Category: Economy and Markets
Fitch downgrades Kotagala Plantations to CC (lka) on worsening liquidity
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”s Bank buys PMF land in Colombo
May 24, 2017 (LBO)- People`s Merchant Finance (PMF) had sold its 108-perch property in Colombo 02 to People’s Bank for 1.04 billion rupees in order to help settle debt. “The funds will be used to strengthen the finance company’s core capital in order to meet minimum capital requirements under the finance companies directive no. 01 […]
‘s retail sector, says Takas CEO
May 24, 2017 (LBO) – Sri Lanka’s online retail sector is booming, which poses a threat to traditional retail stores. Online stores too are battling it out for market share. Lanka Business Online spoke to Lahiru Pathmalal, the CEO of Takas.lk, one of the top online retailers in the island, to find out how the […]
PTL Watch: Sri Lanka bond yields flat in thin trade
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Ravi K bids farewell at Finance Ministry
May 23, 2017 (LBO) – Sri Lankan ex- Finance Minister Ravi Karunanayake, who was sworn in as the new foreign affairs minister at the Presidential Secretariat Monday, visited his former ministry to thank officials and personal staff and bid farewell. Minister Ravi Karunanayake thanked all ministry officials and his private staff who assisted him in […]
Online property searches in Colombo up 28-pct in Q1: Lamudi
May 02, 2017 (LBO) – Property portal Lamudi’s real estate market report on Sri Lanka says that there is a 28 percent increase in searches for property in Colombo in the first quarter of 2017 against the same period last year. Between 2014 and 2015, data from Lamudi showed a 20 percent increase in searches […]
John Keells to encourage innovators with Open Innovation Challenge
May 02, 2017 (LBO) – Sri Lanka’s blue chip John Keells Holdings plans to boost local creative and intellectual talent with the launch of its second John Keells X “Open Innovation Challenge 2017” The programme will allow teams of aspiring innovators to compete for a chance to win entry into a six-month accelerator programme at […]
Sri Lanka vehicle registrations rebound to 39,173 units in March: JB Securities
May 02, 2017 (LBO) – Total vehicle registrations in Sri Lanka recorded 39,173 units in March, significantly up from 30,036 the previous month, with a rebound in two-wheeler registrations, JB Securities said in a research note. On most categories, there was a rebound due to higher number of working days and pre-holiday season push from […]
EU Parliament rejects motion to deny GSP+ for Sri Lanka
Apr 27, 2017 (LBO) – Sri Lanka won the vote in Brussels by 436 against and 119 in favor for the motion to deny GSP plus for Sri Lanka. A group of EU parliamentarians last week forwarded a motion to deny Sri Lanka access to GSP Plus, citing the slow pace of essential reforms in […]
Next IMF tranche by June, reserves comfortable by year end: Ravi
Apr 27, 2017 (LBO) – Sri Lanka’s Finance Minister said he was optimistic about talks on reaching a staff level agreement with the International Monetary Fund for the next phase, and that the next tranche would be released by June. “I think the tranche that was due April will come by June, there were some technical difficulties like […]
Higher growth for Sri Lanka will depend on addressing structural issues: CB
Apr 27, 2017 (LBO) – Sri Lanka’s economic performance in 2016 reconfirmed the necessity of addressing deep rooted structural issues, in order to enable the country to progress towards a higher growth trajectory, the Central Bank said. “Along with strengthening macroeconomic fundamentals through improved fiscal performance and the conduct of monetary policy in a forward […]