Category: Economy and Markets
COPE to consider Auditor General’s report on bond issue Wednesday
June 28, 2016 (LBO) – Sri Lanka’s Parliament appointed Committee on Public Enterprises (COPE) will meet Wednesday to consider the Auditor General’s report on the bond investigation. Parliamentarian and COPE member Dr. Nalinda Jayatissa told LBO, the committee will most probably arrive at a decision on the alleged bond scam based on the findings of the […]
Sri Lanka’s Lion Brewery falls below minimum public holding
June 28, 2016 (LBO) – The minimum public holding of Sri Lanka’s Lion Brewery has fallen below the stipulated float making it obligatory for the company to make an announcement. As per the minimum public holding rules, there are two ways to get listed on the main board of the Colombo Stock Exchange. One option […]
PTL Watch: Mid-tenor yields ease, some foreign buying
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Sri Lanka to impose capital gains tax on stocks, Minister says
June 28 (Reuters) – Sri Lanka intends to impose a capital gains tax on profits from equities, a senior government minister said late on Monday, as the government attempts to shore up its finances to qualify for an IMF loan. Sri Lanka’s cabinet approved reintroducing a capital gains tax on land early this month, but has not said whether […]
‘s Amana Takaful Life announces IPO of Rs75Mn
June 28, 2016 (LBO) – Amana Takaful Life Limited (ATLL), a fully-owned subsidiary of Amana Takaful PLC, has announced an Initial Public Offering (IPO), via an offer for sale of 75 million rupees. ATLL becomes the first segregated life insurer in Sri Lanka to do so following the mandatory segregation of Life and General insurance […]
Brexit vote, UK political confusion keep world and asian markets on edge
June 28 (Reuters) – Britain’s vote to leave the European Union continued to reverberate through financial markets, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook. UK finance minister George Osborne said early Monday that the British […]
Gap between male, female life expectancy narrows in Sri Lanka
June 27, 2016 (LBO) – The difference between female and male life expectancy at birth reduced in 2012 to 6.6 years compared with 8.4 years in 2001, latest data from the statistics office showed. For the years 2011 to 2013, life expectancy is 72.0 years for males and 78.6 for females, while the life expectancies […]
PTL Watch: Bond yields fall, local investor interest
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Abans Finance to raise Rs277mn through private placement
June 27, 2016 (LBO) – The directors of Abans Finance has decided to raise 277 million rupees for the company by way of a private placement of ordinary voting shares. Subject to necessary approvals, the proposed investor, Ironwood Investment Holding (Pvt.) Ltd will purchase 11,067,978 fully paid ordinary voting shares of the company at a […]
Sri Lanka Parliament passes Right to Information Bill
June 25, 2016 (LBO) – Sri Lanka’s Parliament has passed the Right to Information (RTI) bill with amendments on Friday. The main purpose of the Bill is to provide for the Right of Access to Information, to specify grounds on which access may be denied, to establish the Right to Information commission, to appoint Information […]
In Pictures: Swim Week 2017 highlights new designs and Colombo port
Day 1 of Swim Week Colombo kicked off on Friday showcasing designs by Sri Lankan and international designers at the ECT Terminal of the Colombo Port. The designers were: U by Upeksha Hager, Meraki, Juxtapose, heidi klein, Rachel Raj, CHARINI, c.h.a.r.l.e.n.e., and Shivan & Narresh. The venue of Colombo Port was a first, highlighting the […]
Sri Lanka’s Central Bank keeps policy rates steady
June 24, 2016 (LBO) – Sri Lanka’s Central Bank has decided to keep its key interest rates steady for a fourth straight month on Friday, despite rising inflation and high private sector credit growth. The full text of the statement is reproduced below. Monetary Policy Review – June 2016 According to provisional estimates of the […]