First Capital Treasuries announces Rs750mn debenture issue
Jan 23, 2020 (LBO) – First Capital Treasuries, the Primary Dealer arm and a subsidiary of First Capital Holdings has announced that it intends to issue …
Economy & Markets
Tax changes included in proposed Inland Revenue Amendment Bill
Jan 22, 2020 (LBO) – Sri Lanka’s Finance Ministry announced the list of tax changes introduced in the proposed Inland Revenue Amendment Bill which is to be …
Viraj Dayaratne appointed as Chairman of SEC
Jan 22, 2020 (LBO) – Additional Solicitor General Viraj Dayaratne PC has been appointed as the Chairman of the Securities and Exchange Commission of Sri …
Sri Lanka’s inflation increased to 6.2-pct in December
Jan 22, 2020 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index increased to 6.2 …
Five forensic audits completed at a cost of Rs275mn: Central Bank
Jan 21, 2020 (LBO) – Sri Lanka’s Central Bank says that out of the six forensic audits initiated, five forensic audits have been completed so far at a …
Speaker decides to table Central Bank’s forensic audit report
Jan 21, 2020 (LBO) – Speaker of the Parliament of Sri Lanka, Karu Jayasuriya has decided that it is appropriate to table the forensic audit report on the …
Cabinet nod to amend Inland Revenue Act; to be presented to Parliament
Jan 21, 2020 (LBO) – Sri Lanka’s Cabinet of Ministers have approved the proposal to amend the Inland Revenue Act to reflect new tax proposals …
Debt moratorium for SMEs, credit negative for banks, unlikely to support economic recovery
Jan 20, 2020 (LBO) – Sri Lanka’s debt moratorium for SMEs is credit negative for Sri Lankan banks and the sovereign because it risks increasing …
Trade deficit narrows marginally in Nov with imports, exports declining
Jan 17, 2020 (LBO) – Sri Lanka’s trade deficit contracted marginally in November 2019 (year-on-year), with both imports and exports declining, the …
Milford Ceylon buys 19-pct of Softlogic Life
Jan 17, 2020 (LBO) – Milford Ceylon Pvt Ltd., a Mauritius-based fund yesterday bought a 19 percent stake in Softlogic Life Insurance PLC for Rs. 2.6 …
S&P revises Sri Lanka’s outlook to negative; ratings affirmed at ’B/B’
Jan 16, 2020 (LBO) – Ratings agency Standard & Poor’s said it revised its outlook on Sri Lanka’s credit rating to negative from stable, citing …
China reaffirms steadfast support to Sri Lanka
Jan 16, 2020 (LBO) – The Chinese Foreign Minister and State Councilor Wang Yi met with the Minister of Foreign Relations Dinesh Gunawardena recently and …
World Bank forecasts Sri Lanka’s growth at 3.3-pct in 2020
Jan 14, 2020 (LBO) – The World Bank has forecast Sri Lanka’s economic growth for 2020 at 3.3 percent, the bank said in a statement. In its latest …
President requests Japan to invest in high tech assembly plants in Sri Lanka
Jan 13, 2020 (LBO) – Measures will be taken to further strengthen long-standing bilateral relations between Japan and Sri Lanka, Japanese State Minister for …
Sri Lanka official reserves improve to USD7.6bn by end December
Jan 09, 2020 (LBO) – Sri Lanka’s gross official reserves were 7,638.5 million US dollars by the end of December last year, up from 7,520.4 million US …
Sri Lanka achieves 1.9Mn revised tourists arrival target for 2019: SLTDA
Jan 07, 2020 (LBO) – Despite 2019 being a tough year for the tourism industry, Sri Lanka has achieved the revised tourists’ arrival target for 2019 …
Sri Lanka’s new Banking Act to facilitate banks in Colombo Intl. Financial Centre
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank has initiated drafting a new Banking Act and expects to complete its enactment in 2021. The new Banking …
Sri Lanka’s Central Bank to maintain inflation within 4 to 6-pct
Jan 06, 2020 (LBO) – Sri Lanka’s Central Bank expects to maintain inflation within a range of 4-6 percent through a transparent, coherent, and …
CB Chief urges Sri Lanka banks to rethink its credit disbursement policies
Jan 06, 2020 (LBO) – Central Bank Governor Professor W D Lakshman urged Sri Lanka’s banking sector to rethink its credit disbursement policies, as the …
‘Manufacturing in 2020: Connecting machines to networks and companies to end-consumers’
Antony Bourne – President- IFS Industries While change is buffeting the industrial manufacturing industry from a number of directions, the most …