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LankaPay says USD Online crosses Rs. 1.8bn mark
Sep 14, 2016 (LBO) – Payment network LankaPay says they will continue to expand services towards better financial inclusivity and is keen on expanding their core product offering. “Customers can expect more along these lines of innovations in the near future,” Channa de Silva, LankaClear chief executive officer and general manager said. “In addition to […]
Sri Lanka budget deficit to be 4.7-pct in 2017, FinMin tells IMF
Sep 14, 2016 (LBO) – Sri Lanka’s Finance Minister said that the island plans on reducing the budget deficit to 4.7 percent in 2017. “We had a budget deficit of 6.7 percent of the GDP last year and this year’s target will be 5.4 percent. it will be further reduced to 4.7 percent in 2017,” […]
CA Sri Lanka evaluates pros & cons of ETCA for Chartered Accountants
In its capacity as the national body of accountants, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), recently engaged its stakeholders by conducting a forum exclusively for the benefit of its members focusing on the Economic and Technology Co-Operation Agreement (ETCA) between India and Sri Lanka. The forum was organised in an […]
Sri Lanka to stop Sampur coal power plant, SC informed
Sep 14, 2016 (LBO) – Sri Lanka’s Supreme Court (SC) was informed that the proposed 500 megawatt Sampur coal power plant will not be constructed following a Fundamental Rights application filed by Environmental Foundation (Guarantee) Limited. The Attorney General informed court that the Ministry of Power and Energy had already taken this decision. The Sampur […]
Sri Lanka electricity use safer with new square pin plugs: PUCSL
Sep 13, 2016 (LBO) – Sri Lanka’s power regulator announced the implementation of national standard for plug and socket outlet in Sri Lanka for non-industrial applications with the aim of uplifting the safety of electricity consumers. Public Utilities Commission of Sri Lanka (PUCSL) said that currently different types of plugs and sockets are used to […]
Logistics Int. expands container terminal operations with new depot facility
Logistics International, the inland container depot of Hayleys Advantis, commissioneda purpose built 3,500TEU inland container depot spread across 5.5 acres in Sedawatte, Colombo, recently. With a 6 acre, 3,000 TEU depot already in operation in Welisara, this move more than doubles the company’s overall container handling capacity. “We are excited to dedicate the Sedawatte Container […]
PTL Watch: Yields edge higher on local selling
[pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/09/PTL-Daily-Market-Report-13th-September-2016.pdf” title=”ptl-daily-market-report-13th-september-2016″]
Sri Lankan rupee trades weaker on importer dollar demand; stocks rise
Sept 13, 2016 (Reuters) – The Sri Lankan rupee edged down on Tuesday as importer dollar demand surpassed mild selling of the U.S. currency by exporters, dealers said. The spot rupee was trading at 145.40/50 per dollar, down from Friday’s close of 145.25/35 as of 0700 GMT. One-week forwards were at 145.55/65, compared with the […]
Sri Lanka’s cabinet approves VAT increase: State Finance Minister
Sept 13, 2016 (LBO) – Sri Lanka’s Cabinet has approved the VAT increase in principle as required by the Supreme Court judgment, State Finance Minister Lakshman Yapa Abeywardena said. The Supreme Court issued an interim order in July preventing the government from implementing the 4 percent VAT increase until the consent of the cabinet and […]
GAAM: Weekly foreign inflow of Rs186 mln into stocks
The Guardian Acuity Asset Management weekly report can be downloaded here [pdf-embedder url=”http://www.lankabusinessonline.com/wp-content/uploads/2016/09/Weekly-Report-GAAM-10-09-16.pdf” title=”weekly-report-gaam-10-09-16″]
Royal Turf Club to stage Ladies Day at Nuwara Eliya race track this weekend
Once again the Royal Turf Club will score another first when they stage ‘Ladies Day’ up at the Nuwara Eliya Race Track on 17 September , with Minister Navin Dissanayake coming as a special guest. Nuwara Eliya will be all agog when the Royal Turf Club [ RTC ] kicks off or rather gallops off their […]
Lamudi’s second real estate expo in Sri Lanka next week
Leading property portal Lamudi Lanka (Pvt) Ltd is excited to host its Second Real Estate Expo in Sri Lanka, which will take place on the 23rd and 24th of September 2016 at the Taj Samudra North Lawn from 10am-7pm. This extravagant event will consist of the island’s top real estate developers showcasing their finest projects […]