Category: Banking and Finance
Sri Lanka’s proposed finance bill discourages private sector investment: CCC
Oct 05, 2015 (LBO) – Sri Lanka’s Finance Bill of March 2015 sends negative signal to the private sector and discourages investment, the Ceylon Chamber of Commerce (CCC) said in a statement, Sunday. “ The CCC believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private […]
Sri Lanka up five notches in Global Competitiveness Report
Oct 02, 2015 (LBO) – Sri Lanka has moved up five ranks to 68 from 73 in a global index of the world’s most competitive economies for the year 2015-16.The Global Competitiveness Report 2015-2016 assesses the competitiveness of 140 world economies.The report, which serves as a reference point for investors worldwide, comes in a year […]
Amalgamated DFCC Bank starts operations today
Oct 01, 2015 (LBO) – Amalgamated DFCC Bank has officially kick-started its commercial operations from today on-wards after receiving the approval from the registrar general on Thursday.The Bank has received the Certificate of Amalgamation in terms of Section 244 (1) (a) of the Companies Act.Accordingly, the DFCC Vardhana Bank has been amalgamated with DFCC Bank […]
Sri Lanka’s exports and imports both declined in July 2015: Central Bank
Sep 29, 2015 (LBO) – Sri Lanka’s exports earnings recorded a decline of 2.6 per cent, year-on-year, to 932 million US dollars in July 2015, reflecting a year-on-year decline in both industrial and agricultural exports.“Exports of all sub categories of industrial sector, except transport equipment, petroleum products and animal fodder, declined in July 2015, owing […]
Private health care driven by aging population and rising income: Fitch
Sep 28, 2015 (LBO) – Sri Lanka’s private hospitals are poised for strong growth, with the rise ageing population and rising per capita income, a report said.“Nearly nine percent of the islands population are over 65 years of age and over at end 2014 and likely to double by 2030 and the public sector alone […]
Sri Lanka shipping can play a vital role in economy: Pandithage
Sep 27, 2015 (LBO) – Sri Lanka’s maritime industry can boost and support the islands efforts in international trade and investments to enable further long-term growth, a senior official said. “Sri Lanka has to be a hub for more than South Asia to realize the full potential of our valuable ports and shipping,” Mohan Pandithage, […]
Sri Lanka’s Pan Asia Bank debentures oversubscribed
Sep 23, 2015 (LBO) – Sri Lanka’s Pan Asia Bank said a listed debt offer for four billion rupees had been oversubscribed Wednesday and is closing on the same day. The bank offered 20 million debentures at 100 rupees each with an option to issue 20 million further. The basis of allotment is to be […]
OPEC more bullish on oil prices, says report
Sept 21, 2015 (LBO) – OPEC is more bullish on oil prices and expects 80 dollars a barrel by 2020 with a fall in production elsewhere, according to a media report. Some analysts have predicted 20 dollars a barrel in the short term, but OPEC expects a fall in U.S. production tied to low prices, […]
Sri Lanka stocks close down 0.3-pct: Continued losses in Finance and Leasing
Sep 17, 2015 (LBO) – Sri Lankan stocks closed down 0.33 percent on Thursday following losses in finance and leasing stocks and in anticipation of a US rate hike tonight, brokers said. The Colombo benchmark All Share Price Index closed down 23.89 points at 7,113.51 lower 0.33 percent. S&P SL20 closed 14.55 points lower at […]
Sri Lanka’s BOC to issue Debenture
Sep 16, 2015 (LBO) – Sri Lanka Bank of Ceylon 50,000,000 unsecured, subordinated redeemable at an issue price of 100 rupees, the company said in a stock exchange filling. The filing said that the Colombo stock exchange has approved in principal an application for listing the debt securities of the company. The company said it […]
CEB announces new off peak tariff to charge electric vehicles
Sep 16, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board (CEB) is offering off peak power at 13.00 rupees a unit to charge electric cars at home, a statement said. “In order to facilitate electric vehicle charging, a low off peak tariff of Rs 13 per unit kWh has been offered for seven hours starting […]
Asian stocks up helped by Wall Street rally
Sep 16, 2015 (LBO) – Asian markets opened positive on Wednesday following a day of positive trading in the US markets on Tuesday, foreign media reported. The US markets showed gains of over one percent as investors anticipated a positive two day Federal Reserve meeting that kicks off on Wednesday. However, analysts are still divided […]