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Asia flat following a weaker Wall Street as Treasury yields hit 16-mth high
lbo.lk,lboSINGAPORE, Dec 2 (Reuters) – Asian shares were flat in early trade on Friday following mostly sluggish sessions on Wall Street and Europe, as 10-year U.S. Treasury yields surged to near 18-month highs and crude futures soared to 16-month highs. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed, but remained on […]
LOLC Group inks deal with Club Mediterranee for Sri Lanka’s first Club Med Resort
The LOLC Group and Club Mediterranee – France, signed a historic agreement on 25th November 2016 which will witness the Riverina Resort in Beruwela being branded as the First Club Med Resort in Sri Lanka. The landmark agreement was signed between LOLC Group Managing Director/CEO, Mr. Kapila Jayawardena and Mr. Henri Giscard d’Estaing, President and […]
Sri Lanka’s CCPI inflation down to 3.4 pct in Nov
Nov 30, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo accelerated 3.4 percent in November 2016 from a year earlier, but down from 4.2 percent in October, the state statistics office data showed. Year-on-year inflation of the “Food Group” decreased from 6.0 percent in October to 2.9 percent in November, while that of […]
New legal framework for solar in Sri Lanka, no more licences
Nov 30, 2016 (LBO) – Sri Lanka’s power regulator, Public Utilities Commission of Sri Lanka (PUCSL), has decided to remove the legal barriers for consumers who wish to enter into electricity generation based on solar power. “It has been proposed to exempt the electricity consumers, who generate electricity in small scale through rooftop solar power […]
Sri Lanka to improve essential utility services in Western Megapolis
Nov 30, 2016 (LBO) – Sri Lanka’s cabinet has granted approval to improve new utilities and infrastructure required for the Western region Megapolis. It is expected that there will be an increased demand for essential utility services such as transport, electricity, water, drainage and waste disposal with the implementation of the main plan of the […]
Sri Lankan rupee edges up on exporter dollar sales; stx up
Nov 30, 2016 (Reuters) – The Sri Lankan rupee was trading slightly higher on Wednesday, as exporter dollar sales surpassed importer demand for the greenback after the central bank said it was in advance talks with China Development Bank for a $200 million swap. However, dealers expect the rupee to be under pressure till seasonal […]
Seylan secures a USD 15 mln term facility from UAE
Nov 30, 2016 (LBO) – Seylan Bank has successfully raised a 5-year 15 million US dollar facility from the National Bank of Ras Al Khaimah (RAKBANK) of the United Arab Emirates, the bank said in a statement. Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole […]
Challenging external environment for Sri Lanka in 2017: WB economist
Nov 30, 2016 (LBO) – Sri Lanka will face a challenging external macroeconomic environment ahead and structural reforms needs to be consistent with improved competitiveness, an economist said. Senior Country Economist at World Bank, Sri Lanka, Ralph van Doorn, speaking at the LBR LBO Debrief: Economic & Business Climate Outlook 2017, said major existing export […]
‘s Budget 2017 under the President
How much of the Budget 2017 is under President Sirisena? – Info-graphics by Manthri.lk
Sri Lanka tourist earnings up, slower growth in workers’ remittances
Nov 30, 2016 (LBO) – Sri Lanka’s earnings from tourism increased while slower growth was seen in workers’ remittances in October 2016, the Central Bank said. In the the first ten months of 2016 tourism earnings rose to 2,749.4 million dollars compared to 2,400.1 million in the same period of 2015, the Central Banks review […]
Licencing , regulation and supervision of companies carrying on Micro finance Business
(PRESS RELEASE) – The Microfinance Act, No. 6 of 2016 was enacted with the objective of providing a regulatory framework to cover microfinance institutions that are not regulated at present. The purpose of the Act is to improve the delivery of financial services to low income persons and micro enterprises, increase financial inclusion, strengthen the […]
Vote on Facebook for your favourite feature on Emirates Economy Class
(PRESS RELEASE) – Even among seasoned travellers, air travel invariably generates a conversation and now Emirates is engaging in one with its customers and fans in Sri Lanka via social media. The global connector of people, places and experiences has invited its Facebook fans in Sri Lanka to vote for one of three features that distinguish […]