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Sri Lanka opposition lauds move to amend casino approvals
Oct 23, 2013 (LBO) – Sri Lanka’s main opposition United National party hailed a move by the administration to delay final approval for tax breaks, for casino resorts which had come under fire.“We are happy to note the hard fought victory for the people of Sri Lanka in round one of the ongoing battle to […]
‘s DFCC launches bond: report
Oct 22, 2014 (LBO) – Sri Lanka’s DFCC Bank has launched a 5-year dollar denominated bond in international markets, a media report said. DFCC is rated ‘B’ by S&P and ‘B+’ by Fitch. Bloomberg Newswires said initial price guidance has been set at around 9.6 percent. DFCC is a listed private bank. Sri Lanka’s state-run […]
Sri Lanka stocks down 0.36-pct, rupee steady
Oct 22, 2013 (LBO) – Sri Lanka stocks closed 0.36 percent lower dragged down by tobacco and diversified stocks. The benchmark Colombo All Share Price Index fell 21.43 points lower at 5,925.22, down 0.36 percent, after reaching an intraday high of 5,952.01. The S&P SL20 closed 14.95 points lower at 3,272.58, down 0.45 percent. Turnover […]
Online Banking
Oct 21, 2013 (LBO) – Sri Lanka-based Commercial Bank of Ceylon, the island’s largest private lender by assets, said its unit in Bangladesh has launched an internet banking service. Commercial Bank customers in Bangladesh will be able to pay Grameen Phone Company bills and school fees. “Bangladesh has a rapidly growing customer segment that will […]
Sri Lanka to amended approvals to casino resorts
Oct 22, 2013 (LBO) – Sri Lanka will issue new gazettes clarifying tax breaks offered to two casino resorts, and is also looking to come up with rules to address concerns raised, investment promotions minister Lakshman Abeywardene said.Two gazette notices giving tax breaks to large integrated resorts involving casinos to be built by Sri Lanka’s […]
Sri Lanka JKH says project has not changed amid approval delay
Oct 22, 2013 (LBO) – Sri Lanka’s John Keells Holdings says the size and scope of a 650 million US dollar plus project which also involves a casino has not changed as investment approvals appeared to be taking longer.Tax breaks for two casino resorts, the second to be built by Australia’s Crown group were due […]
Maldives reschedules presidential vote for November
MALÉ, October 21, 2013 (AFP) – Maldives officials on Monday rescheduled the country’s presidential election, two days after police blocked the last attempt to hold a vote saying it was illegal.“Dear all, 1st round of the Presidential elections to be held on Nov 9th and 2nd round on Nov 16th,” the independent Elections Commission chief […]
Sri Lanka begins budget process for 2014
Oct 22, 2013 (LBO) – Sri Lanka is kicking off the budget process for 2014 presenting spending limits or appropriations for ministries in parliament Tuesday. Among key spending amounts set for ministries include 253 billion rupees for defence and urban development down from 289 billion rupees a year earlier, ports and highways 144 billion rupees […]
Sri Lanka stocks down 0.50-pct, rupee steady
Oct 21, 2013 (LBO) – Sri Lanka stocks closed 0.50 percent lower with heavy trading in diversified and banking stocks amidst speculative play, brokers said. The benchmark Colombo All Share Price Index closed 29.86 points lower at 5,946.65, down 0.50 percent, after peaking at an intraday high of 5,979.23, provisional data showed. The S&P SL20 […]
Housing Debt
Oct 21, 2013 (LBO) – Sri Lanka’s HDFC Bank, a 51 percent state-owned mortgage lender said it was offering listed yielding as much 15.5 percent a year. HDFC Bank is offering 1.0 billion rupees of debt with an option to sell another 1.0 billion rupees in case the first tranche is oversubscribed. The firm is […]
Sri Lanka Crown casino resort fields cricket ambassadors
Oct 21, 2013 (LBO) – A proposed casino resort in Sri Lanka by James Packer’s Crown group has appointed as its ambassadors, Australian cricket captain Micheal Clarke and Vivien Greig, whose husband Tony is a household name in the island. Crown group is building what it calls a landmark iconic resort by the side of […]
Sri Lanka exports up 10.7-pct in August, imports down
Oct 21, 2013 (LBO) – Sri Lanka’s exports rose 10.7 percent to 917.8 million US dollars in August 2013 from a year earlier, and import dropped 7.7 percent to 1.6 billion US dollars, the Central Bank said.Export earnings from tea grew 49.3 percent to 142.8 million US dollars and apparel exports barely grew 2.1 percent […]