Category: General Services
Colombo Stock Exchange to launch new board for SME sector security listings
June 29, 2018 (LBO) – Sri Lanka’s Securities and Exchange Commission with the Colombo Stock Exchange will be launching a Small and Medium Enterprise Board for the SME sector next week. The SME Board which is to be launched for the first time in Sri Lanka will provide an opportunity for the SME sector to […]
Noteworthy asset quality deterioration in Sri Lankan finance companies
June 28, 2018 (LBO) – ICRA Lanka, a group company of Moody’s Investors Service is cognisant of the asset quality deterioration in licensed finance companies in Sri Lanka, during the financial year ended March 31, 2018. “As per our analysis about 100bps increase (5.82% in March 2018 vis-s-vis 4.89% in March 2017) in gross NPA (non-performing […]
Japan gives Yen 265Mn for Sri Lanka human resources development scholarships
Jun 26, 2018 (LBO) – The Government of Japan has agreed to offer a grant assistance of 265 million Yen (approximately 374 million rupees) to provide human resources development scholarships for the Sri Lankan public sector. The Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme was introduced in Sri Lanka in 2010 by […]
Sri Lanka’s first 3D film to be produced about drug trade
June 25, 2018 (LBO) – Teledrama and film director Rohan Welivita is to produce Sri Lanka’s first 3D film which will be based on the drug trade spreading across the country. The script has been written by Welivita himself and the working title of this film has been named as “Shakthi”. The film depicts the […]
Cabinet approval for electricity pricing mechanism expected by Sept: IMF
June 22, 2018 (LBO) – Cabinet approval for an automatic tariff adjustment mechanism for electricity under the 2015 tariff methodology is expected by September, an International Monetary Fund (IMF) report said. The 2015 tariff methodology introduces price stability by fixing tariffs over a period of six months, protecting end-users from volatility in the exchange rate, […]
Sri Lanka’s unabated credit growth in real estate sector raises concerns: IMF
June 21, 2018 (LBO) – Sri Lanka’s significant credit growth for more than two consecutive years warrants attention, an International Monetary Fund (IMF) staff report released yesterday said. While a portion of this credit growth can be associated with financial deepening, loan concentration, notably in the real estate sector, raises concerns, the report added. The […]
Sri Lanka Fin Min calls on professionals to step up and pay their taxes
Jun 20, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera called on professionals like doctors, lawyers, tuition masters, architects and others to come forward and pay their taxes. “Our doctors, lawyers, tuition masters, architects have been funded by taxpayers money through free education,” the Minister said in Colombo Tuesday. “It is only fair that they […]
‘s charges : Fin Min
Jun 20, 2018 (LBO) – Sri Lanka’s cabinet has decided to remove the value added tax from a range of medical charges in private hospitals in a bid to reduce the health care cost of the people, the Finance Minister said. “VAT on the out patient department (OPD) charges, doctors consultation fees, channeling fees and surgeries […]
Colombo Stock Exchange decides to delist Kalpitiya Beach Resort
June 19, 2018 (LBO) – Board of Directors of the Colombo Stock Exchange has decided to delist the securities of Kalpitiya Beach Resort subject to the approval of the Securities and Exchange Commission.In an announcement, Colombo Stock Exchange said the decision to delist the company is based on the following reasons.1. The shareholders of the […]
Sri Lanka GDP grows by 3.2-pct in Q1 2018
Jun 19, 2018 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) grew 3.2 percent in the first quarter of 2018 with positive growth recorded in the agriculture sub sector, official data from the Census and Statistics showed. The GDP at constant (2010) prices for the first quarter of 2018 recorded as 2, 223,856 million rupees, and GDP reported […]
McLarens & Peak Engineering to offer facilities management solutions through new JV company
Jun 18, 2018 (LBO) – McOcean Property Developers (Pvt) Ltd., (a member of the McLarens Group) in a joint venture with Peak Engineering & Consultancy (Pte) Ltd., of Singapore, launched McPeak Lanka (Private) Limited; a company that offers Integrated Facilities Management Solutions to the local market. McPeak Lanka intends to provide integrated facilities management solutions […]
Fitch-rated finance Cos unlikely to face immediate rating action despite new Regs
Jun 14, 2018 (LBO) – Fitch Ratings says finance companies rated by them are unlikely to face immediate rating action, as they believe all have adequate capital to meet the thresholds that will apply from 1 July 2018. Even after taking account of potential RWA changes, based on the current asset mix – and most […]