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USAID to support Sri Lankan Parliament to strengthen democratic governance
Nov 24, 2016 (LBO) – The United States Agency for International Development (USAID) launched a 1.92 billion rupee (USD13 million) partnership with the Parliament of Sri Lanka to strengthen accountability and democratic governance in Sri Lanka. “This project broadens our support to the independent commissions, ministries, and provincial and local levels of government,” Andrew Sisson, […]
Dollar firms after upbeat U.S. data raises rate hike expectations
TOKYO, Nov 24 (Reuters) – The dollar firmed in Asian trading on Thursday after news of a pickup in U.S. economic growth early in the fourth quarter increased the chances of the Federal Reserve tightening monetary policy. The dollar index, which tracks the greenback against a basket of six major peers, rose 0.1 percent to […]
Lion Brewery (Ceylon) resumes Biyagama factory operations
Boards of Lion Brewery (Ceylon) and Ceylon Beverage Holdings today said that the Lion Brewery (Ceylon) PLC’s factory situated at Biyagama which was affected by recent floods has now recommenced its production and its full portfolio of brands will be available in the market shortly.
CSE to conduct planned failover to Disaster Recovery site during trading
The Colombo Stock Exchange (CSE) will be conducting a planned failover to the Disaster Recovery site during trading hours using Version 7 of the Automated Trading System (ATS) Disaster Recovery Solution on Friday 25th November 2016. The exercise will be an industry‐wide activity as part of the Business Continuity Plan (BCP) of the CSE with […]
Sri Lanka’s government seeks public views to regulate news
Nov 23, 2016 (LBO) – Sri Lanka’s cabinet nod has been received to obtain public opinion with regard to establishing an independent board to regulate news content published in media. As per the proposal, an independent board is to regulate news published in print, broadcasting and registered websites with the view of promoting professionalism and […]
Western Province interconnected roads to be upgraded
Nov 23, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to improve 26 damaged interconnected roads in the Western Province. The project will cover a total length of 30 km in Colombo, Moratuwa, Mahara and Avissawella areas by laying carpet at an estimated cost of 208.5 million rupees through the Provincial Road Development […]
‘s SEC to adopt new capital adequacy from March
Nov 23, 2016 (LBO) – Sri Lanka’s Securities and Exchange Commission on the recommendation of the CSE has directed the implementation of a new risk-based Capital Adequacy Requirement (CAR). The commission said the new requirement will be 1.2 times the risk requirement of stockbrokers subject to a minimum liquid capital requirement of 35 million rupees. […]
Sri Lankan rupee edges down on importer dollar demand; stocks up
Nov 23, 2016 (Reuters) – The Sri Lankan rupee fell slightly on Wednesday due to dollar demand from importers on fears that U.S. President-elect Donald Trump’s policies would lead to a rise in rates and the greenback. Foreign investors might pull out of emerging markets, including Sri Lanka, if the Fed raises interest rates next […]
Exporters say suspension of SVAT disincentive to exports
The EASL, whilst understanding the current state of the economy, find this budget is more of a corrective nature. It does not address the need to progress the export industry. Aspect such as improving standards of education, encouraging the growth of competitiveness of SMEs, aiming to attract FDIs and setting up a system under PPP […]
Sri Lanka’s Dialog Axiata forms subsidiary for BPO services
Nov 23, 2016 (LBO) – Sri Lanka’s Dialog Axiata has formed a wholly owned subsidiary for the purpose of providing Business Process Outsourcing (BPO) services including Call Centre services. Dialog Axiata said in a stock exchange filing that the new company has been formed under the name of Dialog Business Services (Private) Limited (DBS) on […]