Category: Economy and Markets
Sri Lanka to reduce fuel price if world oil prices drop: Ravi K
July 17, 2015 (LBO) – Sri Lanka’s government will consider a further reduction in the fuel price if oil prices in the world drop, the Finance Minister said. “If the world oil prices drop then we will also reduce the fuel prices in the country but the prices have not dropped yet,” Ravi Karunanayake, Finance […]
Effective public service and service delivery, crucial for competitiveness of economy: Think Tank
July 17, 2015 (LBO) – An efficient service delivery in the public service is crucial not only to achieve a competitive economy but also to meet the needs of poor and vulnerable sections of the society, a think tank said. “The efficiency of the public service, in terms of policy development and service delivery, is […]
Sri Lanka stocks close up 0.8-pct: Two week high
July 16, 2015 (LBO) – Sri Lanka’s stocks closed up 0.82 percent on Thursday, on two week high with telecom and banking sector stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 57.95 points higher at 7,124.14 up 0.82 percent. The S&P SL20 closed 33.50 points higher at 3,991.21 up 0.85 […]
Sri Lanka’s ministers to pay for govt vehicles and fuel if used for election campaign
July 16, 2015 (LBO) – Sri Lanka’s government asked Prime Minister, the Ministers, State Ministers, Deputy Ministers and the officials to pay a fee for using their official vehicles to promote their political party or candidature in upcoming general election.The decision was made at a meeting held between the Commissioner of Elections and the General […]
Sri Lanka to pay revised pensions to pre-2006 retirees with August pension
July 16, 2015 (LBO) – Sri Lankan government has decided to revise the pensions of public servants who retired before the implementation of Public Administration Circular 6/2006 which were issued revising the salaries of public service, based on the salary revised by above circulars.The necessary instructions have been given under the Public Administration Circulars No.16/2015. […]
””
July 16, 2015 (LBO) – Sri Lanka’s Fitch Ratings has assigned People’s Leasing & Finance proposed senior unsecured debentures of up to 6 billion rupees an expected national long term rating of ‘AA-(lka)(EXP)’. The final rating is contingent on the receipt of the final documents conforming to information already received, Fitch Ratings said. The issue […]
Sri Lanka stocks close up 0.6-pct: Banking gains
July 15, 2015 (LBO) – Sri Lanka’s stocks closed up 0.56 percent on Wednesday, for a fifth consecutive session with banking sector showing gains, brokers said. The Colombo benchmark All Share Price Index closed 39.19 points higher at 7,066.19 up 0.56 percent. The S&P SL20 closed 37.38 points higher at 3,957.66 up 0.95 percent. Turnover […]
Sri Lanka Dankotuwa Porcelain gets new CEO
July 15, 2015 (LBO) – Sri Lanka’s Dankotuwa Porcelain said, Wasaba Jayasekera was appointed as the Chief Executive Officer with effect from 15th July 2015.Jayasekera holds a Bachelor’s degree in physical science, from the University of Kelaniya Sri Lanka and a Master of Business Administration degree from the Postgraduate Institute of Management, University of Sri […]
Sri Lanka JKH’s Cinnamon Life targets future digital world: Deputy Chairman
July 15, 2015 (LBO) – Sri Lanka’s John Keells Holdings, a listed blue chip company said that its 850 million US dollar mixed development project of “Cinnamon Life” is designed to cater to future digital world offering a virtual experience. “Cinnamon Life – Now that is a brick and motor investment. However we believe, if […]
Sri Lanka businesses; 90% sole ownership, 25% run by females: Census and Statistics Dept.
July 15, 2015 (LBO) – Sri Lanka has over 90 percent of sole ownership businesses in the island while 25 percent of the establishments are run by women entrepreneurs, a recent census showed.The Census and Statistics Department released data of its first Economic Census 2013/14 on the Industry, Trade and Services sectors. “The census has […]
Sri Lanka Litro to reduce gas prices: Can further reduce after exposing corruption
June 14, 2015 (LBO) – Sri Lanka’s state run, Litro Gas Lanka says it will reduce the prices of Litro Gas refills with effect from mid night, today.“We are pleased to inform our customers that due to the new policies and procedures adopted, we have obtained the necessary approval to reduce our prices of Litro […]
Sri Lanka sells Rs15.72bn in three and eight year bonds
July 14, 2015 (LBO) – The issue of treasury bonds amounting to 20.00 billion rupees have been oversubscribed with 50.97 billion rupees of bids received from investors. The Central Bank has accepted 4.67 billion rupees of three years and three months bonds maturing on 15 October 2018 at a weighted average yield rate of 8.18 […]