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‘s Foreign Minister to visit Japan next week
June 10, 2015 (LBO) – Sri Lanka’s Foreign Minister Mangala Samaraweera will visit Japan from 17 to 20 June as a Guest of Japanese Foreign Affairs Minister Fumio Kishida.During the visit, Samaraweera will hold bilateral discussions with Minister Kishida on issues of mutual interest including promoting cooperation in the political, economic and cultural spheres, in […]
Sri Lanka’s three month treasury bill yields up
June 10, 2015 (LBO) – Sri Lanka’s six and twelve month treasury bill yields close flat at Wednesday’s auction with the three month yield up by one basis point, data from the state debt office showed.3-month yield was up at 6.08 percent with 13,974 million rupees were accepted from 19,770 million rupees of bids.6-month yield […]
Sri Lanka’s Seylan Bank launches new breed of credit cards
June 10, 2015 (LBO) – Sri Lanka’s Seylan Bank launched a new line of credit cards eliminating all fees and slashing down the interest rate, the bank said.“We found that while consumers appreciate the security and convenience offered by credit cards, they are increasingly weary of the plethora of fees charged,” Kapila Ariyaratne, Director and […]
Sri Lanka’s E B Creasy and Lankem reassess direct and indirect investments
Jun 10, 2015 (LBO) – Sri Lanka’s E B Creasy and Lankem says they have assessed their direct and indirect investments and categorized some of them as associates.According to the Sri Lanka financial reporting standard 10, these two companies have determined that it does not control the below mentioned indirect investments and they should not […]
SEC issues directive to hold debt issue of EAP Broadcasting
June 10, 2015 (LBO) – Sri Lanka’s securities watch dog issued a directive to EAP Broadcasting to hold its debt issue citing a conflict of interest arising in the credit rating of the company’s debenture.The decision was taken at a meeting of the Securities and Exchange Commission of Sri Lanka held Monday (09),2015 which deliberated […]
China, Sri Lanka pledge to strengthen military cooperation
Jun 10, 2015 (LBO) – China and Sri Lanka said they would strengthen military cooperation following Chinese Defense Minister Chang Wanquan meeting with Navy Commander Jayantha Perera in Beijing, China.“China is willing to make full use of the dialogue, expand cooperation and exchanges in various fields and levels, and maintain the smooth development of military-to-military ties,” […]
Sri Lanka government revenues up 21-pct over the first five months of 2015
June 10, 2015 (LBO) – Sri Lanka’s government revenues have increased 21 percent over the first five months of this year against the same period last year, Deputy Minister of Policy Planning Dr. Harsha de Silva told Parliament Tuesday. As per the latest data the government has collected 492 billion rupees by May 2015 against […]
Sri Lanka stocks close down 0.2-pct: Political uncertainty keeps investors away
Jun 09, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.16 percent with investors keeping away due to the prevailing unstable political climate and losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 11.55 points lower at 7,067.11 down 0.16 percent. The S&P SL20 closed 8.48 points […]
UNP eyes 125 seats in next Parliament with majority sinhala votes: Minister
June 09, 2015 (LBO) – Sri Lanka’s ruling United National Party on Tuesday said they are aiming to secure 125 seats in the next Parliament.“This time we want to take the lead from the Sinhalese votes,” UNP Deputy General Secretary Akila Viraj Kaiyawasam stressed. Sri Lanka’s single lagest party was earlier charged for the notion […]
Australia helps Sri Lanka increase milk production
Jun 09, 2015 (LBO) – Australia’s Wellard Rural Exports, a live cattle exporter is in partnership with the National Live Stock Development Board (NLDB) of Sri Lanka to supply dairy cows and build new infrastructure to increase milk production, a statement said.“In phase one of the development project, Wellard supplied 2000 dairy cows to three […]
What should come first in Sri Lanka’s debt market, Regulation or Development?
June 9, 2015 (LBO) – Sri Lanka needs to allow the debt market development through producing new products before regulating it, since the market is pacing fast and changing day by day, Ajith Fernando, chief of Capital Alliance Sri Lanka said. “The regulator has to move away from stopping everything that they can’t regulate,” Fernando […]