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Sri Lanka stocks close up 0.3-pct Turnover low
July 14, 2015 (LBO) – Sri Lanka’s stocks closed up 0.35 percent on Tueasday, for a fourth consecutive session with telecom stocks continuing to showing gains, brokers said. The Colombo benchmark All Share Price Index closed 24.22 points higher at 7,027.10 up 0.35 percent. The S&P SL20 closed 3.84 points higher at 3,920.13 up 0.10 […]
Sri Lanka’s growth rate in past two years disturbed after GDP rebasing: Nivard Cabraal
July 14, 2015 (LBO) – Sri Lanka’s GDP growth rate in the past two years have been disturbed by a sinister action of politicians, former Governor of the Central Bank charged. Former Governor of the Central Bank Ajith Nivard Cabraal speaking at a special press briefing told reporters Tuesday that the new growth rate of […]
Sri Lanka’s People’s Merchant Finance removes CEO
July 14, 2015 (LBO) – Sri Lanka People’s Merchant Finance, a subsidiary of People’s Bank of Sri Lanka said it removed the Chief Executive Officer and director of the company following a directive of Monetary Board. The company said, that in term of section 25(1) (h) of the Finance Business Act, the Monetary Board has […]
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July 14, 2015 (LBO) – Fitch Ratings Lanka has downgraded Siyapatha Finance PLC’s (SLFL) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’ with a stable outlook, the rating agency said in a statement. The agency has also downgraded the National Long-Term Ratings on SLFL’s outstanding senior unsecured debentures to ‘A-(lka)’ from ‘A(lka)’ and outstanding subordinated debentures […]
Sri Lanka tea plantation workers offered a wage hike
July 14, 2015 (LBO) – Sri Lanka’s regional plantation companies (RPCs ) said they are raising the daily pay for 1000 rupees to meet labour union demands but only if workers agree to improve their productivity and pluck more tea.Plantation worker earns 620 rupee wage at present. “While the RPCs are finding even the present […]
Sri Lanka restricts mobile phone services at Yala national park
July 14, 2015 (LBO) – Sri Lanka restricts mobile phone services at Yala national park to minimise the danger from rushing safari vehicles to show animals to visitors. Yala is one of the busiest national park in the Island but, also a unique conservation site for leopards and other threatened fauna and flora. The park […]
‘s entry fees higher than region: Report
July 14, 2015 (LBO) – Sri Lanka’s tourist attractions entry fee charge between local and foreign visitors is higher when compared to other countries in the region, a recent report said.“Along with regional countries such as Malaysia, Thailand and China, Sri Lanka too charges a two-tier price system whereby foreigners are charged a higher price,” Bartleet […]
Sri Lanka stocks close up 0.3-pct
July 13, 2015 (LBO) – Sri Lanka’s stocks closed up 0.27 percent on Monday for a third consecutive session with plantation and telecom sector stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed 18.66 points higher at 7,002.78 up 0.27 percent. The S&P SL20 closed 11.17 points higher at 3,916.44 up 0.29 […]
Sri Lanka sells USD301mn of one and two year development bonds
July 13, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 75 million US dollars have been oversubscribed with 301.0 million US dollars of bids received from investors. The central bank has accepted 291.0 million US dollars of one year and one month bonds at a floating rate of weighted average margin […]
Sri Lanka ready to select new legislators for Parliament : Nominations closed
July 13, 2015 (LBO) – Acceptance of nominations for the forthcoming General Election which is to be held on 17 August 2015, ended today at 12.00 noon, the Elections Department announced.The nomination list of the United National Party showed that Champika Ranawaka, Mano Ganeshan and Western Provincial Councilor Hirunika Premachandra are among those contesting under […]
Otara launches Foundation for environmental sustainability and animal welfare
July 13, 2015 (LBO) – Sri Lanka’s fashion entrepreneur and animal lover Otara Gunewardene, has launched a non-profit foundation dedicated to improving the lives of all animals, communities and the environment, a statement said. “There is no business that we engage in which is more important than preserving the environment we have been blessed with,” […]
Sri Lank tourism infrastructure still has visible gaps: Report
July 13, 2015 (LBO) – Sri Lanka has to continue to invest in improving domestic transport and air connectivity in order to realize the full potential of the industry, a report by a stockbroker said. “At present Sri Lanka’s road network is improving at a slow but steady pace with some of the key areas […]