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PTL Watch: Bond yields ease, further foreign buying
[pdf-embedder url=”http://lbo-stg.efserver.net/wp-content/uploads/2016/08/PTL-Daily-Market-Report-03rd-August-2016.pdf” title=”PTL Daily Market Report 03rd August 2016″]
Local, foreign insurers to get equal opportunities with new law
Aug 03, 2016 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to finalize the draft bill on Regulation of Insurance Industry Act by adding amendments that provide a level playing field for foreign and local insurance companies. In 2013, the cabinet granted approval to make several amendments to the Regulation of Insurance […]
Minister of Foreign Affairs, Canada and UNDP inaugurate Jaffna’s only Siddha Medicine Center
(PRESS RELEASE) – Honourable Stéphane Dion, Minister of Foreign Affairs of the Government of Canada and Her Excellency Shelley Whiting, Canadian High Commissioner to Sri Lanka together with Lovita Ramguttee, UNDP Sri Lanka Deputy Country Director, visited a UNDP project site recently in Jaffna. During the Honorable Foreign Minister’s visit to Jaffna as part of his […]
Sri Lanka forging ahead with reforms for intra-Asia trade : PM
Aug 03, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe says the Unity Government action plan is to introduce a large database of products and large-scale economic reforms for infrastructure with the hope of becoming the economic hub of the Indian Ocean. He said the government is now going ahead with plans to ensure […]
Deputy Minister Harsha de Silva heads Sri Lanka Delegation at 23rd ASEAN Regional Forum
(PRESS RELEASE) – Deputy Foreign Minister, Dr. Harsha De Silva headed the Sri Lanka delegation at the 23rd ASEAN Regional Forum (ARF) held in Vientiane, Lao PDR on 26th July 2016. ARF is a Foreign Ministerial Meeting for security dialogue in the Asia-Pacific region and it seeks to promote regional development and prosperity. The ARF […]
‘s private sector being too risk averse: Finance Minister
Aug 03, 2016 (LBO) – Sri Lanka’s private sector is being too risk averse and now is the time to come forward with proposals, Finance Minister Ravi Karunanayake said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “We have to take greater risk than what we […]
Sri Lanka’s Port City developer withdraws compensation claims
Aug 02, 2016 (LBO) – Sri Lanka’s port city developer CHEC Port City Colombo, who is handling the project for the Chinese investor, China Communications Construction, has agreed to withdraw all compensation claims for losses incurred due to the suspension of the project. However, the cabinet has approved allocation of 2 hectares to them, without […]
‘s Pemandu CEO
Aug 02, 2016 (LBO) – Malaysia’s model for economic growth in recent years has been driven by a focus on implementation, delivery and execution, Dato Sri Idris Jala, the chief executive officer of Malaysia’s Performance Management and Delivery Unit, PEMANDU, said. He was speaking on Tuesday at the Sri Lanka Economic Summit 2016 organized by […]
Expectations of economic management not being met: Razeen Sally
Aug 02, 2016 (LBO) – After 18 months of Sri Lanka’s new administration, expectations that proper economic management would be in place are going unmet, Prof Razeen Sally said. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. “My sense is that those expectations have not been […]
‘s exports lagging in Asia: Governor
Aug 02, 2016 (LBO) – Sri Lanka’s exports, as a percent of GDP, fall far below other countries in the region, Central Bank Governor Indrajit Coomaraswamy said on Tuesday. He was speaking at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce. Last year, exports as a percentage of GDP was […]
Sri Lanka’s Sampath Bank profits surge 54-pct in June quarter
Aug 02, 2016 (LBO) – Net profits at Sri Lanka’s Sampath Bank group rose 54 percent to 2.5 billion rupees in the June quarter from a year earlier, interim accounts showed. The group reported earnings of 14.16 rupees for the quarter against 9.20 rupees per share for the same period last year. The share was […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Aug 02, 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 listed unsecured rated redeemable subordinated debentures worth 5 billion rupees with an option to go up to 7 billion rupees. The […]