Category: Industry
Ceylon Chamber introduces 10 principles to guide its future
Oct 15, 2015 (LBO) – Sri Lanka’s Chamber of Commerce has introduced 10 principles to guide its approach in influencing the trajectory of the private sector and the country’s economy. These principles, the first of its kind for a business chamber in Sri Lanka, will form the basis of the Chamber’s advocacy on pro-business policy […]
Sri Lanka to seize 8 foreign accounts in Dubai: Cabinet Spokesman
Oct 15, 2015 (LBO) –Sri Lanka has found eight bank accounts in a Dubai bank belonging to powerful politically affiliated people and plans are underway to seize all the accounts, Cabinet Spokesman Minister Rajitha Senaratne told reporters on Thursday.“We have uncovered eight accounts hidden in Dubai,” Minister Rajitha Senaratne told at a press briefing held […]
Sri Lanka’s new fuel pricing formula with Finance Ministry: Min. Champika
Oct 15, 2015 (LBO) – Sri Lanka’s Minister of Megapolis and Western Province Development and former Minister of Power and Energy says that a cabinet approved pricing formula for fuel has been handed over to the Finance Ministry. Speaking to LBO Minister Champika Ranawaka said that “I have already done this.” We got cabinet approval […]
Treasury grants advance of Rs4.5bn to pay Golden key depositors
Oct 15, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to release an advance of 3.94 billion rupees from the treasury to the Central Bank for the repayment of the second stage of Golden key depositors.The second stage covers deposits from 2 to 10 million rupees.The cabinet earlier approved a repayment schedule prepared […]
Sri Lanka, Indonesia trade increased 32-pct in 2014
Oct 14, 2015 (LBO) – Trade between Sri Lanka and Indonesia increased by 32 percent in 2014 and there is vast economic and trade potential that can be explored between the two nations, the Indonesian ambassador said. “Considering that Indonesia is the 16th largest economy in the world, the current trade value between Sri Lanka […]
Demand for oil expected to slow in 2016: IEA
Oct 14, 2015 (LBO) – Global demand growth for oil is expected to slow from its five-year high in 2015 next year closer towards its long term trend, the International Energy Agency said in its October Oil Market Report. Lower price support and a slow down in the global economy would also lead to oversupplied […]
” rating: Fitch
Oct 14, 2015 (LBO) – Fitch Ratings Lanka has assigned Sri Lanka’s Bimputh Finance plc with a national long-term rating of ‘BB(lka)’ and a stable outlook. The full statement follows: Fitch Assigns ‘BB(lka)’ Rating to Bimputh Finance; Outlook Stable Fitch Ratings Lanka has assigned Sri Lanka-based Bimputh Finance PLC (Bimputh) a National Long-Term Rating of […]
Capital Alliance Finance to raise Rs116mn through rights issue
Oct 13, 2015 (LBO) – Sri Lanka’s finance firm, Capital Alliance Finance is to raise 116 million rupees by way of a rights issue, the company said in a stock exchange filing.Subject to the necessary approvals, the company is to issue 7.75 million shares at 15 rupees each in the ratio of one for every […]
Sri Lanka to set up national level Trade Union Advisory Committee
Oct 13, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has given his consent to appoint a national level Trade Union Advisory Committee under his supervision. The committee will be headed by the secretary to the President and the relevant ministers, President’s Media said. The President has given his consent during a meeting with the […]
Sri Lanka’s real estate a new segment of export economy: developer
Oct 12, 2015 (LBO) – Sri Lanka’s ongoing real estate developments can be used to attract investors to the island as a new segment of our export economy, a developer said. “The scale and quality of some of the on-going building projects in Colombo justify looking at property development as a new segment of our […]
Sri Lanka’s Laugfs acquires 69 pct of Bangladesh LPG plant, eyes Asian markets
Oct 12, 2015 (LBO) – Sri Lanka’s Laugfs Gas plc acquired 1.8 million ordinary shares, or 69 percent of the total issued shares, in Petredec Elpiji Limited, a company incorporated in Bangladesh for a purchase consideration of 18.75 million US dollars. “We see tremendous potential for expanding LPG as a domestic and commercial energy source […]
Sri Lanka – Poland trade balance in favor of SL: forum chief
Oct 12, 2015 (LBO) – High export volumes have contributed to the balance of trade between the two countries in favor of Sri Lanka, chairman of Sri Lanka Poland business forum Samantha Ranatunga said.“This is rare for our country and more the reason why we value doing business with Poland,” he said.Exports from Sri Lanka […]