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Sri Lanka tourist arrivals up 2.2-pct in Jan 2019
Feb 12, 2019 (LBO) – The total number of international tourist arrivals to Sri Lanka during January 2019 was 244,239. In comparison to January 2018, there is a growth of 2.2 percent as the last year January tourist arrivals were 238,924, Sri Lanka Tourism Development Authority stated in a press release. Last month, the largest source […]
Central Bank clarifies issues on sale of ETI Finance Ltd
Feb 12, 2019 (LBO) – Sri Lanka’s Central Bank says it has come to the notice of the Bank that some misinformation is circulating pertaining to ETI Finance Ltd (ETIF) disposing its subsidiaries, sub-subsidiaries and investment properties, and the involvement of CBSL therein. With regard to the said transaction, CBSL wishes to clarify the following: […]
Fuel prices increased but no room to increase transport charges: Finance Ministry
Feb 11, 2019 (LBO) – Government today revised the fuel prices and accordingly the prices of one liter of Petrol Octane 92 and the Auto Diesel have been increased by 6 rupees and 4 rupees respectively.The Finance Ministry said according to the latest international market price of crude oil, the price of diesel should have been […]
Mangala wants to change state media into public service media; committee appointed
Feb 11, 2019 (LBO) – Sri Lanka’s Finance and Media Minister Mangala Samaraweera today appointed a committee to look into the possibility of converting current state media institutions into genuine public service media institutions. The seven-member committee is chaired by the former Director of UNESCO’s International Programme for Communication Development, Wijayananda Jayaweera.Other members include Professor […]
BOI signs deal with Bellevue to build tallest building outside Colombo district
Feb 11, 2019 (LBO) – Sri Lanka’s BOI has signed an agreement with Bellevue Residencies Private Limited to build a mixed development project for a 35-storey Tower and shopping complex.“It will be constructed in Ja-Ela and it is the first time that such a high-rise tower is built outside the city of Colombo,” the BOI […]
Sri Lanka stocks wake up, foreigners active but still net sellers
February 11, 2018 (LBO) – The Sri Lankan stock market has at least for today, awoken from its seemingly endless slumber. The Colombo Stock Exchange (CSE) recorded unusually heavy trading on the day with Rs3.3bn (USmn) worth of trading turnover.Foreigners were unusually active, perhaps as a result of Sri Lanka’s stabilising currency. The Sri Lankan […]
Norwegian Ambassador to Sri Lanka visits Jaffna
Ambassador of Norway to Sri Lanka and Maldives, H.E. Thorbjørn Gaustadsæther visited Jaffna to attend the International Conference on Advanced Materials for Clean Energy and Health Applications (AMCEHA), jointly organized by Western Norway University of Applied Sciences and University of Jaffna. Opening the conference as the Chief Guest, Ambassador Gaustadsæther highlighted the importance of creating […]
Opinion: JKH board is duty bound to evaluate takeover defence/restructuring
February 11, 2019 (LBO) – John Keells Holdings (JKH) and its management seem to be asleep at the wheel.Whether the board of the most important company in Sri Lanka realises it or not, their company and its shareholders are under threat. Sri Lanka’s billion dollar stock market bellwether now has 3 shareholders who own in […]
‘s bonds
February 9, 2019 (LBO) – Foreign institutional bond investors have started to aggressively re-enter Sri Lanka’s government bond market after a rapid exodus in 2018.In the last 3 weeks, foreign investors have invested close to a net of US0mn into Sri Lanka’s bonds.This comes on the back of close to a billion dollar outflow in […]
Sri Lanka official reserves down to USD 6.1 billion by end January: Central Bank
Feb 08, 2019 (LBO) – Sri Lanka’s official reserve assets were 6.14 billion US dollars by the end of January this year, down from 6.92 billion US dollars by December last year, latest Central Bank data showed. By the end of January, the reserve position in the IMF was 67.0 billion dollars, SDRs were 1.25 billion, […]
Foreign selling of JKH continues to plague Colombo bourse
February 8, 2019 (LBO) – The Colombo Stock Exchange (CSE) continued this week to suffer from foreign selling of stocks.For the week ended today, net foreign selling was approximately Rs900mn, this is up from Rs400mn net foreign selling in the previous week. The foreign selling figures do not include significant foreign selling that would have […]
Hemas 3Q profits up 50-pct primarily driven by seasonal demand for Atlas
Feb 08, 2019 (LBO) – Profit attributable to the equity holders of Hemas Group has reported a 50 percent growth primarily due to the strong performance at Atlas, during the third quarter. The quarter recorded a revenue and operating profit of 18.0 billion rupees and 1.9 billion rupees, a YoY growth of 46.8 percent and 92.6 […]