Category: Economy and Markets
Sri Lanka stocks close up 0.5-pct
Oct 29, 2014 (LBO) – Sri Lanka’s stocks closed 0.54 percent higher with banking stocks gaining amid continued net foreign buying, brokers said. Lanka IOC closed 2.80 rupees higher at 51.80 rupees and Lanka Orix Leasing Company closed 2.80 rupees higher at 90.00 rupees, contributing most to the index gain. Hatton National Bank closed 4.00 […]
Sri Lanka to promote local milk production: Budget 2015
Oct 28, 2014 (LBO)-Sri Lanka to increase the guaranteed price of liquid milk to 60 rupees per liter in order to increase local milk production and popularize the local milk production. President Mahinda Rajapakse proposed this presenting the budget 2015, at the Parliament, Colombo. I now propose to increase the guaranteed price of liquid milk […]
Sri Lanka stocks close higher
Oct 28, 2014 (LBO) – Sri Lanka’s stocks closed 0.08 percent higher with tobacco and beverage stocks gaining amid strong foreign buying into diversified holdings, brokers said. The Colombo benchmark All Share Price Index closed 6.04 points higher at 7,227.12, up 0.08 percent. The S&P SL20 closed 6.12 points lower at 4,008.10, down 0.15 percent. […]
Sri Lanka stocks close up 0.1-pct
Oct 27, 2014 (LBO) – Sri Lanka’s stocks closed 0.11 percent higher with index heavy John Keells Holdings contributing most to the index gain, brokers said. Foreign investors bought 374.85 million rupees worth shares while selling 377.37 million rupees worth shares. Dialog Axiata closed 20 cents higher at 12.20 rupees and John Keells Holdings closed […]
Sri Lanka to continue relaxing exchange controls: Deputy Governor
Oct 27, 2014 (LBO) – Sri Lanka will continue to liberalize exchange controls to encourage the investments that needed to maintain high economic growth and to link more with global business Central bank Deputy Governor P Samarasiri said.He said the exchange control activities started in Second World War to protect the foreign exchange earnings they […]
Sri Lanka Chamber welcomes budget 2015
Oct 27, 2014 (LBO) –Sri Lanka’s Ceylon Chamber of Commerce welcomes the ‘National Budget of 2015’ which is presented to the parliament last week, the chamber said in a media release. The Media Release by Ceylon Chamber of Commerce The Ceylon Chamber of Commerce welcomes the commitment to continued fiscal consolidation in the Budget 2015, […]
Sri Lanka super markets to maintain VAT and NBT but Small Businesses exempted
Oct 25, 2014 (LBO) – Sri Lanka president suggested the super markets to maintain value added tax (VAT) and national building (NBT) tax as at 100 million rupees per quarter.He also suggested to exempt all the small and medium businesses who earns 15 million rupees or below per year from VAT and NBT. The number […]
VAT Reduced: Payee tax limited: Budget deficit to be reduced: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka President suggested to reduced value added tax to 11 percent and limited payee tax to 16 percent, thought the budget 2015.Sri Lanka plans to reduce budget deficit to 4.6 percent in 2015. Currently the value added tax is 12 percent in the island. The government plans to reduce […]
Sri Lanka to reduce water chargers: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka budget 2015 suggests to reduce the chargers of the first 25 units of household water supply by 10 percent.Also budget 2015 plans to invest 750 million rupees to start new water supply schemes, giving more importance to places with kidney and water related diseases. President Mahinda Rajapaksa, in […]
Sri Lanka government is to allocate 15,000 million rupees for irrigation projects: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka’s government to allocate 15,000 million rupees to develop irrigation system in the Island, President Mahinda Rajapaksa said presenting a budget for 2015.Sri Lanka which has a rich history in hydrology has some of the best man-made lakes in the world.Most of the island’s lakes or Samudraya’s were built […]
Sri Lanka small medium tea planters subsidy increased: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka government to increase replanting subsidy to small medium tea planters from 875,000 rupees to one million rupees per acre, President Mahinda Rajapaksa said presenting a budget for 2015.The extent of the island’s tea plantations is 206104 hectares of which 70 percent are small holdings that are cultivated by […]
Sri Lanka to increase certified price for rubber: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka President in his capacity as the Minister of Finance said the government is expecting to increase the certified price for rubber to 300 rupees per kilogram and increase the Cess tax on rubber imports by 10 rupees per kilo.The funds will be allocated to modernise the Tea (TRI) […]