Category:
ADB urges Asia to take advantage of global value chain opportunities
Sep 26, 2014 (LBO) – Asian economies, having reaped substantial gains from global value chains in the past 25 years, can extend these gains if governments and business work together to reduce tariffs and non-tariff trade barriers, and improve logistics and transport infrastructure, says a new Asian Development Bank (ADB) report. •GVCs thrive only where […]
Sri Lanka stocks close down 0.3-pct
Sep 25, 2014 (LBO) – Sri Lanka’s stocks closed in red owing to negative price movements on counters such as Sri Lanka Telecom and Commercial Bank, brokers said. Sri Lanka Telecom closed 1.30 rupees lower at 51.90 rupees and Commercial Bank of Ceylon closed 1.70 rupees lower at 157.20 rupees, contributing most to the index […]
Equity Fund
Sep 25, 2014 (LBO) – Sri Lanka’s Ironwood Capital Partners, a private equity firm says that it has raised 30 million dollars for private equity investment vehicle for Sri Lanka post-2009 with an aim of strengthen the national economy through key strategic investments and support the development of the private equity industry in the country. […]
SEC rules
Sep 25, 2014 (LBO) – Sri Lanka Security Exchange Commission says the managing companies and trustees of unit trust should maintain a minimum number of fifty unit holders for each fund at all the times, the commission said in the media release. Where the minimum number if unite holders falls below the specified minimum threshold […]
British Airways to cease flights to Colombo by March 2015
Sep 25, 2014 (LBO) – British Airways announced that the flights operations to Colombo will be ceased from 28th March 2015 due to an unprofitability that the route makes, the company said in a media release.The Colombo route is not making a profitable contribution to our business and we are unable to sustain it, Christopher […]
Developing Asia remains the fastest growing region: ADB
Sep 25, 2014 (LBO) -Developing Asia remains the fastest growing region globally despite slower-than-expected growth in major industrial countries as key economies in the region move ahead with structural reforms, says a new Asian Development Bank (ADB) report. Slowing external demand has hurt some economies in the region but as a whole Asia and the […]
“‘s private sector credit growth is not healthy” says IASL Chairman
Sep 24, 2014 (LBO) – Sri Lanka Industrial association says despite conducive interest rates and stable inflation, the weakening of the islands ‘private sector credit growth is not healthy to achieve economic targets.Speaking further Jayasinghe said it is needed to have a sound and clear industrial policy frame work to increase the industry sector contribution […]
Sri Lanka rejects bids for 6-month treasuries
Sep 24, 2014 (LBO) – Sri Lanka has rejected bids for 6-month treasuries at an auction held Wednesday without calling any bid for three month, the government’s debt office said. The 12-month yield fell 37 basis points to 5.89 percent. The debt office which is part of the island’s central bank said 12.92 billion in […]
Sri Lanka stocks close down 0.1-pct
Sep 24, 2014 (LBO) – Sri Lanka’s stocks closed 0.09 percent lower with the losses in counters such as Commercial Leasing and Finance and Bukit Darah, brokers said. Ceylon Tobacco Company closed 5.00 rupees higher at 1,160.00 rupees and John Keells Holdings closed 90 cents higher at 254.80 rupees. Cargills Ceylon closed 2.80 rupees higher […]
Sri Lanka Anilana Resorts and Properties in right issue
Sep 24, 2014 (LBO) – Sri Lanka’s Anilana Hotels and Properties Limited is to issue 109,624,114 ordinary shares for its shareholders to raise money to settle an existing debt and to finance the balance construction of a hotel project in Dambulla Sri Lanka, the company said in a Colombo Stock Exchange announcement. The rights issue […]
’ support for a critical WTO call
Sep 24, 2014 (LBO) – The State of Qatar asks Sri Lanka’s supports towards its request to the World Trade Organization to deem natural gas and its derivatives as environmentally-friendly products, a media released issued by Ministry of economy and commerce said. We also look forward to more of Sri Lankan private sector contribution in […]
Sri Lanka stocks close higher
Sep 23, 2014 (LBO) – Sri Lanka’s stocks closed 0.06 percent higher with telco and palm oil stocks gaining amid net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 4.23 points higher at 7,260.64, up 0.06 percent. The S&P SL20 closed 0.78 points lower at 4,030.09, down 0.02 percent. Turnover was […]