Category: Economy and Markets
Joint Business Chambers urges political parties to nominate candidates of repute for elections
July 02, 2015 (LBO) – Sri Lanka’s Joint Business Chambers calls political parties to nominate candidates of repute for upcoming general election and endorse the ‘March 12th Declaration” an initiative of PAFFREL and the ‘Citizens’ Collective’, which identifies a set of minimum criteria that the political parties should use, in selecting candidates for all future […]
Lanka Rating Agency not entitled in law to carry on business as a Credit Rating Agency nor review ratings: SEC
July 1, 2015 (LBO) – Sri Lanka’s Securities and Exchange Commission of Sri Lanka (SEC), at its meeting held on the 29th of June 2015, decided that due notice be given to members of the public that, registration of Lanka Rating Agency Limited (LRA) as a Market Intermediary under the category of ‘Credit Rating Agency’ […]
Sri Lanka’s Access Engineering to enter property development sector
June 30, 2015 (LBO) – Sri Lanka’s leading construction company, Access Engineering is to enter into the highly growing property development sector with 524 million rupees of investment, the company said.The company has invested 273.6 million rupees to acquire Horizon Holdings Ventures private limited incorporated in this month.It has also invested 250.0 million rupees to […]
Sri Lanka 3 and 6 months Treasury bill yields up, 12 months flat: Central Bank
June 30, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Tuesday’s auction with 3-months yield up 03 basis points to 6.11 percent and 6-month yields also were also up 03 basis points, to 6.21 percent, data from the state debt office showed. It was decided to accept 12,175 million rupees from the […]
Sri Lanka’s inflation at record low of 0.1-pct in June 2015
June 30, 2015 (LBO) – Sri Lanka’s inflation measured by Colombo Consumer Price Index has fallen to 0.1 percent in June 2015 from a year earlier, data from the statistics department showed. The index increased by 1.0 percent in the month to close at 181.6 points, after gaining from 0.7 percent in May 2015. The […]
Sri Lanka’s govt targets a USD 6000 per capita income within next five years – President
June 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena was quoted saying that the government expects to increase per capita income to 6000 US dollars, within next five years and comprehensive development will be formed in every field including investments and industries to achieve this. President Sirisena has made this comments while he was […]
Sri Lanka North calls for private investments
June 30, 2015 (LBO) – Sri Lanka’s Northern Province calls for private investments in water disposal, recycling, construction, health care, hospitality, trade and vocational targeting at increasing household income of the people.“Some of the fundamental problems faced by the people of the North and the East are their socio-economic problems, the post conflict trauma, livelihood […]
Sri Lanka sells Rs32.3bn of 4, 6 and 8 year bonds
June 29, 2015 (LBO) – The issue of treasury bonds amounting to 30 billion rupees have been oversubscribed with 79.15 billion rupees of bids received from investors.The central bank has accepted 3.7 billion rupees of four year bonds maturing on 01 June 2020 at a weighted average yield rate of 8.16. The bond auction held […]
Sri Lanka to get USD165mn credit to up access to piped water servicers
June 29, 2015 (LBO) – The World Bank Board has approved a 165 million US dollars credit for Sri Lanka to increase access to piped water services and improved sanitation in the Mullaithivu, Kilinochchi, Nuwara Eliya, Badulla, Monoregala, Kegalle and Ratnapura Districts. The bank says around 450,000 people are expected to benefit under the project, […]
Sri Lanka keeps key policy rates steady, credit to private sector grows in April
June 29, 2015 (LBO) – Sri Lanka’s Central Bank has decided to maintain its standing deposit facility rate and the standing lending facility rate unchanged at 6.00 percent and 7.50 percent, respectively. The Central Bank’s monetary board at its meeting held on 26 June 2015 has also decided to keep statutory reserve ratio stable at 6.00 […]
Sri Lanka’s Bartleet Finance and Orient Finance to be merged
June 29, 2015 (LBO) – Sri Lanka’s Bartleet Finance Plc, and Orent Finance had been given approval by shareholders, to merge both companies, Orient Finance said in a stock exchange listing.“Existing shareholders would get a payment of 14.97 rupees per share for every one ordinary share of Orient finance or 01 ordinary voting share in […]
Nation Lanka finance to issue Rs502mn right issue
June 26, 2015 (LBO) – Sri Lanka’s Nation Lanka finance, a finance company to issue 502 million right issue to existing shareholders to strengthen the core capital of the company. The company will issue 502,326,522 shares in a proportion of two shares for every one share held, the company said in a stock filing. A […]