Category: Economy and Markets
‘s group concerned over Chinese funded port city project
Apr 17, 2015 (LBO) – Sri Lanka’s citizen’s group, Friday Forum has expressed concern about a recent controversial Chinese funded project and said full disclosure is needed on the 1.4 billion project. “The Friday Forum calls upon the government to immediately place in the public domain the details of all agreements, assessments and regulatory determinations […]
Sri Lanka advised to attract FDI, in order to maintain high growth rate: World Bank
Apr 17, 2015 (LBO) – Sri Lanka is advised to attract more foreign investments to keep up with its high growth rate due to the Island’s limitation on public and private national savings compared to national investment, a newly released World Bank report said.“With limited public and private national savings compared to national investment, Sri […]
Sri Lanka rejects entire bond auction: Central bank
Apr 16, 2015(LBO) – Sri Lanka rejected an entire bond auction, Thursday after calling bids for five billion rupees of bonds, the state debt office said.At the last auction held on 07th April 2015, Sri Lanka sold 20.04 billion rupees of two and six year bonds after calling bids for 20 billion rupees of bonds, […]
Sri Lanka cuts policy rates: Inflation declines due energy price revision and consumer items:Central Bank
Apr 15, 2015 (LBO) – Sri Lanka has cut policy rate corridor by 50 basis points lowering its repo rate to 6.00 percent and reverse repo rate to 7.50 percent with effect from today, to boost credit and investment, the Central Bank said. “Current behaviour of market interest rates is viewed to be inconsistent with […]
‘s success story can’t be copied and pasted on another”: IMF Mission Head
Apr 12, 2015 (LBO) – Georgia, once plagued with rampant corruption is lauded by World Bank today as the world’s number one economic reformer. Georgia, a country of 4. 5 Million population with a per capital GDP of USD 6,100 was once considered one of the most corrupted countries in the region. One had to […]
Sri Lanka’s Rajapakse regime used Rs375mn state lottery money for election campaign
Apr 10, 2015 (LBO) – Sri Lanka’s former rulers, the Rajapakse regime has used 375 million rupees from the state lottery board to fund the presidential election campaign, National Lottery Board said. “We have started an audit at the National lottery board,” Shyamala Perera, newly appointed Chairperson of National Lottery Board told reporters at a […]
Sri Lanka stocks close flat
Apr 10, 2015 (LBO) – Sri Lanka’s stocks closed flat with low investor activity due to the upcoming new year holidays, brokers said. The Colombo benchmark All Share Price Index closed 1.77 points higher at 6,901.06 up 0.03 per cent. The S&P SL20 closed 6.16 points lower at 3,888.33 down 0.16 per cent. Turnover was […]
Sri Lanka’s bond investigation report handed over to PM: Committe Chair
Apr 10, 2015 (LBO) – Sri Lanka’s committee appointed to probe controversial bond issue has handed over their report to the Prime Minister, yesterday, Chairman of the Committee said.“We have already handed over the report,” Attorney-At-Law Gamini Pitipana, Chairman of the Committee told LBO.“Yesterday, we gave this fact finding committee report to the Prime Minister […]
Sri Lanka looks at cheaper international borrowings : Ravi Karunanayake
Apr 10, 2015 (LBO) – Sri Lanka is looking at cheaper borrowing from the international market, Finance Minister Ravi Karunanayake said.“Yes we are considering that,” Karunanayake said. Sri Lanka’s Total Debt to Gross Domestic Product (GDP) ratio increased to 88.9 percent from reported 74.4 percent of the government debt by the end 2014, the Finance […]
Sri Lanka SEC appoints Vajira Wijegunawardene as the new DG
Apr 10, 2015 (LBO) – Sri Lanka’s security exchange commission (SEC) has appointed Vajira Wijegunawardene as the Director General, a source said. The post had been vacant for the past three years. Wijegunawardene brother, Kapila Wijegunawardene, was recently named the chairman of Sri Lanka cricket’s new four-member selection committee. Statement by SEC Vajira Wijegunawardane has […]
Sri Lanka’s bond investigation report handed over to PM: Committe Chair
Apr 10, 2015 (LBO) – Sri Lanka’s committee appointed to probe controversial bond issue has handed over their report to the Prime Minister, yesterday, Chairman of the Committee said. “We have already handed over the report,†Attorney-At-Law Gamini Pitipana, Chairman of the Committee told LBO. “Yesterday, we gave this fact finding committee report to the […]
‘s Colombo Stock Exchange increases listing fees
Apr 09, 2014 (LBO) – Sri Lanka’s stock exchange has increased its existing fees that should be payable by companies seeking a listing of its securities, the CSE said in a statement.The CSE has obtained the necessary approval from the securities and exchange commission with regard to the amendment of section 11 of its listing […]