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Recent rupee depreciation aligned with capital outflows not current account
Jan 08, 2019 (LBO) – Sri Lanka’s Central Bank Governor says that the rupee depreciation is no longer aligned with fundamentals in terms of current account flows and it is now being driven by capital outflows from the government securities market.Governor Indrajit Coomaraswamy recently revealed that foreigners who held about two billion US dollars worth […]
‘s Biz Chamber to host 2019 Outlook Seminar
Jan 07, 2019 (LBO) – The Ceylon Chamber of Commerce will organize its annual outlook seminar for 2019 under the theme of ‘Building Resilience Amidst Uncertainty’. The seminar serves as an important opportunity to understand both the outlook for the economy and key sectors in 2019. Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri […]
Sampath Bank and Micro Cars launch 3 month leasing promotion
Sampath Bank PLC joined hands with Micro Cars Ltd. to offer special leasing packages on brand new Micro, Geely, BAIC, SsangYong and MG passenger vehicles from 13th December 2018 to 13th March 2019. Customers can avail a host of benefits including special discounted leasing rates on selected models. Furthermore, they will also be eligible to […]
Sri Lanka Budget 2019: Targets public revenue to increase 17-pct, Debt to GDP down to 70-pct
Jan 07, 2019 (LBO) – Sri Lanka’s Finance Ministry says Budget 2019 will increase public revenue to 17 percent of Gross Domestic Product (GDP) while capital expenditure will be limited to 3.5 percent of GDP. It will also target maintaining the debt-to-GDP ratio to just 70 percent with recurrent expenditure cut down to 15 percent […]
Hayleys Advantis partners with Trustworthy.Ae Group to manage Abu Dhabi container facility
Jan 07, 2019 (LBO) – Hayleys Advantis , the transportation and logistics arm of Hayleys PLC, announced that it has entered into a deal with Dubai-based Trustworthy.ae Group. “Advantis is to operate and manage a state of the art Inland Container Depot (ICD) and third-party Container Freight Station (CFS) being developed by Trustworthy.ae Group in the […]
Financial sector regulators sign MoU for consolidated risk-based supervision
Jan 04, 2019 (LBO) – The Central Bank of Sri Lanka (CBSL) entered into a Memorandum of Understanding (MoU) with the Securities and Exchange Commission of Sri Lanka (SEC) and the Insurance Regulatory Commission of Sri Lanka (IRCSL) on 31 December 2018 at CBSL, to conduct effective consolidated risk-based supervision and for CBSL to be the […]
Perpetual Treasuries suspension of business activities extended by 6 months
Jan 04, 2019 (LBO) – Monetary Board of the Central Bank has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business activities of a Primary Dealer for a period of six months with effect from tomorrow.The Central Bank said the extension was carried out in terms of the Regulations made […]
‘s Basel III sub debt BBB+(lka)(EXP)
Jan 04, 2019 (LBO) – Fitch Ratings has assigned Seylan Bank’s proposed Basel III compliant subordinated debentures an expected National Long-Term Rating of ‘BBB+(lka)(EXP)’. The notes, which will total 5 billion rupees and mature in five years, include a non-viability clause and will qualify as regulatory Tier II capital for the bank. Seylan plans to […]
LRT project to kick start in 2019 : Cabinet nod for Japanese aid of USD1850Mn
Jan 04, 2019 (LBO) – Sri Lanka’s Finance Ministry says that cabinet approval has been received to go ahead with US 1850 million dollar loan agreement with the Japan International Cooperation Agency (JICA) to commence initial work on the islands much anticipated LRT project. The ministry said that the loan, will be disbursed in six stages and […]
FineTech Consultancy appointed as Google Premier Partner for Sri Lanka
Jan 04, 2019 (LBO) – Google’s largest local partner in Sri Lanka since 2010, FineTech Consultancy has been appointed as the only Google Premier Partner for Sri Lanka, Maldives and Bangladesh. The company said in a statement that the appointment comes in the wake of Google’s recognition of FineTech’s contribution to Google customers in all […]
LankaPropertyWeb.com Acquires Lamudi.lk
Jan 04, 2019 (LBO) – Sri Lanka’s leading property portal LankaPropertyWeb has announced the acquisition of the country’s no.2 property portal lamudi.lk. The acquisition includes the lamudi.lk domain and all its listings, plus the local operations of Lamudi Sri Lanka. With this acquisition, LankaPropertyWeb aims to expand its reach and property portfolio to provide an improved […]
MBSL announces changes in MIDCAP with year-end index rebalance
In a pioneering move, Merchant Bank of Sri Lanka & Finance PLC (MBSL) constructed a Stock market Index: the “MBSL MIDCAP Index”, which measures the aggregate price level and price movements of medium-sized companies listed on the Colombo Stock Exchange (CSE). The index which came into operation in the Year 1999 is revised annually and […]