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Sri Lanka to ratify WTO Trade Facilitation Agreement
Jan 07, 2016 (LBO) – Sri Lanka’s cabinet has approved a proposal to ratify the Trade Facilitation Agreement adopted in 2013 at the 09th Ministerial Meeting of the World Trade Organization in Indonesia. The agreement intends to accelerate and facilitate procedures related to customs clearance and borders relevant to import and export of goods. Maintaining […]
George Soros looking at investment opportunities in Sri Lanka
Jan 07, 2016 (LBO) – Global investor George Soros said that his team is in the Island and are looking at investment opportunities. “In addition to my people connected to the Open Society Foundation, my investment person is also in Sri Lanka to look for opportunities,” George Soros, a global investor and Founder Chairman of […]
‘s Parliament to launch a Mobile App
A ceremony to launch the first ever official Mobile App of the Parliament of Sri Lanka will be held today at Parliament. The Parliament’s Mobile App will be unveiled ceremonially by the Speaker Karu Jayasuriya.
Netflix is now available in Sri Lanka
Jan 07, 2016 (LBO) – World’s leading internet TV service, Netflix has launched its service globally including in Sri Lanka, simultaneously bringing its Internet TV network to more than 130 new countries around the world. The company made the announcement during a keynote by Co-founder and Chief Executive Reed Hastings at CES 2016. CES is […]
Anemic EM weigh on global growth, South Asia a bright spot: World Bank
Jan 07, 2016 (LBO)- Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 percent pace, from 2.4 percent growth in 2015, as advanced economies gain speed, according to the World Bank’s January 2016 Global Economic Prospects. The South Asia region, […]
Global equities off to poor start, Brent crude at 11-year low
Jan 07, 2016 (LBO) – Global equity markets are off to their worst start since 2000, with a weaker Chinease yuan sparking concerns about the global economy, as Brent crude fell to a 11-year low of 34.23 dollars a barrel. The MSCI All-Country World Index ended the first three days of 2016 down by 3.3 […]
‘s Treasury bill yields up across the board
Jan 06, 2015 (LBO) – Sri Lanka’s Treasuries yields were up with the 12-month yield rose 12 basis points to 7.42 percent at Wednesday’s auction, as statement said. 6 month bills rose 10 basis points to 6.93 percent while the 3-month yield rising 14 basis points to 6.59 percent, data from the state debt office […]
Sri Lanka stocks close down 0.4-pct: Foreign participation 83-pct
Jan 05, 2016 (LBO) – Sri Lankan stocks closed down at 0.43 percent for a third consecutive day with losses in illiquid stocks, brokers said. The Colombo benchmark All Share Price Index closed lower at 27.65 points at 6,817.65 down 0.40 percent. S&P SL20 closed 13.07 points down at 3,573.18 down 0.36 percent. Turnover was […]
Opinion: Stiglitz could keep Economic Forum on point
Jan 06, 2016 (LBO) – The work of renowned economist Joseph Stiglitz, a guest speaker at the Sri Lanka Economic Forum this week, could help focus attention on several issues simmering in the island’s political and economic discourse. The problem of deregulated markets, growing income inequality in neo-liberal economies, and IMF intransigence in the face […]
Sri Lanka’s Orient Finance to raise Rs1bn through IPO
Jan 06, 2016 (LBO) – Sri Lanka’s finance sector player Orient Finance is to raise one billion rupees by way of an Initial Public Offering. The company will offer 71.5 million ordinary shares at 15 rupees each, the company said in a stock exchange filing. The finance company formerly known as Bartleet Finance has obtained […]
CSE obtains exchange control approval to list foreign companies
Jan 06, 2016 (LBO) – Sri Lanka’s Colombo Stock Exchange has obtained exchange control approval from the Finance Ministry to start listing foreign companies in dollar denominated securities, CSE Chairman Vajira Kulatilaka said. Kulatilaka told LBO that the idea is to make the country a regional hub for financial activities. “This is the first step […]
ICT industry veteran Channa de Silva takes reins as CEO of LankaClear
Well known ICT industry veteran Channa de Silva took reins as the General Manager/ Chief Executive Officer of LankaClear recently with former General Manager/ CEO, Sunimal Weerasooriya moving away from the position following an illustrious eight year tenure. Central Bank backed LankaClear functions as Sri Lanka’s national payment network and is entrusted with developing the […]