Category: Industry
SLAITO and THASL hail the upcoming promotion plan of Sri Lanka Tourism
(PRESS RELEASE) – In a joint communique, The Sri Lanka Association of Inbound Tour Operators (SLAITO) and The Hotel Association of Sri Lanka (THASL) appreciated the efforts by Sri Lanka Tourism Promotions Bureau (SLTPB) and Sri Lanka Tourism Development Authority (SLTDA) to expedite the Digital advertising campaign planned for early 2018 and the Global advertising […]
Sri Lankan Banks to Step up Basel III Tier 2 Issuance: Fitch
Jan 08, 2018 (LBO) – Sri Lankan banks are likely to significantly boost issuance of Basel III-compliant Tier 2 instruments in 2018, says Fitch Ratings. Most banks will need to raise capital to meet higher Basel III requirements that take full effect in January 2019, and to support balance-sheet expansion, the rating agency said issuing […]
Rajagiriya flyover to open today, speed of vehicles to increase eight-fold
Jan 08, 2017 (LBO) – President Maithripala Sirisena will declare open the Rajagiriya flyover on January 08, providing long term solutions for the heavy traffic congestion in the area. Issuing a statement the Presidents media unit said that during the times of heavy traffic congestion in Rajagiriya, the speed of the vehicles moving on this road […]
Tourist arrivals to Sri Lanka up 3.2-pct in 2017 despite set-backs
Jan 05, 2018 (LBO) – Tourist arrivals to Sri Lanka has reached an all-time high of 2,116,407 in 2017 according to the latest data released by the Sri Lanka Tourism Development Authority.The arrival figure for 2017 represents a 3.2 percent growth or 65,595 more arrivals over the preceding year when the figure crossed the 2 […]
US GSP withdrawal not country-specific, Impact on total exports small: AmCham
Jan 05, 2018 (LBO) – The American Chamber of Commerce says the decision to withdraw the GSP form Sri Lankais not being country-specific and is one stemming from the US Congress simply not re-authorizing the program before adjourning for the year 2017. With effect from the 1st of January 2018, the United States’ Generalized System […]
2018 budget vs foreigners from buying property in Sri Lanka
The highly anticipated 2018 budget of the Sri Lankan Government concluded recently with a number of surprises that were not seen in budget proposals in the past few years. The targeted FDI inflows of 5 billion dollars into Sri Lanka was certainly one of them, while expecting to raise an impressive 110 billion rupees through […]
Banking sector to provide 25-pct average return over 1-Year: FC Research
Jan 04, 2018 (LBO) – First Capital Research expects the banking sector to have a steady phase during 2018E-20E with stable credit growth, improving GDP growth supporting lower Non Performing loans and lower interest rate volatility leading to stable net interest margins. “We expect our banking sector universe to provide 25% average return over 1-Year […]
‘s Sampath Bank introduces slip-less transactions
Jan 04, 2017 (LBO) – Sampath Bank has launched slip-less transactions to provide their customers greater convenience through a mobile app that is available on iOS and Android, a statement said. With the launch, the slip-less transaction facility will allow customers to carry out cash deposits and withdrawals without filling out any forms. The Bank […]
World Finance declares COMBANK best in Sri Lanka for Digital & Mobile Banking
(PRESS RELEASE) Presents awards for‘Best Digital Bank’ and ‘Best Mobile Banking Application’ in Sri Lanka in 2017 The Commercial Bank of Ceylon PLC has been recognised as the ‘Best Digital Bank’ in Sri Lankaand has been presented the award for the ‘Best Mobile Banking Application’by the prestigious London-based ‘World Finance’ magazine celebrating achievement, innovation and […]
Sri Lanka to raise USD5Bn from Sovereign and Development Bonds in 2018
Jan 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers have given approval to raise up to US 2 billion dollars through foreign commercial borrowings and a further US 3 billion dollars from Sri Lanka Development Bonds (SLDB) to raise the funds for loan repayment and financing of development projects. The proposal was put forward by […]
Port City legislation to Parliament by March, Work on three towers to commence
Jan 03, 2018 (LBO) – Sri Lanka’s Port City legislation would be brought before Parliament by March while construction on the first permanent buildings are also due to commence shortly, senior officials said. These comments were made following a visit of the newly reclaimed land of the island by Prime Minister Ranil Wickremesinghe and Megapolis […]
CB restricts deposit withdrawals of ETI Finance, Swarnamahal Financial Services
Jan 02, 2018 (LBO) – Sri Lanka’s Central Bank has restricted the withdrawal of maturing deposits and renewal of such deposits of ETI Finance and Swarnamahal Financial Services for six months. Central Bank said in a statement that the Monetary Board at its meeting held yesterday decided to appoint a panel to manage the affairs […]