Category: Featured
LBR LBO Summit to focus on brand innovation in the digital age
Jul 04, 2016 (LBO) – Sri Lanka’s leading digital strategists and regional thought leaders will take the stage at the 2016 edition of “LBR LBO Brand Summit,” themed “Building Winning Brands in the Digital Age and Strategy Innovation” Lanka Business Online, LBO, will be hosting the annual LBR LBO Brand Summit on Tuesday 12 July […]
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]
‘s new counter-terrorism legislation being finalized: Foreign Minister
June 30, 2016 (LBO) – Sri Lanka is finalizing the first draft of the new counter-terrorism legislation that will replace the Prevention of Terrorism Act, Foreign Minister Mangala Samaraweera said. Addressing the 32nd Session of the UN Human Rights Council in Geneva yesterday Samaraweera said technical assistance for this purpose has been sought from the […]
UN Human Rights commissioner commends Sri Lanka’s progress
June 28, 2016 (LBO) – The UN High Commissioner for Human Rights has commended steps that the Government of Sri Lanka has taken to implement some of the key commitments made in the Sri Lanka sponsored US resolution, even though rapid action could have been taken in other areas. Issuing a special report to the […]
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) – Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing round have recommitted to their bids, a government official said. “The government has already gone through the approval process for these bids, and bidders have recommitted to their […]
Opportunities for value investors, rate hikes limited: JB Securities
June 22, 2016 (LBO) – Sri Lanka’s equity market offers opportunities for value investors as market multiples have contracted, JB Securities says in their latest research report. Although the economy is forecast to grow 4.5 percent in 2016, compared with 4.8 percent last year, further increases in interest rates are likely limited to 25 basis […]
Sri Lanka’s debt higher than B, BB rated countries, Fitch data shows
June 21, 2016 (LBO) – Sri Lanka’s current debt levels are higher than its ‘B’ median peers or the previously rated ‘BB’ median, data from the ratings agency Fitch shows. Sri Lanka’s external funding requirement too is high compared to peers, although it performs better in certain governance metrics and HDI indices. Supporting the rating, […]
”s rating to negative from stable
June 20, 2016 (LBO) – Moody’s Investors Service has today affirmed the government of Sri Lanka’s foreign currency issuer and senior unsecured sovereign ratings at B1 and changed the outlook to negative from stable. Two key drivers underpin the change in outlook to negative from stable, Moody’s Investors Service said. 1) Our expectation of a further weakening in […]
Interview: PickMe has 4,000 vehicles on road, expands to Kandy
Jun 20, 2016 (LBO) – ‘PickMe,’ Sri Lanka’s own mobile taxi hailing solutions provider, says they have close to 4,000 vehicles on the road, with over 2,000 three wheelers, one thousand mini cars, and the rest categorized as sedan cars and vans. The startup, which successfully raised capital in three rounds of funding, has now […]
Sri Lanka port city becomes financial city, new deal by August: PM
June 17, 2016 (LBO) – Sri Lanka’s port city construction will be converted to a financial city with a new agreement which is expected to be signed by August with the China Harbour Engineering Company, the Premier said. Officially announcing the lifting of EU fishing ban, Prime Minister Ranil Wickremesinghe said the port city land […]
Meeting IMF criteria key to improve ratings: Fitch Ratings
June 17, 2016 (LBO) – Sri Lanka still needs to refinance close to 3 billion US dollars for the rest of 2016 and remains vulnerable to shifts in investor sentiment, Fitch Ratings said. Delivering a presentation at a forum, Associate Director of Fitch APAC Sovereigns Sagarika Chandra emphasized that progress on IMF program criteria will […]
Sri Lanka CDS to introduce electronic voting and IPO facility this year
June 16, 2016 (LBO) – Sri Lanka’s Central Depository Systems is looking forward to introduce a fully-fledged electronic IPO and voting system during this year. During an interview, Head of CDS, Nalin Fonseka said the E-IPO system will facilitate inward and outward payments from investors efficiently and will offer other benefits such as facilitation of […]