Category: Economy and Markets
Location, access to markets key for investors in Sri Lanka: CCC Survey
Apr 06, 2016 (LBO) – Sri Lanka is a unique business destination for foreign investors because of its strategic location and access to both east and west sea routes, a recent survey conducted by the Ceylon Chamber of Commerce found. The survey, conducted among the prospective investors who attended the Ceylon Chamber’s ‘Sri Lanka Investment and Business Conclave 2016’ held […]
S&P and CSE Sector and Industry Group Indices launched
Apr 06, 2016 (LBO) – S&P Dow Jones Indices, one of the world’s leading index providers, and the Colombo Stock Exchange today jointly announced the launch of the S&P/CSE Sector and Industry Group Indices. The comprehensive index series is designed to measure the performance of various sectors and industry groups within the Sri Lankan equity […]
Sri Lanka govt approves compensation for Rathupaswala victims
Apr 06, 2016 (LBO) – President Maithripala Sirisena has given his approval to provide 4.68 million rupees as compensation for 33 victims of Rathupaswala incident, a statement said. The President will present the compensation money to 24 persons, who are fully disabled or partially disabled or who are admitted to hospitals for treatment in the […]
Panama Papers rock financial world, three Sri Lankan companies in list
Apr 05, 2016 (LBO) – A huge leak of documents has rocked the financial world revealing how some among the rich and powerful use tax havens to hide their wealth. With data still being leaked, three Sri Lankan companies are on the list, according to an interactive map making the rounds on social media forwarded […]
PTL Watch: Short tenor yields dip, more activity in bonds
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SEC to engage listed companies on Minimum Public Float
Apr 04, 2016 (LBO) – The Securities and Exchange Commission of Sri Lanka (SEC) with the participation of the Colombo Stock Exchange (CSE) will conduct a forum to discuss the rules imposed on maintaining a Minimum Public Float. The forum will be held on the 6th of April 2016 at Cinnamon Lakeside Colombo. “Minimum Public […]
India likely to cut rates, eyes on FOMC minutes
Apr 04, 2016 (LBO) – Both the Reserve Bank of India and the Reserve Bank of Australia will announce interest rate decisions on Tuesday, with Moody’s Analytics expecting the RBI to cut its policy rate by 25 basis points to 6.5 percent. The Monetary Authority of Singapore will also meet this week, and analysts expect […]
Final decision on VAT next week, says State Finance Minister Lakshman Yapa
Apr 01, 2016 (LBO) – The final decision on Value Added Tax will be taken by next Friday, State Finance Minister Lakshman Yapa Abeywardena told LankaBusinessOnline a short while ago. “No decision has been taken yet. It will be decided next Friday,” Abeywardena said. Inland Revenue Department has issued a notice to the VAT registered […]
Sri Lanka’s BOI signs 16 agreements for first 2 months of 2016
Apr 01, 2016 (LBO) – The Board of Investment of Sri Lanka has signed 16 new project agreements for the first two months of this year. The said agreements represent a cumulative future investment of 110 million US dollars, the BOI said in a statement. The investment office further said these projects will be generating […]
Truth behind USD 6,361mn loans of this government: Harsha de Silva
Apr 01, 2016 (LBO) – Sri Lanka’s Deputy Foreign Minister Harsha de Silva has denied the allegations that present government is taking huge loans but not utilizing the same for any productive purpose. The opposition recently charged the present government has taken 6,361 million US dollars in foreign loans in its fifteen-month lifespan thus far but […]
I practiced strict financial discipline & management, says President
Apr 01, 2016 – Sri Lanka’s President Maithripala Sirisena says he has fulfilled his duties and responsibilities in an appropriate manner during the last year when it comes to financial discipline and management of the country. It is the responsibility of the politicians and public officials to pay more attention to financial discipline and management, […]
Colombo inflation accelerates 2.0-pct in March 2016
Mar 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.0 percent in March 2016 from a year earlier, down from 2.7 percent in February 2016 with the inflation index dropping 1.1 percent in the month, the state statistics office said. As per the statistics office, Year on year inflation of […]