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GSP Plus could add USD350 mln in export revenue, improve FDI: Min
July 03, 2017 (LBO) – GSP plus eligibility could add 350 million dollars in export revenue to Sri Lanka, while increasing potential for FDI, the minister for industry and commerce said. “The enhanced market access that Sri Lanka gets from EU GSP+ is very significant,” said Minister Rishad Bathiudeen. “In fact, according to the Department […]
Sri Lanka licensed banks to adopt minimum capital standards from July
Commencing 01 July 2017, licensed banks in Sri Lanka will adopt minimum capital standards based on the Direction issued by the Central Bank of Sri Lanka in late 2016. This Direction is in line with the Basel III guidelines issued by the Bank for International Settlements (BIS) related to capital, leverage and liquidity in order […]
Sri Lanka film festival in Seoul, South Korea
A Sri Lanka Film Festival was held in Seoul, Korea from 23rd June to 25th June, 2017 at CGV Myungdong Station Cine Library. Five contemporary internationally acclaimed Sri Lanka films were screened at the festival, which was well received by Korean movie lovers. The Film Festival was organized by the Sri Lanka Embassy in the […]
Sri Lanka’s first Marine Finfish Hatchery established in Batticaloa
Sri Lanka’s first Multi-Species Marine Finfish Hatchery was inaugurated in Tharmapuram, Batticaloa to facilitate the development of marine finfish farming, and produce sufficient amounts of marine fish to meet the demands of the national and international markets. The hatchery was ceremonially declared open by Minister of Fisheries and Aquatic Resources Development Hon. Mahinda Amaraweera. The […]
JICA to provide Doppler Weather Radar Network to Sri Lanka
June 30, 2017 (LBO) – Japan International Cooperation Agency (JICA) has signed a grant agreement with Sri Lanka to establish a Doppler Weather Radar Network in the country. The agreement was signed between Treasury Secretary R.H. Samaratunga and Chief Representative of JICA Sri Lanka Office Fusato Tanaka on Friday with a view to provide the […]
Sri Lanka’s Watawala Plantations to separate tea business
June 30, 2017 (LBO) – Sri Lanka’s Watawala Plantations is planning to set up a separate company relating to the tea business segment of the company by segregating its operational assets and liabilities. The firm said in a stock exchange filing that the said assets and liabilities will be vested in the new limited company […]
Sampath Bank to raise Rs6bn in listed debt; Deshal resigns
June 30, 2017 (LBO) – Sri Lanka’s Sampath Bank plans to raise as much as 6 billion rupees from a sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in a stock exchange filing that they wanted to sell 40 million listed unsecured subordinated convertible debentures at 100 rupees […]
LOLC Finance takes top honours at LankaPay Technnovation Awards
Sri Lanka’s Non-Banking Financial Institution (NBFI) giant, LOLC Finance PLC bagged three top awards at the LankaPay Technnovation Awards 2017 held recently for the very first time competing against prestigious Banks and NBFIs to gain these top positions. At the glittering awards ceremony, LOLC Finance was bestowed with the following coveted titles: 1) Financial Institution […]
Sri Lanka CCC appoints Rajendra Theagarajah as new chairman
June 30, 2017 (LBO) – The Ceylon Chamber of Commerce appointed Rajendra Theagarajah as its new Chairman during its 178th AGM held in Colombo, Thursday. Theagarajah, a veteran banker, succeeds the outgoing Chairman Samantha Ranatunga, who led the Chamber during the past two years. He functioned as the Vice Chairman, Deputy Vice Chairman, Board Member […]
PUCSL asks power utility to develop 12 new generation scenarios
June 30, 2017 (LBO) – Sri Lanka’s Public Utilities Commission of Sri Lanka (PUCSL) has asked the Ceylon Electricity Board (CEB) to submit 12 scenarios which will provide different power plant combinations by 7th of July 2017. Issuing a statement the PUCSL said these scenarios should be developed with updated prices for coal, natural gas […]
Reforms in Sri Lanka urgent but need to limit cost to the poor: WB
June 30, 2017 (LBO) – Sri Lankan government led reforms to improve competitiveness, maintain macro-fiscal stability and strengthen institutions, with broad support in the country, are key to robust economic growth, job creation and poverty reduction, a new World Bank report said. The Sri Lanka Development Update launched Thursday said that the economy and its […]
PTL Watch: Bond yields ease, buying in longer tenors
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/06/PTL-Daily-Market-Report-29th-June-2017.pdf” title=”PTL Daily Market Report 29th June 2017″]