Category:
Tax concessions and benefits for public servants announced during VoA
Oct 28, 2019 (LBO) – Finance Minister Mangala Samaraweera announced tax concessions and benefits for public servants at the time of presenting the Vote on Account, recently in parliament. The Vote on Account presented by Finance Minister Mangala Samaraweera in parliament for the first 4 months of 2020 was passed unanimously. Recurrent and capital expenditure […]
Moody’s Analytics Knowledge Services Lanka to expand its IT services
Oct 28, 2019 (LBO) – Sri Lanka’s Board of Investment signed a supplementary agreement with Moody’s Analytics Knowledge Services Lanka (Pvt) Ltd to expand its IT-enabled Services. The project will provide IT-enabled research and analysis services for export, provide editorial, desktop processing and compliance services, financial training, research and analysis services in respect of overseas […]
Sri Lanka calls for collective action to address global challenges
Oct 28, 2019 (LBO) – Sri Lanka’s Foreign Minister Tilak Marapana reaffirmed Sri Lanka’s commitment to the founding principles of the Non-Aligned Movement and called for the group’s collective attention to the need to address contemporary global challenges, highlighting in particular, poverty and terrorism. He was addressing the 18th Summit of the Non-Aligned Movement (NAM) in […]
Vistara airline to launch direct flights between Mumbai & Colombo
Vistara, India’s finest full-service carrier and a joint venture of Tata Sons and Singapore Airlines, today announced a daily (except Wednesdays) direct service to Colombo, Sri Lanka from 25 November 2019 onwards, making it the fourth international destination in its fast-expanding network. The airline will fly its Airbus A320neo aircraft with three-class cabin configuration between […]
The Finance Company looking at a new investor
Oct 25, 2019 (LBO) – The Finance Company (TFC) is currently working with a company that has expressed its interest to invest at TFC as a shareholder through a private placement, the company today said in a stock exchange filing. “The investor is pursuing his actions to provide the proof of funds and also TFC […]
SEC to launch round table discussion with auditors & capital market stakeholders
The Securities and Exchange Commission of Sri Lanka (SEC) will for the first time in its history, launch a “Round Table Discussion with Auditors and other Capital Market Stakeholders” on Thursday 31st October 2019 from 2.30 p.m. to 6.30 p.m. at Hilton Colombo. In a letter of invitation addressed to multidisciplinary Institutions and Professionals, the […]
John Keells Hotels (KHL) reports losses of Rs470mn on 27% drop in revenue
October 25, 2019 (LBO) – Colombo Stock Exchange (CSE) listed John Keells Hotels PLC (KHL), the subsidiary of John Keells Holdings (JKH) which owns resort hotels in Sri Lanka and the Maldives, reported sharp losses for the quarter ended September 30, 2019. KHL lost Rs470mn (US$2.6mn) in the three month period with revenues down 27% […]
‘s developing country status that includes wealthiest countries
Oct 25, 2019 (LBO) – South Korea is to give up special treatment reserved for developing countries by the World Trade Organization in future negotiations given its enhanced global economic status, its finance minister said on Friday. South Korea, Asia’s fourth-largest economy, has maintained its developing country status as a member of the WTO since […]
Otara Gunewardene resigns from Singer Sri Lanka board
Oct 25, 2019 (LBO) – Otara Gunewardene has tendered her resignation from Singer Sri Lanka board which will be effective from 31 December 2019. The company said in a stock exchange filing that she does not have any relevant interests in shares of the Company as specified in the listing rules as at date. Joined […]
Sri Lanka ranked 99th in new Doing Business Index
Oct 24, 2019 (LBO) – Sri Lanka is ranked as 99th out of 190 countries with a score of 61.8 in Doing Business 2020 report released by the World Bank. The Doing Business report presents quantitative indicators on business regulations and the protection of property rights that can be compared across economies. As per the […]
Advantis Engineering completes modular construction at Jaffna Airport in 2 months
Due to fast-moving economic conditions present in Sri Lanka, utmost importance is placed on the lead time of construction projects in order to satisfy all key stakeholders. Advantis Engineering, an industry leader in rapid, innovative, bespoke space solutions which are a step ahead of its time, utilized its technical expertise in large scale modular construction […]
First Capital recommends investors to increase exposure in mid-long tenor bonds
Oct 24, 2019 (LBO) – First Capital Research recommends investors to increase overall fixed income portfolio exposure to 50 percent from 45 percent. The firm also recommends cutting carrying portfolio to 15 percent from 30 percent and to increase trading portfolio to 35 percent from 15 percent. “We recommend cutting short tenor maturities of the […]