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” to Sierra Cables PLC Fitch Ratings
Fitch Ratings has assigned Sri Lanka based cable manufacturer Sierra Cables PLC (Sierra) a National LongTerm Rating of ‘BB+(lka)’. The Outlook is Stable. Sierra’s rating reflects its established core business, which has an extensive product portfolio, modest but expanding market share and stable EBITDA margins. This is counterbalanced by exposure to cyclical endmarkets, risks associated […]
LBR LBO Summit to focus on brand innovation in the digital age
Jul 04, 2016 (LBO) – Sri Lanka’s leading digital strategists and regional thought leaders will take the stage at the 2016 edition of “LBR LBO Brand Summit,” themed “Building Winning Brands in the Digital Age and Strategy Innovation” Lanka Business Online, LBO, will be hosting the annual LBR LBO Brand Summit on Tuesday 12 July […]
Sri Lanka’s CCC welcomes new Governor, Urges Stakeholders to Support Restoring Confidence in CBSL
The Ceylon Chamber of Commerce warmly welcomes the appointment of Dr. Indrajit Coomaraswamy as the Governor of the Central Bank of Sri Lanka and extends to him its best wishes as he commences a 6 year term. Coomaraswamy, a much respected economist with a stellar track record both in Sri Lanka and overseas, is eminently […]
Sri Lanka’s first National Coop Policy & Coop Act in the offing
As Sri Lanka’s third economic force reported total value close to $ 3 Bn, it is set to enter the next stage of development with a variety of support measures from the government –including a National Cooperative Act, a Coop policy and the third cooperative university in South Asia set up in Sri Lanka. “We […]
Sri Lanka Ports Authority profit rises along with debt
July 04, 2016 (LBO) – Sri Lanka Ports Authority boosted profits by 43.7 percent to 4.6 billion rupees before tax, during the first four months of the year, the mid-year fiscal report of the Finance Ministry said. Revenue increased by 8.5 percent to 14 billion rupees during this period. However, outstanding borrowings increased, and SLPA […]
Britain to slash corporate tax to lowest in a major economy
July 04, 2016 (LBO) – The British Chancellor George Osborne wants to slash corporation tax to less than 15 per cent, making it the lowest rate in any major economy, amid steps to buoy the economy after the brexit vote. He said Britain should “get on with it” to prove to investors that the country […]
Asian stocks recoup losses, Aussie wobbles on uncertain election
July 4 (Reuters) – Asian shares shrugged off early losses and edged higher on Monday, while the Australian dollar was under pressure after no clear winner emerged from a weekend election. Activity across much of the region was subdued ahead of the U.S. Independence Day holiday, when financial and commodity markets will be closed. Investors also continued […]
Sri Lanka’s President appoints Dr. Indrajit Coomaraswamy as Governor of Central Bank
July 02, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena has appointed Dr. Indrajit Coomaraswamy as the new Governor of the Central Bank of Sri Lanka. Dr. Coomaraswamy will assume duties as the Governor of Central Bank on Monday. This is what President posted on his official twitter profile today morning. After consulting all parties […]
Sri Lanka exports drop 11.2-pct in March, trade gap widens
July 01, 2016 (LBO) – Sri Lanka’s exports fell a faster 11.2 percent to 945.4 million US dollars in March 2016 while imports fell at a slower 0.9 percent widening the trade gap, Central Bank data showed. The largest contribution for exports decline came from transport equipment followed by exports of spices. Earnings from transport […]
Sri Lanka 1-wk rupee forwards edge down on importer demand
July 1 (Reuters) – Sri Lankan rupee one-week forwards ended slightly weaker on Friday as importer dollar demand surpassed late inward remittances ahead of Ramadan while nervous investors awaited the appointment of a new central bank governor, dealers said. One-week dollar/rupee forwards, which have been acting as a proxy for the spot rupee, ended at […]
CEB posts Rs5.8 bln operating loss in first four months of 2016
July 01, 2016 (LBO) – Sri Lanka’s state-owned Ceylon Electricity Board has recorded an operating loss of 5,781 million rupees in the first four months of 2016 compared to the profit of 1,837 million rupees recorded in the same period last year. As per the mid-year fiscal position report, cost per unit without Tax has […]
Sri Lanka faces huge debt service requirements by July & Sept
July 01, 2016 (LBO) – Sri Lanka’s external debt service requirements are expected to be relatively larger in July and September of this year as per the estimates for the remaining period, the Finance Ministry said. Releasing the mid-year fiscal position report, the ministry said the total estimated debt service payment for 2016 is 1638.7 […]