Category: Economy and Markets
Sri Lanka corporate leaders raise concerns over ad hoc tax changes
May 09, 2016 (LBO) – Members of the main committee of the Ceylon Chamber of Commerce has observed that consistency in policy should be a top priority of the government in order to build confidence and boost private sector investment. Ceylon Chamber said in a statement that the members of the Committee at its latest […]
PTL Watch: Market subdued ahead of bond auction
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SEC imposes restrictions on Entrust Capital Markets activities
May 09, 2016 (LBO) – Sri Lanka’s securities regulator has imposed several restrictions on Entrust Capital Markets (Pvt) Ltd (ECMPL) following regulatory concerns on the activities of the broker firm. The Securities and Exchange Commission in a letter has directed the firm that client funds are not withdrawn except with the prior written approval of […]
Czech eyes hydro power, sugar and aviation in Sri Lanka
May 09, 2016 (LBO) – Czech Republic is currently looking for trade and investment opportunities in Sri Lanka, a business delegation headed by Czech Ambassador said. The Board of Investment recently hosted representatives of leading Czech companies including Viktovice Power Engineering, Eldis, Fans, Skoda Doosan Power and Technoexport. Ambassador Milan Hovorka brought to the attention […]
‘ve crossed rubicon in climate change: Chamath Palihapitiya
May 09, 2016 (LBO) – Chamath Palihapitya, the Sri Lankan-born venture capitalist and tech visionary, highlighted several industry trends recently, ranging from Amazon’s valuation to funding fallacies in Silicon Valley. Commenting on climate change, Palihapitiya said humanity had crossed the rubicon, and new technologies will be needed to fix the problem. “Nothing takes away from […]
‘s trade gap narrows 9.1-pct in January 2016
May 06, 2016 (LBO) – Sri Lanka’s exports fell 2.5 percent to 893.9 million US dollars in January 2016 from a year earlier while imports fell at a faster 5.5 percent to 1,589.1 million US dollars, official data showed. The deficit in the trade account contracted in January 2016, by 9.1 percent from a year […]
Sri Lanka’s Nestlé unit net up 10-pct in March 2016 quarter
May 06, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group, said net profits rose 10 percent to 1.27 billion rupees in the March 2016 quarter from a year earlier. The firm reported earnings of 23.74 rupees per share for the quarter against 21.56 rupees reported a year earlier. The stock closed […]
PTL Watch: Bond yields tick higher for a second day
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No one solution to reform SOEs, says Dep Minister at Advocata launch
May 06, 2016 (LBO) – Sri Lanka’s state-owned enterprises need individually crafted approaches for reforming them and one solution may not suit every enterprise, Deputy Minister Eran Wickramaratne said. Wickramaratne was speaking at the launch of Advocata Institute, a new independent policy think tank based in Colombo, and its report on SOEs. The institute will […]
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May 05, 2016 (LBO) – With slower growth in the next few years and signs of financial stress for some state-owned enterprises, achieving significant fiscal consolidation will be challenging, Moody’s said in a statement. The IMF mission chief mentioned a targeted deficit at 3.5 percent of GDP in 2020. The full text of the statement […]
Jetwing Lighthouse to build new hotel at Unawatuna for Rs350mn
May 05, 2016 (LBO) – Sri Lanka’s hotels and travel sector front runner Lighthouse Hotel has decided to construct a new hotel through incorporation of a fully owned subsidiary. The company said in a stock exchange filing that the Board of Directors has approved a proposal to build the hotel with 36 rooms at Unawatuna area for […]
PTL Watch: Some profit taking in Sri Lanka bonds
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