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Sri Lanka’s Finance Minister Ravi Karunanayake accuses Attorney General Department
July 24, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake on Friday accused Attorney General over an incident occurred when dealing with the Golden Key Depositor’s issue. “Everyone thinks Attorney General is on our government side.But what we see here is an act against our government. Even yesterday night there was going to be a problem,” […]
Sri Lanka’s EPF should be managed by public trust, Not allowing Central Bank to manipulate: Eran
July 24, 2015 (LBO) – Sri Lanka’s Employee Provident Fund should come under a public trust and not allowed to be manipulated by the Central bank, a former deputy minister said. “This is one of the biggest frauds happening in the country and I have been saying this in parliament for the last five years,” […]
Sri Lanka’s President to appoint special investigation commission on Golden Key
July 24, 2015 (LBO) – Sri Lanka is to appoint a special investigation commission to probe irregularities occurred in the Golden Key Company, President Maithripala Sirisena said.“I decided to appoint a special investigation commission headed by a retired judge on Golden Key Company after having discussions with Prime Minister and Finance Minister,” Sirisena told a […]
Sri Lanka’s Carsons profits up, Beverage sector revenues affected: Annual Report
July 23, 2015 (LBO) – Sri Lanka’s Carson Cumberbatch PLC, with investments ranging from oil palms and beer to financial services said revenue were up by 22.8 percent to 785 million rupees in 2014/2015, even though beverage segment of the company was affected due to excise duty. “Some of the tax proposals presented at the […]
MAS in chemical leasing arrangement for waste water treatment
July 24, 2015 (LBO) – MAS Active Linea Intimo announced it has entered into a chemical leasing arrangement for waste water treatment, a world’s first for the industry, according to the garments manufacturer. Chemical leasing is a business model in which a chemical is leased from a company providing its service. MAS Active Linea Intimo […]
‘s United National Front suggests drastic proposals in manifesto
July 24, 2015 (LBO) – Sri Lanka’s United National Front for Good Governance on Thursday unveiled its election manifesto aimed at creating a competitive social market economy based on knowledge. Proposed social market economy seeks to expand the base of open economy or economic democracy in the country within 60 months. The manifesto has addressed […]
Sri Lanka private sector credit growth expands, Policy rates to be maintained: Central Bank
July 24, 2015 (LBO) – Sri Lanka Central Bank says credit to the private sector by commercial banks grew by 17.6 per cent, year-on-year, in May 2015, given the low interest rate environment in the Island. In absolute terms, credit to the private sector expanded by 48.6 billion rupees in the month of May and […]
New mobile device to access CSE trading on the go
July 24, 2015 (LBO) – IronOne Technologies, a software product development company has launched ‘ATrad Mobile’ for busy investors to access the CSE for real-time market information, and to trade securely on their smart phones, a statement said.“‘ATrad Mobile’ has easy to use stock trading features and capabilities that allow clients to securely trade stocks, track and manage portfolios and […]
Sri Lanka police force to get bag of goodies including wage hike and new retirement plan
July 24, 2015 (LBO) – Sri Lanka’s police force will be given a new salary revision, retirement plan and several other benefits, a United National Party Parliamentarian said.“The Sri Lankan government plans to increase the salary of police officers by 40 percent,” John Amaratunga, UNP parliamentarian said.“A cabinet paper proposing the increase will be submitted to the Cabinet next […]
‘s Keells Food Products Q1 profits up 86 pct: Interim Report
July 24, 2015 (LBO) – Sri Lanka’s Keells Food Products Plc, part of the John Keells conglomerate said profits rose 86 percent to 70 million rupees in the June 2015 as revenues also grew.The firm reported earnings of 2.76 rupees per share up from 1.48 rupees in 2014. The stock closed at 141.30 rupees on […]
Sri Lanka Customs to get modern container scanning facility; dock yard for Hambantota Port
July 23, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to install a modern container scanning system at Sri Lanka Customs with the view of improving the efficiency and productivity of Customs.The proposal has been made by Finance Minister Ravi Karunanayake to implement the system through a partnership with the private sector.Sri Lanka […]
Sri Lanka stocks close up 0.2-pct on seven week high
July 23, 2015 (LBO) – Sri Lanka’s stocks closed up 0.18 percent on Thursday on a seven week high with index heavy stocks continuing to show gains, brokers said. The Colombo benchmark All Share Price Index closed 12.99 points higher at 7,212.62 up 0.18 percent. The S&P SL20 closed 3.38 points higher at 4,041.21 up […]