Category: Industry
Tourists to Maldives edge up despite recent emergency
Dec 28, 2015 (LBO) – Maldives reported higher tourist arrivals in November despite a recent state of emergency, a media report said. The number of tourists who visited the Maldives last month increased by 0.5 percent to 90,218 from 89,778 in November 2014, statistics published by the tourism ministry showed. A total of 1,114,993 tourists […]
Sri Lanka to set up Dispute Resolution Tribunal for sports
Dec 23, 2015 (LBO) – Sri Lanka’s sports ministry is to establish a separate tribunal for the speedy resolution of disputes arising in the sports sector. Sports Minister Dayasiri Jayasekara speaking to media stated that a 10 member tribunal will be set up for this task which will consist of retired judges.“We want to expedite […]
SriLankan operates special Bangkok-Colombo flight following cancellation
Dec 23, 2015 (LBO) – SriLankan Airlines has made arrangements for 32 passengers with onward connections in Colombo to travel on flights of other airlines after an aircraft engine cowling was damaged on the ground at Bangkok’s Suvarnabhumi Airport, resulting in the Bangkok-Colombo Flight UL883 being cancelled. The incident has taken place when a baggage cart operated by […]
‘s Subordinated Debentures AA-(lka)(EXP)
Dec 23, 2015 (LBO) – Fitch Ratings Lanka has assigned Commercial Bank of Ceylon proposed Basel II-compliant subordinated debentures of up to 7 billion rupees an expected National Long-Term Rating of AA-(lka)(EXP).The proposed issuance, which will have tenors of five and ten years and carry fixed coupons, will be listed on the Colombo Stock Exchange. […]
No movement of professionals under Indo-Lanka pact: Harsha de Silva
Dec 23, 2015 (LBO) – Deputy Minister of Foreign Affairs Harsha de Silva requested professionals not to mislead the public with false statements as there is no movement of natural persons under proposed Indo – Lanka economic pact.Speaking at a press briefing de Silva emphasized that there is no point of holding union actions with […]
‘s outstanding debentures BBB+(lka)
Dec 22, 2015 (LBO) – Fitch Ratings has assigned LB Finance’s outstanding rupee denominated subordinated debentures a National Long Term Rating of ‘BBB+(lka)’. The debentures mature in 2016, 2017 and 2018 and have total value of 2.545 billion rupees. A full list of LB’s ratings is given below. KEY RATING DRIVERS The outstanding subordinated debentures are rated one […]
Sri Lanka expects EU fishing ban to be revoked by mid 2016
Dec 22, 2015 (LBO) – Sri Lanka is looking at a favorable response about the lifting of EU fishing ban from the European Parliament by mid next year, the Fisheries Minister said. “During the coming months the proposal to lift the fishing ban will be presented to the European Parliament,” Fisheries Minister Mahinda Amaraweera said. […]
Sri Lanka appoint more ministers
Dec 22, 2015 (LBO) – Sri Lanka President Maithripala Sirisena appointed Priyankara Jayarathne as the State Minister of Local Government and Provincial Councils, who sworn in before President Maithripala Sirisena at the Presidential Secretariat yesterday (Dec.21) and Sarathi Dushmantha Mithrapala as the Deputy Minister of Buddha Shasana. Mithrapala is also the current Deputy Minister of […]
Sri Lanka’s ‘Megapolis’ plan will help boost land prices in outskirts: Report
Dec 22, 2015 (LBO) – Sri Lanka’s Western Province ‘Megapolis’ plan will boost land prices in the suburbs and beyond in the long term, a research report said. “With the change in political power in 2015, we can now note that there is a further discussion about planning beyond Colombo to cover a Western Province […]
Sanasa Development Bank to raise Rs4bn from listed debenture
Dec 21, 2015 (LBO) – Sri Lanka’s Sanasa Development Bank is to raise 4.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing. The company has decided to issue 20 million debentures at 100 rupees each with an option to issue up to a further 20 million debentures in the […]
Sri Lanka year in review 2015: OBG
Dec 21, 2015 (LBO) – Sri Lanka has emerged with a renewed emphasis on economic reforms and fiscal consolidation, which has allayed concerns for many local and foreign investors, a year end review by the Oxford Business Group said. Full statement follows……. In the wake of general elections earlier this year, Sri Lanka has emerged […]
Govt to save Rs15bn by moving its accounts to private banks: FM
Dec 20, 2015 (LBO) – Sri Lanka’s Finance Ministry is to transfer part of the government accounts maintained by the state banks to private banks in order to reduce state expenditure.Finance Minister Ravi Karunanayake told Parliament Saturday that there will be a cost saving of about 15 billion rupees through the new proposal.“State banks currently […]