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‘s Softlogic Holdings plans Rs7bn equity sale
Jan 25, 2018 (LBO) – Softlogic Holdings PLC has come to an agreement with Samena Ceylon Holdings Ltd., a Mauritius based firm to raise 7 billion rupees from a placement of shares to raise private equity. The board of directors of Softlogic has decided to place 182.22 million shares with Samena Ceylon Holdings Ltd at 17 rupees a […]
‘ government guaranteed bonds at B+
Fitch Ratings has affirmed SriLankan Airlines Limited’s (SLA) US dollar-denominated government guaranteed bonds at ‘B+’. KEY RATING DRIVERS The national carrier’s bonds are rated at the same level as its parent, the Sri Lankan state (B+/Stable), due to the unconditional and irrevocable guarantee provided by the state. The state held 99.5% of SLA at end-2017 […]
Singapore FTA: What it means for Trade and Investment Flows
By Janaka Wijayasiri and Kithmina Hewage The freshly-signed Sri Lankan-Singapore FTA (SLSFTA) marks a new milestone in the relations between the two island economies. The agreement, signed on 23 January 2018, after almost 18 months of negotiations, is a modern, comprehensive, and high quality agreement. It covers a wide range of areas including goods and […]
Cost reflective pricing formula for fuel, electricity this year: CB Governor
Jan 24, 2018 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy says the government will introduce a cost reflective pricing formula for both fuel and electricity this year. The IMF said in its latest report that domestic prices of fuel and electricity are expected to be determined by a formula introduced in March and […]
Sri Lanka assumes Presidency of Conference on Disarmament
Sri Lanka has called on member states of the Conference on Disarmament (CD) to seek to bring back the necessary attention at the highest political levels to the CD, in order to maintain the integrity and credibility of the Conference, as well as to create forward movement and momentum.Sri Lanka’s Permanent Representative to the UN […]
Oscars 2018: The list of nominees in full
Jan 24, 2018 (LBO) – The nominations for the 90th Academy Awards was announced in Los Angeles, Tuesday with “The Shape of Water” leading list. Guillermo del Toro’s fantasy romance (The Shape of Water) received 13 nominations and World War Two drama Dunkirk lays claim for eight nominations. Meanwhile, Rachel Morrison has made Oscar history […]
Sri Lanka to develop policy framework for beauty culture industry
Jan 23, 2018 (LBO) – Sri Lanka seeks to develop a policy framework for beauty culture industry, in order to ensure the expansion, development and further uninhibited expansion and success of the sector.Policy Development Office of the Prime Minister’s Office and the Small-Scale Enterprise Division of the Ministry of National Policy and Economic Affairs is […]
‘ defensive cash flows: Fitch
Jan 23, 2018 (LBO) – Hemas Holdings acquisition of a controlling stake in Sri Lanka’s leading school and office stationery manufacturer, Atlas Axillia (Private) Limited, will bolster Hemas’ defensive operating cash flows, Fitch Ratings said. Last week, Hemas agreed to buy a 75.1 percent stake in Atlas for 5.7 billion rupees. Atlas has a strong distribution […]
World Health Day 2018 to be celebrated in Sri Lanka
Dr. Tedros Adhanom Ghebreyesus, the Director General (DG) of the World Health Organization (WHO) announced today in Geneva during the 142nd Session of the Executive Board of the WHO that the World Health Day 2018 will be celebrated in Sri Lanka. This year’s theme will be the Universal Health Coverage (UHC). The DG congratulating Sri […]
Sri Lanka inflation dips to 7.3-pct in December 2017
Jan 23, 2018 (LBO) – The overall rate of inflation as measured by National Consumer Price Index (NCPI) on year on year basis was down to 7.3 percent in December 2017 when compared with 8.4 percent November 2017, according to the Department of Census and Statistics. Issuing a statement the department said Y on Y inflation of food […]
Restricting sale of liquor to women: public debate is misinformed
Jan 22, 2018 (LBO) – Interdisciplinary think tank, Verité Research says that contrary to popular understanding, Excise Notification No.04/2018 issued by the Finance Minister only prohibits the sale of liquor to women inside a tavern. The research firm highlights that this restriction has no implication on the purchase of liquor almost anywhere else, which is […]
SriLankan records highest ever monthly operating revenue in December
SriLankan Airlines, the national carrier of Sri Lanka and a member of the oneworld alliance, achieved the highest ever monthly revenue in Company history in December 2017. The air-transport operation of the Company recorded a stand-alone revenue of US Dollar 100.1 million – the first instance in the 38-year history of the airline where monthly […]