Category: Economy and Markets
Sri Lanka’s markets needs to be patient till call for election and new govt. settles in: CSE Chief
Mar 23, 2015 (LBO) – Sri Lanka’s industries and markets should wait till the new rulers call for a general election and give time for the new government settle in, the Colombo Stock Exchange Chief said at the capital market conference 2015, held in Colombo recently.However he said, consistency in policy should be maintained to […]
Sri Lanka CSE to set up a clearing house with UK’s BTA Consulting
Mar 23, 2015 (LBO) – The Colombo Stock Exchange has signed an agreement with UK’s BTA Consulting to provide consultancy and project management services to set up a clearing house in Sri Lanka. The full text of the CSE announcement is reproduced below. CSE signs consultancy agreement with BTA Consulting, UK to set up a […]
Sri Lanka’s Central Bank offers Rs30bn in 4 and 8 year bonds
Mar 21, 2015 (LBO) – Sri Lanka has offered 10.0 billion rupees in 4 year bonds and 20.0 billion rupees in 8 year bonds, the state debt office of the Central Bank said.The 4 year bonds with a coupon of 10.6 percent would mature on 15 September 2019 while the 8 year bonds with a […]
Sri Lanka’s Central Bank offers Rs30bn in 4 and 8 year bonds
Mar 21, 2015 (LBO) – Sri Lanka has offered 10.0 billion rupees in 4 year bonds and 20.0 billion rupees in 8 year bonds, the state debt office of the Central Bank said. At the last auction held in 17 March 2015, 4 year bonds were sold at an average yield of 9.13 percent and […]
Sri Lanka’s SEC directs Kalpitiya Beach Resort to call an EGM
Mar 20, 2015 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) has directed Kalpitiya Beach Resort to call an extraordinary general meeting for not complying with a construction work stated in the prospectus.In 2011, Kalpitiya Beach Resort has raised 283.5 million rupees from an initial public offering stating that the funds will be utilized […]
Sri Lanka’s new government’s mini budget sends a filthy message; Entrepreneurs are extremely unhappy: Corporate Lawyer
Mar 20, 2015 (LBO) – Sri Lanka’s entrepreneurs are extremely unhappy with the new administration’s interim budget 2015 which was approved by parliament last month including one-off and super gain taxes, Naomal Goonewardena,partner of Nithya partners, a corporate law firm said. “You can’t decide anything with the mini budget except the fact that there is […]
Sri Lanka’s inconsistent policy drives investors away, early elections will help: Investment Advisor
Mar 20, 2015 (LBO) – Sri Lanka’s policy inconsistency is unhealthy for foreign investments while the new mini budget does not send the right signals to the FDI community, an investment advisor said. “In my role as a banking partner at KPMG, we get lot of investors who come and one of the things they […]
Sri Lanka’s US $85mn airport runway contract awarded to Access Engineering annulled: Minister
Mar 19, 2015 (LBO) – Sri Lanka’s Bandaranayake International Airport runway overlay and related work tender that was awarded to Access Engineering, a local construction company has been annulled by cabinet due to lack of transparency, cabinet spokesman Minister Rajitha Senaratne said today.“No proper procurement procedure has been followed when awarding this contract,” Senarathne said. […]
‘s new govt. tracing hidden funds in Dubai: Minister
Mar 19, 2015 (LBO) – Sri Lanka’s Cabinet spokesman Rajitha Senarathne said, that the government has information about accounts amounting to two billion US dollars which belong to a “top and important family” in the island.Senaratne said the government had information of the people who had hidden “billions of dollars” in foreign accounts.“We have found […]
Sri Lanka to publish committee report on the bond market investigation: Minister
Mar 18, 2015 (LBO) – Sri Lanka’s 100 day administration will publish the investigative report on the controversial bond issue, deputy secretary general of the United National Party Akila Viraj Kariyawasam told LBO. Attorney-at-law Gamini Pitipana, who headed the committee appointed by the Prime Minster to probe the matter said the report will be completed […]
‘s intervention over tender board baseless: PM
Mar 17, 2015 (LBO) – Sri Lanka’s Central Bank governor Arjuna Mahendran has taken leave since Monday until the investigations are over, Prime Minister Ranil Wickremesinghe said. “Charge against CB governor’s intervention over tender board is baseless. After that, tender board presented their recommendations. Those recommendations have been duly accepted by CB governor without any […]
Sri Lanka’s controversial bond issue report to be filed in the next two weeks: Committee Chair
Mar 16, 2015 (LBO) – Sri Lanka’s committee appointed to probe controversial bond issue, to file their report to the Prime Minister within the next two weeks, chairman of the Committee said. “We have already commenced work and had one sitting and will be having another today and will continue,†attorney-at-law Gamini Pitipana, chairman of […]