Category: Economy and Markets
”’ rating despite tax change: Profits will suffer
Mar 13, 2015 (LBO)- Fitch Ratings has affirmed Sri Lanka based telecoms company Dialog Axiata PLC’s ,’AAA(lka)’ National Long-Term Rating with a stable outlook despite new government’s one-off tax of 250 million rupees on each mobile operator and “super gains” tax of 25 percent on profit. Press Release Reproduced below:- KEY RATING DRIVERS Stand-Alone Profile […]
India agrees to a USD 1.5bn currency swap; extends visa on arrival from Sinhala Tamil New Year
Mar 13, 2015 (LBO) – India has extended the facility of tourist visa on arrival electronic travel authorization scheme to Sri Lankan citizens from 14th April 2015, addressing a gathering at the presidential secretariat Indian Prime Minister Narendra Modi said. “India will soon start direct flights between New Delhi and Colombo,” Modi said. The reserve […]
Sri Lanka’s prospects on crucial European GSP Plus facility is looking brighter
Mar 13, 2015 (LBO) – Sri Lanka’s retrieval of GSP Plus, a system granting tax free entry for the counties goods to the EU market seems brighter, Ministry of Industry and Commerce said in a statement. “In that no less than Hon Jan Zahradil a Vice-Chair of EU Committee on International Trade who met me […]
Sri Lanka’s deputy minister Harsha De Silva responds to controversial bond issue
Mar 12, 2015 (LBO) – Sri Lanka’s Deputy Minister of Policy and Finance, Harsha De Silva commenting on social media said the committee appointed to probe into the recent bond allegations has been given wide range of power and technical support to look into the issue. There has been rising concerns in bond markets over […]
Colombo Stock Exchange to host a series of workshops to empower investors
Mar 11, 2015 (LBO) – The Colombo Stock Exchange will host a series of workshops to empower retail investors engaged in the Stock Market by educating them on the most prudent means of investment, the company said.The workshop is aimed at retail investors and conducted in association with the Institute of Chartered Accountants of Sri […]
Sri Lanka’s gem industry calls for increasing export earnings through value addition: EDB
Mar 11, 2015 (LBO) – Sri Lanka’s coloured stone industry which is the fourth largest export earner in the island should export more value addition gems to contribute better to the country’s’ export earnings , a senior official at Export Development Board (EDB) said. “We are doing our best to achieve the highest value added […]
Sri Lanka appoints a three member committee to probe Treasury bond allegation
Mar 10, 2015 (LBO) – A three member board was appointed today by the Prime Minister of Sri Lanka to probe the alleged Treasury bond allegation, Prime Minister’s office said in a statement.It also said that the government will take necessary steps according to report of findinhs of this committee.The statement reproduced below :- Urgent […]
‘s President to probe irregularities in the stock market
Mar 10, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed a commission of inquiry headed by Supreme Court Justice Priyasath Dep to probe corruption and abuse of power, president’s media said.The newly set up commission will probe into matters including illegal acquisition of lands, irregularities in the stock market and the handling of […]
Sri Lanka development bonds oversubscribed by 3.45 times
Mar 10, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 172.5 million US dollars of bids received from investors.The central bank has accepted 156.5 million US dollars of three year bonds at a rate of 6 month US dollars LIBOR plus a weighted […]
Sri Lanka development bonds oversubscribed by 3.45 times
Mar 10, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 50 million US dollars have been oversubscribed with 172.5 million US dollars of bids received from investors. The offer was opened from 02 to 09 March for bidding with the settlement on 16 March 2015. The central bank has accepted 156.5 […]
Sri Lanka appoints a three member committee to probe Treasury bond allegation
Mar 10, 2015 (LBO) – A three member board was appointed today by the Prime Minister of Sri Lanka to probe the alleged Treasury bond allegation, Prime Minister’s office said in a statement.It also said that the government will take necessary steps according to report of findinhs of this committee. The statement reproduced below :- […]
’s govt. will not allocate money for development projects with no agreements: Finance Ministry
Mar 10, 2015 (LBO) – Sri Lanka’s Finance Ministry will not allocate funds for the development projects which don’t have legitimate agreements, Minister Ravi Karunanayake said earler today in Colombo. “We have not reduced a single cent from the allocation of the development projects which are legitimate,Karunanayake told journalists.We won’t pay the money,if there is […]