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SEC considers introducing a mandatory rating for stock broking firms : SEC Head
June 24, 2015 (LBO) – Sri Lanka’s Security Exchange Commission says that it is looking at possibilities of introducing a mandatory rating for stock broking firms in the island.“Stock broking companies perform an important role in the capital market by facilitating trades for investors,” Thilak Karunaratne, Chairman of SEC said. “In the recent past the […]
Sri Lanka’s hotel sector challenged due to increase of graded room supply: Hayleys
June 23, 2015 (LBO) – Sri Lanka’s Hayleys, a hotel operator says the hotel sector is challenged due to increase of graded room supply as several new domestic and international players expanding capacity. “The increased supply of graded hotel rooms has led to severe price competition and margin erosion, particularly given the prevalent shift in […]
Sri Lanka spent Rs1.3bn to conduct elections last year
June 24, 2015 (LBO) – Sri Lanka’s elections department has spent over 1,280 million rupees to conduct elections last year, data from the 2014 performance appraisal report of the Elections Commissioner showed.986.84 million rupees has been spent to hold Western and Southern PC Elections while 293.87 million rupees has been spent to conduct elections for […]
UNP insists that opposition withdraws no confidence motions ahead of 20A
June 24, 2015 (LBO) – Sri Lanka’s ruling United National Party on Tuesday urged the opposition to withdraw no confidence motions brought against Prime Minister and Finance Minister.“We are insisting them to withdraw no confidence motions before presenting the 20th amendment in Parliament,” UNP General Secretary Kabir Hashim told Parliament. Referring to election reforms, Hashim reiterated the need to […]
Finance Minister meets Chinese and Czech Republic Ambassadors
Pic 01: Czech Republic Ambassador in Sri Lanka Miloslav Stasek Pic 02: Chinese Ambassador in Sri Lanka Yi Xianliang
Sri Lanka to strengthen rupee to 129 in next two weeks: Finance Minister
June 23, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake says the government will strengthen the rupee to 129/130 against the US dollar in the coming two weeks. “When we tookover the government it was at 133.25 rupees to the US dollar and now it is at 133.90 rupees,” Karunanayake told reporters Tuesday. “In two […]
Sri Lanka stocks close up 0.20-pct: JKH gains
Jun 23, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.20 percent for the second consecutive day with index heavy stocks showing gains, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 14.31 points higher at 7,053.96 up 0.20 percent. The S&P SL20 closed 25.77 points higher at 3,938.46 higher at […]
Sri Lanka sells three billion rupees in 02 and 03 year bonds
June 23, 2015 (LBO) – Sri Lanka has sold three billion rupees of two and three year bonds after calling bids for two billion rupees of bonds, the state debt office said. The debt office on Tuesday sold 1.5 billion rupees of two year bonds maturing on 15 June 2017 at a weighted average yield […]
Sri Lanka’s BOI signs Rs24.58bn investments from Jan – May 2015
June 23, 2015 (LBO) – Sri Lanka’s Board of Investment said that it has signed 42 investment agreements worth 24.58 billion rupees with enterprises representing a vast range of sectors which reflect the growing diversification of Sri Lanka’s economic base and exports. The agreements includes foreign investment of 6,849 million rupees or 51 million US […]
Nestle Lanka welcomes government move to test Maggi: ITI report due Thursday
Jun 23, 2015 (LBO) – Nestle Lanka, a unit of a Swiss-based food group said, they welcomed the move by the government to test their popular brand Maggi for its lead content.“We welcome this move by the government to test the product and it will act as an assurance to us,” Bandula Egodage, Coporate Spokesperson, […]
Sri Lanka’s PAFFREL in signature campaign pushing political parties for proper nominations
June 23, 2015 (LBO) – Sri Lanka’s election watchdog PAFFREL has organized an island wide campaign to collect one million signatures from the masses in support of the ’12th March Movement’.The programme will be launched on Thursday morning from Independence Square, Colombo amidst the blessings of all religious leaders in order to achieve two fundamental […]
Sri Lanka’s Serendib Hotels boosted by online sales
June 23, 2015 (LBO) – Serendib Hotels Plc, a unit of Sri Lanka’s Hemas group said the group revenue increase was supported by the growth of emerging markets and online bookings while occupancy level were up two percent. “A notable increase was observed in the volume of online bookings during the year, particularly from new […]