Category: Industry
Sri Lanka’s Orient Finance to raise Rs1bn through IPO
Jan 06, 2016 (LBO) – Sri Lanka’s finance sector player Orient Finance is to raise one billion rupees by way of an Initial Public Offering. The company will offer 71.5 million ordinary shares at 15 rupees each, the company said in a stock exchange filing. The finance company formerly known as Bartleet Finance has obtained […]
HNB Grameen shares to be listed in CSE
Jan 06, 2016 (LBO) – Hatton National Bank’s micro finance arm, HNB Grameen, is to list its shares in the Colombo Stock Exchange shortly, Managing Director of HNB, Jonathan Alles said. Alles was speaking at the trade opening ceremony conducted at the CSE yesterday. “In the HNB group, Lanka Ventures, HNB Assurance are listed and […]
Sri Lanka real estate brokers, agent certification should be formalized: RIU
Jan 06, 2016 (LBO) – Sri Lanka’s real estate brokers and agents need to professionalize their services and initiatives to bring about change in the sector, a recent report says. “Sri Lanka does not have a formal system of registration of certification for real estate brokers and agents,” Research Intelligence Unit, a firm which specialize […]
Sri Lanka’s NSB takes over management of Entrust Securities
Jan 05, 2016 (LBO) – Sri Lanka’s state-owned National Savings Bank has taken over the management of troubled Entrust Securities from yesterday evening, Central Bank official said. The state-owned bank has taken over the operations following the discussions with the Central Bank and officials of the Entrust Securities Plc. Meanwhile the CSE has halted the […]
Sri Lanka’s water, petroleum to be brought under power regulator, PUCSL
Jan 05, 2016 (LBO) – Sri Lanka’s water and petroleum sectors will be regulated by the Public Utilities Commission of Sri Lanka (PUCSL), a statement said. “The PUCSL would be given regulatory powers over the water services industry and petroleum industry enabling a more cost reflective transparent pricing mechanism,” the commission said in […]
PM calls on all to join country’s growth drive
Jan 04, 2015 (LBO) – Prime Minister, Ranil Wickremesinghe in his new-year message called on all Sri Lankan’s to join the government in its march towards rapid development. “We want to see a rapid development drive in the country, our aim is to develop the country from the Western Province to Trincomalee on one side […]
Tourist arrivals in Sri Lanka up 17.8-pct in 2015
Jan 04, 2015 (LBO) – Tourist arrivals to Sri Lanka were up 17.8 percent with 1.8 million visitors recorded in 2015, the tourism office said. December arrivals grew 15.4 percent to 206,114 from a year ago with total annual arrivals at 1,798,380, provisional data from the tourism office showed. Indian arrivals grew 30.3 percent to […]
Sri Lanka Ports Authority raises Rs40mn from vehicle auction
Jan 01, 2016 (LBO) – Sri Lanka Ports Authority has raised 40 million rupees from auctioning their unused vehicles, the authority said. 67 bidders have forwarded their bids to the auction held Wednesday which included 50 vehicles and 33 associated equipment. Sri Lanka Ports Authority said this was the first time such a large number […]
Sri Lanka has had wrong policy in transport: Eran
Dec 31, 2015 (LBO) – Sri Lanka has had wrong policy in encouraging private transport and congesting the roads, making it inefficient and polluting the environment, a deputy minister said.“As you can see we have too many vehicles on the roads,” Eran Wickramaratne, deputy minister, State Enterprise Development said.“The biggest frustration when you land at […]
Megapolis plan presented to President, USD 30bn worth investments in pipeline
Dec 31, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena was presented with the new government’s Megapolis Plan formulated to develop the island’s Western Province by Minister Champika Ranawaka on Wednesday.Minister of Megapolis and Western Development, Champika Ranawaka said Sri Lanka will be able to get about 30 billion dollars worth investments within next 10 […]
China to ink FTA with Sri Lanka
Dec 30, 2015 (LBO) – China will have discussions with Sri Lanka next year on a proposed Free Trade Agreement (FTA) in a bid to build stronger trade and investment ties, a foreign news report said. Gao Hucheng, the Chinese Minister of Commerce was quoted on Chinese news agency Xinhua as saying that China […]
Sri Lanka stocks close down 0.4-pct: Volume at 21 month low
Dec 28, 2015 (LBO) – Sri Lankan stocks closed down at 0.44 percent following a Christmas long week-end holiday with index heavy and banking sector stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed lower at 30.13 points at 6,828.51 down 0.44 percent. S&P SL20 closed 11.03 points down at 3,592.87 […]