Category:
Doing Business
Oct 29, 2014 (LBO) – Sri Lanka has slipped to 99 from 85 in a global ranking compiled by the World Bank group as several other nations raced ahead despite an improvement in the score between 2013 and 2014. The report further said Sri Lanka has made paying taxes more costly for companies by increasing […]
Sri Lanka stocks close higher
Oct 28, 2014 (LBO) – Sri Lanka’s stocks closed 0.08 percent higher with tobacco and beverage stocks gaining amid strong foreign buying into diversified holdings, brokers said. The Colombo benchmark All Share Price Index closed 6.04 points higher at 7,227.12, up 0.08 percent. The S&P SL20 closed 6.12 points lower at 4,008.10, down 0.15 percent. […]
Capital Gain
Oct 28, 2014 (LBO) – Sri Lanka’s Bank of Ceylon (BOC) to receive 10 billion rupees from budget 2015 in order to strengthen the capital of the bank. President Mahina Rajapaksa said this presenting the budget to the parliament last week. BOC’s profits before tax increased 20 percent to 8.6 billion rupees the first half […]
’’s national IFS rating downgraded: Fitch
Oct 28, 2014 (LBO) – Sri Lanka’s Fitch Ratings has downgraded the national insurer financial strength rating and national long term rating of Asian Alliance Insurance to ‘BBB(lka)’ from ‘BBB+(lka)’ placing both ratings on rating watch negative. Fitch Downgrades Asian Alliance Insurance’s National IFS Rating to ‘BBB(lka)’ Fitch Ratings-Hong Kong/Colombo/Singapore-27 October 2014: This commentary replaces […]
Sri Lanka to promote local milk production: Budget 2015
Oct 28, 2014 (LBO)-Sri Lanka to increase the guaranteed price of liquid milk to 60 rupees per liter in order to increase local milk production and popularize the local milk production. President Mahinda Rajapakse proposed this presenting the budget 2015, at the Parliament, Colombo. I now propose to increase the guaranteed price of liquid milk […]
Sri Lanka stocks close up 0.1-pct
Oct 27, 2014 (LBO) – Sri Lanka’s stocks closed 0.11 percent higher with index heavy John Keells Holdings contributing most to the index gain, brokers said. Foreign investors bought 374.85 million rupees worth shares while selling 377.37 million rupees worth shares. Dialog Axiata closed 20 cents higher at 12.20 rupees and John Keells Holdings closed […]
Sri Lanka Chamber welcomes budget 2015
Oct 27, 2014 (LBO) –Sri Lanka’s Ceylon Chamber of Commerce welcomes the ‘National Budget of 2015’ which is presented to the parliament last week, the chamber said in a media release. The Media Release by Ceylon Chamber of Commerce The Ceylon Chamber of Commerce welcomes the commitment to continued fiscal consolidation in the Budget 2015, […]
Marina Study
Oct 27, 2014 (LBO) – Sri Lanka’s Colombo port city is to undergo a multidisciplinary marina study by Atkins, one of the world’s leading design, engineering and project management consultancies, a media release said. Atkins has been appointed by China Harbour Engineering Company to assess the opportunity of incorporating a marina into the proposed 2.5sqkm […]
Sri Lanka to continue relaxing exchange controls: Deputy Governor
Oct 27, 2014 (LBO) – Sri Lanka will continue to liberalize exchange controls to encourage the investments that needed to maintain high economic growth and to link more with global business Central bank Deputy Governor P Samarasiri said.He said the exchange control activities started in Second World War to protect the foreign exchange earnings they […]
Sri Lanka to increase certified price for rubber: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka President in his capacity as the Minister of Finance said the government is expecting to increase the certified price for rubber to 300 rupees per kilogram and increase the Cess tax on rubber imports by 10 rupees per kilo.The funds will be allocated to modernise the Tea (TRI) […]
Sri Lanka small medium tea planters subsidy increased: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka government to increase replanting subsidy to small medium tea planters from 875,000 rupees to one million rupees per acre, President Mahinda Rajapaksa said presenting a budget for 2015.The extent of the island’s tea plantations is 206104 hectares of which 70 percent are small holdings that are cultivated by […]
Sri Lanka government is to allocate 15,000 million rupees for irrigation projects: Budget 2015
Oct 25, 2014 (LBO) – Sri Lanka’s government to allocate 15,000 million rupees to develop irrigation system in the Island, President Mahinda Rajapaksa said presenting a budget for 2015.Sri Lanka which has a rich history in hydrology has some of the best man-made lakes in the world.Most of the island’s lakes or Samudraya’s were built […]