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Sri Lanka to sell Lanka Hospitals, Colombo Hilton, Hyatt, Waters Edge and Mobitel on CSE
Nov 23, 2015 (LBO) – Sri Lanka’s government plans to sell some of state-owned non strategic investments on the Colombo Stock exchange to raise money to reduce debt, Finance Minister Ravi Karunanayake said delivering the 2016 budget in parliament. “The government is keen to streamline its portfolio of investments and will therefore exit partially or […]
Sri Lanka’s CSE approves Rs.750mn Peoples Insurance IPO
Nov 23 (LBO) – Sri Lanka’s People’s Insurance, a fully owned subsidiary of People’s Leasing and Finance will be listed on the Colombo Stock Exchange through issuing offer 50 million shares, a statement said. “Through the Initial Public Offering, People’s Insurance will offer 50 million shares at 15 rupees each with the total value being […]
Mangala welcomes Samantha Power, US permanent representative to UN
Remarks to Media by Hon. Mangala Samaraweera, Minister of Foreign Affairs following talks with H.E. Ambassador Samantha Powers, Permanent Representative of the USA to the United Nations Ministry of Foreign Affairs. 21st November 2015 Good evening ladies and gentlemen. It has been an honour and a privilege today to welcome Ambassador Samantha Power to this historic Republic […]
Budget 2016 Big, Bold and Progressive: Lanka Securities
Nov 22, 2015 (LBO) – Lanka Securities Research has released their preliminary assessment of the budget proposals with its impact on the listed companies.Reproduce below is the report. [pdf-embedder url="https://www.lankabusinessonline.com/wp-content/uploads/2015/11/Budget-2016-Big-Bold-and-Progressive.pdf%22]
Chamber welcomes Budget as Investment and Development Oriented
Nov 22, 2015 (LBO) – The Ceylon Chamber of Commerce has welcomed the Budget 2016 for its measures to boost private investment and promote inclusive economic growth. The statement is reproduced below. Budget 2016 has shown a commitment to enhancing private sector participation in the economy through PPPs, begin to rationalise state expenditure, undertake some […]
Govt to raise Rs20bn from new excise duty for motor cars
Nov 20, 2015 (LBO) – Sri Lanka’s government is to introduce a unit rate of excise duty for the vehicles on the basis of cubic centimeters (cc) that generate 20 billion rupees for government, Finance Minister told Parliament Friday.A new valuation system was introduced recently taking full option manufactures price as the tax base, due […]
Banks to cease leasing from June, charges on cash withdrawal: Budget 2016
Nov 20, 2015 (LBO) – Sri Lanka’s banks have been asked to cease leasing activities from 01st of June next year while pawning should be limited to five percent of total loan portfolio, Finance Minister Ravi Karunanayake said in Parliament. “Honourable Speaker, I propose that licensed banks should concentrate on their core banking activities,” Karunanayake […]
Sri Lanka capital to have International Financial Centre
Nov 20, 2015 (LBO) – Sri Lanka’s government will make an international financial centre in Colombo, Finance Minister Ravi Karunanayake said while delivering the budget 2016 speech.A “Colombo International Financial Centre (CIFC)”, a specific zone along the lines of Dubai’s International Financial Centre will begin operations on DR Wijewardene Mawatha, he said. “Our geographical location in […]
Sri Lanka to allow tea imports within regulatory framework: Fin Min
Nov 20, 2015 (LBO) – Sri Lanka plans to liberalize the tea industry through allowing tea to be imported into the country within a regulatory framework, Finance Minister Ravi Karunanayake said delivering the budget 2016 speech at the Parliament. “Tea has remained a key export of our country but the value addition is not as significant […]
Budget 2016 Coverage – Proposals and Full Speech
Nov 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake commences the 2016 budget speech in Parliament. Key points: Proposals Micro, small and medium enterprises – Micro, small and medium enterprises find it hard to raise equity and debt financing with reluctance of financial institutions to lend to them. Advisory committee to develop SME […]
PTL Watch: Lower foreign holding for bonds in budget
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