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United States steps out from United Nations Human Rights Council
June 20, 2018 (LBO) – The United States on Tuesday stepped out from the United Nations body that protects human rights around the world, saying the council, in fact, damages the cause of human rights. Nikki Haley, U.S. Permanent Representative to the UN, delivering remarks on the issue, blamed other countries for not having the […]
‘s charges : Fin Min
Jun 20, 2018 (LBO) – Sri Lanka’s cabinet has decided to remove the value added tax from a range of medical charges in private hospitals in a bid to reduce the health care cost of the people, the Finance Minister said. “VAT on the out patient department (OPD) charges, doctors consultation fees, channeling fees and surgeries […]
NDB Bank to raise Rs6.2bn in discounted rights issue
June 19, 2018 (LBO) – Colombo Stock Exchange (CSE) listed National Development Bank (NDB) announced a one for three rights issue to raise approximately Rs6.2bn. The purpose of the rights issue as stated in the CSE announcement is to: “further strengthen the equity base of the bank and thereby improve capital adequacy, and to part […]
Colombo Stock Exchange decides to delist Kalpitiya Beach Resort
June 19, 2018 (LBO) – Board of Directors of the Colombo Stock Exchange has decided to delist the securities of Kalpitiya Beach Resort subject to the approval of the Securities and Exchange Commission.In an announcement, Colombo Stock Exchange said the decision to delist the company is based on the following reasons.1. The shareholders of the […]
Another 2018 record low for Sri Lanka stocks
June 19, 2018 (LBO) – The Colombo Stock Exchange continued its slow bleed lower today hitting record lows for the second consecutive day in 2018. The All Share Price Index (ASPI), the market cap weighted index of all listed stocks, closed down .71% to 6265. The S&P Sri Lanka 20 index dropped 1.15% to 3473. […]
Sri Lanka to introduce new type of petrol for Motorcycles, Three Wheelers
June 19, 2018 (LBO) – Sri Lanka’s Petroleum Ministry is looking at introducing a new type of petrol for Motorcycles and Three Wheelers giving the consumers an economic relief. Petroleum Minister Arjuna Ranatunga says the required tests to introduce this new type of petrol are now being conducted successfully. “We were compelled to increase fuel […]
Milinda Ratnayake appointed Vice Chairman of Airport Authority
Veteran aviator, Capt. Milinda Ratnayake has been appointed as the Vice Chairman of the Airport Authority. Clocking over 15,000 hours of flying passenger aircraft he has witnessed the operations of Air Ceylon, Air Lanka and Sri Lankan Airlines for over 40 years. Besides his flying career, he also possesses a wealth of managerial experience overlooking […]
Avian Technologies receives Dell EMC Gold Partner status
One of the leading IT solutions providers in Sri Lanka, Avian Technologies announced that the Company has received the Dell EMC Gold Partner’ status, awarded to companies that record commendable achievements in terms of revenue generation and attaining certification. The EMC Gold Partner status enables Avian Technologies to reinforce the confidence that customers have already […]
LankaPropertyWeb.com eases the hassle of buying and selling property
Today’s busy lifestyle hastaken away the luxury of time to attend to all that entails a property transaction. This includes countless amounts of paperwork, finding lawyers and valuers, spending a day at government institutions to pay stamp duties,and consultbanksto fill in forms to applyfor a housing loan. LankaPropertyWeb’snew Buyer and Seller Assistance portal removes this […]
Foreign investors exit Sri Lanka government bonds in 2018
June 19, 2018 (LBO) – Foreign investors have been dumping Sri Lanka government bonds in 2018, after being big net buyers in 2017.Year to date, foreign investors have been net sellers of Rs22.5bn (US$140mn) of Sri Lanka government bonds. This is a reversal from 2017, where foreign investors were net buyers of Rs64.2bn (US0mn) worth […]
Sri Lanka GDP grows by 3.2-pct in Q1 2018
Jun 19, 2018 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) grew 3.2 percent in the first quarter of 2018 with positive growth recorded in the agriculture sub sector, official data from the Census and Statistics showed. The GDP at constant (2010) prices for the first quarter of 2018 recorded as 2, 223,856 million rupees, and GDP reported […]
Sri Lanka stocks close at record lows for 2018
June 18, 2018 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) continued its slow bleed lower with key indices closing at the lows for 2018. The All Share Price Index (ASPI), the market cap weighted measure of all listed stocks, closed down .33% to 6310. This broad price index now sits down close to 1% […]