Category: Economy and Markets
Key public enterprises should be managed through an independent authority: Minister
June 23, 2015 (LBO) – Sri Lanka’s Power and Energy Minister Champika Ranawaka says that the CPC, CEB, Port and Airport should be managed through an independent authority.“Key public enterprises, namely, Ceylon Petroleum Corporation, Ceylon Electricity Board, Port and Airport should be run through an independent authority,” “However this proposal has not got the required […]
Sri Lanka obtains Rs 684 bn borrowings for the 4 months to April 2015
June 22, 2015 (LBO) – Sri Lanka’s new administration has obtained 684.2 billion rupees gross borrowings for the first four months to April 2015, the cabinet spokesperson said last week. The approved amount of loans to be taken in the year 2015 is 1,780,000 million or 1780 billion.According to the data submitted by Ministry of […]
Sri Lanka stocks close higher 0.06-pct
Jun 22, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.06 percent with index heavy stocks showing gains, Monday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 4.50 points higher at 7,039.65 up 0.06 percent. The S&P SL20 closed 6.41 points higher at 3,912.69 up 0.16 percent. Turnover was 489 million rupees, down […]
‘s state-owned enterprises in commercial business skew the market: Mano
June 22, 2015 (LBO) – Sri Lanka State-Owned Enterprises in commercial business have an unfair advantage over other private companies which leads to a skewed market, a private enterprise leader said. This problem is compounded when the public is not aware of the situation due to an unavailability of information, he added. “ In my […]
Watawala Plantation share purchase by T Sinthilverl
Jun 22, 2015 (LBO) Sri Lanka’s Watawala Plantations in a stock exchange filing said that T Sinthilverl has purchased 457,301 shares of Watawala Plantations on 19, June for a price ranging 22.50 – 23.00 rupees. “This increases his holding to 23,788,134 shares,” the statement said.His holding in the share capital has now increased to 10.05 […]
Fairway Holdings to invest USD10.3 mn in mid-income apartment project
June 22, 2015 (LBO) – Sri Lanka’s Fairway Holdings, a luxury high-rise developer says that they will be venturing into a 10.3 million US dollar mid-income apartment project. “We have recognized that there is a need for mid-income apartments in the country,” Shivanka De Zoysa, Chief Operating Officer, Fairway Holdings said. “So with this in […]
Mahinda Rajapaksa is afraid of me: Ravi Karunanayake
June 19, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says former President Mahinda Rajapaksa is afraid of him and evading the debate against him.“I see that Mahinda Rajapaksa is afraid, inexpert and doesn’t want to attend this debate,” Karunanayake charged.“Since Mahinda Rajapaksa is not coming, I’ll debate with Bandula on next Tuesday and […]
Sri Lanka stocks close down 0.4-pct : Telcos make losses
Jun 19, 2015 (LBO) – Sri Lanka’s stocks closed lower at 0.41 percent following two consecutive days of gains with telecom and some index heavy stocks recording losses, Friday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 29.00 points lower at 7,035.15 down 0.41 percent. The S&P SL20 closed 18.05 points lower […]
Tokyo Cement to produce manufactured sand through JV
June 19, 2015 (LBO) – Sri Lanka’s Tokyo Cement is to invest in a joint venture to produce high quality manufactured sand and aggregates for concrete, the company said in a stock exchange filing.A subsidiary will be incorporated for this purpose by the name of Tokyo Super Aggregate Limited with 51 percent equity participation by […]
A Maldivian company to build luxury hotel in Sri Lanka with an investment of USD 3mn
June 19, 2015 (LBO) – The Board of Investment of Sri Lanka granted approval for an investment of 3 million US dollars of Alpha Kinam Holdings Lanka, a Maldivian company to set up a hotel in Matale, Sri Lanka.The Nichila Oya Resort and Spa hotel which expected to complete within two years’ time period, will […]
Cabinet approves to pay Golden Key depositors
June 18, 2015 (LBO) – Sri Lanka’s government has given approval for the repayment mechanism of the golden key depositors which was submitted by Prime Minister Ranil Wickramasinghe. It has been proposed to grant reliefs to depositors of nonbank inactive financial institutions by the supplementary budget 2015 and several meetings have been held with the […]
Stocks close up 0.2 pct; JKH makes gains
June 18, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.2 percent with index heavy John Keells Holdings recording gains, brokers said. The Colombo benchmark All Share Price Index closed 14.44 points higher at 7,064.15 up 0.20 percent. The S&P SL20 closed 9.57 points higher at 3,924.33 up 0.24 percent. Turnover was 566.02 million […]