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Sri Lanka stocks close down 1.9-pct
Oct 13, 2014 (LBO) – Sri Lanka’s stocks closed 1.87 percent lower amid banking stocks losing ground with the central bank’s guidelines on tax incentives to promote financial sector consolidation, brokers said. Commercial Bank of Ceylon closed 9.90 rupees lower at 157.30 rupees and DFCC Bank closed 14.40 rupees lower at 215.40 rupees, contributing most […]
Sri Lanka Eastern province is to be promote as global natural and cultural destination
Oct 10, 2014 (LBO) – Sri Lanka’s Eastern province, is to be promoted as a world-class natural and cultural destination by National Geographic Maps, to improve the contribution of tourism to local economic growth by promoting geo tourism. Geo tourism is a form of tourism that sustains or enhances the geographical character of a destination’s […]
’s: Chamber
Oct 13, 2014 (LBO) – Sri Lanka’s small and medium enterprises are encouraged to partner with big companies, so they could take advantage of consumer market and finance. The forum has organized by the Ceylon Chamber of Commerce who will bring together all stakeholders in the SME sector including policy makers, banks, service providers, technocrats […]
’s
Oct 13, 2014 (LBO) – Sri Lanka needs a credit rating system especially for the small and medium businesses to have easy access to finance, said Saman Kelegama, director of the Institute of Policy Studies, a think tank. Access to finance remains a key constraint for SME’s growth, with a one trillion dollar credit gap […]
Sri Lanka gets US$1.3bn in FDI by October: Ministry of Investment Promotion
Oct 11, 2014 (LBO) – Sri Lanka is estimated to have received about 1.3 billion US dollars of foreign direct investment by October 2014, investment promotions minister Lakshman Abeywardene said. There will be 23,600 new jobs created if these FDI’s successful. BOI enterprises have exported 4.84 billion US dollars’ up to October worth of goods […]
’s pensioners to get a digital ID
Oct 11, 2014 (LBO) – Sri Lanka’s Department of Pensions launches a digital identity card for pensioners in partnership with Sampath Bank, a private lender in the island, the bank said in a media release. The official launch of the card held 9th September 2014 at Pensioners ’Resort in Kelaniya with the participation of over […]
Sri Lanka stocks close down 0.9-pct
Oct 10, 2014 (LBO) – Sri Lanka’s stocks closed 0.88 percent lower with tobacco and banking stocks losing ground amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 65.08 points lower at 7,321.00, down 0.88 percent. The S&P SL20 closed 41.33 points lower at 4,110.02, down 1.00 percent. Turnover was […]
New Cable
Oct 10, 2014 (LBO) –Sri Lanka Telecom said it would invest 40 million US dollars to build new submarine cable system which connect Singapore to Europe via Sri Lanka. Silva said as SLT’s major traffic routes are connected to key destinations in Europe, Asia Pacific and Indian regions, the upcoming SEA-ME-WE 5, would boost country’s […]
’s Central Bank asks banks to reduce pawning advances interest rate
Oct 10, 2014 (LBO) – Sri Lanka’s Central Bank has requested all banks who are participating in the Credit Guarantee Scheme supported by the Government to reduce the applicable interest rate for such pawning advances to 12 per cent from the current rate of 15 per cent, with immediate effect. At present, 12 banks have […]
Sri Lanka stocks close down 0.13-pct
Oct 09, 2014 (LBO) – Sri Lanka’s stocks closed lower with tobacco and diversified stocks losing ground amid thin foreign participation, brokers said. Ceylon Tobacco Company closed 9.90 rupees lower at 1,150.10 rupees and John Keells Holdings closed 1.10 rupees lower at 252.00 rupees, contributing most to the index drop. JKH’s W0022 warrants closed 60 […]
‘s 2015 budget is not targeted at elections: Treasury Secretary
Oct 09, 2014 (LBO) – Sri Lanka’s budget for the year 2015 is more towards development rather than catering to mere election purposes, Treasury Secretary P B Jayasundera said. The 2015 budget will be presented to the parliament on 24, October 2014. “Although there was a reference made in the last weekend media that the […]
Sri Lanka external trade expands in August
Oct 09, 2014 (LBO) – Sri Lanka’s exports rose 7.9 percent, to 991.3 million US dollars in August 2014 from a year earlier with 85.6 percent contribution of apparel exports, official data showed. Apparel exports grew 17.0 percent to 428.6 million US dollars in August 2014, the Central Bank said. Exports of machinery and mechanical […]