Knuckles Conservation Forest and Environmental Protection Area. This collaborative effort aims to enhance […]
LAHES partners with ATMC to provide Australian Qualifications
LAUGFS Higher Education Services (Pvt) Ltd (LAHES) has recently partnered with the prestigious Australian Technical & Management College (ATMC), offering recognized Australian undergraduate programs in the Business Management, Hospitality Management and Electronics & Telecommunications fields to students in Sri Lanka. The programs are specially designed for students who successfully complete the GCE “A” Level and […]