Category: Economy and Markets
Sri Lanka sells Rs20.04bn in 2 and 6 year bonds
Apr 07, 2015 (LBO) – Sri Lanka has sold 20.04 billion rupees of two and six year bonds after calling bids for 20 billion rupees of bonds, the state debt office said. The debt office on Tuesday sold 12.44 billion rupees of two year bonds maturing on 15 May 2017 at weighted average yield of […]
Sri Lanka says “NO” to unsolicited proposals
Apr 06, 2015 (LBO) – Sri Lanka decided not to accept unsolicited proposals as a matter of policy, and plans to act according to the government tender procedure regarding all such proposals in the future, cabinet spokesman, Rajitha Senaratne said last week.The cabinet of ministers has already approved this proposals made by Prime Minister Ranil […]
Sri Lanka’s Coffee Bean and Tea Leaf opens Rs 50mn store in Colombo
Apr 05, 2015 (LBO) –Sri Lanka’s Coffee Bean and Tea Leaf, Californian coffee brand founded in 1963 in Los Angeles, has opened a new coffee store with an investment about 50 million rupees to cater to the trending coffee demand, an official said. “Other fast developing countries have shown the same pattern that Sri Lanka […]
Sri Lanka get ¥ 550mn Japanese grant to develop rail network and agricultural facilities
Apr 03,2015 (LBO) – Sri Lanka’s Cabinet spokesmen Rajitha Senaratne said, the government of Japan has agreed to provide grant assistance under non- project grant aid amounting to Japanese Yen 500 million or 550 million rupees for Japanese equipment to develop the islands railway network and agricultural facilities. The equipment to be obtained under this […]
Sri Lanka has over Rs 300bn unpaid road develpment bills: “We are in a major mess”: Kabir Hashim
Apr 02, 2015 (LBO) – Sri Lanka’s Minister of Highways and Investment Promotion says, the government has over 300 billion rupees of bills to be paid for unsolicited proposals and contracts without agreements for roads building. “That’s a colossal amount,” Kabir Hashim, Minister of Investment Promotion and Highways told reporters at a press conference held […]
Sri Lanka stocks close up 0.5-pct
Apr 02, 2015 (LBO) – Sri Lanka’s stocks closed higher for the third consecutive day with Access Engineering gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 32.06 points higher at 6,948.14 up 0.46 per cent. The S&P SL20 closed 8.91 points higher at 3,909.58 up 0.23 per cent. […]
Sri Lanka is dreaming of Singapore and living in Ethiopia: Finance Minister
Apr 02, 2015 (LBO) – Sri Lanka’s Finance Minister says even though the customs department started 24 seven operations last month, the service has not been used to the maximum by the importers and exporters, which is like dreaming of Singapour and living in Ethiopia.“We have brought Singapore access through the Customs extending their services […]
Sri Lanka’s BOI Chief says paperless operation reduces malpractices
Apr 01, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) Chief said, recently introduced electronic commerce or paperless operations helps to reduce malpractices in work place.Upul Jayasuriya , chairman of the Board of Investment of Sri Lanka was quoted as saying, that he was favourable to the paperless operations by introducing advanced Information Technology […]
Sri Lanka stocks close up 1.4-pct; JKH rings the opening bell
Apr 01, 2015 (LBO) – Sri Lanka’s stocks closed higher for the second consecutive day with telco and tobacco stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 95.74 points higher at 6,916.08, up 1.40 percent. The S&P SL20 closed 48.24 points higher at 3,900.67, up 1.25 percent. […]
Sri Lanka asked to set up an industrial zones by China: Port City is not enough
Apr 01, 2015 (LBO) – Sri Lanka asked to set up an industrial zone with the partnership of China since the Chinese funded port city only will not help developing the Island, Yi Xianliang, ambassador of the People’s Republic of China to Sri Lanka was quoted as saying in a media release. He also hinted […]
‘s E.B Creasy acquires Lanka Special Steels ltd
Apr 01, 2015 (LBO) – Sri Lanka’s E.B Creasy has acquired full stake of Lanka Special Steels ltd on Tuesday, the company said in a stock exchange filing.E.B Creasy which has interests in logistics and manufacturing has purchased 2.5 million ordinary shares of Lanka Special Steels ltd from Tata Steel ltd for 433 million rupees.Lanka […]
Sri Lanka to get EXIM bank India’s US$500mn green bond support for green projects
Apr 01, 2015 (LBO) – The Export-Import Bank of India, India’s export finance institution, is planning to support Sri Lanka through its recently launched 5 year “Green Bond” issue of 500 million US dollars, the bank said in a statement. The issue attracted subscription of around 3.2 times which was led by strong demand, across […]