Category:
Sri Lankan real estate sector sees office demand spike: OBG
Nov 18, 2016 (LBO) – The office segment of Sri Lanka’s property market is likely to see rising levels of activity over the next few years, as developers scramble to bridge a shortage of premium space, the Oxford Business Group said. There is an expanding gap between available space and demand in Colombo, according to […]
MTD Walkers gross profit margin up 7-pct in second quarter
Integrated infrastructure and engineering solutions provider MTD Walkers PLC has posted a revenue of LKR 3.6 billion for the second quarter of 2016/17. The Group has managed to increase its gross profit margin to 27% up from 20% in the second quarter last year in what continues to be a tough year for the construction […]
LBR LBO DEBRIEF to focus on unfolding economic and geo-political landscape
Nov 18, 2016 (LBO) – The fourth edition of the “Economic and Business Climate Outlook 2017” will offer an overview of emerging Asia and the Sri Lankan economy, and the views of business leaders on navigating their businesses in 2017 amidst growing economic and geo-political volatility. Lanka Business Online, LBO, will be hosting the annual […]
Dollar soars on U.S. yield gains,Asian shares wobbly
TOKYO, Nov 18 (Reuters) – The dollar vaulted to 13 1/2-year highs against a basket of major currencies as U.S. bond yields rose, leaving Asian stocks vulnerable to potential rotation out of emerging markets to the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent in early trade to hover […]
SEC eases minimum public float rule; 6-month grace period to comply
Nov 17, 2016 (LBO) – Sri Lanka’s securities regulator has decided to revise the minimum public float requirements to provide listed public companies with a wider range of options to comply with the rules without compromising the objective of the rule. A grace period of 6 months extending up to 30 June 2017 will be […]
CA Sri Lanka to implement new Audit Report from March 2018
Nov 17, 2016 (LBO) – Institute of Chartered Accountants of Sri Lanka is to implement the new Audit Report from March 2018, in keeping with its continuing efforts to ensure the country is in line with international standards. The new Audit Report by the International Auditing and Assurance Standards Board (IAASB) of International Federation of […]
Australia, UK High Commissions open new Visa Application Centre in Colombo
The High Commissioners of Australia and the UK to Sri Lanka formally inaugurated VFS Global’s new Visa Application Centre (VAC) today. The new VAC is located in Arnold Ratnayake Mawatha and offers customers a larger application centre and more appointments slots. This will make the process of applying for UK and Australian visas quicker and […]
JICA to lend Yen23Bn for water supply project
Nov 17, 2016 (LBO) – The Japan International Cooperation Agency (JICA) signed a loan agreement with the Government to provide a Japanese loan of 23 billion Yen as assistance for the Anuradhapura North Water Supply Project. This project will construct a water supply system in the northern part of Anuradhapura District to provide safe drinking […]
Sri Lanka budget signals continuity, but implementation key: CCC
Nov 17, 2016 (LBO) – Sri Lanka’s budget 2017 has signaled continuity in the economic policy priorities of the government, but successful implementation should be the benchmark against which it is measured, the island’s leading business chamber said. “Budget 2017 seeks to continue the government’s focus on modernizing the economy, inclusive growth, strengthening the middle class, […]
Verité identifies weakness in Sri Lanka’s public procurement
Nov 17, 2016 (LBO) – Verité Research, a private think tank, has identified three key weaknesses in public procurement in Sri Lanka. The study by the regional think tank has focused on the problems of public procurement, best practices of e-procurement followed in other countries, and the benefits for local businesses and the government. As […]