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Sanasa Bank to get IFC advice on small businesses and cooperatives
Sep 07, 2015 (LBO) – International Finance Corporation (IFC), a member of the World Bank Group, will provide advisory services to Sanasa Development Bank as it expands into micro and small businesses, cooperatives, and retail clients, a media release said. “Sanasa Development Bank’s growth strategy involves long-term sustainable growth in three important sectors, SME, retail, and […]
Depreciation will help some equity sectors, ease uncertainty: Bartleet Religare
Sept 06, 2015 (LBO) – Sri Lanka’s depreciation last week will help export-related stocks and banks listed on the market, Bartleet Religare Securities said. From a foreign investors’ point of view, the depreciation takes away uncertainty that has been weighing on the market. “Foreign investors saw the devaluation coming and some did exit. Others didn’t […]
PAFFREL urges Election Commissioner to probe misuse of state vehicles
Sep 07, 2015 (LBO) – Sri Lanka’s election watchdog PAFFREL has urged Election Commissioner to probe alleged misuse of state vehicles by ministers and other politicians at the recently concluded general election.In a letter to the Election Department, the election monitoring organization has called the commissioner to take action against offenders. PAFFREL has also requested […]
Sri Lanka’s capital skyline changes with rise in luxury apartment market: report
Sep 06, 2015 (LBO) – The skyline of Sri Lanka’s capital is growing in terms of the number of luxury apartment units with the market expected to reach 6,000 units by 2018-19, from 2,657 units at the moment, a research report shows. “Apartment complexes have had a strong hand in shaping the skyline of Colombo.Starting […]
G-20 nations promise to avoid competitive devaluations
Sept 06, 2010 (LBO) – Finance ministers and central bankers from the Group of 20 nations have promised to avoid competitive devaluations after a two-day meeting in Turkey.“We will refrain from competitive devaluations, and resist all forms of protectionism,” G20 finance minsters and central bank governors said.During the meeting an official of the People’s Bank […]
Foreign holding of Sri Lanka govt securities falls during week
Sept 05, 2015 (LBO) – The holding of Sri Lanka government securities by foreign investors reduced to 350 billion rupees in the week to September 02, from 375 billion rupees in the previous week, information from the central bank showed.Foreign investors held 457 billion rupees worth of government securities at the beginning of the year. […]
‘t allow artificial devaluation, high interest rates
Sep 04, 2015 (LBO) – Sri Lanka’s newly appointed Finance Minister Ravi Karunanayake says an artificial devaluation of the rupee will not be allowed, and he will push for low interest rates in the future.“There are realistic situations in the world we have got to face today, but that does not mean that we will […]
Sri Lanka’s new cabinet ministers sworn in
Sep 04, 2015 (LBO) – Sri Lanka’s new unity government’s swearing in ceremony concluded at Presidential Secretariat a short while ago. Cabinet Ministers sworn-in today (42): 1. Minister of National Policy and Economic Affairs – Ranil Wickremesinghe 2. Minister of Tourism Promotion and Christian Affairs – John Amaratunga 3. Minister of Transport – Nimal Siripala de Silva 4. Minister of sustainable development […]
Sri Lanka stocks close down 0.4-pct: Low investor activity
Sep 04, 2015 (LBO) – Sri Lankan stocks closed down 0.42 percent on Friday with low investor activity and most of the banking sector stocks making losses, brokers said. The Colombo benchmark All Share Price Index closed down 30.39 points at 7,215.11, lower 0.42 percent. S&P SL20 closed 22.63 points lower at 3,956.21 down 0.57 […]
Committee to appoint heads for all govt institutions: President
Sep 04, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena said that all government institutional heads will be appointed through a common committee. ‘We will have a common committee that will include the Prime Minister and me to make all the appointments in government institutions,” President Sirisena said. “There will be criteria for these appointments […]
Sri Lanka PM says unity government is a new system for country
Sep 04, 2015 (LBO) – Sri Lanka’s Prime Minister and Minister of National Policy and Economic Affairs Ranil Wickremesinghe said that the unity government with the ministers appointed today plans to try out a new system for the country.“We are here to work for at least for a period of two years forgetting all the […]
Sri Lanka HNB Senior and Subordinated Debt gets AA-, A+ ratings :Fitch
Sep 04, 2015 (LBO) – Fitch Ratings has assigned Hatton National Bank proposed senior unsecured and subordinated debentures a expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) respectively. Full Statement follows: Fitch Ratings has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed senior unsecured and subordinated debentures expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) […]