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Sri Lanka’s unabated credit growth in real estate sector raises concerns: IMF
June 21, 2018 (LBO) – Sri Lanka’s significant credit growth for more than two consecutive years warrants attention, an International Monetary Fund (IMF) staff report released yesterday said. While a portion of this credit growth can be associated with financial deepening, loan concentration, notably in the real estate sector, raises concerns, the report added. The […]
Sri Lanka to develop internal air transport : 5 firms come forward
Jun 21, 2018 (LBO) – Sri Lanka’s government and cabinet of ministers has given the go ahead to carry out an overhaul in the domestic aviation industry and develop it. “Currently, no clear policy governing civil aviation exists, hindering development due to lack of conformity with international standards,” a cabinet statement said. To address the issues, […]
Opinion: Stock Brokerages in Sri Lanka should publish audited accounts on the CSE website
June 21, 2018 (LBO) – Choosing a stock broker in Sri Lanka can be a confusing process.There are 15 member firms and 12 trading member firms listed on the Colombo Stock Exchange (CSE) website. There is nothing else on the website that can help a potential client evaluate which is the best firm to transact […]
CM Port pays final tranche of USD584Mn for Hambantota Port
Jun 20, 2018 (LBO) – Sri Lanka’s government has received the final tranche of investment value for Hambantota Port concession from China Merchant Port Holdings Limited (CM Port), Wednesday. “This third and final tranche of US 584,194,800 dollars follows the 1st, a 2nd tranches released in December last year and January 2018,” the Sri Lanka […]
Battle of the 70 year olds as Gotabaya turns 69, three months after Ranil
June 20, 2018 (LBO) – Today, former Defence Secretary Gotabaya Rajapaksa turned 69 years of age, roughly 3 months after Prime Minister Ranil Wickremesinghe turned 69 on March 24th.The presidential hopefuls are on a collision course with each other at the next Presidential Election due before January 8, 2020.When both candidates formally go head to […]
Hat Trick as Colombo stocks hit 2018 lows for 3rd straight session
June 20, 2018 (LBO) – Colombo stocks continued their decline hitting the 3rd consecutive day of new lows for 2018. The ASPI was down was down .76%, and the S&P SL 20 was down 1.23% on the day. The indices are down 2.4% and 6.6% on the year respectively. Turnover was an anaemic Rs341mn (US$2.1mn) […]
Hotel show Colombo 2018: Celebrating its 20th edition
The 20th edition of the Hotel Show Colombo 2018 – organized by the Ceylon Hotel School Graduates Association (CHSGA) together with event partner CDC Events, returns from 20th – 22nd July 2018 to the BMICH. It will be supported by both the Government and private sector related establishments. For the first time in Sri Lanka, […]
Sri Lanka Fin Min calls on professionals to step up and pay their taxes
Jun 20, 2018 (LBO) – Sri Lanka’s Finance Minister Mangala Samaraweera called on professionals like doctors, lawyers, tuition masters, architects and others to come forward and pay their taxes. “Our doctors, lawyers, tuition masters, architects have been funded by taxpayers money through free education,” the Minister said in Colombo Tuesday. “It is only fair that they […]
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 […]