Category: Economy and Markets

tax

Sri Lanka seeks to connect tax payers with revenue office online

Oct 30, 2015 (LBO) – Sri Lanka is looking at the possibilities of connecting the island’s revenue collection office with tax payers directly to streamline tax payments. Central Bank Governor Arjuna Mahendran said they are considering SWIFT payment gateway as a one option. “Internet payment solution system called SWIFT can link up the tax payer with […]

stocks-down-lbo

Sri Lanka stocks close down 0.3-pct: Net foreign out flow 319mn

Oct 29, 2015 (LBO) – Sri Lankan stocks closed down at 0.34 percent on Thursday with losses in index heavy stocks after a two week high, brokers said. The Colombo benchmark All Share Price Index closed down 23.96 points at 7,070.13 lower 0.34 percent. S&P SL20 closed 12.11 points lower at 3,827.89 down 0.32 percent. […]

orange

Sri Lanka to obtain arid climate resistant fruit species from Egypt

Oct 29, 2015 (LBO) –  Sri Lanka will enter into a memorandum of understanding between the ministry of agriculture of Sri Lanka and the ministry of agriculture and land reclamation of Egypt to obtain arid climate resistant fruit species, particularly planting  materiel of orange species, along with the technology applicable. Accordingly it has been planned […]

Vehicles

90-pct vehicle leasing facility to come into effect today

Oct 29, 2015 (LBO) – Sri Lanka’s Finance Ministry said that a 90 percent loan margin of leasing facility for motor vehicles will come into effect from Thursday.An official notice will be sent out to the government and private financial institutions today, the ministry said.From September 15, 2015, the 100 percent loan to value was limited […]

solar-power

Browns Capital invest Rs407mn in Sri Lanka’s solar power plant

Oct 29, 2015 (LBO) – Browns Capital PLC had invested 407 million rupees in Saga Solar power private limited who are in the business of solar power to acquire a 50.10 percent equity, the company said in a filing to Colombo Stock Exchange.The firm said it bought 38.7 million shares of Saga Solar Power, who […]

Federal-Reserve

U.S. Fed leaves open possible Dec rate hike

Oct 29, 2015 – (LBO) – The U.S. Fed has indicated that a December rate hike is a possibility outlining how economic activity has been expanding at a moderate pace.“In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress–both realized and expected–toward its objectives […]

old

Income security for older persons in Sri Lanka, a key future concern

Oct 29, 2015 (LBO) – Sri Lanka’s pension schemes need to be reevaluated as an adequate pension is essential to ensure income security for the elderly to support the fast growing aging population, an economist said.“Providing pension coverage for future older generations could be a challenge,” Nisha Arunatilake of Institute of Policy Studies of Sri […]

central bank of sri lanka

Sri Lanka’s sovereign bond issue oversubscribed by 2.2 times: Central Bank

Oct 28, 2015 (LBO) – Sri Lanka’s Central Bank on behalf of the Government has raised 1,500 million US dollars through a 10-year International Sovereign Bond issue on Tuesday. Final order books stood at 3.3 billion US dollars from 290 investor accounts, achieving an oversubscription ratio of 2.2 times. This marks Sri Lanka’s ninth US […]

stocks-up-lbo

Sri Lanka stocks close up 0.15-pct: Institutional buying

Oct 28, 2015 (LBO) – Sri Lankan stocks closed higher at 0.15 percent on Wednesday with gains in index heavy stocks and institutional buying and foreign investor activity, brokers said. The Colombo benchmark All Share Price Index closed up 10.61 points at7,094.09 up 0.15 percent. S&P SL20 closed 14.06 points higher at 3,841.89 higher 0.37 percent. […]

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