Category:
Capital Rating
Apr 22, 2014 (LBO) – Sri Lanka’s Dunamis Capital Plc, had been rated ‘BBB+’ with a ‘stable’ outlook and a proposed debt billion rupee debt sale ‘BBB’ by Colombo based Ram Ratings Lanka Plc. Dunamis has interests in primary dealing, stock brokering, margin trading, debt structuring, asset management and property development. The full statement is […]
Sri Lanka detains British tourist over Buddha tattoo
COLOMBO, April 22, 2014 (AFP) – Sri Lanka has detained a female British tourist for having a Buddha tattoo on her right arm and ordered her deportation, police said Tuesday.The unidentified woman was arrested at the country’s main international airport on Monday and appeared before a magistrate who ordered her deportation, police said in a […]
”’ statement
NEW DELHI, April 22, 2014 (AFP) – Indian election frontrunner Narendra Modi on Tuesday condemned virulent anti-Muslim remarks by a one-time associate as he sought to keep attention on his core message of development and corruption-free administration.The BJP, last in power from 1990 to 2004, is widely forecast to emerge as the biggest party in […]
Sri Lanka inspiring entrepreneur: innovation comes from within
Apr 22, 2014 (LBO) – An inspiring Sri Lankan entrepreneur who broke into a global supply chain in precision tech components for the automobile industry says innovation comes from within.“I am usually not a person that complains,” Rohan Pallewatte, head of Lanka Harness Company (Pvt) Ltd, a precision manufacturing firm that makes impact sensors for […]
Sri Lanka Italy businesses in forum with Harsha
Apr 22, 2014 (LBO) – Sri Lanka-Italy Business Council, of the Ceylon Chamber of Commerce said it is hosting a forum on ‘post war dividends’ where Harsha de Silva, an economist and legislator will speak. De Silva, who is the key economic spokesman at Sri Lanka’s United National Party, will speak on “The Road to […]
Sri Lanka rates unchanged; lower state borrowings to boost credit: Central Bank
Apr 22, 2014 (LBO) – Sri Lanka’s central bank held policy rates unchanged in April saying reduced central government and state enterprise borrowings has created conditions for private credit to pick up. Rice taxes have been relaxed ahead of the drought though prices are now up. Meanwhile traders have been slapped with price controls. Sri […]
Sri Lanka stocks close up 0.1-pct
Apr 21, 2014 (LBO) – Sri Lanka’s stocks close higher Monday with index heavy stocks gaining amid net foreign buying on the exchange, brokers said. The Colombo benchmark All Share Price Index closed 6.27 points higher at 6,187.03 up 0.10 percent. The S&P SL20 closed 6.92 points higher at 3,394.94, up 0.20 percent. Turnover was […]
Tax Charge
Apr 21, 2014 (LBO) – A 10 percent transfer tax will be imposed when a vehicle bought on a duty-slashed permit given to Sri Lanka state workers are transferred to a private citizen, a media report said.Sri Lanka The Sunday Times newspaper citing a circular by the Ministry of Finance said a vehicle that is […]
Cash Drawdown
Apr 21, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said customers withdrew a record 2.05 billion rupees from teller machines on Friday April 11, a new daily high in the run up to a traditional New Year holiday. The number transactions processed was 245,000 lower than a previous record of 325,000 which the […]
Private Equity
Apr 21, 2014 (LBO) – Sri Lanka needs private equity to play a bigger role in financing business which will help them grow faster with less leverage and become world beating firms, the Central Bank said. Financial sector professionals have attributed it to lack of skills of those who were taken to manage them, some […]
Take Home
COPENHAGEN, April 20, 2014 (AFP) – A Danish website is turning private homes into take-away restaurants by letting users advertise what they are cooking, when and for what price.“Sometimes I only put one serving up for sale, sometimes up to 20. It depends on what I’m making and how much time I have,” said Ana […]
Sri Lanka port profit, revenues down despite higher volumes
Apr 20, 2014 (LBO) – Operating profits at Sri Lanka’s Ports Authority fell 53.4 percent to 2.4 billion rupees in 2013 with revenues also down 2.3 percent to 37.2 billion rupees, despite an increase in container volumes at Colombo, official data showed. Expenditure had increased 5.8 percent to 34.8 billion rupees. Containers handled in Colombo […]