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Listed debenture of HNB oversubscribed
Oct 25, 2016 (LBO) – The listed debenture issue of Hatton National Bank PLC was oversubscribed during the early hours of the opening day, the Colombo Stock Exchange said. The debenture issue of HNB was for 5 billion rupees with a option to go up to 6 billion rupees and was rated A+ (lka) by […]
Sri Lanka spends Rs17mn monthly on Hambantota Conference Hall
Oct 25, 2016 (LBO) – Sri Lanka’s Urban Development Authority is spending 17 million rupees monthly just to maintain Magam Ruhunupura International Conference Hall (MRICH), a senior minister said. Megapolis Minister Champika Ranawaka speaking at a function said they are not getting anything in return as it is not being used. The conference hall was […]
Sri Lanka targets budget deficit of 4.4-pct for 2017: Minister
Oct 26, 2016 (LBO) – Sri Lanka plans on reducing it’s budget deficit to 4.4 percent in 2017 and curbing its total expenditure by around 10 percent, the State Minister of Finance said. “We propose to cut the budget deficit up to 4.4 percent and curb expenditure through reducing the government expenditure and better financial […]
Malaysia’s MINDA & CA Sri Lanka to build high performing directors
In an effort to enhance the effectiveness of directors in the region, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) has joined hands with the Malaysian Directors Academy ‘MINDA’ to offer directors both in Sri Lanka and also in the region unique tailor made courses to help them become high performing directors. […]
World’s oldest working full-rigged ship arrives in Sri Lanka
Oct 26, 2016 (LBO) – The world’s oldest working full-rigged ship with 27 sails, SS Sørlandet from Norway, has arrived in Colombo. The ship is on a two-year circumnavigation of the world, with 70 high school students from A+ Academy. During their stay in Colombo they will greet Sri Lankan maritime students, and the ship […]
Sri Lanka delayed VAT debate in Parliament tomorrow
Oct 25, 2016 (LBO) – Sri Lanka’s much delayed Value Added Tax (VAT) amendment bill under the equitable taxation principle will be debated in parliament, Wednesday, the Finance Ministry said in a statement. “The newly proposed VAT system is very simple and transparent,” Ravi Karunanayake, Minister of Finance said in the statement. VAT was introduced […]
Sri Lanka appoints committee to look at Norochcholai issues
Oct 25, 2016 (LBO) – Sri Lanka’s power regulator, the Public Utilities Commission, has appointed another three member committee to investigate the recent break down of Lakvijaya coal power plant in Norochcholai. The committee will be chaired by Shibly Aziz, former Attorney General and President Counsel and include R I Senaratne, head of the Department […]
Sri Lankan rupee weaker on importer dollar demand; stocks up
Oct 25, 2016 (Reuters) – The Sri Lankan rupee edged down on Tuesday due to importer dollar demand and a lack of exporter sales, but selling of the greenback by a state bank capped further fall in the domestic currency, dealers said. They added the moral suasion by the central bank discouraged trading in the […]
Lamudi: Why invest in real estate in Sri Lanka?
Now is the age of real estate investment in emerging markets. Why? Because development in emerging markets is happening faster than ever before. From unprecedented urbanisation and rapid internet penetration movement to the promise of policy changes, investors are being encouraged on a global scale. Sri Lanka is a prime example of a country whose […]
Sri Lanka – China Business Council elected new President
The Annual General Meeting (AGM) of the Sri Lanka – China Business Council (SLCHBC) of the Ceylon Chamber of Commerce (CCC) was held recently at Hilton Colombo Residences electing Mr. Lasantha Wickremesooriya as the President. The Chief Guest of the event was the Ambassador of the People’s Republic of China, H. E. Yi Xianliang. Addressing […]