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Asia Tourism Investment Conference in Nov gathers momentum
Oct 17, 2016 (LBO) – The inaugural Asia Hotel and Tourism Investment Conference in November in Colombo will be an influential gathering for the region focusing on challenges and opportunities in the hotel and tourism industries, the organizers said. Hot topics are likely to include land ownership, impediments to raising finance and shortage of talent. […]
New opportunities for Sri Lankan companies in India
Oct 17, 2016 (LBO) – There are new opportunities for Sri Lankan companies in India, with several internal changes going on in the country, an official of a visiting Indian business delegation said. “Within India, there are so many economic changes that could be advantageous for Sri Lanka. What is important is that this is […]
Saaraketha wins gold at NCE Export Awards 2016
Sri Lanka’s biggest retailer and exporter of fresh, certified organic food, Saaraketha Holdings was recently awarded “gold” under the “Other Agricultural Products” sub-sector of the NCE Awards 2016. Organized by the National Chamber of Exporters of Sri Lanka, the awards ceremony was held on 30th September at Colombo Hilton under the patronage of Eran Wickramaratne […]
Monetary Board considers interim report on Primary Dealers
Oct 14, 2016 (LBO) – The Monetary Board, at a special meeting on Friday, considered an interim report on the operations of primary dealers, including their financial performance during last year and the current year. “It noted with concern the sharp disparity in the performance of primary dealers, as well as certain issues related to […]
CSE opens new branch in Ambalantota
The Ambalantota branch of the Colombo Stock Exchange (CSE) was officially opened to the public by CSE Chairman Vajira Kulatilaka today. The branch located at No. 52, Hambantota Road, Ambalantota improves the CSE’s branch coverage and adds to branches in Matara, Kandy, Kurunegala, Negombo, Jaffna, Anuradhapura and Ratnapura. Initiatives driven through the CSE branch network […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Oct 14, 2016 (LBO) – Sri Lanka’s Commercial Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated, unsecured, subordinated, redeemable debentures worth 5.0 billion rupees with an option to go up to 7.0 billion rupees. The proposed […]
Sri Lankan rupee steady; importer dollar demand offsets exporter sales
Oct 14, 2016 (Reuters) – The Sri Lankan rupee traded steady on Friday for a second straight session as dollar demand from importers offset exporter sales of the U.S. currency in the absence of central bank intervention, dealers said. The spot rupee was steady at 146.90/95 per dollar at 0546 GMT. Rupee forwards were not […]
PTL Watch: Bond yields tick higher for second week
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Sri Lanka to draft new counter terrorism law: Cabinet
Oct 14, 2016 (LBO) – Sri Lanka has appointed a committee to draft a new counter terrorism law, a statement on cabinet decisions said. “A committee chaired by the Minister of Law and Order and Southern Development has been appointed to draft a new counter terrorism law instead of the existing Prevention of Terrorism Act, […]
Sri Lanka Customs says information on fraud will be rewarded
Oct 14, 2016 (LBO) – Sri Lanka’s Customs says information regarding customs fraud will be rewarded, without giving details of the extent of the reward. All those who have information can contact the CIU on +94112471471, the department said on its website. Sri Lanka is currently exploring a draft policy to protect ‘whistleblowers’ to strengthen […]