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Sri Lanka CSE to set up a clearing house with UK’s BTA Consulting
Mar 23, 2015 (LBO) – The Colombo Stock Exchange has signed an agreement with UK’s BTA Consulting to provide consultancy and project management services to set up a clearing house in Sri Lanka. The full text of the CSE announcement is reproduced below. CSE signs consultancy agreement with BTA Consulting, UK to set up a […]
Sri Lanka sets up a National Government with new ministers
Mar 22, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena on Sunday formed a new national government absorbing SLFP parliamentarians in the opposition as new ministers.The President has appointed 11 new cabinet ministers, 5 State Ministers and 10 Deputy Ministers, the president media said. Cabinet Ministers 1. A.H.M.Fowzie – Minister of Disaster Management 2. S.B.Nawinna […]
Sri Lanka bestows Sarath Fonseka with Field Marshal title
Mar 22, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena on Sunday awarded the Field Marshal title to former Army Commander General Sarath Fonseka for the service rendered by him, achieving the victory over terrorism. The title ‘Field Marshal’ is an honorary and respected title bestowed by the Army and only a handful has been […]
Sri Lanka to establish a National Government today: Minister
Mar 22, 2015 (LBO) – Sri Lanka Freedom Party (SLFP) is to join the government today forming a national government in the island, a vice president of SLFP Minister Rajitha Senaratne said.Addressing a gathering at Kalutara, Senaratne revealed that SLFP parliamentarians are to take cabinet portfolios. “Today is another historic day.Sri Lanka Freedom Party who […]
Sri Lanka’s Central Bank offers Rs30bn in 4 and 8 year bonds
Mar 21, 2015 (LBO) – Sri Lanka has offered 10.0 billion rupees in 4 year bonds and 20.0 billion rupees in 8 year bonds, the state debt office of the Central Bank said.The 4 year bonds with a coupon of 10.6 percent would mature on 15 September 2019 while the 8 year bonds with a […]
Sri Lanka’s Central Bank offers Rs30bn in 4 and 8 year bonds
Mar 21, 2015 (LBO) – Sri Lanka has offered 10.0 billion rupees in 4 year bonds and 20.0 billion rupees in 8 year bonds, the state debt office of the Central Bank said. At the last auction held in 17 March 2015, 4 year bonds were sold at an average yield of 9.13 percent and […]
Sri Lanka’s SEC directs Kalpitiya Beach Resort to call an EGM
Mar 20, 2015 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) has directed Kalpitiya Beach Resort to call an extraordinary general meeting for not complying with a construction work stated in the prospectus.In 2011, Kalpitiya Beach Resort has raised 283.5 million rupees from an initial public offering stating that the funds will be utilized […]
Microsoft’s Power BI free preview now available in Sri Lanka
Mar 20, 2015 (LBO) – Microsoft Corporation recently allowed worldwide customers to experience the free preview of their improved cloud-based business analytics service introduced for non-technical business users. The service first unveiled in January, referred to as Power BI; can keep a pulse on businesses by bringing all the data together and monitor it through […]
Sri Lankas’s Access Engineering accepts new govt.’s position on BIA runway contract: Chairman
Mar 20, 2015 (LBO) – Sri Lanka’s Access Engineering, a construction company said they have no issue in accepting the new government’s decision to annul the contract awarded overlay the islands airport runway, it’s Chairman said.“We have no issue with this, we don’t see it as a problem,” Sumal Perera, chairman, Access Engineering told LBO […]
Sri Lanka’s new government’s mini budget sends a filthy message; Entrepreneurs are extremely unhappy: Corporate Lawyer
Mar 20, 2015 (LBO) – Sri Lanka’s entrepreneurs are extremely unhappy with the new administration’s interim budget 2015 which was approved by parliament last month including one-off and super gain taxes, Naomal Goonewardena,partner of Nithya partners, a corporate law firm said. “You can’t decide anything with the mini budget except the fact that there is […]
Sri Lanka’s regional plantation companies report Rs. 2,850 mn losses in 2014: Planters Association
Mar 20, 2015 (LBO) – Sri Lanka’s planters associations says about 19 Regional Plantation Companies’ (RPCs) have reported a loss amounting to 2,850 million rupees due to low prices in the world market and high production costs. “By end of 2014, on average the RPCs were making a loss of approximately 30 rupees per kilogramme […]
Sri Lanka’s inconsistent policy drives investors away, early elections will help: Investment Advisor
Mar 20, 2015 (LBO) – Sri Lanka’s policy inconsistency is unhealthy for foreign investments while the new mini budget does not send the right signals to the FDI community, an investment advisor said. “In my role as a banking partner at KPMG, we get lot of investors who come and one of the things they […]