Category: Economy
SEC considers introducing a mandatory rating for stock broking firms : SEC Head
June 24, 2015 (LBO) – Sri Lanka’s Security Exchange Commission says that it is looking at possibilities of introducing a mandatory rating for stock broking firms in the island.“Stock broking companies perform an important role in the capital market by facilitating trades for investors,” Thilak Karunaratne, Chairman of SEC said. “In the recent past the […]
Sri Lanka to strengthen rupee to 129 in next two weeks: Finance Minister
June 23, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says the government will strengthen the rupee to 129/130 against the US dollar in the coming two weeks. “When we tookover the government it was at 133.25 rupees to the US dollar and now it is at 133.90 rupees,” Karunanayake told reporters Tuesday. “In two […]
Sri Lanka’s BOI signs Rs24.58bn investments from Jan – May 2015
June 23, 2015 (LBO) – Sri Lanka’s Board of Investment said that it has signed 42 investment agreements worth 24.58 billion rupees with enterprises representing a vast range of sectors which reflect the growing diversification of Sri Lanka’s economic base and exports. The agreements includes foreign investment of 6,849 million rupees or 51 million US […]
I am willing to serve Sri Lanka for few more years: Former CB Governor
June 23, 2015 (LBO) – Sri Lanka’s former Governor of the Central Bank, Ajith Nivard Cabraal says he is looking forward to use his knowledge and capabilities on behalf of the country. In a live interview broadcast through a local TV station, Cabraal revoked his past experiences.“I worked for the private sector for 33 years […]
Sri Lanka obtains Rs 684 bn borrowings for the 4 months to April 2015
June 22, 2015 (LBO) – Sri Lanka’s new administration has obtained 684.2 billion rupees gross borrowings for the first four months to April 2015, the cabinet spokesperson said last week. The approved amount of loans to be taken in the year 2015 is 1,780,000 million or 1780 billion.According to the data submitted by Ministry of […]
‘s state-owned enterprises in commercial business skew the market: Mano
June 22, 2015 (LBO) – Sri Lanka State-Owned Enterprises in commercial business have an unfair advantage over other private companies which leads to a skewed market, a private enterprise leader said. This problem is compounded when the public is not aware of the situation due to an unavailability of information, he added. “ In my […]
Watawala Plantation share purchase by T Sinthilverl
Jun 22, 2015 (LBO) Sri Lanka’s Watawala Plantations in a stock exchange filing said that T Sinthilverl has purchased 457,301 shares of Watawala Plantations on 19, June for a price ranging 22.50 – 23.00 rupees. “This increases his holding to 23,788,134 shares,” the statement said.His holding in the share capital has now increased to 10.05 […]
Mahinda Rajapaksa is afraid of me: Ravi Karunanayake
June 19, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says former President Mahinda Rajapaksa is afraid of him and evading the debate against him.“I see that Mahinda Rajapaksa is afraid, inexpert and doesn’t want to attend this debate,” Karunanayake charged.“Since Mahinda Rajapaksa is not coming, I’ll debate with Bandula on next Tuesday and […]
Ravi challenges MR again, asks for debate
June 18, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake challenged former Finance Minister and President Mahinda Rajapakse again to come for a debate on the national economy and financial policies.“I challenged former President Mahinda Rajapakse to debate to talk about the economy and what they did to the country at a public forum […]
Sri Lanka mulls national policy for economy after polls
June 17, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that the government plans to bring a national policy for the economy following the scheduled general election and the forming of a new government.“A National policy needs to be brought in.At the moment it is still a fragile situation,” Ravi Karunanayake told LBO […]
Investments will flow into Sri Lanka after polls: CBK
June 16, 2015 (LBO) – Investors are waiting for the upcoming election to finish in order to bring in new projects to Sri Lanka, former President Chandrika Bandaranayake Kumaratunge said.“We need to bring in investments and now the investors are ready to come,” she said at a recent media conference. “Because they know that the […]
Developing countries to face tough challenges in 2015: World Bank
June 11, 2015 (LBO) – The World Bank says, that developing countries would face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs as they adapt to a new era of low prices for oil and other key commodities, resulting in a fourth consecutive year of disappointing economic growth […]