Category: Economy and Markets
Sri Lanka should have simple, clear, predictable economic policies: Razeen Sally
Aug 05, 2015 (LBO) – Sri Lanka should have policies that are simple, clear and predictable for the economy to move ahead rather than a plethora that hold businesses back, an economist said. “Simplicity is the key,” Razeen Sally, an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore, […]
Sri Lanka should move on to next generation of reforms to achieve USD50bn export target: PM
Aug 04, 2015 (LBO) – Sri Lanka has to move towards the next generation of reforms, opening up factor and product markets while fasting government approval procedures that gives are a hindrance to businesses, Prime Minister Ranil Wickremesinghe said. “Firstly it’s the question of mindset. The change of mindset in the private sector.From crony capitalism […]
Sri Lanka stocks close down 0.4 -pct
Aug 04, 2015 (LBO) – Sri Lanka’s stocks closed down 0.36 percent on Tuesday, following four straight days of gains and profit taking by investors, brokers said. The Colombo benchmark All Share Price Index closed 25.05 points lower at 7,310.05 down 0.36 percent. The S&P SL20 closed 16.06 points lower at 4,072.63 down 0.39 percent. […]
Sri Lanka sells Rs25.7bn in 06 and 10 year treasury bonds
Aug 04, 2015 (LBO) – The issue of treasury bonds amounting to 20.00 billion rupees have been oversubscribed with 105.9 billion rupees of bids received from investors. The Central Bank has accepted 11.4 billion rupees of 06 year bonds maturing on 01 August 2021 at a weighted average yield rate of 9.07 percent. The bond […]
Sri Lanka to build economic development zones to encourage investments
Aug 04, 2015 (LBO) – Sri Lanka is planning to build economic development zones grouping about four investment zones to encourage investment and support 50 billion US dollars export target, Prime Minister Ranil Wickramasinghe said. “In order to ensure that there are large investors coming in to the country, we are having economic development areas,” […]
Sri Lanka’s Haycarb profit margins pressed by downturn in gold mining industry
Aug 04, 2015 (LBO) – Sri Lankan coconut shell-based activated carbon manufacture Haycarb’s June 2015 quarter profits rose 4 percent to 135 million rupees from 130 million rupees last year, the interim accounts filed with the stock exchange revealed.Haycarb PLC Managing Director Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with […]
‘s Ceylon Chamber economic policy forum kicks off
Aug, 04, 2015 (LBO) – Sri Lanka’s Economic Summit 2015, with the participation of Sri Lanka’s President Maithripala Sirisena and Ranil Wickremesinghe will kick off Tuesday (04), in capital Colombo.The forum will cover national vision including: Policy Implementation and Perspective, A New Global Economic Strategy for Sri Lanka, Driving Exports – Use of Social Media […]
Sri Lanka’s BOI to apply provisions of 2006 to avoid confusions on investments
Aug 04, 2015 (LBO) – Sri Lanka’s Board of Investment on Monday clarified their position with regard to the confusions aroused after the mini budget overruled the previous budget.2015 budget presented by former administration included proposals to be effective from this tax year which starts from 01 April 2015.Even though certain other tax proposals required […]
Sri Lanka stocks close higher 0.06-pct
Aug 03, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.06 percent on Monday, with index heavy stocks making gains on expectations of strong corporate earnings and political stability after the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 4.54 points higher at 7,336.59 up 0.06 percent. The S&P SL20 […]
Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient dividends
Aug 03, 2015 (LBO) – Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient attention and dividends, a former head of Sri Lanka’s main business chamber and a company chairman said.“In my view, the most important stakeholder is the shareholder,” Charitha P de Silva, a former chairman of the Ceylon Chamber of Commerce, […]
Sri Lanka’s Bansei Royal Resort to build a food village in Hikkaduwa to boost revenue
Aug 03, 2015 (LBO) – Sri Lanka’s Bansei Royal Resort, managed by resort chain Jetwing leisure group is planning to build a ‘food village’ in Hikkaduwa, a small beach town on the south coast of Sri Lanka located in the Southern Province.Given the vibe of Hikkaduwa, the company has identified the impetus for tourists and […]
Sri Lanka’s budget 2016 targets budget deficit of 5.5 pct- of GDP
Aug 03, 2015 (LBO) – Sri Lanka wants to reduce the budget deficit to 5.5 percent of gross national production over 2016 to 2018, maintaining the state investment at around 6 to 8 percent of GDP, Cabinet Spokesman Minister Rajitha Senaratne said.The Finance Ministry had informed the cabinet that it has begun preparations for the […]