Category: Economy and Markets
Empowering women with financial independence by closing the investment gap
Mar 29, 2019 (LBO) – As Sri Lankan women join the workforce – particularly in the corporate sector – at a higher rate than ever before, a new opportunity to bridge the wealth gap is emerging as women now turn their eyes to the world of investment. These were some of the themes explored at […]
“Apartment sales slowing due to relatively lesser cash flows for these investments” HNB CEO
Mar 27, 2019 (LBO) – Successful real estate sector outcomes will be dependent upon sound strategy that puts into place foreign investment for new projects, a senior banker said. “If the necessary national development does takes place and if foreign investment and new projects take off and GDP grows to the expected levels, I think […]
‘s Tokyo Cement Company(Lanka) board resolves amalgamation
Mar 27, 2019 (LBO) – Sri Lanka’s Tokyo Cement Company (Lanka) PLC board of directors of has resolved the amalgamation of TOKYO Super Cement Company Lanka (Private) Limited, a fully owned subsidiary company with Tokyo Cement Company (Lanka) PLC (TCCL). The name of the amalgamated Company will be Tokyo Cement Company (Lanka) PLC and the […]
OBG Sri Lanka report:Looks at steps being taken to encourage innovation and boost export earnings to USD20Bn in 2019
Mar 27, 2019 (LBO) – A new report from research and consultancy firm Oxford Business Group (OBG) shines a spotlight on Sri Lanka’s wide-ranging plan to achieve upper-middle-income status. The Report: Sri Lanka 2019 looks in detail at the steps being taken to encourage innovation across the manufacturing industry as part of the national strategy to […]
‘s Oceanpick first in South Asia to earn certification for offshore farming
Mar 27, 2019 (LBO) – Oceanpick (Pvt) Ltd., has been awarded the Best Aquaculture Practices (BAP) certification, making Sri Lanka a pioneer in South Asia -and only the 34th country in the world- with a BAP-certified facility. Oceanpick is South Asia’s first ever commercial-scale offshore oceanic farm for finfish, and is currently the only offshore […]
‘s Chengdu delegation meets BOI Chairman, Eyes steel plant in Hambantota
mar 26, 2019 (LBO) – A delegation from Chengdu Association for Foreign Trade and Cooperation (CAFTEC) Chengdu, China visited the Board Of Investment and expressed interest in setting up a steel project in Hambantota. The aim of the visit is to promote Sri Lanka and particularly projects in Hambantota. The delegation who met with the Chairman […]
Opening of a counter to issue coins to general public
Mar 26, 2019 (LBO) – The Central Bank of Sri Lanka will open a counter at the ground floor of the Central Bank head office building, No.30, Janadhipathi Mawatha, Colombo 01 on 27 March 2019, to issue coins to the general public. This counter will be opened for the public from 9.00 a.m. to 11.00 […]
‘s Hambantota
Mar 25, 2019 (LBO) – Inaugurating the construction work of the US 3.85 billion dollar oil refinery project and the cement manufacturing plant in Hambantota, Prime Minister Ranil Wickremesinghe said the projects will create thousands of job opportunities in the area and surrounding districts. “These two projects are two mega investment projects that could be considered […]
‘s capital markets stabilising
March 23, 2019 (LBO) – Foreign flows into and out of Sri Lanka’s capital markets appear to be stabilising after a period of significant outflows. The stabilisation of flows has also resulted in stabilisation of Sri Lanka’s currency (LKR). The LKR has been trading close to Rs178/US$ for the last few weeks, up from an […]
‘s EXIM Bank for Central Expressway
Mar 22, 2019 (LBO) – The Export- Import Bank of China (EXIM Bank) has agreed to provide a concessional loan amounting to US 989 million dollars covering 85 percent of the contract price, for the Central Expressway Project – Section 1 from Kadawatha to Meerigama. The loan is the single largest loan approved by the […]
‘s criticisms of $ 2.4bn bond offering undermine CBSL
March 22, 2019 (LBO) – Former Governor of the Central Bank of Sri Lanka (CBSL) during the Mahinda Rajapaksa administration, Ajith Nivard Cabraal, has come out with criticisms of the pricing and interest rates on debt that came out of the recent sovereign bond offering. His contention that somehow the interest rates were abnormally high […]
Sri Lankan Banks manage capital impact of SLFRS 9
Mar 22, 2019 (LBO) – Sri Lankan banks have been able to manage the capital impact of first-time adoption of SLFRS 9 accounting standards, in line with our expectations, due to capital infusions ahead of full implementation of Basel III, satisfactory profitability buffers and the four-year phasing-in period, Fitch Ratings says. Sri Lanka adopted SLFRS 9 […]