Category:
‘s Ceylon Chamber economic policy forum kicks off
Aug, 04, 2015 (LBO) – Sri Lanka’s Economic Summit 2015, with the participation of Sri Lanka’s President Maithripala Sirisena and Ranil Wickremesinghe will kick off Tuesday (04), in capital Colombo.The forum will cover national vision including: Policy Implementation and Perspective, A New Global Economic Strategy for Sri Lanka, Driving Exports – Use of Social Media […]
Sri Lanka’s BOI to apply provisions of 2006 to avoid confusions on investments
Aug 04, 2015 (LBO) – Sri Lanka’s Board of Investment on Monday clarified their position with regard to the confusions aroused after the mini budget overruled the previous budget.2015 budget presented by former administration included proposals to be effective from this tax year which starts from 01 April 2015.Even though certain other tax proposals required […]
Volkswagen to invest USD30mn in Sri Lanka for vehicle assembly plant
Aug 04, 2015 (LBO) – German based automobile manufacturer Volkswagen has agreed to invest 30 million US dollars to set up a vehicle assembly plant in Sri Lanka, BOI Chairman Upul Jayasuriya said.“It’s not huge but it’s just the footprint.We have asked them to set it up and given a time period for them to […]
Sri Lankan coco peat to be purchased by Japan
Aug 04, 2015 (LBO) – A team from Zen-Noh, the Japanese National Federation of Agricultural Cooperative Associations, are visiting Sri Lanka to help promote exports of coco peat, a sustainable replacement for peat moss in plant cultivation. The visit of the four-member team has been arranged by the Export Development Board, a Commerce Ministry statement […]
Sri Lanka stocks close higher 0.06-pct
Aug 03, 2015 (LBO) – Sri Lanka’s stocks closed higher 0.06 percent on Monday, with index heavy stocks making gains on expectations of strong corporate earnings and political stability after the upcoming parliamentary polls, brokers said. The Colombo benchmark All Share Price Index closed 4.54 points higher at 7,336.59 up 0.06 percent. The S&P SL20 […]
Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient dividends
Aug 03, 2015 (LBO) – Sri Lanka’s organizations should recognize minority shareholder interest and pay sufficient attention and dividends, a former head of Sri Lanka’s main business chamber and a company chairman said.“In my view, the most important stakeholder is the shareholder,” Charitha P de Silva, a former chairman of the Ceylon Chamber of Commerce, […]
Sri Lanka E-tel launches smartphone with Sinhala operating system
Aug 03, 2015 (LBO) – Sri Lanka’s E-tel has launched a smartphone in the country with an operating system in Sinhala on the Android platform, a statement said. E-tel phones are manufactured in China and designed in Hong Kong and distributed in Sri Lanka by Brantel. The E-tel ‘Curiosity N2’ offers display icons, system commands […]
Sri Lanka’s Bansei Royal Resort to build a food village in Hikkaduwa to boost revenue
Aug 03, 2015 (LBO) – Sri Lanka’s Bansei Royal Resort, managed by resort chain Jetwing leisure group is planning to build a ‘food village’ in Hikkaduwa, a small beach town on the south coast of Sri Lanka located in the Southern Province.Given the vibe of Hikkaduwa, the company has identified the impetus for tourists and […]
Greece stock exchange to reopen today with trading restrictions
Aug 03, 2015 (LBO) – The Athens stock exchange will reopen Monday with restrictions, more than a month after the Greece financial crisis pressured the closure of the exchange. The Athens Exchange Stock Markets Steering Committee and the Boards of Directors of AthexClear last Friday decided to reopen the Regulated market and the Multilateral Trading […]
SriLankan Airlines flies high at SLIM NASCO awards 2015
(SriLankan News Release) – National Carrier SriLankan Airlines managed to bag three outstanding titles at the SLIM NASCO Awards 2015, held at the Water’s Edge recently.The award ceremony was organized by the Sri Lanka Institute of Marketing, coinciding with the annual National Sales Congress, to recognize and reward the outstanding sales personnel of Sri Lanka.SriLankan […]
‘s Seylan Bank net up 55.9-pct in June quarter
Aug 03, 2015 (LBO) – Sri Lanka Seylan Bank recorded a net profit of 1,089 million rupees in the June 2015 quarter up 55.9 percent from the same period in 2014, a filing with the stock exchange showed.The group reported earnings of 3.16 rupees per share up 53.7 percent from the same quarter last year.The […]
Sri Lanka’s budget 2016 targets budget deficit of 5.5 pct- of GDP
Aug 03, 2015 (LBO) – Sri Lanka wants to reduce the budget deficit to 5.5 percent of gross national production over 2016 to 2018, maintaining the state investment at around 6 to 8 percent of GDP, Cabinet Spokesman Minister Rajitha Senaratne said.The Finance Ministry had informed the cabinet that it has begun preparations for the […]