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Dubai hotel chief among speakers at Asia Hotel Conference
Sept 26, 2016 (LBO) – The Chairman of the World Travel and Tourism Council, Gerald Lawless, will share his knowledge of building Dubai as a destination, as well as one of the world’s best-known luxury brands, Jumeirah Group, when he addresses the inaugural Asia Hotel and Tourism Investment Conference (AHTIC) in Colombo in November. The […]
Overseas Realty to raise Rs7.3bn in rights issue for Havelock City
Sept 26, 2016 (LBO) – Sri Lanka’s Overseas Realty is to raise 7.3 billion rupees by way of a rights issue, the company said in a stock exchange filing. The company is to issue 355 million new ordinary shares at 20.50 rupees each in the ratio of two new shares for every five shares held. […]
Fund flows into emerging markets at three-year high
Sept 26, 2016 (LBO) – After cash outflows over the last few years, money flowing back into emerging markets has hit a three-year high. Investors have chanelled more than 9 billion dollars into emerging market funds and the benchmark MSCI emerging market fund is up nearly 15 percent, CNBC reported. In a recent note to […]
Asian shares slip, U.S. presidential debate awaited
TOKYO, Sept 26 (Reuters) – Asian shares began the week under a cloud on Monday after losses on Wall Street, as investors’ attention turned from central banks to American politics ahead of the first U.S. presidential debate. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent in early trade, while Japan’s Nikkei […]
‘s Mattala international airport gets seven expressions of interest
Sept 26, 2016 (LBO) – The Mattala Rajapaksa International Airport (MRIA) has received seven offers for EOIs from mainly European-based aviation related firms, a media report said. The MRIA called for expressions of interest in June from investors to undertake investments and commercial operations in Hambantota through the Transport and Civil Aviation Ministry, the Sunday […]
IMF mission says delay in VAT law may postpone review
Sept 23, 2016 (LBO) – The IMF mission currently in Sri Lanka says they may have to postpone their review a bit if the proposed VAT legislation will get delayed in Parliament. The mission head Jaewoo Lee however told reporters in Colombo that it will not be necessary under the current environment. “On the submission of […]
PTL Watch: Bond yields mostly lower by 10-15 bps
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ADB to give Sri Lanka USD24.2Mn for transport feasibility studies
Sep 23, 2016 (LBO) – The Asian Development Bank (ADB) will help Sri Lanka prepare studies and designs for new road, railway, and port projects to assure the islands transport system is ready to support economic growth in the medium term. “With 24.42 million US dollars in ADB technical assistance, the Road Development Authority will […]
Sri Lanka’s Mattala International Airport feasibility cost just Rs1mn: Harsha
Sept 23, 2016 (LBO) – Sri Lanka’s previous administration has spent only one million rupees for the feasibility study of the Mattala International Airport, a Minister revealed. Deputy Foreign Minister Harsha de Silva pointed out that the then government has spent just one million rupees before wasting 350 million US dollars for setting up the […]
Uber introduces ‘Schedule a Ride’ in Sri Lanka
Sep 23, 2016 (LBO) – Uber, a global ride sharing company, will allow customers the convenience of scheduling a ride up to 30 days in advance with a ‘Schedule a Ride’ feature for its riders in Colombo, launched today. “Uber’s objective to offer accessible and reliable rides goes a notch further with the introduction of […]
Infrastructure: Sri Lanka should rethink housing for urbanizing population
Sep 23, 2016 (LBO) – Sustainable city development will need to entail alternative housing for urban poor as they are service providers for city dwellers, industrial hub and the ports while also looking at affordability for the middle income earner, a senior official said. “A paradigm shift is required. We need to rethink key areas […]
”t be fixed by monetary policy: UBS Chairman
Sept 23, 2016 (LBO) – The European Central Bank should recognize that Europe’s needs cannot be solved by monetary policy, according to UBS Chairman Axel Weber. Weber, a member of the European Central Bank Governing Council from 2004 to 2011, says monetary policy is only effective as an “interim solution or an intermediate solution.” “What […]