Category: Economy and Markets
Sri Lanka GDP 2.9-pct for third quarter 2018
Dec 19, 2018 (LBO) – The Department of Census and Statistics (DCS) Sri Lanka said economic growth rate of the country is estimated as 2.9 percent for the third quarter of 2018. The Gross Domestic Product at constant (2010) prices for the third quarter of 2018 recorded as 2,431 ,627 million rupees and GDP reported […]
China Securities Depository and Clearing Corporation and CDS Sri Lanka commits to corporation
Dec 18, 2018 (LBO) – Sri Lanka’s Central Depository Systems (Pvt) Ltd (CDS) and China Securities Depository and Clearing Corporation Limited (CSDC) recently committed towards pursuing a cooperative relationship in the areas of securities clearing and depository. This commitment was formalized with the signing of a MoU between the two depositories during a visit by CSDC […]
Ceylon Chamber facilitates efficient document approval process for exporters
Dec 18, 2018 (LBO) – A Memorandum of Understanding was signed between the Ceylon Chamber of Commerce and the Ministry of Foreign Affairs (MoFA) recently, for the certification of export related documents through the electronic Document Attestation System (e-DAS) of the Ministry. The MOU provides for the Ceylon Chamber of Commerce to use the e-DAS system […]
Hayleys Energy commences first oil and gas drillship lay-up at Hambantota, Sri Lanka
Dec 17, 2018 (LBO) – Sri Lanka’s Hayleys Energy Services announced the arrival of the oil and gas drillship “Aban Abraham” for a warm lay-up to the Hambantota International Port. Aban Offshore Limited, the company that own the vessel, is India’s largest offshore drilling services provider to oil companies, providing drilling operations, production and exploratory work […]
Constitutional violation cannot be rectified by way of an election: New PM
Dec 18, 2018 (LBO) – Taking oaths as Prime Minister of Sri Lanka, Ranil Wickremesinghe made a commitment to establishing normalcy in the country and continuing with the development agenda. In a special statement the reappointed Premier said that, this Constitutional violation cannot be rectified by way of an election. “It is also stated in the […]
Kaspersky Lab makes inroads into Sri Lanka with new distributor SATL
Dec 14, 2018 (LBO) – Global cybersecurity company Kaspersky Lab has been successfully expanding its business in the South Asia region. Continuing to have a strong hold in the Indian market, they have now moved to achieve a similar hold in Bangladesh and Sri Lanka. After a successful launch in Bangladesh in November, Kaspersky Lab are […]
‘s development priorities needed
What is Next for Middle-Income Asia and Sri Lanka? By Dr. Ganeshan Wignaraja* Decades of sustained economic growth have left the Asia Pacific with few lower-income countries. Absolute poverty levels are and will continue to keep falling. This is cause for celebration. But it also requires a new partnership between countries and development institutions to […]
CICT to enhance Colombo Port’s deep water capacity by March 2019
Dec 13, 2018 (LBO) – Colombo International Container Terminals (CICT) has announced a significant equipment addition that will enhance the terminal’s deep water capacity and make Colombo one of the few ports in Asia capable of handling vessels of 22,000 + TEUs. The Company said the enhancement encompasses the addition of two new mega Quay […]
Gihan Cooray appointed Chairman of Nations Trust Bank
Dec 13, 2018 (LBO) – Nations Trust Bank PLC has announced the appointment of Gihan Cooray as Chairman of the Board of Directors, with effect from December 1st 2018. Cooray takes over as Chairman following the retirement of Krishan Balendra who stepped down after having served the stipulated maximum 9 year tenure as a Director […]
Sri Lankan companies that provide childcare support show business benefits: Report
Dec 13, 2018 (LBO) – Businesses in Sri Lanka that offer childcare support to their employees can gain a significant positive impact on recruitment, retention and productivity of workers, especially women, according to a new report released by the International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with the United […]
Expert Committee hands over report on Singapore-Sri Lanka FTA to President
Dec 11, 2018 (LBO) – The report compiled by a Presidential Commission on the Sri Lanka – Singapore Free Trade Agreement (FTA), was handed over to President Maithripala Sirisena Monday.In a tweet, President Sirisena said that the report highlights how the agreement had been rushed without the proper consent of stakeholder institutions.The presidential committee was chaired […]
Buyback offer lifts John Keells (JKH) stock out of the doldrums
December 8, 2018 (LBO) – Sri Lanka’s stock market bellwether John Keells Holdings (JKH) has seen its stock price rise sharply since the start of Sri Lanka’s constitutional crisis. JKH stock touched multiyear lows of Rs126/share weeks before the October 26th start of Sri Lanka’s political turmoil. Trading significantly below net asset value of over […]