Category: Economy and Markets
EU Ambassador appreciates progress being made to resolve investor issues
Oct 26, 2018 (LBO) – EU Ambassador Tung-Lai Margue participating in the 7th Edition of EU Dialogue that was held last week, has appreciated the encouraging progress being made by Sri Lanka to resolve investor issues. This meeting was held with several issues relating to EU companies in Sri Lanka being taken up for resolution. The […]
Colombo Stock Exchange withdraws trading suspension on Adam Investments
Oct 25, 2018 (LBO) – Colombo Stock Exchange says the proposed trading suspension of the securities of Adam Investments will not be effective from 29 October 2018.The exchange further said the company has resolved the matters giving rise to the qualified opinion in the independent auditors report on the financial statements for the year ended […]
Finance Ministry launches dedicated hotline for Enterprise Sri Lanka
Oct 25, 2018 (LBO) – Sri Lanka’s Finance Ministry has introduced a call center and a hotline number 1925 to assist and resolve issues faced by entrepreneurs under the Enterprise Sri Lanka credit scheme. Accordingly, any entrepreneur can dial the special information hotline to submit their inquiries, complaints, and feedback. Under this scheme, over 58,817 […]
Harsha salutes Dumindra Ratnayake, critical of his removal as BOI Chairman
October 25, 2018 (LBO) – State Minister of National Policies and Economic Affairs Dr. Harsha de Silva used a Facebook post to praise the former Chairman of the BOI Dumnidra Ratnayake, and criticise the way he was removed. The Facebook post is reproduced below: Thank you Dumi. The loss is certainly ours! This is to […]
‘s Bank
October 24, 2018 (LBO) – President Maithripala Sirisena has appointed long time public servant Sujatha Cooray as the Chairperson of People’s Bank according to a Newsfirst report.Cooray is a former Secretary to the Ministry of Ports and Highways. She has also served as Deputy Secretary to the Treasury.The new Chairperson has a Masters in Development Studies, […]
CBSL Deputy Governor C. J. P. Siriwardena appointed Commissioner General of Inland Revenue
October 23, 2018 (LBO) – Central Bank of Sri Lanka Deputy Governor Mr. C. P. J. Siriwardena has been appointed as Commissioner General of Inland Revenue by Finance Minister Mangala Samaraweera. The position is the top tax official in Sri Lanka and is one of the most important public sector appointments. His Bloomberg Executive Profile […]
Ravi Abeysuriya appointed to Seylan Bank board as an Independent Director
October 23, 2018 (LBO) – Ravi Abeysuriya has been appointed to the board of directors of Seylan Bank with effect from October 17t, 2018 according to a stock exchange disclosure. Abeysuriya’s Bloomberg executive profile reproduced below: Mr. Ravi Abeysuriya, CFA, serves as the Chief Executive Officer of Heraymila Securities Limited. Mr. Abeysuriya served as Managing […]
Sri Lanka introduces Business to Consumer direct transaction under E-commerce
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry as envisaged in the Budget-2018 has established a regulatory framework enabling the Sri Lankan companies to initiate Business to Consumer (B2C) direct E-Commerce transactions with overseas customers.Sri Lankan Customers do enjoy this B2C e-commerce facility via E-bay and other trading platforms but not vice versa.Accordingly, hereafter […]
Finance Ministry justifies divestiture of Hyatt and Hilton Hotels
Oct 22, 2018 (LBO) – Sri Lanka’s Finance Ministry on Monday justifying the divestiture of Hyatt and Hilton Hotels said the decision was taken by the Cabinet and proposed in several budget speeches. The ministry further stated that independent financial advisers Lazard and MTI through their global offices have already begun to reach out to […]
Adam Investments (AINV) warned of CSE trading suspension from October 29th
October 22, 2018 (LBO) – The Colombo Stock Exchange (CSE) has notified the marketplace of an enforcement action against listed Adam Investments (AINV). “Trading of securities of the following company, which is on the watch list, will be suspended with effect from 29th October 2018 in terms of Rule 7.5 (d) (l) (9) of the […]
MTD Walkers Executive Deputy Chair Jehan Amaratunga resigns from Peoples Bank board
October 20, 2018 (LBO) – Newsfirst is reporting that Jehan Amaratunga has resigned from the board of Peoples Bank. His resignation as reported by Newsfirst, although handed over on October 18th, is said to be effective August 31, 2018. Amaratunga, Executive Deputy Chairman of CSE listed MTD Walkers (KAPI), has been a subject of controversy […]
‘s request – Hemasiri Fernando
October 20, 2018 (LBO) – Hemasiri Fernando, Chairman of Peoples Bank, has said that he and the rest of the board of directors of People’s Bank are ready to offer their resignations as per the Presidents request. In a call broadcast on Newsfirst, Fernando stated that the President has requested the respective line ministers to […]