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‘s budget is not good enough to win an election
March 7, 2019 (LBO) – Prominent UNP politicians are coming to the forefront to laud Finance Minister Mangala Samaraweera and his budget proposals as people friendly and positive drivers of the economy. The Finance Minister himself described the budget as ‘caring and values driven’ at a recent post budget seminar. Despite what are good intentions, […]
Pakistan High Commissioner meets Opposition Leader Mahinda Rajapaksa
High Commissioner of Pakistan, Major General (R) Dr. Shahid Ahmad Hashmat paid a courtesy call on Opposition Leader of Sri Lanka, Mahinda Rajapaksa on March 6, 2019. The High Commissioner briefed him on the latest security situation in the region.He underscored Pakistan’s desire for peace and stability in the region and resolution of all issues […]
Colombo Land Price Index records 18-pct increase in 2H 2018
Mar 07, 2019 (LBO) – Land Price Index (LPI) for Colombo District, compiled by the Central Bank reached 125.9 during the 2nd half of 2018, recording an increase of 18 percent compared to the 2nd half of 2017.The three sub-indices of LPI, namely residential, commercial and industrial have contributed to this increase. LPI is compiled covering […]
‘s new VAT laws
Mar 07, 2019 (LBO) – Condominium developers are urging buyers to profit from the new VAT laws as all condominiums are about to go up in price soon.After the 1st of April, any condominium buyer will have to pay 15 percent VAT on top of the purchase price.Eduard Hempel, Director of Tamba Villas says that […]
Stock investor Nimal Perera takes to twitter to bash the CSE
March 7, 2019 (LBO) – Controversial stock market investor Nimal Perera has taken to twitter to make critical remarks about the poor performance of the Colombo Stock Exchange (CSE). His remarks centred on the dismal trading volume and lack of IPOs in the market. In October Nimal Perera disclosed his stock positions to the Daily […]
‘s upcoming USD bonds an expected rating of B (EXP)
Mar 07, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B (EXP)’. The rating agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a stable outlook. The agency, however, said that the rating would be sensitive […]
‘s former CB Gov. Mahendran on INTERPOL red alert for 2nd time
Mar 07, 2019 (LBO) – Sri Lanka’s President Maithripala Sirisena said the INTERPOL has issued a red notice for the arrest of absconding former Central Bank Governor Arjuna Mahendran for the second time after hearing an appeal. He said that Mahendran has appealed to INTERPOL against the red notice issued earlier and a judge was […]
Japan grants USD1.4Mn to UNFPA to improve access to sexual & reproductive health
Mar 07, 2019 (LBO) – The Government of Japan and the United Nations Population Fund (UNFPA) in Sri Lanka signed an agreement, granting US 1.4 million dollars for improving access to information and services on sexual and reproductive health for women and girls in Sri Lanka. The three year programme includes access to services for […]
SLASSCOM and Norway sign letter of intent for ICT development and entrepreneurship
Mar 06, 2019 (LBO) – The Sri Lanka Association of Software and Services Companies (SLASSCOM) and the Norwegian Ministry of Foreign Affairs expressed their intent to further collaborate in developing the Information and Communication Technology (ICT) sector for sustainable employment generation in the future, and to bring about innovation through knowledge transfer programs. A letter […]
Realistic budget but concern on growth & implementation: Ceylon Chamber
Mar 07, 2019 (LBO) – The Ceylon Chamber of Commerce says that the GDP growth estimates provided in the budget speech, for the period from 2019-2024 are of concern as it only expects growth to gradually rise from 3 percent in 2018 to 4.8 percent by 2024. “The growth estimates for this period is not […]
Sri Lanka to join hands with UK to co-sponsor roll over resolution at UNHRC
Mar 06, 2019 (LBO) – Sri Lanka will join hands with the core group leader UK in co-sponsoring the roll-over resolution at the UN Human Rights Council, releasing a joint statement, the Foreign Ministry said. The joint statement has been released by the Ministry of Foreign Affairs, Prime Minister’s Office and the Department of Government Information. […]
Another cash call – DFCC to tap the markets for Rs7.6bn in strikingly low priced rights issue
March 6, 2019 (LBO) – DFCC became the latest major bank in Sri Lanka to tap the capital markets in an aggressive rights issue. The bank aims too raise Rs7.6bn in new equity with the rights issue priced at Rs72/share. Pricing is close to the current trading price in the market of Rs75/share, but much […]