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Sri Lanka Aug tourist arrivals up 18.7 pct, China and India drive growth
Sep 04, 2015 (LBO) – Sri Lanka’s tourist arrivals rose 18.7 percent to 166,610 in August 2015 from a year earlier, driven by China and India, data from the state tourism promotion office showed. In the eight months of 2015 arrivals were up 17.1 percent to 1,172,465. Indian arrivals increased 27.9 percent to 151,427 while […]
Sri Lanka’s Bank of Ceylon to sell Rs8 bn debt, AA rating
Sep 04, 2015 (LBO) – Sri Lanka’s Bank of Ceylon, state run bank is to sell up to 8.0 billion rupees of 5 and 8-year subordinated debt which have given final National Long-Term Rating of ‘AA(lka)’, Fitch Ratings said. The full statement given below :- Fitch Ratings has today assigned Bank of Ceylon’s (BOC; AA+(lka)/Stable) […]
Update 2-Sri Lanka Central Bank may intervene less in forex: source
Sept 04, 2015 (LBO) – The Sri Lankan central bank may intervene less in the forex market by not quoting a specific level, a market source told Lanka Business Online, as the rupee opened lower against the dollar on Friday.Early on Friday, USD/LKR saw a transaction done at 136.75, after wide quotes and no trades. […]
Sri Lanka, Australia bilateral trade up 18-pct in 2014
Sep 04, 2015 (LBO) – Two-way trade in goods between Australia and Sri Lanka has recorded an 18 percent increase last year over the previous year, Australian High Commissioner in Sri Lanka said.Speaking at a recent event High Commissioner Robyn Mudie said the bilateral trade in goods has reached 420 million Australian Dollars in 2014.“Our […]
Asia Securities says S&P telecoms report on Sri Lanka unjustified
Sep 04,2015 (LBO) – Sri Lanka’s Asia Securities says it is bullish on the Sri Lanka telecommunication sector even though a recently released report by Standard & Poor’s ratings agency sees telecom regulatory risk in Sri Lanka as high. S&P highlighted that they see a high regulatory risk in Sri Lanka with regulatory disruptions such […]
‘s growing religious tourism market
Sep 4, 2015 (LBO) – Sri Lanka tourism promotion bureau said that it plans to tap China’s growing religious tourists as almost 85 percent of the people in China hold some religious belief or practice some kind of religion according to Chinese spiritual life survey conducted in 2012 by the Beijing-based Horizon Research Consultancy Group. […]
EU Observation Mission distributes equipment to Sri Lankan civil society
On its way to concluding the EU EOM to Sri Lanka which witnessed a well administered 2015 Parliamentary elections, the EU EOM on 3 September distributed a wide variety of equipment to Sri Lankan civil society members.Accepting that civil society must be able to relay and receive information in an effective manner, not only during emergency operations but […]
Sri Lanka’s Parliament approves bigger cabinet
Sep 03, 2015 (LBO) – Sri Lanka’s Parliament approved a proposal to increase the number of ministers and deputy ministers in national government, a short while ago. 143 voted in favor of the proposal and 16 against; 63 Parliamentarians were absent during the vote. JVP voted against while TNA was absent at the voting. The […]
Sri Lanka Cricket Head Coach Marvan Atapattu resigns
Sep 03, 2015 (LBO) – Sri Lanka Cricket has accepted the resignation of Marvan Atapattu from the post of Head Coach of the Sri Lanka Cricket Team.“Sri Lanka Cricket thanks Atapattu for his efforts as Head Coach and Batting Coach of the Sri Lanka Cricket Team, and we wish him every success in all his […]
Fitch Maintains Ceylon Income Fund on Rating Watch Negative
Sep 03, 2015 (LBO) -Fitch Ratings said it has maintained the ‘(A(lka))’ National Fund Credit Quality Rating of the Ceylon Income Fund on Rating Watch Negative(RWN) due to an increase in proportion of assets rated by another rating agency after redemptions. “The maintenance of the RWN is driven by an increase in the proportion of […]
Sri Lanka stocks close higher 0.07-pct, net foreign outflow
Sep 03, 2015 (LBO) – Sri Lankan stocks closed higher 0.07 percent on Thursday after three days of losses with index heavy stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed higher 5.11 points at 7,245.50 higher 0.07 percent. S&P SL20 closed 1.06 points higher at 3,978.84 down 0.03 percent. “We […]
Eden Hotel Lanka to raise Rs1.05bn through rights issue
Sep 03, 2015 (LBO) – Eden Hotel Lanka, a leisure sector player is to raise 1.05 billion 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 52.8 million ordinary shares at 20 rupees each in the ratio of one […]