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Muhunthan Canagey appointed CEO/MD of ICTA for second term
The Information and Communication Technology Agency (ICTA) of Sri Lanka has appointed Muhunthan Canagey as CEO & Managing Director for a second term . Canagey was first appointed to the board of ICTA with the change of government in February 2015 as the Managing Director and Chief Executive Officer to head the Agency. He was […]
COPE should inquire transactions of Templeton fund in Sri Lanka: Harsha
Mar 09, 2017 (LBO) – Sri Lanka’s Committee On Public Enterprises (COPE) should investigate the transactions carried out between the US-based Franklin Templeton Fund and Central Bank in the past, Deputy Foreign Minister Harsha de Silva said. De Silva confirmed to reporters Wednesday that close to 500 million US dollars have been taken out from […]
Dutch elections next week to have implications for EU
Mar 09, 2017 (LBO) – The Dutch will vote in a general election next week that will focus the world’s attention on trends in populism and the future of the European Union. The election on March 15 is a dead heat between Geert Wilders, leader of the populist Party of Freedom (PVV), and Prime Minister […]
Indonesia, Sri Lanka to strengthen trade and economic ties
Mar 09, 2017 (LBO) Sri lanka’s President Maithripala Sirisena, who is on a state visit to Indonesia, met with President Joko Widodo Wednesday with a proposal for a free trade agreement between the two countries among the topics discussed. The meeting between the two leaders commenced following a cordial discussion, a statement from the Sri […]
Nimal Perera resigns as director from several companies
Mar 08, 2017 (LBO) – High net worth investor Nimal Perera has resigned as a director of several companies, as per disclosures to the Colombo Stock Exchange. Wickramaratne told reporters Wednesday that discussions with regard to the subject of airlines is a complex matter to be deal with. generic “There were eight bidders initially then […]
PTL Watch: Sri Lanka T-bill yields higher at auction
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2017/03/PTL-Daily-Market-Report-08th-March-2017-1.pdf” title=”PTL Daily Market Report 08th March 2017 (1)”]
Chinese delegation inspects Hambantota port, airport during fact finding mission
The Board of Investment of Sri Lanka recently hosted a delegation consisting of senior officials from Chinese People’s Political consultative Conference of Shanghai (CPPCC). The delegation consisted of 6 senior officials of the communist party of China (Shanghai chapter) and was led by Mr. Xu Yibo, Vice Chairman of the CPPCC Shanghai Committee. The delegation […]
S&” rating on Sri Lanka
Mar 08, 2017 (LBO) – Standard and Poor global ratings affirmed its ‘B+’ long-term and ‘B’ short-term sovereign credit ratings on Sri Lanka while keeping a ‘negative’ outlook unchanged, a statement said. “High external debt, and low reserves continue to make Sri Lanka vulnerable to external shocks. Other rating constraints on Sri Lanka include the […]
MAS joins hands with UNFPA to ensure gender-mainstreamed corporate policies
(PRESS RELEASE) – Colombo, 7 March 2017: Sri Lanka’s female labour force participation is declining. In 2006, females constituted 39. 5% of the working force, where as in 2014, this number has come down to 36.3%. In response to this socio-economic issue, it is imperative that organizations continuously review corporate policies to instill an organizational […]
New Zealand keen to broaden investment in Sri Lanka
Mar 08, 2017 (LBO) – The Government of New Zealand expects to broaden existing investment in Sri Lanka and is ready to assist in economic development activities in the island, the finance ministry said in a statement. New Zealand wants to provide technical support in infrastructure development and assist in developing the agricultural sector of […]
Pan Asia Bank completes Rs 2Bn rights issue
Mar 08, 2017 (LBO)- Sri Lanka’s Pan Asia Banking Corporation said they were successful in completing a rights issue to raise up to 2.06 billion rupees. In December 2016 the bank announced the issue of 147. 5 million shares at one new share for every two shares held at an issue price of 14 rupees. […]
Sri Lanka BPPL Holdings IPO oversubscribed
Mar 08, 2017 (LBO) – Sri Lanka’s brush exporter BPPL Holdings said its initial public offer of 30. 68 million ordinary shares at 12 rupees each was oversubscribed the opening day. The company said in a stock exchange filling that therefore they were closing the offer, Tuesday. The company also known as Beira group said Hirdramani […]