Category: Economy and Markets
Google, Apple removes TikTok from app stores in India after ban
Apr 18, 2019 (LBO) – South Indian state of Tamil Nadu has requested Google and Apple to take down the Chinese-owned Tiktok video sharing app from their app stores. The move follows a ruling by the Madras High Court, which ordered its removal from app stores saying it encourages pornography and warning that sexual predators […]
Mangala PB Yapa appointed new Chairman of Board of Investments
Apr 11, 2019 (LBO) – Mangala PB Yapa has been appointed as the new Chairman of the Board of Investment of Sri Lanka, President’s Media Division said in a statement. According to the statement, he has received his appointment letter from President Maithripala Sirisena at the Presidential Secretariat this morning. He assumed duties as the 22nd […]
Central Bank launches roadmap for sustainable finance in Sri Lanka
Apr 11, 2019 (LBO) – Central Bank of Sri Lanka launched a Roadmap for Sustainable Finance in Sri Lanka on 10 April 2019 at the Sustainable Banking Network Global Meeting of the International Finance Corporation (IFC) in Washington.This Roadmap provides a broad direction to financial regulators and financial institutions to effectively manage environmental, social and governance (ESG) […]
CB introduces real time notifications for transactions in Govt securities via SMS, Email
Apr 08, 2019 (LBO) – Sri Lanka’s Central Bank which operates and maintains the LankaSecure system has introduced an SMS, Email alert service from 25th March 2019 to enhance the awareness of investors in the government securities.The SMS, Email alert is a service that sends real-time notifications to investors in government securities for each and every movement […]
Policy rates could be reduced in future if current trends continue: Central Bank
Apr 08, 2019 (LBO) – Monetary Board of the Central Bank today said that they are of the view that, if the current trends in global financial markets, trade balance, and credit growth continue, policy interest rates could be reduced in the period ahead, given well-anchored inflation and inflation expectations. Projections, as well as inflation expectations, […]
Sri Lanka Central Bank maintains policy interest rates at current levels
Apr 08, 2019 (LBO) – Monetary Board of Sri Lanka’s Central Bank at its meeting held today decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 8.00 percent and 9.00 percent, respectively. “The Board […]
DFCC priced rights issue at a 56-pct discount to NAV to attract shareholders: CEO
Apr 08, 2019 (LBO) – Chief Executive Officer of Sri Lanka’s DFCC bank says that they wanted to make the rights issue attractive to shareholders by providing a discount of 56 percent to the net asset value per share. The bank is to issue up to 106,039,075 ordinary shares to the existing shareholders in the […]
Capital TRUST acquires Taxiyak and launches Taxiya
Apr 08, 2019 (LBO) – Capital TRUST Mobility Solutions (Pvt) Ltd, a subsidiary of Capital TRUST Holdings Limited is launching Taxiya, a mobile taxi hailing service. Focusing on safety, reliability, customer convenience and enhanced benefits to the drivers, Taxiya is set to zoom into the future of Sri Lanka’s organized Taxi service industry. Taxiyak was […]
Sri Lanka official reserves improve to USD 7.6 billion by end March
Apr 05, 2019 (LBO) – Sri Lanka’s gross official reserves were 7,621.9 million US dollars by the end of March, up from 6,035.16 million US dollars in February this year, latest Central Bank data showed.By the end of March, foreign currency reserves were 6,728.6 million dollars while the reserve position in the IMF was 66.4 […]
CEB Eng Union points fingers at PUCSL and Snr. Govt officials for power crisis
Apr 04, 2019 (LBO) – The power crisis in the country is mainly due to the timely non approval of the `Least Cost Long-Term Generation Expansion Plan’ (LCLTGEP) by the Public Utilities Commission (PUCSL) and interference of top officials in the power ministry. “We put 50 percent of the blame for causing this current crisis on the PUCSL,” Saumya […]
AIA receives shareholder approval for proposal to delist from CSE
Apr 03, 2019 (LBO) – Publicly listed company AIA Insurance Lanka announced that it will delist the Company’s shares from the official list of the Colombo Stock Exchange in compliance with applicable regulations and procedures.The proposal to delist was approved by the requisite shareholder majority at the Extraordinary General Meeting held on 27 March 2019. The […]
CEB to appear in Court regarding un-scheduled power cuts
Apr 03, 2019 (LBO) – The Colombo Fort Magistrate Tuesday noticed the Ceylon Electricity Board (CEB) to be present in courts on April 9 over its failure to provide the Public Utilities Commission of Sri Lanka (PUCSL) with the reports relating to power cuts. Earlier legal action was filed against the CEB for failing to give […]