Category: Markets

Mar 13, 2015 (LBO)- Fitch Ratings has affirmed Sri Lanka based telecoms company Dialog Axiata PLC’s ,’AAA(lka)’ National Long-Term Rating with a stable outlook despite new government’s one-off tax of 250 million rupees on each mobile operator and “super gains” tax of 25 percent on profit. Press Release Reproduced below:- KEY RATING DRIVERS Stand-Alone Profile […]

Mar 13, 2015 (LBO) – Sri Lanka’s retrieval of GSP Plus, a system granting tax free entry for the counties goods to the EU market seems brighter, Ministry of Industry and Commerce said in a statement. “In that no less than Hon Jan Zahradil a Vice-Chair of EU Committee on International Trade who met me […]

Mar 11, 2015 (LBO) – The Colombo Stock Exchange will host a series of workshops to empower retail investors engaged in the Stock Market by educating them on the most prudent means of investment, the company said.The workshop is aimed at retail investors and conducted in association with the Institute of Chartered Accountants of Sri […]

Mar 11, 2015 (LBO) – Sri Lanka’s coloured stone industry which is the fourth largest export earner in the island should export more value addition gems to contribute better to the country’s’ export earnings , a senior official at Export Development Board (EDB) said. “We are doing our best to achieve the highest value added […]

Mar 10, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed a commission of inquiry headed by Supreme Court Justice Priyasath Dep to probe corruption and abuse of power, president’s media said.The newly set up commission will probe into matters including illegal acquisition of lands, irregularities in the stock market and the handling of […]

Mar 10, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 172.5 million US dollars of bids received from investors.The central bank has accepted 156.5 million US dollars of three year bonds at a rate of 6 month US dollars LIBOR plus a weighted […]

Mar 06, 2015 (LBO) – Sri Lanka’s Softlogic Capital on Friday obtained the shareholder approval to reduce its stated capital, a statement said.The decision has been made at an extraordinary general meeting which eventually intends to reduce the accumulated losses of the company. According to a previous statement issued by the company, the amount of […]

Mar 04, 2015 (LBO) – Sri Lanka’s guardian Acuity Asset Management, a fund management firm launched a mutual fund invested in risk free government securities which will provide investors to enter and exit easily as a bank deposit, officials said. “It is purely invested in government securities and is therefore meant for investors who have […]

Mar 02, 2015 (LBO) – Sri Lanka’s National Development Bank PLC’s proposed senior debentures of up to 7.5 billion rupees which will be used to refinance maturing multilateral funding has been rated an expected National Long-Term Rating of ‘AA-(lka)(EXP)’ by Fitch rating Lanka, a media release said. The debentures which will have a tenor of […]

Mar 02, 2015 (LBO) – Sri Lanka’s construction sector is a key area of interest for Turkish companies scouting for investment opportunities, Turkey ambassador to Colombo Iskender Okyay said.“Many Turkish companies are interested in Lankan infrastructure projects, amongst them are some leading Turkish firms,” said Ambassador Okyay. “Specially, Turkey is internationally reputed for its construction […]